The massive surge in Dogecoin (DOGE) and Shiba Inu (SHIB) drives the meme coin market crazy. The market capitalization of the meme coins has increased by 7.5% recently, with a surge of over 90% in trading volume. This significant market activity highlights the increasing investor interest in the memecoin space.
Dogecoin (DOGE) is Positioned to Surpass the $0.30 Threshold
Dogecoin (DOGE) experienced a massive 98% surge on the weekly chart after Elon Musk fueled the meme coin hype in one of his tweets.
Leading the meme coin market, DOGE value has risen by over 200% since hitting the lower end of its downtrend channel a few months ago. According to Rekt Capital, this breakout indicates that the macro downtrend that was holding back DOGE’s price action has ended.
Experts predict that if whales continue to buy at current prices, the value of Dogecoin will surpass the $0.30 threshold. DOGE is trading just above the Upper Bollinger Band signal. If it manages to break through the crucial $0.25 resistance level, it could be poised for exponential value appreciation in the upcoming weeks.
Crypto Whale Transfers $41 Million Worth of SHIB to Robinhood – 265% Price Increase
Shiba Inu (SHIB with its massive price surge, has been a lead gainer in the meme coin space. A significant transaction by a crypto whale is showing increasing optimism about SHIB. According to On-chain statistics, 1.25 trillion SHIB, valued at $41 million, were transferred from Cumberland to Robinhood by an unidentified party.
Recent developments in Shiba Inu’s ecosystem are also contributing to its exponential success. Shiba Inu is planning to launch a new privacy-focused network built on the Shibarium blockchain. This news was followed by SHIB’s impressive performance, which includes an astounding 265% increase in the past week.
Shiba Inu is expected to maintain the upward trend this week and probably throughout March since technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support the upward trend.
With increasing focus on DeFi, investors are now looking for high-growth opportunities. Emerging algorithmic trading platform Algotech (ALGT) has come in the spotlight due to its high potential.
Algotech Roars Past Presale Expectations With Over $1.9 Million Raised
TradFi platform Algotech has defied market expectations by selling out over 45 Million ALGT tokens in two weeks. The platform raised over $1.9 Million with 5,000 unique holders and is expected to cross $2 Million soon.
Algotech (ALGT) is an algorithmic trading platform that allows users to have access to advanced trading insights. The platform leverages artificial intelligence and blockchain technology to provide unparalleled advantages to traders. Some of the key features include breakout detection, mean reversion, and high-volume arbitrage.
The presale is currently in high-demand as investors rush to buy ALGT tokens for $0.06. In the next stage, the price will go up to $0.08 due to deflationary tokenomics. Some analysts expect the token price to rise to $1 once the project is listed on major exchanges, which makes this the ideal time to become a part of the project.
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