$SHIB

Dogecoin (DOGE) and Shiba Inucoin (SHIB), as the two giants in the Meme cryptocurrency field, are showing a vigorous development trend, indicating that they may move to new heights. Recently, the destruction rate of Shiba Inu Coin has achieved significant growth, specifically as a surge of 640.7% in a short period of time, with approximately 1 million SHIB destroyed in a single transaction. In the past 24 hours, a total of 5.56 million SHIBs were destroyed across the entire Shiba Inu ecosystem. This move effectively reduced the market supply and laid the foundation for potential price increases.

At the same time, there are also positive signals coming from the Dogecoin market. Cryptocurrency chart analyst Ali Martinez revealed that in the past 48 hours, “whale” investors (large holders) of Dogecoin have actively increased their holdings, purchasing DOGE worth approximately US$140 million, with the number exceeding 1.4 billion coins. . This move quickly aroused widespread attention and speculation in the market, believing that Dogecoin may usher in a major change. Currently, Dogecoin has successfully broken through the key resistance level of $0.111, and approximately 62,270 addresses hold more than 36 billion Dogecoin. Martinez further analyzed that if DOGE can stabilize this price level, it is expected to further confirm its bullish trend and may climb to $0.150 without hindrance.

However, when digging into the market data, some challenges facing Dogecoin were also discovered. Data from IntoTheBlock shows that Dogecoin’s large-value transaction volume has recently declined by 38.8%, while daily active addresses have also decreased by 4.6%, and the number of large-value transactions (more than $100,000) has shrunk from 299 to 223. . In addition, net foreign exchange flows also dropped significantly by 106.4%.