The broader digital currency ecosystem is in the long-term integration stage, with a total market value maintaining a growth rate of 0.27%, reaching $1
The broader digital currency ecosystem is in the long-term integration stage, with a total market value maintaining a growth rate of 0.27%, reaching $1.05 trillion. DOGE is the first meme coin in the industry, but its contribution to this growth is minimal as it has only grown by 1.02% in the past 24 hours, with prices rising to $0.06305.
Is Dog Coin the Weakness of the Meme Coin World?
Dogcoin may only maintain a conservative dominant position in the broader digital currency ecosystem; As is well known, it exhibits many impressive movements when performed alone. From the current on chain data, and based on its continued enthusiasm for comprehensive trading volume, memes are ready for the next parabolic run.
However, the recovery of Dogcoin will benefit from another unique trigger - a bullish tweet by Elon Musk. Although Dogcoin is a major digital currency with its own community and leanings, Elon Musk still seems to be the most influential figure, responsible for most of the price changes in Dogcoin in recent years.
Musk's triggering is uncertain and may occur at any time. However, if this happens, it can amplify most of the fundamentals currently displayed by the token.
The Impact of Dog Coin on Whales
DOGE rose 2.35% and tens of millions of dog coins were transferred to Coin An
In addition to Elon Musk, dog coins can also benefit greatly from the recent doubling of whale bets in the market. As reported earlier in USA Today, large account holders have accumulated a significant amount of DOGE to help buffer the supply of memes in circulation.
This buffer is crucial for helping to increase the price of the asset, and if the posts of DOGE and Musk are combined, we can expect the price of the primary meme to rise significantly.
For more information, please follow me in the skirt
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
