Dogecoin‘s value around $0.20 has seen considerable fluctuations since late March. This occurred after DOGE exceeded $0.22 in value during that time.
Traders often view the $0.20 mark as a significant barrier to surmount, underscoring the challenge of pushing prices above this historically contested price point. According to IntotheBlock’s data, approximately 32,000 investors hold around 3.78 billion DOGE coins at a loss within the $0.20 price range.
Dogecoin is aiming for a fresh annual peak! In the past month, $DOGE has surged by over 10%. To maintain this momentum and reach new heights, Dogecoin must convincingly surpass the $0.20 mark. At this price point, approximately 32,000 wallets hold around 3.78 billion DOGE at a loss.
— IntoTheBlock (@intotheblock) April 9, 2024
Doge needs to surpass this barrier for it to reach greater heights. Likewise, well-known trader Rekt Capital pointed out that Doge is undergoing a reevaluation at this point on the monthly chart’s perspective.
Currently, DOGE is being traded for $0.19 per token. This represents a 3% drop in value compared to the previous day. DOGE has shown decent performance over the past week, while many memecoins have experienced losses. For instance, Dogewifhat (WIF) and Book of Meme (BOME) have declined by 9.2% and 21.5%, respectively.
Currently, DOGE and Shiba Inu (SHIB) have risen by 2.0% and 2.9% respectively. Notably, SHIB‘s layer-2 scaling solution, Shibarium, has seen a substantial surge in daily transactions, exceeding 75,000. This represents an impressive 1,000% increase.
An impressive advancement for SHIB is the significant rise in the token burn rate. According to CryptoPotato’s report, this rate surged by over 300% within the first few days of the week, effectively removing around 100 million SHIB tokens from circulation.
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2024-04-10 11:04