What Is Going On With Dogecoin And Shiba Inu?
Portfolio Pulse from Khyathi Dalal
Dogecoin (DOGE) and Shiba Inu (SHIB) have been slipping in the crypto rankings despite a slight increase in meme coin market capitalization. Dogecoin dropped to the ninth position, and Shiba Inu fell to the 13th. Both coins face challenges, with Dogecoin not being integrated as a payment option on X (formerly Twitter) and Shiba Inu lacking real-world utility. Large transaction volumes for both coins have been noted, with significant transfers to and from major exchanges like Robinhood and Binance.
June 28, 2024 | 5:54 pm
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Binance received a transfer of 1.08 trillion SHIB worth $18.4 million, indicating significant trading activity for Shiba Inu on the platform. This could lead to increased transaction volumes and revenues for Binance.
The large transfer of Shiba Inu to Binance suggests increased trading activity, which could boost Binance's transaction volumes and revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Robinhood has seen significant transfers of Dogecoin, with 95 million DOGE worth $12.9 million moved to its platform. This could indicate increased trading activity and interest in Dogecoin on Robinhood.
The large transfer of Dogecoin to Robinhood suggests increased trading activity, which could boost Robinhood's transaction volumes and revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80