DOGECOIN DOGE/USD and SHIB/USD SHIB/USD has had a turbulent month, but traders remain optimistic about future prospects.
What happened: renowned analyst Ali Martinez predicted a bullish breakout in Shibai Inu, noting the formation of a bullish flag on the daily chart; Martinez placed a buy order around $0000018343, which would push the value of Shibai Inu up to $. He predicts it could rise to $BTC Meanwhile, crypto trader YG Crypto analyzed the recent performance of #Dogecoin , which fell 40% after its price reached $BTC Despite the sharp drop, Dogecoin is trading above the key $0.112-$0.123 support level that prevented the drop earlier. YG Crypto suggests that this support level could be a springboard for a rebound.
However, a break below this level could lead to further downward pressure.
Read also: #bitcoin , Dogecoin and #Shiba Inu rise after the latest #FOMC meeting - will history repeat itself on Wednesday?
Why it matters: according to IntoTheBlock, Dogecoin's large volume rose 36.2% to $1.32 billion; daily active addresses increased 8.9% to 54,630; the number of transactions over $100,000 increased from 407 on April 29 to 490 on April 30; and total inflows to the US exchange increased from $21.9 million to $30.5 million.
However, the percentage of Dogecoin holders who are currently profiting has dropped from 83% to 78% due to the recent price drop.
According to Shibariumscan, the number of active accounts jumped from 1,724 as of April 29 to 3,650 as of April 30. Transaction fees have also increased significantly, from 12.07 to 61.47 boons.
PRICE ACTION: At the time of writing, DOGE was trading at $0.1274 and SHIB was trading at $ 0000022, down 0.9% and 3.9% respectively.
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What's next: the impact of #meme coins and bitcoin as an institutional asset class will be discussed in more detail at Benzinga's "The Future of Digital Assets" event on November 19.
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