- Dogecoin has gained over 6% in the last week having been boosted by the recent remarks by Elon Musk to the US judge.
- Shiba Inu has moved massive volumes in the last 24 hours as the whales look to hold.
April has been a positive month for the memecoins and the crypto market in General. For SHIB, this has been triggered by an increase in whale activity who are looking to hold the coin. In the last 24 hours, SHIB worth about $37.5 Billion has been moved which is quite significant considering only $10.7 billion worth of BTC was moved in the same period of time.
Despite the Shiba Inu whales buying spree, Dogecoin is defending its dominance having doubled in percentage gained over SHIB. Ranked six spots above its meme competitor SHIB, DOGE has seen an impressive 6.3% in the last week.
The gain is likely fueled by reports revolving around Elon musk and his relation to Doge. On the last day of the march, Elon asked a US judge to dismiss the lawsuit case accusing him to be running a Pyramid Scheme. Elon has been well known to be a supporter of the memecoin, which was a significant reason why the coin is in the top ten globally.
DOGE and SHIB
At the time of press, Shib is priced at 0.00001087 registering a slowing momentum in the last day of a slightly over 1% decrease. This however is just over 3% gain in the last 7 days which is quite a positive in comparison to the entire market trend. Shiba Inu is still holding the 14th position with a market cap of $6.4 billion.
Read more: Shiba Inu trillionaire number rises as whales continue accumulation – Manipulation or genuine interest in SHIB?
In the month of March, 6,782,788,547 SHIB were burnt in total “with 540 transactions”. This plus the whales buying and holding activities could potentially drive SHIB to new levels.
🔥🔥🔥 6,782,788,547 $SHIB tokens have been burned in the month of March with 540 transactions. #shib
— Shibburn (@shibburn) April 1, 2023
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Doge is currently Priced at $0.07912 at the time of press which is a 3.3% gain in the last day and 6.3 in the last week. Despite the massive gain compared to the closest rival Shiba Inu the coin, only $1.2 worth of doge has been moved in the last 24 hours.
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