On Satoshi Street, DOGE and SHIB, the top two memecoins, are hosting the biggest celebration. The biggest memecoin in the world is now trading at $0.86 after rising another 15% today. Dogecoin has increased by an astounding 46% over the past week thanks to this price pump.
During the most recent memecoin festival on Satoshi Street. The fun continues.
On Friday, October 28, the American equity market experienced a surprisingly strong run-up on Wall Street. This was enough to allow the surge to be caught up with by the larger crypto market. Ethereum (ETH) is getting close to $1,600 while Bitcoin (BTC) is back up to $20,700.
On Satoshi Street, DOGE and SHIB, the top two memecoins, are hosting the biggest celebration. The biggest memecoin in the world is now trading at $0.86 after rising another 15% today. dogecoin has increased by an astounding 46% over the past week thanks to this price pump.
The price of DOGE is trading above $0.85 for the second time in three months. Retail investors should use caution, though, as Dogecoin faces significant resistance at $0.88. However, a breakout in this area might send the price rocketing higher.
Shiba Inu has all eyes.
Shiba Inu (SHIB), the second-largest memecoin, is also gaining momentum alongside Dogecoin. SHIB is trading 12% higher as of the time of publication with a price of $0.00001176 and a market size of $6.4 billion. Shiba Inu (SHIB) has gained 18% in value over the past week, moving up two spots to become the 13th-largest cryptocurrency by market cap.
According to historical patterns, the SHIB price may soon overtake the DOGE's weekly charted over 50% rally. Santiment, an on-chain data supplier, reports:
There is no disputing that #memecoins like $DOGE (+44% in 7 days) and $SHIB (+19% in 7 days) have had their pump moments, regardless of your position. Dogecoin pumps have typically been followed by #ShibaInus. Check out our chart to see trading volume.
Regarding Bitcoin, the supply of BTC on the exchanges has been falling quite quickly. The quantity of Bitcoin at the exchanges has decreased to a four-year low, according to on-chain data. Santiment writes, As coins continue to move away from exchanges, traders seem comfortable with long-term holding now that #Bitcoin is back above $20.7k. The percentage of Bitcoin on exchanges has dropped to 8.3%, which is the lowest level in four years. October was a significant month for outflow.
