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SHIBA INU
2 minute read
Shiba Inu Spiked 700,000%, Dogecoin 194,000%: Can This Repeat in 2024?
Sahana Kiran
Sahana Kiran
February 22, 2024
ShiBA iNU
Source – Bankrate
In the dynamic realm of cryptocurrency, few occurrences captivate attention quite like extraordinary price surges. Shiba Inu (SHIB) and Dogecoin (DOGE) have been prominent players in such surges, witnessing remarkable percentage gains in recent times. Now, investors are left wondering: Could this phenomenon recur in 2024?

Shiba Inu’s Journey
As of the latest update, SHIB has experienced a slight decline of 0.97% in the past 24 hours. Currently, its value is resting at $0.0000097. Despite attempts by bullish traders to breach the $0.00001 threshold and potentially eliminate a zero from SHIB’s price, the coin faced resistance over the weekend, halting its upward trajectory.


Source
Throughout the preceding year, Shiba Inu has encountered volatility, evidenced by a significant 28% decrease. Nonetheless, with the year still in its infancy, there remains ample opportunity for potential growth. Unlike its explosive performance in 2021, SHIB didn’t capture widespread mainstream attention in 2020. However, 2021 saw a seismic shift as the cryptocurrency market experienced a frenzy fueled by social media hype, retail investor involvement, government stimulus, and a pervasive fear of missing out (FOMO). This frenzy propelled Shiba Inu to a staggering 700,000% surge in price throughout the year. It went on to thrust it into the spotlight of speculative fervor.

Also Read: Dogecoin Founder Denies Ties With New Shiba Inu-Inspired Project

Dogecoin’s Resurgence
Conversely, Dogecoin (DOGE) has been undergoing a revival following a prolonged downturn. Starting the week with notable momentum, the original meme-based cryptocurrency has surpassed Bitcoin and other altcoins, boasting a 7.10% increase in the past seven days and trading at $0.08821. Notably, DOGE has reclaimed its position among the top 10 cryptocurrencies by market capitalization.



Source
Initially conceived as a playful joke in 2013 by Billy Marcus and Jackson Palmer, Dogecoin swiftly amassed one of the largest and most passionate communities in the cryptocurrency sphere. Its appeal extends to influential figures such as Elon Musk, the billionaire entrepreneur behind Tesla, SpaceX, and X (formerly known as Twitter), who has publicly endorsed the coin and voiced support for cryptocurrency development initiatives. In 2020, Dogecoin experienced a remarkable surge of 194,000%, solidifying its status as a resilient presence in the crypto market.

The Future of Memecoin Phenomena
As investors contemplate the prospects for 2024, the potential for another surge in meme-based cryptocurrencies looms large. While past performance does not guarantee future outcomes, the allure of significant gains in the cryptocurrency space continues to attract both seasoned investors and newcomers alike. Whether it’s Shiba Inu, Dogecoin, or perhaps a different meme coin altogether, the possibility of explosive growth remains an enticing prospect in the ever-evolving digital asset landscape. As always, investors are urged to approach speculative investments with caution and conduct thorough research before committing capital.

Also Read: Shiba Inu: SHIB Turns $3,600 Into $19 Million in 3 Years

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Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.

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DOGECOIN
2 minute read

Dogecoin: How High Can DOGE Surge In March 2024?

Sahana Kiran
Sahana Kiran
February 22, 2024
Dogecoin
Source – Unsplash
Dogecoin (DOGE) supporters and investors are closely observing the asset’s behavior as March 2024 progresses. DOGE is currently struggling to maintain its position above the $0.08 mark, following a 10% decline on Feb. 21, prompting market participants to closely analyze its trajectory in the forthcoming weeks.

Despite this recent setback, data from on-chain sources indicates that large-scale investors, colloquially known as “whales,” are continuing to amass significant quantities of DOGE, demonstrating a steadfast belief in the coin’s long-term viability despite short-term fluctuations. At present, DOGE is trading at $0.08516, marking a modest 1% increase in its daily value.

Forecasting Dogecoin’s Trajectory
Changelly’s technical analysis provides insights into the expected trajectory of Dogecoin prices throughout 2024. According to their projections, the anticipated lower limit of Dogecoin’s value is estimated to be $0.0719. However, the upper boundary could potentially reach $0.0807. The average trading price is predicted to hover around $0.0896. This offers a glimpse into the potential price range for DOGE in the coming months.


Also Read: Dogecoin Founder Denies Ties With New Shiba Inu-Inspired Project

March 2024 Projections
Cryptocurrency experts are preparing to unveil their forecasts specifically for Dogecoin’s price movements in March 2024. Initial evaluations suggest that the minimum expected trading value for DOGE during this period may fall around $0.0742, with the possibility of reaching a maximum of $0.0847. On average, analysts anticipate that Dogecoin’s value could stabilize at approximately $0.0794 throughout March.

Managing Market Volatility
While these forecasts provide valuable insights for investors, it’s imperative to approach them with caution due to the inherent volatility of the cryptocurrency market. DOGE’s valuation can be influenced by numerous factors, including market sentiment, regulatory changes, and broader economic indicators.

As enthusiasts eagerly await Dogecoin’s performance in March 2024, the cryptocurrency remains a focal point of interest. With forecasts indicating a potential range of price fluctuations, investors are encouraged to remain informed, exercise prudence, and employ sound risk management practices when engaging with dynamic digital assets like Dogecoin. Staying abreast of market developments and conducting thorough research will continue to be crucial for making well-informed investment decisions in the realm of cryptocurrencies

Also Read: Shiba Inu Spiked 700,000%, Dogecoin 194,000%: Can This Repeat in 2024?


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Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.

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