Our column dedicated to analyzing the value of the cryptocurrency world and its most important projects continues. Today we will talk about Dogecoin (DOGE), Shiba Inu (SHIB) and Cardano (ADA).
Dogecoin (DOGE), Shiba Inu (SHIB) and Cardano (ADA) values and market statistics
Let’s start with the analysis dogecoin value: The world’s most popular meme coin has been fairly stable as far as last week, down just 0.81%.
However, in the last 24 hours, it seems to be trending positively. The price he rose 2% and is currently at $0.726.
According to market statistics, Dogecoin has a market capitalization of $10.1 billion and a daily trading volume of $188.7 million over the past 24 hours.
The circulating supply is very large, with an average holding period of 117 days, amounting to 139.4 billion DOGE.
SHIB has also been fairly stable, but has been a little more unbalanced than DOGE over the past week, losing nearly 3% of its value.
of current value Shiba Inu meme coin is $0.00000877.
According to market statistics, it has a capitalization of $5.2 billion and a trading volume of $88.5 million in the last 24 hours.
The circulating supply is even larger than Dogecoin at 589.5 trillion SHIB, with an average holding period of 250 days.
It can be said that Cardano has had a bad week, but ADA has also been very stable over the past week, rising 1.5% in current value. its price It’s $0.37.
In terms of market statistics, ADA has a capitalization of $12.9 billion and a 24-hour trading volume of $184.9 million.
The circulating supply is 34.9 billion ADA with an average holding period of 203 days.
As a continuation of the article, we will provide the latest news related to the mentioned project.
Dogecoin’s daily trading volume surpasses Bitcoin and Litecoin to reach all-time high
In an unexpected turn of events, Dogecoin (DOGE) hit an all-time high in daily trading, surpassing Bitcoin (BTC) and Litecoin (LTC) in trading volume, an important milestone.
The meme-inspired cryptocurrency experienced an incredible surge in transaction activity with an incredible 650,000 transactions per day. This surge can be attributed to the growing trend of stuffing the Dogecoin network with tokens and assets.
Initially created as a lighthearted and fun cryptocurrency, Dogecoin has caught the attention of the cryptocurrency community, not just because of its charismatic Shiba Inu mascot and its widespread use in philanthropic endeavors.
The recent surge in transactions highlights its growing utility as a medium of exchange and robustness as a blockchain network.
The surge in daily transactions on the Dogecoin network goes hand in hand with the trend of stuffing its blockchain with tokens and assets.
This practice includes using Dogecoin’s blockchain for purposes other than the native DOGE cryptocurrency, such as issuing tokens, conducting decentralized finance (DeFi) activities, and hosting non-fungible tokens (NFTs). increase.
By leveraging the capabilities of the Dogecoin blockchain, developers and users are exploring new possibilities and extending the functionality of the platform.
One of the key factors contributing to Dogecoin’s attractiveness in token stuffing is its low transaction fees.
Compared to Bitcoin and Litecoin, Dogecoin has significantly lower transaction fees, making it an attractive option for individuals and projects looking to leverage blockchain technology without exorbitant costs. .
Low fees help transactions flow smoothly, increase activity on the network, and ultimately lead to record-breaking daily transaction volumes.
Another factor that has led to Dogecoin’s increased transactional activity is its strong community support.
Known for its dedicated and engaged members, the Dogecoin community embraces the trend of cramming tokens and assets onto the network.
We actively participate in various projects such as creating decentralized applications (dApps) and issuing our own tokens and NFTs.
As Dogecoin enthusiasts continue to explore and expand the network’s capabilities, this community-driven growth has contributed significantly to the increase in daily transactions.
Despite its origins as a meme-based cryptocurrency, Dogecoin’s rise in daily transactions shows its potential as a versatile blockchain platform.
While Bitcoin and Litecoin remain dominant in terms of market capitalization and adoption, Dogecoin’s recent success has strengthened Dogecoin’s ability to handle increasing numbers of transactions and serve as an alternative platform for token issuance and decentralized activity. I am emphasizing it.
However, it is important to note that an increase in daily trading does not necessarily translate into long-term sustainability or an increase in the value of DOGE. As with any investment, investors should be cautious and conduct thorough research before making any financial decisions.
In conclusion, Dogecoin surpassed Bitcoin and Litecoin in daily trading to reach an all-time high. The surge in transaction activity can be attributed to the trend of stuffing the Dogecoin network with tokens and assets.
Low transaction fees and community support make Dogecoin’s blockchain an attractive platform for a variety of projects and activities.
While this milestone demonstrates Dogecoin’s potential as a versatile blockchain network, investors should approach the cryptocurrency market with caution and make informed decisions based on thorough research and an understanding of the risks involved. A decision must be made.
SHIB burn rate increased by over 26,000% in the last 24 hours
Shiba Inu (SHIB), the second largest memecoin in the world, has experienced a surprising surge in burn rate.
According to data provided by Shibburn, a platform that tracks token burning activity, SHIB’s burning rate has surged by more than 26,000% in the last 24 hours.
This sudden surge has caught the attention of investors and cryptocurrency enthusiasts around the world.
A total of 3,034,309,519 SHIB tokens were burned through two major transactions during the day.
This huge burn rate will have far-reaching implications for the circulating supply of SHIB and trends in the cryptocurrency market as a whole.
Burn rate refers to the process of removing tokens from circulation by sending them to a non-recoverable address, effectively reducing the total supply of cryptocurrency.
Token burning is a common method employed by many blockchain projects to increase scarcity and potentially increase the value of tokens remaining in circulation.
The rapid increase in SHIB burning rate can be attributed to a number of factors. First, the SHIB community has been actively involved in promoting and encouraging burning activities.
This includes initiatives such as “Shiboshi,” where participants voluntarily burn their tokens as a token of their support for the project.
A spike in burn rate indicates a high level of token destruction, potentially leading to increased scarcity.
This could have a positive impact on the value of SHIB and market sentiment. However, it is important to note that the cryptocurrency market is highly volatile and subject to rapid fluctuations.
This development will carefully consider the overall sustainability and utility of SHIB before making investment decisions.