A recent report examines whether Dogecoin (DOGE) and Shiba Inu (SHIB) cryptocurrencies have peaked. According to this report, DOGE and SHIB were characterized as having reached their peak of best free crypto signals when the hype around playful cryptocurrencies disappeared. The same report also proved that the leading positions of Shiba Inu and Dogecoin among the larger joke-based cryptocurrencies have peaked and the hype doesn’t last forever.
Why are Dogecoin and Shiba Inu falling?
Dogecoin and Shiba Inu have experienced a huge drop in recent days. Dogecoin fell 7% and Shiba Inu fell 10%, is this a sign that these two cryptocurrencies are steadily declining? – expert of SafeTrading.
According to researchers of SafeTrading, investors in these giveaways have finally understood what Dogecoin and Shiba Inu really are, and therefore should not be taken seriously. ” he decreed. Continuing with the researchers’ report; Presumably, these two jokes indicate that interest in cryptocurrencies has declined, which is why the first correction took place in recent weeks. After this correction, investor interest in Dogecoin and Shiba Inu continues to decline.
Overall, the report shows that Dogecoin and Shiba Inu tokens are bought and then sold by large whales, that is, large investors who collect most of the existing cryptocurrencies and then sell them by best free crypto signals with great return on investment. In short, these people disperse the market and then let it crash.
Why are cryptocurrencies falling?
In fact, this report is not the first to say that the cryptocurrency meme is declining. According to InvestorPlace.com, which said that since Dogecoin has recently bottomed out, other dog-based coins will drop as well. At the time, InvestorPlace.com: “When DOGE rises, everyone else does the same.”
Will DOGE and SHIB grow again?
There are some claims that a fall in the Shiba Inu will lead to higher prices as more buyers will invest as the value will fall dramatically. There are also forecasts that next year prices will continue to fall and possibly rise. In both cases, Dogecoin and Shiba Inu can explode or become completely useless as they are among the cheapest cryptocurrencies. That’s why it’s always good to be careful.
XRP growth due to false listing on Coinbase Pro
XRP price hit a new daily high of 1.24 after a 14% spike in 10 minutes before dropping to $ 1.10. The jump in the price of the seventh-largest cryptocurrency was linked to a false listing warning on Coinbase Pro. A technical glitch or error on the Coinbase side made traders see an opportunity to trade XRP on the platform.
The crypto platform took notice of the glitch and explained that they are not actually switching XRP. In January, after the SEC filed a lawsuit against Ripple, most crypto platforms removed XRP from their trading lists to avoid any legal trouble with the SEC. However, demand for a repeat XRP sheet has now grown significantly as the SEC threatens Coinbase with legal action over unlisted loan products.
There are also those who cite activity as one of the main reasons for the recent jump in the 7th largest digital currency in the world. The total number of active addresses has increased dramatically over the past few days. Cryptanalytics platform Santiment stated:
XRP is up 10% at time of writing, a slight pullback and now another uptrend. An excellent consistent leading metric for XRP is targeted activity. When the number of unique addresses suddenly spikes, prices tend to rise in the medium term. ”
- In addition to the rise in targeted activity, XRP whale activity has also increased significantly over the past few days. Today a leading cryptocurrency wallet has transferred 83.2 million XRP to an unknown wallet. The total cost of translation is currently around $ 94 million. In a separate transaction, the whale XRP account has moved over 10 million XRP coins worth over $ 13 million from the Upbit crypto exchange to Bittrex.
- In addition, Solana’s digital asset (SOL) surpassed the $ 60 billion market cap yesterday and is now more valuable than XRP. After an all-time high, the SOL index underwent a major correction and fell more than 10%. On the other hand, the demand for XRP has increased over the same period. The market cap gap between Solana and XRP is currently around $ 3 billion.
DYdX (DYDX) overview
DYDX is the governance token that allows the dYdX community to truly manage the dYdX Layer 2 protocol. DYDX provides shared control over the protocol, allowing investors, liquidity providers and dYdX partners to collaborate on an extended protocol.
What is dYdX (DYDX)?
dYdX states that it is currently the leading decentralized exchange that supports lending and borrowing as well as perpetual, margin and spot trading. dYdX works with smart contracts on the Ethereum blockchain and allows users to make transactions without intermediaries.
Decentralized borrowing and lending is already available on DeFi through popular platforms such as MakerDAO and Compound, but dYdX is focused on building better transaction tools on the Ethereum blockchain. As with other DeFi products, the dYdX protocol is available for use and development.
It was the most popular decentralized margin trading platform with a peak of 150,000 ETH (over $ 30 million at the time) locked in smart contracts in November 2019. As of April 2020, over 500 million transactions have been recorded on the platform.
Unlike margin operations, dYdX lending is considered passive and low risk. With dYdX, lenders automatically receive interest every time a new block is mined. Any funds deposited into the platform will earn an uninterrupted interest on each block and can be withdrawn at any time without any minimum requirement.
- Like almost any other DeFi product, dYdX only requires an Ethereum wallet like MetaMask and some ETH to use it.
- The cryptocurrency has garnered a lot of attention lately, listing dYdX on major exchanges such as Binance and OKEx. Of course, at the moment, the importance of the team and the project behind the platform is considered great.
- According to SafeTrading, the DYDX coin, which was trading at $ 12.08 per dollar at the time of publication, is also trading at 0.0002618 BTC per bitcoin (BTC). It can be stated that the DYDX coin reached its highest level since $ 15.99 on September 9, 2021.
- In addition, among the announcements made, the total number of dYdX coins will be 1,000,000,000 dYdX coins, and there are currently 76,216,127 dYdX coins in circulation.
How and where to buy dYdX coins?
dYdX Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy dYdX coins, you must first be a Binance member and then send fiat money. After sending fiat currencies such as rubles or dollars, purchases can be made in the dYdX trading pair, receiving Bitcoins (BTC), BUSD, Binance Coin (BNB) and Tether (USDT) where dYdX Coin is traded.