Key dogecoin (DOGE) and Shiba Inu (SHIB) Metrics Explode in Double Digits on C Market
TL;DR
- The cryptocurrency market, including leading cryptocurrencies and meme tokens such as Dogecoin and shiba inu, has experienced a significant downturn, with significant liquidations and price declines.
- Bullish predictions for Dogecoin and Shiba Inu continue due to increased trading volumes and advances in network developments such as Shibarium.
The cryptocurrency industry has dropped significantly in the last few hours, with its market cap falling below $2.6 billion (according to data from CoinGecko).
Bitcoin (BTC), Ethereum (ETH), and many other leading digital assets are in deep red. Like CryptoPotato reportedThe negative trend resulted in liquidations of more than $500 million, mostly long positions.
The situation is no different in the meme coin niche. Dogecoin (DOGE) is down 12% on a 24-hour scale, while Shiba Inu (SHIB) is down 9%.
However, some metrics on the largest meme coins by market cap have trended north recently. DOGE total daily volume according to IntoTheBlock (where each transaction is more than $100K) approaching $5 billion (90% increase over the figure observed on April 1). Daily active addresses also witnessed a revival, increasing by almost 40%.
The Shiba Inu’s numbers are even more impressive; SHIB’s total daily volume increased by more than 300%.
Both assets were predicted to enter a bull run in the near future. Popular crypto analyst Rekt Capital guess It is predicted that DOGE may rise towards $0.30 due to the start of a new “macro trend”.
The expert also suggested that SHIB could head for a new ATH if it breaks the major resistance level at $0.000033285.
X user Captain Faibik summarized The self-proclaimed Dogecoin killer also has a bullish forecast claiming that Bitcoin is on the verge of a 2x price increase.
Successful implementation of a burn program can help Shiba Inu return to the green zone. Like CryptoPotato reportedThe team behind the meme coin burned more than 15.5 billion tokens last month (a 2,300% increase compared to February’s data).
Another factor is the advancement of Shibarium. Total transactions in Tier-2 scaling solution exceeded Last month, 400 million wallet addresses reached almost 1.4 million. For those who want to learn the goals and features of the network, feel free to watch our special video below:
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