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Cardano (ADA) has emerged as a leader in developer activity, surpassing Ethereum (ETH) and other major blockchain networks. The surge in GitHub commits reflects Cardano’s commitment to innovation and growth, positioning it as a frontrunner in the competitive blockchain landscape.

GitHub commits are updates or modifications made to a project’s code on the GitHub platform using the Git version control system.

Each commit represents a specific change to the codebase, like adding features, fixing bugs, or enhancing performance. Commits include a message explaining the changes, aiding collaboration and progress tracking in software development.

Impressive GitHub Commit Numbers

IntoTheBlock reports that Cardano’s ADA is currently the cryptocurrency with the highest development activity and weekly engagements, surpassing major cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC). Following ADA, Avalanche (AVAX) takes the third spot, with Litecoin (LTC) ranking fourth.

We're not surprised to see #Cardano continually come out on top in developer activity. It has been this way for years. It might not always reflect it in the marketplace, but $ADA is like a strong tsunami building. We see it and are part of it every day. Building together. pic.twitter.com/j2gVnNyyGF

— Genius Yield official (@GeniusyieldO) March 19, 2024

Between March 11 and 17, Cardano recorded an impressive total of 978,780 commits on GitHub, showcasing its proactive approach to advancing its platform. In comparison, Ethereum, a leading blockchain platform, trailed behind with 407,170 commits during the same period.

This significant lead in GitHub activity underscores Cardano’s dedication to attracting developers and enhancing its ecosystem.

The rise of Cardano’s developer activity also sheds light on the broader trend of increasing engagement across layer-1 (L1) blockchain protocols. Avalanche (AVAX) recorded 315,770 commits, demonstrating a strong commitment to innovation and growth. 

Similarly, Litecoin (LTC) and Tron (TRX) showed notable developer engagement, with 84,110 and 79,380 commits, respectively. Despite these efforts, these networks still lag behind Cardano in terms of overall developer activity.

Developer engagement is a critical metric for evaluating a blockchain protocol’s potential growth and evolution. High-commit counts indicate an active developer community working on decentralized applications (dApps) and improving the network’s capabilities.

This continuous development work is essential for enhancing the functionality and resilience of the blockchain network over time.

Cardano Price Performance vs. Developer Activity

ADA/USDT Price Chart: TradingView

Despite Cardano’s strong developer activity, its price performance has not mirrored this success. ADA has been trading below the $1 mark since April 2022 and is currently priced at $0.63, reflecting a 0.18% surge in the past 24 hours. Despite the positive GitHub commit data, ADA has experienced a decrease of 20.66% over the past week.

However, several analysts have recently expressed optimism about the asset, forecasting a new record high in the coming days. For instance, X user Ali Charts drew parallels between the coin’s current performance and its past bull cycle, suggesting a potential “parabolic” surge to reach as high as $10.

In a surprising turn of events, Billy Markus, the co-founder of Dogecoin, who is known for his lighthearted and sometimes humorous views on the cryptocurrency industry, has made a statement that has grabbed the crypto community’s interest.
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In a playful request, Markus urged Bitcoin, the leading cryptocurrency, to achieve an extraordinary value of $1 million per coin, all without anyone having to actively work towards it.

Dogecoin Founder’s Whimsical Bitcoin Wish
In a light-hearted tweet, Billy Markus, also known as “Shibetoshi Nakamoto” on X, expressed a fanciful desire for Bitcoin to soar to $1 million per coin while he slept, adding a touch of humor to the cryptocurrency scene.
dear bitcoinplease go to 1 million dollars per coin while i am sleepingthanks— Shibetoshi Nakamoto (@BillyM2k) March 24, 2024

The background behind Markus’s statement remains somewhat unclear, but it aligns with his tendency to inject humor into the cryptocurrency industry. Dogecoin itself was initially conceived as a joke by Markus and Jackson Palmer in 2013, poking fun at the speculative nature of cryptocurrencies, particularly Bitcoin.

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Markus’s tweet coincided with a notable 11% decline in Bitcoin’s price from its recent all-time high of $73,737. This downturn was driven by profit-taking among traders following Bitcoin’s impressive 134% year-over-year surge. The timing of Markus’s tweet adds an interesting layer to its interpretation, occurring amidst Bitcoin’s market volatility.
Bitcoin Price Trends and Dogecoin Co-Founder’s Remark
Bitcoin’s Recent Performance: According to CoinMarketCap data, the leading cryptocurrency experienced a 1.39% increase in the last 24 hours, reaching $65,839. However, over the past week, Bitcoin saw a dip to as low as $60,760, attributed to reduced demand for U.S. exchange-traded funds holding the cryptocurrency.

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Interpretations of the Co-Founder’s Comment: While some view the Dogecoin co-founder’s statement as a playful joke, others see it as a thought-provoking reflection on Bitcoin’s potential to disrupt traditional financial systems and reshape the global economy.
Bitcoin’s Growing Acceptance and Price Targets: With Bitcoin gaining broader acceptance and adoption, the idea of a $1 million price target, once considered unrealistic, is gaining traction. As Bitcoin’s influence continues to expand, such ambitious price projections may not be as improbable as they once seemed.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#Bitcoin #Altcoin #Cryptocurrency #Dogecoin #Doge $DOGE

This article was paid for*

The weekend crypto price action was pretty flat across the board, but one major meme coin is getting attention, and that’s the king Dogecoin. With a 16% pump, DOGE has outperformed most other meme coins this week and is looking to continue its positive momentum in April ahead of a few important dates for DOGE.

Meanwhile, a new meme coin alternative called Dogecoin20 (DOGE20) has had a strong start to its presale, raising over $8.5 million in March with a hard cap set at $10,068,663.

Notable dates for Dogecoin in April

Coinbase International is set to launch $DOGE futures trading on April 1st, potentially fueling more interest in the meme coin. Additionally, April 20th is known as ‘Doge Day,’ where the crypto world celebrates the not-so-serious origins of Doge, honoring the 420 meme. The recent tendency of meme coin prices to react sensitively to such events is important to keep in mind.

DOGE was lagging behind other major meme coins like SHIB, WIF, FLOKI, and PEPE in late February and early March when meme coin mania started. While most of these coins saw 5-6x or more gains, DOGE experienced a roughly 2x jump, increasing from around $0.09 to $0.2.

However, due to the upcoming Coinbase futures and the important DOGE day, the spotlight seems to be shifting back to DOGE now, as most meme coins have lost value amid a broader crypto market correction last week, while DOGE is up around 16%.

Dogecoin Price Predictions

DOGE is trading slightly above $0.17 at press time. 

Based on the DOGE/USDT chart, we can see that following the pump in late February, DOGE has been trading in a sideways channel (between the blue lines) ever since, ranging from $0.12 to $0.2, a level where the price got rejected in early March and has failed to breach since.

Breaking the $0.2 resistance would be the next target for DOGE. The $0.21 resistance is in line with the $1.618 Fibonacci extension level, which represents a key level calculated using Fibonacci ratios based on previous price movements.

A more ambitious target for DOGE, based on Fibonacci extensions, is set at $0.32, in line with the 4.236 Fibonacci extension level. These levels are calculated using Fibonacci ratios applied to the previous price swing and can act as potential resistance or support levels.

On the flip side, $0.13 now acts as support, in line with the 0.786 Fibonacci retracement level. If any major crashes occur, DOGE would have to hold the $0.087 level, as this is now the 200-day moving average, an important long-term trend indicator.

Other technical indicators scream bullish too. For example, the Relative Strength Index (RSI) is at 59, indicating that the asset is not overbought or oversold. Additionally, the Moving Average Convergence Divergence (MACD) line is above the MACD signal line, suggesting a bullish trend.

Based on this analysis, if DOGE can break the $0.2 resistance, it could potentially target the $0.21 and $0.32 levels, fueled by the upcoming Coinbase futures launch and DOGE Day. However, it would need to hold the $0.13 and $0.087 support levels in case of any significant market corrections.

Dogecoin20 (DOGE20) nears presale completion 

Dogecoin20 (DOGE20) is a dog-themed project that combines meme culture with a staking protocol for earning passive income. This project has raised over $8.5 million so far within just over a week of its launch, with a hard cap now left with $1.5 million more to be raised before the presale is sold out.

A total of 53 billion DOGE20 tokens will be sold in the presale, which makes up 38% of the total supply of 140 billion. In contrast to Dogecoin, which has an infinite supply, Dogecoin20 has a capped supply to prevent inflation and dilution.

Those currently staking their $DOGE20 are earning over 100% Annual Percentage Yield (APY) on their holdings. The high APY is designed to incentivize users to stake their $DOGE20 tokens, helping reduce selling pressure on the open market when the project launches.

The team has set aside a generous 15% of the total $DOGE20 token supply to provide rewards to stakers over the next two years. Additionally, 12.5% of this allocation will be distributed to stakers in the first year, incentivizing holders to start staking earlier, while 2.5% will be distributed in the second year. Early buyers of DOGE20 can start earning staking rewards from the presale itself.

As mentioned, 38% of the supply is reserved for the presale, 10% for liquidity, and 37% for marketing. This distribution aims to ensure sufficient liquidity and funding for promotional efforts to drive awareness and adoption of the DOGE20 token.

The DOGE20 token is greener and more versatile than the original Dogecoin because it runs on Ethereum’s Proof-of-Stake network, which is easily accessible and does not require a Proof-of-Work mining setup. As an ERC-20 token, it is also easy to store in any popular self-custody wallet. 

Conclusion

All in all, Dogecoin (DOGE) seems to be gearing up for potential price movements ahead of the Coinbase futures launch and the DOGE Day celebration on April 20th. While DOGE has been trading in a sideways channel, a break above the $0.2 resistance could trigger further upside towards $0.21 and $0.32, based on Fibonacci extension levels.

On the other hand, Dogecoin20 (DOGE20) is a new meme coin alternative that has garnered attention among meme coin enthusiasts, raising over $8.5 million in its presale so far. With a capped supply, staking rewards, and a focus on passive income, DOGE20 aims to address some of the inflation and utility concerns associated with the original Dogecoin. 

Visit Dogecoin20 Website

*Cryptonomist did not write the article or test the platform.

Dogecoin might have started as merely a joke, but this April Fool’s Day, it’s receiving some serious attention. Crypto exchange Coinbase, known for its rigorous listing standards and regulatory compliance, is set to launch futures trading for the leading doggy-themed meme coin alongside Litecoin and Bitcoin Cash.

Coinbase believes Dogecoin’s “enduring popularity” suggests it has evolved from a whimsical meme to a foundational element in the current investing climate.

Dogecoin Sheds Meme Status With Upcoming Coinbase Futures Trading

In three separate letters to the Commodities Futures Trading Commission (CFTC) on March 7, Coinbase disclosed its intention to launch monthly cash-settled futures contracts for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH).

Coinbase said in the letters that it would invoke the self-certification route under CFTC Regulation 40.2 (a) to list these futures contracts. This method allows exchanges to launch new offerings before receiving CFTC approval as long as they adhere to the regulatory guidelines stipulated by the commission.

Coinbase defended its listing of DOGE futures by arguing that the memecoin had transcended its joke status and had grown to become a notable force in the crypto landscape.

“Dogecoin’s enduring popularity and the active community support suggest that it has transcended its origins as a meme to become a staple of the cryptocurrency world.”

The price of DOGE rose as much as 14.2% over the last 24 hours to trade hands at $0.1517 at press time.

When DOGE ETF?

Crypto observers have suggested that Coinbase’s move is calculated given that Dogecoin, Litecoin, and Bitcoin Cash are all based on Bitcoin’s proof-of-work mechanism, and the SEC recognizes BTC as a commodity. As such, this potentially dissuades the regulator from classifying such crypto assets as securities.

Bloomberg ETF analyst James Seyffart remarked on X, “This is interesting… wonder if the SEC objects to these being classified ‘commodities futures’ versus ‘securities futures’. Given their origins from Bitcoin, arguing these as securities would be challenging, especially after spot #Bitcoin ETF approvals. Coinbase’s selection might be strategic.”

Others deemed Coinbase’s move to launch Dogecoin futures as a likely precursor for the launch of U.S.-based spot DOGE exchange-traded funds (ETF) in the future.

The greenlighting of spot Bitcoin (BTC) ETFs in January and the subsequent success of these novel products have given optimism to many about the possibility of ETFs based on other cryptocurrencies such as ether, Dogecoin, Ripple’s XRP, and others securing approval. But whether a similar trend will follow for these altcoins remains to be seen.

Dogecoin took a reversal from the level of $0.2065 and broke below the key moving averages suggesting that sellers are pulling the price down.
Over a week, Dogecoin crypto has experienced a decrease of approximately 19.85%. However, the coin has grown by almost 57.31% in a month, and 46% in the last 3 months. It gave an outstanding return of $120.13% in the last 6 months and grew by 49.94% year to date. The data shows weakness in the price.
At press time, the Dogecoin crypto price was $0.1345, with an intraday gain of 4.34%, showing bullishness in the session. Moreover, the trading volume is 2.55 Billion. The market cap is $19.31 Billion. Analysts have maintained a neutral rating.
The current situation demands traders and investors to be calm and wait for a clear break above or below the range before taking any actions and avoiding the fear of missing out to reduce losses.
The oscillators are currently showing that the price is overvalued. Investors are not very hopeful about the token’s recovery. The short sellers may benefit from this opportunity while buyers may choose to sit on the fence regarding the current situation.
Technical Analysis of Dogecoin Crypto Price in 1-D Timeframe
The price currently needs significant support from the buyers to make a comeback as it is facing major resistance from the previous resistance points and multiple moving average levels. Buyers are taking control of the price movement, according to the candlestick patterns.
Dogecoin Crypto Price vs Volume Analysis

According to the price and volume graph, the trading volume and price both declined in March. If the trading volume continues to drop, it could negatively impact the price.
Dogecoin Crypto Social Dominance vs Social Volume

The graph depicting the correlation between social dominance and social volume has shown a downfall in the past few weeks, indicating a negative trend. This recent change may potentially affect the future momentum of the DOGE coin price.
$DOGE #DOGE

The tech billionaire has finally shared the real reason why he favors and supports popular memecoin Dogecoin. 

Tesla CEO Elon Musk has once again expressed his support for Dogecoin (DOGE) calling it the people’s crypto. The billionaire said that he advocates the memecoin because it is accessible to regular people, unlike Bitcoin, which only the rich support. 

“DOGE is people’s crypto. I will support it. A lot of rich people support Bitcoin, but I will support Dogecoin. You know what, Dogecoin is for you (the regular people) and I will support it,” Musk said during his recent visit to Berlin, Germany.

The Tesla CEO disclosed the reason behind his decision to endorse the memecoin, stating that it is fueled by his interactions with people working in the Tesla factory who urged for his support. He also said that a similar request was made to him at SpaceX by visitors therefore he concluded: “If the people on the line want me to support DOGE, I’ll support DOGE.”

Tesla Set to Enable Payments with Dogecoin

Further expressing his support for the meme coin, the tech billionaire said that DOGE might be accepted as a payment method for Tesla “at some point.” However, he did not say when that will happen. 

Moreover, this is not the first time the electric manufacturing company has dabbled in Dogecoin. Tesla started accepting DOGE as payments for branded products in January 2022.

Although it started as a joke, the meme coin has gained favor with many corporations, resulting in increased adoption. For instance, the luxury car producer Ferrari began accepting Dogecoin as a means of payment in the United States earlier this year. 

Musk’s Influence on Dogecoin

Often regarded as the Doge father, Musk has expressed his fondness for the dog-themed meme coin on multiple occasions which has historically had a significant influence on Dogecoin’s value.

Notably, Musk’s recent statements also sparked enthusiasm among investors as the market price of the meme coin witnessed a sudden surge. According to price tracking platform Coinstats, Dogecoin’s price increased by 7.23% in the past 24 hours to $0.183 at the time of writing. 

Dogecoin began as a joke/meme featuring the face of a Shiba Inu dog. The memdcoin, which debuted in December 2013, has proven to be more than a meme. Based on market capitalization, it has risen to the top of the memecoin rankings. Its user base has also grown significantly. 

The post Elon Musk Reveals Why He Supports Dogecoin, Not Bitcoin. appeared first on Coinfomania.