Home Tags Posts tagged with "dogecoin"
Tag:

dogecoin

Memecoin

Dogecoin Price Soars 10% as Smart Contracts and Whale Activity Fuel Surge

by Ouess
written by Ouess

The price of Dogecoin has surged by nearly 10% in the last 24 hours, driven by several key developments. Among them are plans to bring smart contracts to the Dogecoin network, supported by whale accumulation and ongoing support from Elon Musk.

Why Is Dogecoin Price Rising?

Dogecoin’s rapid price increase is due to multiple factors. One of the main reasons is the announcement of a zero-knowledge virtual machine (zkVM) that will enable smart contracts on the Dogecoin network. This, combined with Elon Musk’s vocal support and whale accumulation, has pushed the meme coin to new highs.

Smart Contracts Coming to Dogecoin Network

One of the biggest drivers of Dogecoin’s recent rise is the QED protocol’s partnership with Nexus to launch a zkVM on the Dogecoin network. This update will allow Dogecoin to support smart contracts, putting it in competition with established platforms like Ethereum and Solana. The move is expected to fuel the adoption of Dogecoin by introducing new utilities, including the potential launch of decentralized exchanges (DEXs) and NFTs on the network.

The Dogecoin network has seen stagnating activity recently, so this development is expected to reignite interest and increase adoption, offering more use cases for the meme coin.

Elon Musk Continues to Support Dogecoin

Elon Musk’s influence on Dogecoin remains strong. His recent social media activity, including posts about being the “Dogefather,” has sparked further speculation about Dogecoin’s future integration into X (formerly Twitter) as a payment method. Musk has hinted at DOGE being accepted at his future Hollywood supercharging station and potentially for Tesla merchandise, which could create additional use cases for the coin.

Dogecoin Whales Are Accumulating

Another significant factor behind Dogecoin’s price surge is the large-scale accumulation by whales. Data from Santiment, shared by crypto analyst Ali Martinez, shows that Dogecoin whales have acquired over 1.40 billion DOGE in just 48 hours. Additionally, IntoTheBlock data reveals a spike in large transactions, further indicating whale accumulation.

On September 26 alone, 9.41 billion DOGE were traded in these large transactions, signaling growing interest among major holders.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Elon Musk Subtly Promotes Dogecoin Again, Sparking Price Increase

by Ouess
written by Ouess

Elon Musk, the billionaire founder of Tesla and SpaceX, has once again drawn attention to Dogecoin (DOGE). In a recent post on his social media platform, X (formerly known as Twitter), Musk referenced a fictional “Department Of Government Efficiency,” which amusingly spells out DOGE.

While it’s unclear if this “department” will ever become a reality, some politicians are already backing Musk’s quirky idea. What is clear, however, is that Musk subtly promoted Dogecoin to his audience of nearly 200 million followers, continuing his unique support for the popular meme cryptocurrency.

Dogecoin Price Sees Bullish Momentum

As Musk’s mention of DOGE made the rounds, Dogecoin’s price responded positively. Since the start of the new trading day, DOGE’s previous decline was almost entirely reversed. The cryptocurrency has already gained 6.76% this week, following a bullish trend.

The price action of DOGE seems to be forming a falling wedge pattern, a technical indicator that could lead to a breakout. If the pattern completes, Dogecoin could reach $0.15, a 50% increase from its current price.

Will Musk’s Influence Boost Dogecoin?

While it’s still uncertain whether Musk’s latest reference to DOGE will drive the price higher, the current market conditions appear favorable. With the combination of bullish technicals and Musk’s ongoing endorsement, DOGE holders remain optimistic about reaching new highs.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Why Shiba Inu and Dogecoin Prices Are Falling: 3 Key Factors

by Ouess
written by Ouess

The prices of Shiba Inu (SHIB) and Dogecoin (DOGE) have taken a hit due to the ongoing Bitcoin price crash and capital rotation towards newer tokens. Both meme coins, once top performers, are facing a rough patch. Dogecoin’s price dropped by 5.45%, while Shiba Inu saw a 3.3% decrease.

3 Reasons Behind Shiba Inu and Dogecoin’s Price Decline

The market downturn for these popular meme coins has left many puzzled. Despite Dogecoin’s roadmap update and a significant SHIB burn, their prices continue to slide. Here are the three primary factors causing this dip.

1. Profit-Taking & Capital Rotation

Both DOGE and SHIB have been dominant players in the meme-coin space for a while. However, with the introduction of new tokens, many investors are reallocating their capital to emerging cryptocurrencies for potentially higher returns. Recently, TRON-based tokens gained popularity, with one trader making $7 million from a modest investment. This shift has weakened the performance of DOGE and SHIB, exacerbated by a lack of strong bullish momentum.

2. The September Slump

Historically, September has been a challenging month for cryptocurrencies, and this year is no different. Traders have been hesitant to place new trades as market sentiment has shifted toward fear. A report by Rekt Capital shows that Bitcoin has already seen a 6.19% decline in just seven days this month. This historical trend, seen consistently for the past nine years, is now impacting both Bitcoin and altcoins like Dogecoin and Shiba Inu.

3. Bitcoin’s Price Crash

Bitcoin’s performance heavily influences the entire crypto market. The flagship cryptocurrency has been struggling, dropping to as low as $53,000 before slightly recovering to $54,252.53. This ripple effect has pulled down other coins, including DOGE, which now sits at $0.0937, and SHIB, which is at $0.00001297. Whenever Bitcoin struggles, the rest of the market follows suit.

Final Thoughts

The current price drops of Shiba Inu and Dogecoin are part of a broader market crash, driven by weak Bitcoin performance and unfavorable US nonfarm payroll data. The slump has also been fueled by the September decline, a recurring pattern in crypto history. Traders remain cautious as the market navigates through this challenging period.

0 comment
0 FacebookTwitterPinterestEmail
Bitcoin

Can Bitcoin Break Its September Slump? Analyzing BTC’s Seasonal Trends

by Ouess
written by Ouess

Bitcoin (BTC) faced another setback on Monday, dropping to around $57,500 and extending its seven-day decline to over 10%.

This slump aligns with a broader downturn in the cryptocurrency market, with major coins like Solana (SOL), BNB, XRP, and Cardano’s ADA falling by up to 3%. Dogecoin (DOGE) led the losses, plunging by 5%.

ETF Outflows and Market Reactions

U.S.-listed exchange-traded funds (ETFs) tracking Bitcoin saw total net outflows of $175 million last Friday, marking the fourth consecutive day of losses. Ether (ETH) ETFs, despite $173 million in trading volume, reported no net inflows or outflows, according to data from SoSoValue. With the U.S. observing the Labor Day holiday, traditional markets remained closed.

September: A Historically Bearish Month for Bitcoin

Some traders have pointed out that Bitcoin’s recent losses are consistent with the historical trend of September being a challenging month for the cryptocurrency.

However, those traders also suggests that a potential interest rate cut by the U.S. Federal Reserve in September could disrupt this trend. “If the Fed cuts rates, it might help Bitcoin rewrite its negative history,” they explained. Rate cuts generally lead to an increased flow of U.S. dollars in the economy, potentially strengthening Bitcoin’s appeal as a store of value.

Understanding Seasonality in Bitcoin’s Price

Seasonality refers to the tendency of assets to experience regular and predictable changes throughout the year. For Bitcoin, this could range from profit-taking around tax season in April and May, leading to price drops, to the bullish “Santa Claus” rally in December, which often signals increased demand.

Will Bitcoin Overcome the September Slump?

As Bitcoin struggles through another challenging September, all eyes are on the potential impact of macroeconomic factors, including a possible Fed rate cut. While history suggests a tough month ahead, there are reasons to believe that Bitcoin could defy the odds and emerge stronger.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Dogecoin Integration with X Payment Service: Facts vs. Rumors

by Ouess
written by Ouess

Mishaboar, a prominent figure in the Dogecoin community, recently addressed the ongoing speculation about Dogecoin being added to X’s payment service. Despite widespread interest, there is no concrete information confirming its inclusion.

Speculation on Dogecoin’s Integration

No Confirmation Yet

Mishaboar acknowledged the excitement surrounding the potential integration of Dogecoin into X’s payment service. However, he emphasized that there is currently no confirmed information about its inclusion. Although X, owned by Elon Musk, has received a money-transmitter license in North Dakota, the details about Dogecoin support remain speculative.

Acquiring Licenses Nationwide

X is in the process of obtaining licenses across all U.S. states to launch its payment service. Despite this progress, Mishaboar pointed out that any connection to cryptocurrency and Dogecoin remains in the realm of rumors and speculation.

Mishaboar’s Views on the Cryptocurrency Market

Market Risks and Speculation

Mishaboar also shared his insights on the broader cryptocurrency market. He highlighted the speculative nature of the market and warned against the proliferation of new tokens, many of which he considers to be scams.

Dogecoin’s Unique Position

Amid recent statistics showing over 1.5 million meme cryptocurrencies created since the launch of the Solana-based Pump Fun app, Mishaboar stressed Dogecoin’s unique status. Unlike other meme tokens, Dogecoin is a decentralized and permissionless cryptocurrency with its own blockchain.

Investing in Dogecoin

Dogecoin’s Unusual Growth

Mishaboar pointed out that Dogecoin was not initially designed for profit. Its significant market cap growth is unusual and unlikely to be easily replicated. He advised limiting exposure to well-known coins and using reputable exchanges to mitigate risks.

Conclusion

While the potential for Dogecoin integration with X’s payment service sparks interest, there is no official confirmation yet. Investors should remain cautious and focus on reputable cryptocurrencies and exchanges.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Dogecoin Sees $1.1 Billion Whale Activity Amid Network Surge

by Ouess
written by Ouess

The recent surge in Dogecoin’s network activity has caught many eyes. According to IntoTheBlock data, Dogecoin (DOGE) reported a massive $1.1 billion in large transaction volume, indicating significant whale activity.

Large Transactions and Whale Activity

Large transactions, those over $100,000, are often linked to whales or institutional players. In the past 24 hours, Dogecoin experienced a 29.27% increase in large transaction volume, totaling 8.15 billion DOGE. Typically, such surges suggest active buying or selling by large holders.

Increased Network Activity

This spike in large transactions aligns with a notable jump in Dogecoin network activity. Data from IntoTheBlock shows a significant rise in the number of transactions, nearly doubling from 95,390 on July 26 to 196,300 on July 27.

Dogecoin Price Action

All eyes are now on Dogecoin’s price as it anticipates its next major move. At the time of writing, Dogecoin had decreased by 5.32% in the last 24 hours, sitting at $0.13, which mirrors the general market trend. However, trading volume has surged 87% to $1.28 billion as traders actively buy and sell Dogecoin.

After four days of decline, Dogecoin rebounded strongly on July 26. However, bulls could not maintain this momentum, facing resistance at $0.1389 on July 27. Since then, Dogecoin has retreated and is on track for a second consecutive day of losses if it closes in red today.

Potential Price Movements

If a rebound occurs, bulls might push Dogecoin above $0.14. Success in this area could see prices surge past $0.18, although strong selling pressure from bears is expected. Conversely, if Dogecoin drops from current levels, the $0.12 level is anticipated to act as support. A dip below this threshold could lead to increased selling, potentially sending Dogecoin down to $0.10, where bulls are likely to step in.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Dogecoin Prediction: Analyst Sees Potential 700% to 1,500% Surge

by Ouess
written by Ouess

A well-known cryptocurrency analyst, using the pseudonym Kaleo, has expressed a highly bullish outlook on Dogecoin (DOGE). Sharing his insights with his 642,200 followers on social media platform X, Kaleo predicts that Dogecoin could surge by 700% to 1,500% from its current price.

Expected Surge in Dogecoin Price

Kaleo believes that we are currently in a “meme coin supercycle” and anticipates Dogecoin reaching $1 to $2. He suggests that there is still some time left to prepare for this significant price movement. At the time of writing, Dogecoin is trading at $0.125.

Timing of the Rally

Discussing the potential timing for Dogecoin’s rally, Kaleo notes that previous Dogecoin surges began approximately eight to nine months after Bitcoin halvings. Since we are only two months past the most recent Bitcoin halving, he predicts that a substantial breakout might not occur until December to February.

Potential Short-Term Decline

However, Kaleo also warns of a possible short-term decline. He suggests that Dogecoin could drop by up to 36% before the anticipated rally. He wouldn’t be surprised to see Dogecoin fall back to the eight to ten cents range, retracing its February move up from around $0.09 to $0.22. A similar pattern occurred in August 2020, a few months before Dogecoin went mainstream and experienced a significant price surge.

Preparing for the Surge

Investors and traders should consider both the potential for significant gains and the possibility of short-term declines. Kaleo’s analysis offers a roadmap for those looking to capitalize on the expected Dogecoin surge while being mindful of the inherent risks.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Shiba Inu, Cardano, and Dogecoin Set to Outperform Bitcoin, Ethereum, and XRP in Short-Term Rally

by Ouess
written by Ouess

A recent report by on-chain analytics firm Santiment indicates that Shiba Inu (SHIB), Cardano (ADA), and Dogecoin (DOGE) have higher short-term rally potential compared to Bitcoin (BTC), Ethereum (ETH), and XRP.

The analysis, based on the 30-day Market Value to Realized Value (MVRV) metrics, suggests a favorable outlook for these altcoins.

Bullish Forecast for Shiba Inu, Cardano, and Dogecoin

Santiment’s latest report highlights that Shiba Inu, Cardano, and Dogecoin are positioned to outperform major cryptocurrencies like Bitcoin, Ethereum, and XRP in the short term. The 30-day MVRV, a key metric comparing the market value to the realized value of a cryptocurrency, indicates the likelihood of a price bounce. A lower MVRV ratio suggests a higher probability of an imminent rally.

Shiba Inu (SHIB)

According to Santiment, Shiba Inu shows the most promising outlook with a 30-day MVRV of -19.1%, the lowest among the analyzed large-cap cryptocurrencies. This suggests significant bullish potential for SHIB. The recent surge in the Shiba Inu burn rate and its acceptance as a funding option for Visa cards on Crypto.com further bolster market sentiment towards the meme coin.

Cardano (ADA) and Dogecoin (DOGE)

Cardano and Dogecoin also exhibit strong bullish signals with 30-day MVRV values of -12.6% and -16.7%, respectively. Dogecoin’s community-driven momentum and Cardano’s ongoing technological developments contribute to their favorable outlooks.

Market Dynamics Favor Altcoin Rally

Santiment’s recent post on X emphasizes: “The lower a cryptocurrency’s 30-day MVRV is, the higher the likelihood we see a short-term bounce.” The relatively mild bullish outlook for Bitcoin at -4.0%, Ethereum at -4.3%, and XRP at -3.5% contrasts with the more pronounced bullish signals for SHIB, ADA, and DOGE.

Potential for Gains

Current market conditions favor a rally for altcoins like Shiba Inu, Cardano, and Dogecoin. These altcoins, with their lower MVRV ratios, are positioned to leverage their undervaluation for potential gains. The MVRV ratio serves as a critical indicator of whether an asset is overvalued or undervalued relative to its realized value. When significantly negative, it suggests undervaluation, providing a buying opportunity that could lead to a price increase.

Current Market Performance

As of this writing, Shiba Inu’s price is up around 2%, Dogecoin has jumped 1.85% in the last 24 hours, and Cardano has soared 2.29% to $0.3891. In contrast, Bitcoin’s price has fallen nearly 1% to $65,100, struggling to regain momentum. Ethereum has followed the broader market recovery, jumping 3% to $3,529, while XRP has dropped 2.54% to $0.4902.

Conclusion

While Bitcoin, Ethereum, and XRP remain industry leaders, their relatively higher MVRV ratios suggest less aggressive short-term rally potential compared to altcoins like Shiba Inu, Cardano, and Dogecoin. These altcoins have shown resilience and are now positioned for potential gains based on their lower MVRV metrics and recent market trends.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

Dogwifhat Surpasses Pepe in 24-Hour Trading Volume

by Ouess
written by Ouess

The Solana-powered meme coin known as dogwifhat $WIF has surpassed Pepe $PEPE in 24-hour trading volume, marking a significant milestone in its growing popularity, according to data from CoinGecko.

In the last 24 hours, the trading volume for dogwifhat reached an impressive $36.6 million, outshining the well-established favorite, Pepe, which recorded a volume of $35.6 million. This achievement signals a noteworthy shift in the landscape for this emerging digital asset.

Traditionally, Dogecoin and Shiba Inu have dominated the meme cryptocurrency space in terms of trading volume. Dogecoin remains at the forefront with a substantial 24-hour volume of $657,577,938, while Shiba Inu follows with $130.4 million.

However, newer entrants like Bonk ($BONK) and Memecoin ($MEME) are also making waves, boasting respective trading volumes of $51.2 million and $47.6 million.

Dogwifhat, which was previously not as prominently positioned, has experienced a remarkable surge in trading activity, surpassing Pepe in terms of volume.

The meme coin is not only gaining traction in trading volume but also receiving increased recognition on cryptocurrency trading platforms. Binance Futures recently announced the launch of a perpetual contract with up to 50x leverage for dogwifhat, elevating its visibility and potential liquidity. The meme coin is making its mark on both decentralized and centralized exchanges, including platforms like Raydium and Gate.io, appealing to both decentralized finance (DeFi) enthusiasts and traditional traders.

This growing recognition is fueled by a resurgence of interest in Solana-based meme coins. On-chain metrics indicate a surge in network activity for Solana, benefiting tokens like dogwifhat, which recently experienced a substantial rally before stabilizing. The meme coin’s value is rooted in its viral imagery featuring a dog with a hat and the associated meme “wif hat,” which has gained popularity in the crypto community.

0 comment
0 FacebookTwitterPinterestEmail
Uncategorized

Dogecoin’s Price Surge and Whale Alert’s 65M DOGE Transactions to Coinbase

by Ouess
written by Ouess

Whale Alert, a service monitoring substantial crypto transactions, revealed a movement of nearly 65 million Dogecoin to Coinbase, a major U.S.-based exchange, coinciding with a notable surge in DOGE’s value. The transactions consisted of 15 transfers from an unknown sender’s wallet to a Coinbase address, totaling 64,746,017 DOGE worth $6,127,419. Notably, the sender’s wallet is now empty, indicating a complete transfer of its meme coin contents for potential sale on the exchange.

Around two weeks ago, Dogecoin experienced increased transaction counts, surpassing one million and subsequently 1.5 million transfers. However, this metric has since decreased to approximately half a million DOGE transactions, as reported by Blockchair explorer.

The price of Dogecoin has seen significant volatility, rising by 35.7% between Nov. 28 and Dec. 6, reaching $0.1041, coinciding with DOGE’s birthday celebration. Following this peak, there was a subsequent 10.5% decline within a day, followed by a 5.5% increase in the last 24 hours, with DOGE currently trading at $0.0968.

Dogecoin’s co-founder, Billy Markus, recently acknowledged a bug in DOGE’s code—absence of a cap on total coin mining—that he and fellow co-founder Jackson Palmer chose not to fix. This bug’s existence, according to Markus, prevented DOGE from ceasing to exist long ago.

0 comment
0 FacebookTwitterPinterestEmail
Newer Posts
Older Posts

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
Social Media Auto Publish Powered By : XYZScripts.com
Skip to content