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Dogecoin, Shiba Inu-Led Meme Economy Hits $56 Billion as Cycle Peaks. The meme coin economy, led by top cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB), has recently surpassed $56 billion in market capitalization. On-chain analytics firm Into TheBlock draws attention to this development, noting that the total market capitalization for the meme coin category recently hit a cycle peak of over $56 billion. This has now been surpassed, with the total meme token market capitalization presently at $59.33 billion, according to CoinMarketCap data. While the broader cryptocurrency market saw relatively lesser gains, meme coins recently embarked on an impressive rally. Originally launched as a joke in 2013, Dogecoin, the first parody coin, paved the way for the meteoric rise of similar tokens. Dogecoin gained traction in late March, reaching highs of $0.228, tripling its value in a couple of weeks. Dogecoin has lost some of its gains, dropping 3.48% in the previous 24 hours to $0.184. This is similar to Shiba Inu, which saw a whopping 300% price surge in the previous month, reaching highs of $0.00004575 on March 5. SHIB jumped into the top 10 following this feat but has since retreated. SHIB is now the 12th largest cryptocurrency, with a market cap of $16 billion. Dogwifhat, a relatively new meme coin established in the Solana ecosystem in November of last year, has also received a lot of attention during the recent meme token price surge. Dogwifhat (WIF), the third largest meme token by market capitalization, reached an all-time high of $4.85 on March 31. Meme currencies are incredibly volatile and are known for their lack of fundamentals. This makes them susceptible to sudden and unanticipated fluctuations caused by random events such as tweets, unrelated news and the market moves of other coins. Unlike other meme coins, dog-themed cryptocurrencies such as Dogecoin and Shiba Inu have continually improved on fundamentals through the release of various innovations, providing utility and thus relinquishing their "meme coin" status.

Dogecoin, Shiba Inu-Led Meme Economy Hits $56 Billion as Cycle Peaks.

The meme coin economy, led by top cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB), has recently surpassed $56 billion in market capitalization.

On-chain analytics firm Into TheBlock draws attention to this development, noting that the total market capitalization for the meme coin category recently hit a cycle peak of over $56 billion.

This has now been surpassed, with the total meme token market capitalization presently at $59.33 billion, according to CoinMarketCap data. While the broader cryptocurrency market saw relatively lesser gains, meme coins recently embarked on an impressive rally.

Originally launched as a joke in 2013, Dogecoin, the first parody coin, paved the way for the meteoric rise of similar tokens. Dogecoin gained traction in late March, reaching highs of $0.228, tripling its value in a couple of weeks. Dogecoin has lost some of its gains, dropping 3.48% in the previous 24 hours to $0.184.

This is similar to Shiba Inu, which saw a whopping 300% price surge in the previous month, reaching highs of $0.00004575 on March 5. SHIB jumped into the top 10 following this feat but has since retreated. SHIB is now the 12th largest cryptocurrency, with a market cap of $16 billion.

Dogwifhat, a relatively new meme coin established in the Solana ecosystem in November of last year, has also received a lot of attention during the recent meme token price surge. Dogwifhat (WIF), the third largest meme token by market capitalization, reached an all-time high of $4.85 on March 31.

Meme currencies are incredibly volatile and are known for their lack of fundamentals. This makes them susceptible to sudden and unanticipated fluctuations caused by random events such as tweets, unrelated news and the market moves of other coins.

Unlike other meme coins, dog-themed cryptocurrencies such as Dogecoin and Shiba Inu have continually improved on fundamentals through the release of various innovations, providing utility and thus relinquishing their "meme coin" status.

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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Solana (SOL) Might See Epic Rally If This TD Sequential Signal Holds. Solana (SOL) is currently not in a positive spot as its price slump has extended the trailing 7 day losses to 10.37%. At the time of writing, this loss appears to be thinning out, however, there is a projection of a likely change in trend. Solana Bullish Revival Is Imminent. In the financial market, the rise and fall in prices is one key feature that has formed a law. While there may be extended periods of drawdown, there is often an imminent rebound. In the case of Solana, top market analyst Ali Martinez has weighed in. According to Martinez, Solana price has hit a major support level at the $141 mark. Taking a look at the Solana chart, the coin dropped to a 24-hour low of $140.12 and recorded a high of $145.54. The $140 price point comes off as the lowest Solana has recorded in the past month. As it stands, the $141 price point if serving as a key support to prevent further slumps. The tides turned swiftly for SOL following the selloff that Bitcoin has recorded recently. After trading for $163 over the past week, immediate succor is needed for long traders with liquidated positions. Judging by the on-chain signals from TD Sequential indicator, Martinez posited that a buy signal has emerged on the daily chart. This is a bullish signs considering the SOL bears are facing exhaustion from selling. According to the analyst, if the $141 support holds, SOL might print 1 to 4 more daily candlesticks. This insight is crucial for the coin as it might help market watchers gauge the potential trends. SOL Boost Amid Memecoin Revolution. Every blockchain protocol have their go-to catalyst for growth. Despite the many Solana congestion challenges suffered in the first quarter, Solana is back on its feet with a mainnet fix. One of the most ambitious ways to showcase this strength is through memecoin explosion. While Ethereum (ETH) and Binance Smart Chain (BSC) has their run, Solana is now reigning as the memecoin network to watch.
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Cardano (ADA) Price: Next Major Support Unveiled as Market Dips. The cryptocurrency market is currently under selling pressure, and Cardano, the 10th-largest cryptocurrency, is no exception. At the time of writing, ADA was down 2.38% in the previous 24 hours to $0.411. Recent on-chain data has pinpointed a critical support level for ADA, shedding light on a significant price range where a substantial volume of ADA was acquired. According to on-chain analytics by Into The Block, the next critical support level for Cardano is between $0.371 and $0.403. This range is particularly noteworthy because it marks a zone where 2.6 billion ADA were purchased by 251,280 addresses. The average buying price within this range is approximately $0.386. The concentration of buying activity within this price range typically suggests that a significant number of investors are likely to defend this price zone, providing a robust support level for Cardano. The indicated support zone could potentially arrest the current downward trend and provide a basis for a price rebound. Notably, this support halted ADA's price decline during the mid-April Washout. ADA is presently trading just above this key support zone, with recent price action testing these levels. That said, a sustained price above $0.386 could indicate that the market is respecting on-chain data signals, possibly leading to a consolidation, or upward movement. Conversely, a break below this range might lead to further declines. As the market awaits ADA's next price move, on-chain data has provided a clear indication of where the next support might be found. Whether this support zone will hold or give way under market pressure remains to be seen, but it undoubtedly represents a key area to watch in the days ahead.
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DOGE Price Prediction for June 15. DOGE/USD. The price of DOGE has declined by 4% over the last day. On the hourly chart, the rate of DOGE is near the local resistance level of $0.1371. If it breaks out, the upward move may continue to the $0.14 zone tomorrow. On the bigger time frame, neither bulls nor bears are dominating. At the moment, one should pay attention to the $0.13 zone. If it breaks out happens, the correction may lead to the test of the $0.1225 support. From the midterm point of view, sellers remain more powerful than buyers. If the weekly bar closes around current prices, traders may witness a test of the $0.12 zone. DOGE is trading at $0.1367 at press time.
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SHIB Insider Reveals Game-Changing Shiba Inu Update. In a recent tweet, Shiba Inu team member Lucie recently revealed a crucial update regarding the Shiba Inu collectible card game Shiba Eternity. According to Lucie, the Shiba Eternity play-to-earn version is rapidly approaching its launch. Enthusiasts can already experience a taste of the game through its mobile version, where players can play and engage in training activities and earn Kibbles. However, the blockchain version of Shiba Eternity is expected to bring an entirely new dimension to the game, offering unique features that will set it apart from the mobile experience. Lucie outlined some hypothetical features of the blockchain version of Shiba Eternity. In the blockchain version, the upcoming Shiba Inu token, Treat is expected to play a significant role. While the specifics are still under wraps, Treat tokens could be integral to gameplay mechanics and rewards. The blockchain version will likely incorporate BONE, another token in the Shiba Inu ecosystem, allowing users to shop within the game using BONE. This feature could enhance the utility of BONE and create more demand for the token. Ownership of Shiboshis, the exclusive Shiba Inu NFTs, will be a key aspect of Shiba Eternity. Players will only be able to play with specific Shiboshis if they own the corresponding NFT or rent it from holders. This mechanism not only emphasizes the importance of Shiboshi NFTs but also creates a potential rental market within the game. In addition, the Kibbles earned in the mobile version will become TREAT in the blockchain version, aligning with the in- game economy and enhancing the overall gameplay experience. The blockchain version can potentially revolutionize how players interact with the Shiba Inu ecosystem and, according to Lucie, might drive transaction volumes and enhance token utility. The game's mechanics may include features that lead to SHIB burns, potentially reducing the circulating supply and increasing the token's value.
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