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Dogecoin, one of the top meme coins in the cryptocurrency market, has experienced a significant rise in price thanks to “dogefather,” Elon Musk's response to a dog-themed tweet.

Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term.

Data shows the Dogecoin and Shiba Inu whales have moved around massive of coins amounts today, a sign that dumping may be going on. Dogecoin And Shiba Inu Whales Have Transferred Huge Amounts According to data from the cryptocurrency transaction tracker service Whale Alert, several large SHIB and DOGE transactions have occurred during the last 24 hours.

One of DOGE's core developers said "sustained and growing pressure on Dogecoin will cause this to die off quickly."

Dogecoin's (CRYPTO: DOGE) network activity hit an all-time high earlier this week, with a tenfold surge in daily transactions. The cryptocurrency, considered the first "meme coin," briefly surpassed both Bitcoin (CRYPTO: BTC) and Litecoin (CRYPTO: LTC).

Dogecoin rose to a one-week high on Wednesday, despite cryptocurrency markets mostly moving lower. As of writing, the global crypto market cap is trading nearly 1% lower. Xrp also surged, climbing by over 6% in today's session.

Dogecoin Price Analysis: In response to broader market choppiness, the Dogecoin price has been moving sideways for over a week. The multiple short-body candles in the daily chart reflect indecisiveness among traders and no sign of a potential rally.

Dogecoin's daily transactions rose to a lifetime peak of over 645,000 on Sunday after a new token issuance mechanism was launched on its Blockchain. This was ten times higher than the average daily volume earlier in the week, exceeding BTC and Litecoin transactions before returning to previous levels by Wednesday.

A leading analytics firm says the current frenzy surrounding the frog-themed memecoin Pepe (PEPE) remains dwarfed by past Shiba Inu (SHIB) and Dogecoin (DOGE) manias. In a new analysis, crypto analytics firm Santiment notes that PEPE's peak daily trading volume in the past few weeks was $2 billion.

Elon Musk posted a dog-themed meme in response to a "Doge tweet" posted by Twitter user @EPavlic. The Twitter user tagged Musk and Dogecoin co-founder Billy Markus.

Whale transactions moving millions of Shiba Inu (SHIB) and Dogecoin (DOGE) meme coins were noticed today, May 17. Whale Alert reported four transactions moving 5 trillion SHIB worth $43,615,00 each.

The world of cryptocurrency always has a few surprises up its sleeve, and this time it is a big one. There has been some fascinating activity involving the fifth largest holders of Shiba Inu (SHIB) and Dogecoin (DOGE), where it appears that the same entity is behind both wallets.

In a groundbreaking development, Dogecoin, the cryptocurrency famous for its playful Shiba Inu mascot, has achieved a significant milestone by reaching new all-time highs in daily transaction volume. This record-breaking feat follows the introduction of DRC-20 tokens, which have injected newfound excitement and increased activity into the Dogecoin ecosystem.

Dogecoin network's daily transactions hit a record high, peaking at over 719,000 with users minting meme tokens via an Ordinals-like system.

In an effort to improve the misgivings of the existing traditional finance platforms, Tesla (NASDAQ: TSLA) and Twitter (NYSE: TWTR) CEO Elon Musk is planning to introduce a more efficient financial system by converting Twitter into an ‘everything app' that includes messaging, payments, and commerce, called ‘X.'

Our column dedicated to the analysis of the value of the crypto world and its most important projects continues: today we will talk about Dogecoin (DOGE), Shiba Inu (SHIB) and Cardano (ADA).

Transactional volumes on Dogecoin briefly surpassed Litecoin and Bitcoin earlier this week.

Dogecoin (CRYPTO: DOGE) developers on Tuesday hinted at the next release for LibDogecoin version 0.1.3, the building block for direct integration of DOGE into various platforms. What Happened: The previous version, 0.1.2, was released in March last year and the upcoming release is expected to have new features.

Major cryptocurrencies were trading in the green on Tuesday evening despite concerns of a looming recession. Cryptocurrency Gains +/- Price (Recorded 9:30 p.m.

Compared with Shiba Inu and Dogecoin, PEPE's impressive performance still lacked attention.

The Dogecoin (DOGE) price can catalyze a sharp fall with a breakdown from a long-term support line

Although cryptos enjoyed strong performances earlier, a lack of fundamental catalysts may apply some pressure on the sector.

Bitcoin Ordinals and BRC-20 tokens are not new yet and have not been very popular in the past. Modelled after ERC-20 on Ethereum, this protocol lets participants mint fungible and non-fungible tokens on Bitcoin.

Simulating a version of BRC-20 protocol, crypto enthusiasts are able to inscribe digital relics onto the canine token.