DeFi News Official TheBitTimes.com

Tech billionaire Elon Musk has said that his social media platform X (formerly known as Twitter) is a Dogecoin (DOGE)-friendly place. As a result of Musk’s comment, DOGE’s price briefly rallied by 3.25%, reaching $0.064 earlier today. JUST IN: Elon Musk says X (Twitter) is a $DOGE friendly place. — Watcher.Guru (@WatcherGuru) August 23, 2023 Musk’s tweet has already gotten investors riled up, as they usually do. 25.69 million DOGE were purchased within just one minute of Musk’s tweet. Also Read: Dogecoin, Bitcoin, Binance Among Popular Hashtags on Crypto TikTok X is a dog & Doge friendly place! — Elon Musk (@elonmusk) August 23, 2023 Musk has been very vocal about his support for DOGE. He had even unveiled plans for a Dogecoin -themed project for his space exploration company, SpaceX. However, Musk’s support for DOGE has also landed him in tight situations. The billionaire was sued by investors who accused him of ins...

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps? The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins. Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingView Meme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility. F...

Dogecoin is currently trading at $0.07 and is among the least-performing digital assets of 2023. DOGE has barely rallied, delivering little to no gains to investors in the last eight months. The meme coin spurted in price a few times but quickly shed its gains in less than 24 hours. Also Read: Shiba Inu: What’s the First Thing You’ll Do When SHIB Reaches $0.01? Source: Coingecko While the first eight months were disastrous for DOGE, will the next four months change its fortunes? In this article, we will highlight how high or low Dogecoin could trade by the end of 2023. Dogecoin: Price Prediction For December 2023 Source: Benzinga Leading on-chain metrics and price prediction firm Changelly has painted a bearish picture for DOGE. The forecast suggested that Dogecoin could trade at the same $0.07 by the end of December 2023. According to the prediction, Dogecoin could trade flat in the next four months of the year, barely delivering any profits. That’s a downturn of...

The new week has brought in new hope along with it. Traders and investors expect to see a break-out in either direction in the days to come. At press time on Monday, the crypto market pendulum was more inclined toward the bullish side. The aggregate capitalization was seen inching towards $1.2 trillion, owing to a 2.15% bump over the past 24 hours. Dogecoin was one of the many beneficiaries of the broader recovery. At press time, it was trading at $0.07325, up by more than a percent on the daily. A lot of Dogecoin -related shuffling has been taking place of late. A large participant transferred DOGE tokens in 8 batches containing 680 million tokens each recently. One set was worth around $50 million. Around the same time, Robinhood’s Dogecoin holdings have depleted from 24% to 16%. In fact, a few hours back, another significant DOGE transaction involving around 620 million DOGE took place. Usually, shufflings from one wallet to the other do not impact the price of the a...

In the current crypto economy, two of the most well-known meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB). Currently, DOGE sits atop the throne of meme cryptocurrencies, with a market cap of $11,889,054,523. It has a current price of $0.08554, according to CoinMarketCap.  Source: Barron’s However, according to CNBC, SHIB may be set to overtake the top dog coin spot above DOGE in a year. Both coins have dominated the meme coin market over the last few years. Right now, both have some of the largest fan communities in the crypto world. But the fans behind SHIB seem to be growing at a much more rapid pace. This is especially since the summer of 2022. In turn, the value of Shiba Inu has grown as well.  Right now, however, Dogecoin still holds a significant lead of more than six billion dollars in market capitalization over SHIB. On the other hand, as CNBC Analysis suggests, due to Shiba Inu’s initiatives of “unique use cases,” that lead can shrink towards the end of this year en...

The original meme coin stands as one of the most recognizable digital assets in the industry. Yet, as Dogecoin (DOGE) continues its journey toward $1, experts believe that RenQ Finance (RENQ) could hit the milestone earlier. Specifically, Analytics Insight has reported on the strong growth potential in the digital asset that could see it surpass DOGE. Conversely, the social implications of the meme coin, and its connection to entities like Elon Musk, question the theory. DOGE and the Dollar Source: CoinBureau.com Created in 2013, there are few digital assets as well known as Dogecoin . The popularity of the meme coin exploded in 2021, with Elon Musk and other high-profile figures championing its potential. Now, investors are awaiting its potential surge to the highly coveted dollar. Currently, Dogecoin is trading at $0.074, which is down more than 84% from its all-time high of $0.44 in June of 2021 according to Ledger. Moreover, the current market cap of the beloved m...

There’s magic in numbers and numbers are magical in the world of cryptocurrencies. While some turn filthy rich in a short period, others go pauper holding on to it for the long term. There’s no rule book on how to be a millionaire in the cryptocurrency markets, as one size does not fit all. One such example is Dogecoin . The meme-coin skyrocketed to $0.73 in May 2021 making early investors turn into millionaires in a short period. Now that the boat has sailed and Dogecoin is down nearly 90% from its all-time high, can the meme-currency still make you earn $1 million? Let’s find out! Also Read: How Many Zeores Did Shiba Inu Delete From March 2022 to 2023? Can Dogecoin Make You Earn $1 Million? Source: TechStory.com Dogecoin delivered explosive returns in the past, but the past isn’t a good indicator to forecast the future of finances. The meme-currency was launched in December 2013, and it took early investors nearly eight years to see their investmen...

One of the biggest Dogecoin whales transferred a massive chunk of DOGE during the early hours of Feb. 26th. The whale moved nearly 191 million Dogecoin s from a decentralized platform to the leading cryptocurrency exchange Binance. The transfer was initiated in a single transaction, and the coins transferred are worth $15.5 million. The whale is among the top 20 biggest holders of Dogecoin in existence. The transfer comes a day after another whale moved 359 million Dogecoins in three different transactions on Feb. 24th. You can read more details about the whale transfer here. Also Read: Dogecoin: What Could Doge Price Be In 2030? Source: dogechain.info Despite the large transfers, its price has remained sideways, with no sudden spikes in the indices. Dogecoin has barely shot up in price this year and went from $0.06 to $0.08 since the start of January 2023. Its performance is meager compared to the other cryptocurrencies that rallied hard in 2023. Several cryptocurrencies...

Bitcoin and select altcoins are showing signs of a possible recovery in the near term but higher levels may continue to attract sellers. As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative.  Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities Markets may remain “sideways” and choppy in 2023. He expects “one or more retests of the 2022 low, but not necessarily much worse than that.” Daily cryptocurrency market performance. Source: Coin360 The cryptocurrency market has been largely correlated with the S&P 500 in 2022. Unless both markets decouple, the sideways or negative action in the equities markets may not bode well for the cryptocurrency market. Analysts remain divided on the future price action for Bitcoin (BTC). While some expect a recov...