Dogecoin whales, a memecoin like SHIB, have been on the brink over the past 24 hours, with large transactions up 126 percent, according to data from IntoTheBlock. These transactions exceed $100,000, according to crypto analytics firm IntoTheBlock. Here are the details…
SHIB rival memecoin has risen steadily since April
Dogecoin (DOGE) on April 5 after Elon Musk was announced as the newest member of Twitter’s Board of Directors. It had risen to $0.1799. SHIB rival gained more than 20 percent, climbing from lows of $0.146 in response to news about Elon Musk. Elon Musk, who is currently Twitter’s largest individual shareholder and board member, may want DOGE payments to be integrated into the social media company’s platform in some way.
Tesla CEO Elon Musk has been a staunch supporter of Dogecoin in recent months, allowing it to be accepted for payment in DOGE’s online product store. DOGE has risen steadily since the beginning of April, reaching $0.1799 for the first time in two months. As of now, DOGE is down 12 percent on its daily chart at the current price of $0.1468 as investors are profiting. Dogecoin bulls failed to break through the $0.183 barrier and therefore pushed its price to the lows of $0.151.
Cryptocurrency market dips
According to data from IntoTheBlock, the profitability of Dogecoin (DOGE), a memecoin like SHIB, has stood at 65 percent amid recent price spikes. Besides, as the majority of cryptocurrencies have lost value at the time of writing, the entire cryptocurrency market is starting to make a profit. Dogecoin continues to maintain its gains of 2.58% in the last week, despite falling on the daily charts.
In addition to DOGE, which is in great competition with SHIB, the leading cryptocurrency Bitcoin (BTC) fell below 45 thousand dollars with a rate of approximately 4.5 percent. is dragging the rest of the cryptocurrency market down with it. As Cryptokoin.com previously reported, Ethereum also did not outperform Bitcoin, while it fell by 6.18 percent in the last 24 hours.
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