Market Update: Bitcoin Bulls Bounce Back, Dogecoin Slumps, XRP Jumps 18%
Digital currency markets have been regaining some of the losses felt last week as the entire crypto-economy has jumped back over the $2 trillion valuation mark. Bitcoin has risen above the $55k zone, while other digital assets have seen more precipitous gains. Out of the top ten leading crypto assets on Tuesday, XRP and UNI have amassed double-digit percentage gains during the morning trading sessions. Crypto Markets Rebound Bitcoin and a number of crypto assets have been doing much better during the first couple of days this week in comparison to last week’s losses. Currently,....
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Dogecoin forks to avoid exploitative mining pools. Yes, you can still teach an old Doge new tricks. Only three months after the release of Dogecoin, the cryptocurrency based on a meme has cleared its third major hurdle. After discovering that certain mining groups were exploiting a weakness in the protocol to game the system, the doge-devs are ready to release version 1.6 of the Dogecoin wallet client. This update is mandatory. At block 145,000, Dogecoin will automatically fork so that no Dogecoin is at risk of being lost. The update will change block-rewards, which had been random, to a....
Shiba Inu first appeared on the scene as a joke-coin in 2020, aimed squarely at the top dog of the time Dogecoin. The meme coins uccessfully marketed its way to the position while avoiding rumors of a fraud and what appears to be a slow but steady start Shiba Inu Slumps 5% At press time, SHIB was down 5%, along with DOGE and other large cap crypto currencies, as the global cryptocurrency market cap fell to $2 trillion. SHIB/USD price slumps 5%. Source: TradingView At the time of publication, SHIB was one of the most popular coins on Twitter. According to Cointrendz data, it received 2,320....
With a bearish market, the canine-themed meme coin Dogecoin suffered a major decline in trading volume. Investor interest also dramatically waned starting December 2021. Further, there was a huge 66% slump in trading volume from January to March of 2021. Things got even worse in February when Russia invaded Ukraine. Suggested Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter DOGE Slumps from 2021 In January this year, Dogecoin’s trading volume was at $33.51 billion. Comparatively, the trading volume in February 2022 dropped further to $22.44 billion. The trading price....
Bitcoin price slumps toward support – which has held since late-May – although coming under fire twice during the last 24 hours. Additional support awaits just below. A price downdraft, today, has pulled price to a supporting trendline (blue) at $454 (Bitstamp). The trendline has a companion in RSI and a break of either should result in the market looking for support at the 4-hour 200-period moving average (200MA, red) currently ascending through $449. According to the market’s behavior during 2016, so far, price could be bid back up at the 200MA – as happened at the blue arrow during....
Dogecoin has leapt a massive 8% today disrespecting the resistance level of 50 to be trading at 50.8 satoshis. I have been maintaining in earlier analyses that a major move was expected in Dogecoin as the week comes to a close. The bears have given away the slight advantage that they had over the bulls and the onus is now completely on bulls to tighten their grip. Taking a technical look at the 240-minute Dogecoin/BTC price chart above reveals that the upmove has been backed by strength and that maintaining this bullish momentum will be the key to see a further rise in the market cap of....