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    Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days

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    Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days

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    In only the past week, ALGO has grown by a whopping 30%. Some may not be surprised by this development, as Algorand collaborated with FIFA to create FIFA+ Collect, a platform where fans can buy digital collectibles in the form of NFTs. There has been a dramatic impact on the environment as a result of this alliance. A tweet from @intotheblack shows that the number of unique addresses that have completed their first transaction for ALGO has increased from 5,000 to 20,000. There has been an increase in the cost of ALGO because to the increased number of transactions using unique addresses. As of this writing, the price of one coin is somewhere between the 23.60 and 38.20 Fibonacci retracement levels, or about $0.3949 and $0.3724. There is no denying the ripple impact that this collaboration has on all of Algorand. But will the agreement lead to additional price increases, or is this simply a temporary boost? Image: NFTgators ALGO Gets Boost From FIFA+ Collect The price of ALGO increased by 31.18% in a matter of hours on the press day of the FIFA+ Collect release. To sum up, the coin is up 27.54% from September 22nd when trading began till today, September 26th. As of this writing, ALGO is trading at $0.3662, down 5.8 percent in the last 24 hours, data from Coingecko show, Monday Information provided by Santiment suggests that the cooperation has an impact beyond only the pricing. Algorand’s NFT sector has witnessed a dramatic increase in activity. From September 21 to September 22, the total volume of NFT trades surged from $186,000 to a staggering $606,000. Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit This is not the only positive development for the ALGO token and the Algorand ecosystem in general. The TVL of ALGO observed an increase in staked tokens. From September 22-24, the TVL increased from $234 million to $263.69 million. The Algorand ecosystem also had a significant overhaul. Additionally, the ecosystem implemented the State Proof procedure. This version provides an additional layer of protection against quantum threats and enables the development of “decentralized bridges” to connect Algorand to other blockchains. ALGO Bullish Momentum Subsiding? At the time of writing, the coin’s price has already reached above the double-bottom support level at $0.3687. This may indicate that the bullish momentum has waned and the bears are currently taking the driver’s seat. Considering this, ALGO can fall to a relatively secure position near the 50 Fib level. This level will serve as the token’s support. However, it cannot fall below the indicated Fibonacci level, as this would indicate a bottom on September 22. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why ALGO total market cap at $2.25 billion on the daily chart | Source: TradingView.com Featured image from Forkast, Chart: TradingView.com

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    Shiba Inu Adds Nearly 36,000 Holders Since June Despite Crypto Market Turmoil

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    Shiba Inu Adds Nearly 36,000 Holders Since June Despite Crypto Market Turmoil

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    The price trend of Shiba Inu has been following the rest of the cryptocurrency market and remains negative. Notably, SHIB is still seeking to reclaim the high points it reached last year, when the value and popularity of the meme coin surged. As of this writing, SHIB is trading at $0.00001145, down 4.5% in the last seven days, data from Coingecko show, Sunday. Despite the crypto market’s sluggish condition, a portion of the dog-themed coin’s investors are optimistic that the asset will recover and are boosting their coin purchases while ignoring the market’s weakness. According to data from CoinMarketCap, as of September 24, SHIB has 1,226,031 holding addresses, representing an increase of around 35,835 new holdings over the course of three months. The new holders represent a 3% increase from the 1,190,195 who were registered on June 26. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Shiba Inu: Increasing Use Case In addition to the prospect that new SHIB holders may wager on the coin’s appreciation, investors are likely drawn by SHIB’s rising utility. It is worth mentioning that interest in meme-based cryptocurrencies waned as a result of unfavorable publicity around the coins’ supposed lack of utility. Since June, Shiba Inu’s value has been on a roller-coaster ride, but the price has mostly remained low. The coin’s three-month high price was $0.000017 on August 15, and as of the time of writing, it had gained about 5% in the last 24 hours. Previously, the majority of retail investors liquidated around the price and then sought entry points as the memetoken approached $0.00001. Due to the massive concentration of tokens in the hands of small and medium-sized whales, Shiba Inu faces a significant increase in selling pressure whenever it succeeds to breach past local resistance barriers. Holding On To The Meme Coin Meanwhile, around 30% of SHIB investors have held the asset for more than a year, according to statistics from Into The Block. Despite the ongoing bear market, investors have generally abstained from disposing of their coins. These holders are fostering a bullish mood among investors while aiming to eliminate SHIB as a quick-profit asset. As of the time of writing, the trading volume of Shiba Inu is still declining, hence the token’s volatility remains high. The decline in trade volume is unfavorable for a coin that heavily depends on speculative appeal. As the number of SHIB holders increases, it appears that interest in the coin is waning. Google Trends data indicates that global searches for the keyword “Shiba Inu” decreased to their lowest level in the past 12 months, suggesting that SHIB could be losing its most avid fans. Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? SHIB total market cap at $6.27 billion on the daily chart | Source: TradingView.com Featured image from Daily Pets Care, chart from TradingView.com

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    Dogecoin Must Cling To This Level Lest DOGE Slip Quickly To $0.048

    2021

    Dogecoin Must Cling To This Level Lest DOGE Slip Quickly To $0.048

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    Dogecoin (DOGE) has been swirling downwards since the latter part of 2021, specifically in November. DOGE is currently up by 0.88% or trading at $0.06247 Dogecoin has been trailing down since November 2021 DOGE showing some bearish movement DOGE has been on a rollercoaster ride with up and down sequences. The popular dog meme coin is seen to have rallied the previous month generating double-digit gains in terms of percentage. One significantly rally is in August when DOGE managed to surge from a low of $0.059 peaking to a high of $0.087. Dogecoin is currently sitting in a demand zone seen since July. According to CoinMarketCap, DOGE is up by 0.88% or trading at $0.06247 as of this writing. With the rate it’s going, Dogecoin may possibly maneuver towards the $0.07 zone. Related Reading: Bitcoin (BTC) Must Make It Past This Threshold To Bounce Back DOGE Likely To Take Detour Towards Bears On a longer market timeframe, DOGE is looking bearish while Bitcoin is similarly showing some weakness. DOGE was able to take a full grip on the support zone but it seems that the momentum is taking the detour towards the bears. Now, Bitcoin has always made a strong influence on the performance of DOGE and other altcoins. With that being said, it moves alongside Bitcoin regardless of whether the king of crypto wings it or crashes down. Source: TradingView From July to August, DOGE is seen to have lingered in the range of $0.063 to $0.07. As of press time, BTC is still facing strong hurdles at the $20.4k and $20.8k levels. With that being said, if Bitcoin can successfully blaze past these levels then DOGE will have better chances of moving higher on the charts. Dogecoin’s CMF Shows Intense Selling Pressure In August Technical indicators for DOGE are showing a bearish perspective. Additionally, RSI has also moved down the 50 zone as seen in the past couple of days which validates the coin’s bearish momentum. Similarly, OBV isn’t showing signs of slipping as it firmly held on to the key support line that it has been sitting in for the past few months. CMF also has displayed intense selling activity in August. Further, the Bollinger Bands is shown to spike which indicate intense volatility following DOGE’s slump from the $0.085 mark. In any case, if OBV can’t stay on the support zone in the next few weeks, then DOGE might plunge below $0.055. It’s important for DOGE to remain at the $0.061 level which has been particularly been pivotal in the months of February and March in 2021 because once DOGE loses its grip on those key levels, the meme coin can drop sharply to the $0.049 and $0.05 levels. Related Reading: Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days Crypto total market cap at $952 trillion on the daily chart | Source: TradingView.com Featured image from Finance Magnates, chart from TradingView.com

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    Dogecoin Unseated From No. 10 Spot In Rankings – Can DOGE Stay Relevant?

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    Dogecoin Unseated From No. 10 Spot In Rankings – Can DOGE Stay Relevant?

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    Dogecoin (DOGE) has been recently pushed aside by Polkadot (DOT) from the top cryptocurrencies list as it is now the 11th biggest crypto in terms of market cap. DOGE’s market value is currently at $9.28 billion after it sadly had to let go of its position which is now held by Polkadot with a market value of $9.62 billion. According to CoinMarketCap, the DOGE price is 1.09% down or at 0.06899 as of this writing. DOGE price remained the same despite the positive sentiment in the crypto space spiked by the support of Elon Musk, among other things. Michi Lumin, Developer of Dogecoin, has recently announced the release of a C library of DOGE building blocks coined as Libdogecoin. This library allows Dogecoin to integrate into different platforms. Related Reading: TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month Elon Musk Says DOGE Has Real Value In one of his appearances on the podcast “Full Send”, Elon Musk, billionaire entrepreneur and CEO of Tesla, once again pressed on with his unrelenting support for DOGE.   “I’m mainly supporting Doge, frankly,” Musk said. Musk reiterated that Dogecoin isn’t just a dog meme coin; it is not a joke because it has real utility value. He also said that in comparison to Bitcoin, DOGE has a much bigger transaction volume. Since early August, the price of DOGE hasn’t moved significantly because it’s been hindered by $0.075. The crypto market seems to be in a coma as it is being bombed by a lot of macroeconomic problems. But, as other meme projects have no utility value and the token prices are mostly impacted by social media or a popularity vote from influencers and other celebrities, investors aren’t so sure if they should invest long-term in these dog meme coins. Dogecoin Lags Behind DOGE is lagging behind in terms of growth. At the beginning of July, the DOGE price is at $0.066. SHIB grew by 17% but DOGE price only registered a growth of 1.4%. DOGE token market cap only increased a bit from $8.77 billion to just $9.06 billion. On July 31, DOGE had 73,800 active addresses that grew by as much as 13% or around 105,000 addresses at one point on July 28. DOGE was able to close July with a plunge in transaction volume by 96% or 1.53 DOGE. The social dominance of DOGE increased by 8.49% after the price racked up to $0.75. DOGE price plunged by 61% as social dominance nosedived by 3.3%. DOGE’s social volume further declined by as much as 63%. Developmental transactions within the Dogecoin network grew by 80% despite the lack of ecosystem updates. Related Reading: Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline? DOGE total market cap at $9.24 billion on the daily chart | Source: TradingView.com Featured image from Zipmex, chart from TradingView.com

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    Dogecoin Falls After Musk-Twitter Deal Fails, Will It Weaken Further?

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    Dogecoin Falls After Musk-Twitter Deal Fails, Will It Weaken Further?

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    Dogecoin (DOGE) tumbled on Saturday as the implosion of Elon Musk’s Twitter buyout dashed prospects for the memecoin’s mainstream adoption. DOGE tumbled over 4% after the news, and is now trading around $0.069. The token appears to be showing more muted reactions to Musk’s announcements in recent weeks. Musk called off the deal late on

    The post Dogecoin Falls After Musk-Twitter Deal Fails, Will It Weaken Further? appeared first on CoinGape.

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    This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation

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    This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation

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    And everybody was saying keep an eye on this specific Altcoin and yes — Sifchain – and they were right.  Sifchain (EROWAN), a low-cap DeFi altcoin, skyrockets by 47% in the wake of the staleness in the general crypto markets. EROWAN has bounced from a low $0.114 on April 23 and is currently at $0.168. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% What is Sifchain (EROWAN)? At the 271st level of all cryptocurrencies, SifChain has been on its seven-day high streak at 47%. SifChain is now at a price point that is above resistance; it may be nearing its volatility period once the rally is over. SifChain has been trading on low volumes over the course of seven days but it now has an extremely bullish sentiment score and is continuously rising. Many traders are anticipating the market behavior of Sifchain EROWAN as it has become a high-performing Altcoin despite the immobility of Bitcoin, Ethereum, and all other stablecoins. Altcoin Saves Investors From Egregious Fees Sifchain is the first-of-its-kind omni-chain decentralized exchange (DEX) geared towards digital assets and altcoins that enables liquidity, freeing investors from ridiculous trading fees and immature trades. Sifchain has set eyes on roughly 20 to 25 blockchains to facilitate cross-chain integrations. Crypto total market cap at $1.84 trillion on the weekend chart | Source: TradingView.com The only way for DAOs to be self-subsistent is to get their hands on enormous funding. Enabling cross-chain liquidity is important for continuity in the blockhain space. Sifchain is from the Cosmos Software Development Kit (SDK) and runs along others like Akash, Kava, and Terra in the Cosmos Network Blockchain network. EROWAN – 100x More Powerful Than ETH-Based DEXs With that being said, EROWAN is 100 times more powerful and robust compared to Ethereum-based DEXs when considering transaction speed and trading fees. As a DEX, Sifchain has the best of worlds in terms of order books and liquidity pools enabling solid order execution. Users are bound to leave a protocol once the APYs plunge which makes it very difficult to maintain its liquidity. Majority of protocols incentivize liquidity by way of annual percentage yields of APYs. Suggested Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Now, the problem with keeping the APYs relatively high is that it results in casting aside the native token price. PMPT is the solution to this dilemma. PMTP’s goal is to pump up the ROWAN value so that the community would be encouraged to HODL which will beef up ROWAN liquidity for the long term. To do this, the ROWAN exchange rate is adjusted by small increments on the Sifchain. PMTP applies every time you swap. As the market value of ROWAN shoots up, the swaps also increase in value over time. Featured image from Medium, chart from TradingView.com

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    Bitcoin Falls Below $38,000 As Tech Stocks Sell-off

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    Bitcoin Falls Below $38,000 As Tech Stocks Sell-off

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    The price of Bitcoin fell below $38,000 on April 26 as tech-related stocks were some of the hardest-hit assets. As a result, traders were cautious to see if Bitcoin could hold its “macro-level support” zone. Elon Musk’s purchase of Twitter news created hype in the crypto industry on April 25. Bitcoin and many other altcoins had responded to this, especially Dogecoin, which saw an impressive surge in price. Related Reading | Institutional Investors Bearish On Bitcoin, Ethereum. Here’s What They’re Buying As the hype surrounding Elon Musk’s purchase of Twitter faded, the cryptocurrency market and wider global financial markets fell under pressure on April 26. This caused people to become concerned about the state of the global economy again. The recent fall in cryptocurrency prices was matched by the sharp losses sustained among tech stocks. On April 26, tech-related stock asset Nasdaq lost 4% of its value, hitting a new low of 2022.  According to TradingView, Bitcoin (BTC) held support at $40,500 through the early trading hours on April 26. However, in afternoon trading, the price of Bitcoin (BTC) dropped 6.21% to hit a low of $38,009. The decline on April 26 is the continuation of the weakness of financial markets. The stock market has been on a decline this month. The S&P 500 is down 7%. The Nasdaq declined 11%, and the Dow is nursing a 3% loss. The downturn in Faang Stocks (Facebook, Amazon, Apple, Netflix, and Google) has dragged the wider market down. The recent 35% reduction in the price of Netflix on April 20 highlighted a major problem with the “strong markets” statement. Bitcoin May Test Macro Range Low Bitcoin’s price drop on April 26 has made some analysts think that we are headed for a bottom in the market, but not everyone agrees. For example, crypto analyst Rekt Capital says that the price may test a significant support zone. Rekt Capital tweeted; BTC is right back at the long-standing macro Higher Low support. Additionally, the analyst says that Bitcoin is still trading within the range it has been stuck in since the beginning of the year. Therefore, there is still a lot of support in the lower $30,000 range. Related Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout The DXY, a measure of the US dollar’s performance against other global currencies, is currently at its highest price in two years. This indicates that the US dollar is doing well compared to other global currencies.  A crypto analyst Miles J Creative said in a tweet; Dollar coming into the danger zone. To the moon or goblin town? The market’s future depends on how the dollar performs in the future. In addition, the dollar will be affected by inflation, supply chain disruptions, and the global conflict in Europe. Bitcoin is currently trading above $39,000 with a $746 billion market cap. Overall, crypto market capital is $1.79 trillion.   Featured image from Pixabay, the chart from tradingview.com

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    SHIB Soars 10% As Whale Buys 219 Billion Tokens

    Acquisition

    SHIB Soars 10% As Whale Buys 219 Billion Tokens

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    BlueWhale0073, an Ethereum investor, continues to invest in Shiba Inu, purchasing 219 billion meme tokens. The whale also made a purchase of 50 billion SHIB on 20th April. His most recent acquisition of the canine cryptocurrency is almost 5x bigger than the one made last week. WhaleStats has confirmed that an impressive amount of SHIB (219,332,229,787) equivalent to $5,454,792 was sent to the whale’s wallet. He had earlier added 86 billion SHIB worth $2,111,500 to his wallet on April 23.   Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter The owner of the “BlueWhale0073” wallet is one of the biggest buyers of SHIB. The whale has bought over 2 trillion Shiba Inu between April 10 and April 23.  However, the transaction page shows that the whale has already sold most of his SHIB tokens, leaving him with less than one billion Shiba Inu — 906808367.54 worth $22,010. As per the wallet page, 90% of its inflowing and outgoing cryptocurrency comes from SHIB. BlueWhale0073 is not the only Ethereum whale investing in Shiba Inu; other whales have been buying up the meme coin recently. For example, on April 25th, whale “Bombur” acquired 52 billion SHIB worth $1,178,967. Following Dogecoin, SHIB Also Increased by 10% The Shiba Inu rose 10.09% on Monday following a massive surge in Dogecoin. DOGE had skyrocketed after reports that Twitter had accepted Elon Musk’s bid to buy the social media giant. The news of Elon Musk’s purchase on Twitter saw Dogecoin spike over 13% in minutes. After these pumps, the billionaire had officially confirmed it, prompting money to pour into Dogecoin. The price of Dogecoin has continued to rise in value, with the past 24 hours showing an increase of around 32%. The coin is currently trading at $0.164.  Dogecoin maintained most of its gains, but SHIB has already lost a portion of yesterday’s profit. Shiba Inu is currently trading at $0.00002413.   Related Reading | TA: Ethereum Reclaims $3K, Can The Bulls Clear This Key Hurdle Shiba Inu Creates New Burn Mechanism To Get Reward The creators of the SHIB coin have released a burning mechanism that allows token holders to burn their tokens while earning passive income. If investors want to burn their SHIB tokens, they can use the Shiba Inu burning portal. This will send their tokens to a burn address, where they will be lost forever. This effectively introduces a way to reduce the total number of tokens in circulation, making them scarcer and more valuable. Featured image from Pixabay and the chart from Tradingview  

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