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In what could be a knock-on effect from the traditional market, which saw the Japanese yen tumble to a 34-year low against the U.S. dollar, leading cryptocurrencies such as Bitcoin, Solana, and Dogecoin all saw their prices drop in the last 24 hours.
Crypto analyst Kevin (formerly OG Yomi) has suggested that Dogecoin (DOGE) could record a 2,500% rally in this bull cycle. As part of his analysis, he highlighted key price targets that the meme coin could attain in this bull run.
DOGE, the largest meme cryptocurrency by market cap, has witnessed a notable downturn this week amid Bitcoin's post-halving correction. The Dogecoin falling for five consecutive days tumbled, the price from $0.164 high to $0.146 registering an 11.17% loss.
It looks like the euphoria around meme coins might be finally gone. Out of the 10 worst performing categories on CoinGecko, five are associated with meme cryptocurrencies.
This meme token is trading at a huge discount to its all-time high.
Recent analytics report shows that the flagship cryptocurrency Bitcoin has left behind its rivals from the top 10 list — the original meme coin DOGE and Cardano's native PoS token ADA.
Shiba Inu vs Dogecoin: The meme coin sector appears to have piqued notable interest among crypto market traders and investors globally, as this year kicked off on an optimistic note for this particular crypto sector. Amidst a flurry of price rallies witnessed in meme coins, the prominent rivals Dogecoin and Shiba Inu have nabbed substantial
The attention other memecoins are getting may invalidate a parabolic move for Dogecoin.
Recent on-chain data has shown a transfer of 456 million DOGE tokens into crypto exchange Coinbase amidst a flurry of Dogecoin whale transactions across various exchanges in the past 24 hours. The price of DOGE has majorly traded below the $0.165 price level in the past seven days despite the price uptick among other meme coins.
Cryptocurrency markets are trading down on Friday, alongside a drop in total short crypto liquidations to the lowest levels since February 2024. One week after the Bitcoin Halving, exchange net flows for Bitcoin witnessed a major drop of 227% to $114 million.
Dogecoin (DOGE) opened trading at $0.15 on April 26 after a third consecutive day in decline. Rival memes BONK and PEPE hit double-digit gains for the week.
Influential community participants of the Dogecoin Community (known as Mishaboar) warned the meme coin investors of the potential risks when the coins are claimed to be under intellectual property rights.
In the midst of the meme coin super cycle frenzy, swing trader Picolas Cage has taken a stand against meme coins, arguing that they are harmful to the overall cryptocurrency ecosystem. What Happened: "They are disinteresting from a technical perspective and don't offer anything other than a pure ponzi," the trader writes, emphasizing their lack of substance.
Mishaboar, a key figure in the Dogecoin (DOGE) community, has issued a warning about the dangers of memecoins claiming intellectual property rights. In a recent statement, he stressed that memecoins cannot be controlled through ownership of intellectual properties.
Dogecoin gets caught up in a massive digital asset offloading chronicle, putting investors on edge.
Dogecoin and Shiba Inu have experienced mixed performance over the past few days, yet analysts are bullish about the upcoming trend of these memecoins, citing fundamental developments. As Bitcoin price continues to face bearish pressure around the $64K mark, Dogecoin and SHIB prices struggle in initiating a rebound above support level.
Bitcoin and altcoins could be en route to retest their recent strong support levels as bears try to extend the correction.
A prominent member of the Dogecoin community, Mishaboar, has raised a flag of caution regarding meme coins that claim to own intellectual property (IP). This advisory comes at a critical time when the market is flooded with various meme coins, each vying for investor attention.
Bulls seem unwilling to give up so easily, according to CoinMarketCap.
Since 2021, Dogecoin (DOGE) has consistently been one of the largest cryptocurrencies in the market. The token has attracted tens of billions in investment and is up more than 27,000% since its launch.
In a recent poll assessing the impact of Elon Musk's acquisition of Twitter, Dogecoin creator Billy Markus, known by the nickname Shibetoshi Nakamoto, provided insights into the platform's transformation. Markus, reflecting on the two-year anniversary of the billionaire's merger agreement with Twitter, indicated a positive shift in his experience, citing financial gains.
Crypto analysts are pointing to a fascinating trend in Dogecoin's historical performance that could hint at potential price targets for the current bull cycle. According to the analysis, Dogecoin has consistently reached or surpassed the 1.618 Fibonacci extension, which currently projects a target of $3.80 for this cycle. Dogecoin Aim For $3.
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have seen mixed monthly performance, but analysts remain optimistic about these tokens based on upcoming fundamental developments. What Happened: Shiba Inu announced its transformative upgrade for Shibarium, set to launch on May 2, aiming to enhance user experience and unlock next-level capabilities within the network.
Dogecoin is struggling to rise above the $0.1650 resistance zone against the US Dollar. DOGE could decline heavily if it settles below the $0.140 support.
