According to data from on chain analysis company Santiment, the activity of whales holding meme inspired cryptocurrency Dogcoin (DOGE) has skyrocketed near the key price level of $0.087
According to data from on chain analysis company Santiment, the activity of whales holding meme inspired cryptocurrency Dogcoin (DOGE) has skyrocketed near the key price level of $0.087. According to data from on chain analysis company Santiment, over $1 million in transactions have been made around this level 38 times.
It is worth noting that cryptocurrency market data shows that shortly after the completion of whale trading, the price of cryptocurrencies inspired by memes skyrocketed. According to CryptoCompare data, the current trading price of DOGE is $0.09 per token.
Dog coin is a cryptocurrency created in 2013, inspired by the popular Chaigou meme "dog" at that time. The blockchain of cryptocurrency is built using the basic technology of Litecoin (LTC). Litecoin is a cryptocurrency, commonly known as the silver of Bitcoin gold.
In 2021, after influencers related to the popular WallStreetBetsubsubreddit called on users to try to push cryptocurrencies up to the $1 mark, search interest in DOGE surged. This gathering has fueled the flames of social media, and many people have joined the ranks of DOGE.
Tesla and SpaceX CEO Elon Musk acquired Twitter earlier this year, which to some extent drove the rally. As reported by CryptoGlobe, Caldano founder Charles Hoskinson stated that Twitter's acquisition may bring an additional 200 million users to the cryptocurrency industry, and the platform may use DOGE.
Earlier, BN CEO Zhao Changpeng explained that the cryptocurrency exchange had invested $500 million in Elon Musk's Twitter acquisition to "help bring Twitter into Web3 when they are ready".
CZ detailed that BN's investment in Twitter "started a few months ago" and added that there are many reasons BN supports this transaction, including Twitter being "a global platform for freedom of speech, which is very important"
The exchange subsequently launched the "BluebirdIndex", a cryptocurrency index used to track the performance of its own token BNB, as well as dog coins and a little-known cryptocurrency called MaskNetwork.
The name bluebird implies the logo of Twitter, and the index components include the original token of Binance, a meme inspired cryptocurrency famous for supporting Elon Musk, and a "allow its users to send encrypted messages through Twitter and Facebook and" act as a bridge between the Internet and the decentralized network running on it. "
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