BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Dogecoin (DOGE) Price Claims Support While Shiba Inu (SHIB) Price Struggles to Overcome Resistance

Dogecoin (DOGE) Price Claims Support While Shiba Inu (SHIB) Price Struggles to Overcome Resistance
2023 started on a good note for crypto a , and meme coins have not been left out. But the impact of the price increase has been felt differently by holders of the two largest memes coins – Dogecoin and Shiba Inu.



Data from blockchain analytics firm IntoTheBlock shows the percentage of holders in profit for the two major meme coins differs. While 64% of Dogecoin holders are currently holding at a profit, only 45% of SHIB holders are still profitable.



Dogecoin (DOGE) Price Soars 35% in 30 Days



Dogecoun price performance has seen it rise by around 35% in the last 30 days, reaching a high as $0.099 for the first time since December 2022 . Still, DOGE has retraced to $0.0952 as of press time.



The recent uptick in DOGE price is due to several factors, including general market performance and the possibility of Twitter supporting crypto payments.



Source: BeInCrypto



Elon Musk has instructed Twitter developers to build a payment system that supports crypto . Musk is also reportedly working on Twitter Coins. This is said to be a digital asset that would be used for tipping and payments on the social media platform.



The price increase Dogecoin experienced in the last 30 days has helped it claim a significant area of support. IntoTheBlock’s Global In/Out of the Money reveals that over 830,000 addresses purchased over 78 billion DOGE around $0.075. As long as this important demand wall continues to hold, Dogecoin could be positioned for further gains .



Source: IntoTheBlock



It is worth noting most token holders – around 74% of them – have held DOGE for over a year, while 3% of all token holders acquired DOGE in the past month. These metrics suggest that Dogecoin investors have strong hands and may not be deterred by price volatility.



Shiba Inu (SHIB) Holders Are in the Red



In contrast to Dogecoin, most Shiba Inu holders are holding SHIB at a loss. On-chain data from IntoTheBlock shows that 55% of all addresses who have acquired SHIB are “Out of the Money” while 45% are “In the Money.”



Source: IntoTheBlock



Data from the blockchain forensics also suggests that the biggest concentration of SHIB tokens were acquired at around $0.000017. If Shiba Inu were to overcome this important supply barrier, it may gain the strength to advance further given the lack of significant resistance ahead, according to BeInCrypto’s Global Head of News Ali Martinez.




#ShibaInu will find stiff resistance at $0.000017, where nearly 93,000 addresses had previously purchased around 465 trillion $SHIB . Once #SHIB clears this supply barrier, it will be positioned to climb higher as @intotheblock 's GIOM shows no other major resistance ahead. pic.twitter.com/heUXX50ifP — Ali (@ali_charts) February 4, 2023




Further data reveals that most SHIB holders invested when Shiba Iny was trading higher. Around 63% of SHIB holders have held the token for more than a year. Meanwhile, 33% of all SHIB holders have held it for less than 12 months.
The post Dogecoin (DOGE) Price Claims Support While Shiba Inu (SHIB) Price Struggles to Overcome Resistance appeared first on BeInCrypto .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Dogecoin (DOGE) Price Claims Support While Shiba Inu (SHIB) Price Struggles to Overcome Resistance


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script