What's Going On With Dogecoin And Shiba Inu This Week?
Portfolio Pulse from Khyathi Dalal
Dogecoin (DOGE) and Shiba Inu (SHIB) are experiencing mixed signals with potential bullish trends. Dogecoin is trading in a falling channel with a pending golden cross, while Shiba Inu saw a significant movement of 137.7 billion SHIB to Binance. Despite volatility, 73% of Dogecoin holders are in profit, and Shiba Inu's large transaction volume surged by 127.2%.
August 12, 2024 | 6:04 pm
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POSITIVE IMPACT
Dogecoin is trading in a falling channel with a pending golden cross, indicating a potential bullish trend. Despite price volatility, 73% of holders are in profit, and trading volume increased by 43% over the past 24 hours.
The pending golden cross and increased trading volume suggest a potential bullish trend for Dogecoin. The fact that 73% of holders are in profit despite volatility adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shiba Inu saw a significant movement of 137.7 billion SHIB to Binance, sparking speculation. Large transaction volume surged by 127.2%, and transactions over $100,000 more than doubled. However, the burn rate dropped by 96%.
The significant movement to Binance and surge in large transaction volume indicate increased activity and interest in Shiba Inu. However, the drop in burn rate could temper some of the bullish sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100