The DOGE logo graphically references an internet meme depicting a Shiba dog. In turn, Shiba is a memecoin. These are analyzed, in addition to XRP.
Below are the prices and the latest news related to cryptocurrencies. Dogecoin (DOGE), Shiba Inu (SHIB) and Ripple (XRP). It is worth remembering that Dogecoin is the cryptocurrency that became famous also thanks to Elon Musk. Similarly, Shiba Inu is also an altcoin: a cryptocurrency other than Bitcoin, based on an internet meme.
Ripple, on the other hand, is a real-time funds transfer system, a network for exchanging currencies and sending remittances, created in 2012 by Ripple Labs.
Dogecoin Price Traded at Crucial Level: Better than Buddy Shiba Inu, but Much Worse than Ripple (XRP)
DOGE price is trading below a major resistance confluence at $0.077-$0.080. So if it appears or is rejected, it could determine the future price trend. Dogecoin price has broken below a long-term descending resistance line since reaching its all-time high of $0.739. The decline led to a low of $0.049 in June 2022.
DOGE price has now broken down below the $0.080 resistance area. This is a very important horizontal level that has acted intermittently as support and resistance since 2021. Finally, the weekly RSI is just below 50, a sign of a downtrend.
As a result, the long-term trend is yet to be determined. If the internet meme coin breaks above the $0.080 area, the resistance line would confirm that the trend is up. In that case, a raise to $0.115 may follow.
On the other hand, a break below the rising support line would indicate that the trend is down. In that case, a drop towards $0.050 could follow.
Koyo Burns 733 Million Shiba Inu in 24 Hours
Beyond 758.95 million Shiba Inu (SHIB) burned 733.02 million in the last 24 hours in a record transaction. In a stunning move, the Shiba Inu community staged a mass burning event, taking a record 758.95 million SHIBs out of circulation through nine separate transactions in 24 hours.
The newly launched token primarily powered the Burn token, Koyo (KYO) which executed the largest transaction of the day, by transferring 733.02 million SHIB to the wallet approximately 12 hours ago.
This burn event marks the largest transaction of the week. In the previous week, Koyo burned a record SHIB on March 17 by destroying 924.15 million coins in a single transaction.
Messari in Favor of XRP: Ripple Should Win against the SEC
The CEO of the Crypto Data and Research Platform Messengers caused excitement and surprise within the XRP community, as he sided with Ripple and the XRP Ledger.
Ryan Selkis tweeted yesterday that he is more aligned with Ripple than ever, stating that Ripple will win the long legal battle with the US National Securities and Exchange Commission, as XRP is a security.
He also hoped that such a result would allow the XRP Ledger to compete fairly as a digital payment network. “The question is there!” Selkis speculated on his tweet referring to XRPL.
It is worth noting that Messari’s latest pro-Ripple comment follows his own report on the XRP Ledger, which has also created quite a stir within the trading community. In addition to showcasing the capabilities of the network, the report emphasized that it has handled up to 2.9 billion transactions, averaging around 1.2 million per day in the fourth quarter. Furthermore, he also revealed that XRPL accounts are approaching 4 million.
By Audy Castaneda
