Meme Coins Face Potential Downturn: On-Chain Metrics Raise Concerns
On-chain data suggests Dogecoin, Shiba Inu, and Pepe could face further price corrections due to low active addresses and high MVRV ratios, indicating overvaluation.
On-chain data suggests Dogecoin, Shiba Inu, and Pepe could face further price corrections due to low active addresses and high MVRV ratios, indicating overvaluation.
As HBO’s Bitcoin documentary series approaches, Dogecoin creator Billy Markus shares his theory about the true identity of Satoshi Nakamoto, suggesting it might be a collective rather than an individual.
Dogecoin is testing critical $0.10 support after a 20% market cap drop, with potential for a significant rebound to $0.16 if the level holds, or further decline if breached.
Ripple’s XRP token reaches a 7-week high, while Bitcoin consolidates below $66,000. Most altcoins experience minor losses, with Dogecoin among the few showing gains.
As Shiba Inu and Dogecoin face market uncertainties, Lunex Network’s innovative DeFi protocol is drawing attention from meme coin investors, promising multi-blockchain compatibility and unique features.
Pepe ($PEPE) outperforms major meme coins like Dogecoin and Shiba Inu, as the meme coin market experiences a significant uptick. Meanwhile, a new contender, Pepe Unchained ($PEPU), enters the scene with innovative Layer 2 technology.
Despite the crypto market’s stability and Bitcoin’s strong position at $63K, Dogecoin’s price forecast for October 2024 suggests a potential 13% drop, challenging the traditional ‘Pumptober’ expectations.
Dogecoin’s transaction volume hits a 3-month high, sparking speculation about a potential altcoin rally. Veteran investors draw parallels to previous market patterns, suggesting DOGE could lead a broader cryptocurrency boom.
As Dogecoin and Shiba Inu face market challenges, investors turn to Rollblock, a promising new altcoin that has seen a 140% surge in its presale, reaching a $2.9M valuation.
Dogecoin’s on-chain data reveals crucial insights into its potential price movements, with transaction volumes, whale activity, and network growth playing significant roles.