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You are here: Home / Archives for Dogecoin

Dogecoin

Dogecoin Dream Turns Sour as $3 Million Becomes $50K

August 25, 2023 by Aditya

Glauber Contessoto, famously known as ‘SlumDOGE Millionaire,’ was inspired to join the Dogecoin trend after Elon Musk actively endorsed the cryptocurrency on Twitter in 2020. He took a bold step by investing $250,000 in the meme coin, putting in all his savings and even using his credit card. This investment turned out to be remarkably successful, as his holdings surged to a peak of $3 million.

I used to have $3 Million in #Dogecoin

Now it’s $50,000

What happened?

😣 pic.twitter.com/tOw2pNTPaI

— SlumDOGE Millionaire (@ProTheDoge) August 23, 2023

Deciding to stick with his investment strategy, Contessoto chose not to sell his holdings. Unfortunately, Dogecoin’s value has since plummeted by over 90% from its highest point of $0.73 in May 2021. As a result, the worth of Contessoto’s holdings has drastically dropped, reaching as low as $50,000. Expressing his frustration, he shared a tweet conveying this situation. Following his tweet, the cryptocurrency community responded with various opinions. Many people advised him to sell his holdings, but Contessoto countered by explaining, “If that were my intention, I would have sold well before reaching the first $1 Million, haha.”

Unforeseen Losses Haunt Dogecoin Investors

Repeatedly, the Dogecoin community has expressed confidence in the cryptocurrency’s ability to reach the one-dollar mark. However, its upward trajectory has consistently faced obstacles. The most recent endeavor was expected to materialize yesterday, prompted by Elon Musk’s tweet mentioning X (formerly Twitter) as a “Doge friendly place.” While this announcement briefly provided some relief, its impact was short-lived.

As of the current moment, DOGE is being traded at $0.063873, reflecting a daily increase of 2.2%. It’s noteworthy that the meme coin has encountered a decline of 16.5% over the last 30 days. In this scenario, approximately 55% of DOGE holders find themselves incurring losses, while only 41% are realizing profits.

Dogecoin

Moreover, the prevailing pattern is likely to persist due to the prevalence of bearish sentiment outweighing bullish sentiment in the DOGE market. According to IntoTheBlock, bullish addresses refer to those that have accumulated more than 1% of the trading volume within the past 24 hours. Conversely, bearish addresses indicate those that have sold over 1% of the trading volume within the same 24-hour period

Filed Under: News, Altcoin News Tagged With: Crypto, Cryptocurrency, Dogecoin

Dogecoin’s Potential Surge On The Horizon? Elon Musk’s Latest Remark Makes Waves

August 23, 2023 by Mishal Ali

Tesla CEO Elon Musk has once again taken to Twitter to voice his support for the beloved meme coin Dogecoin. Known for his significant influence on the digital currency markets, Musk’s latest comment has stirred up speculation of a potential surge in Dogecoin’s value.

Throughout the years, Elon Musk has consistently displayed his support for Dogecoin, often resulting in considerable fluctuations in the coin’s price following his statements. This time around, Musk’s remark has reignited discussions about the meme cryptocurrency’s future trajectory.

The catalyst for this latest buzz was a tweet from Musk’s mother, Maye Musk. In her tweet, she playfully suggested that “X” is the place to be for dogs. Seizing the opportunity for another witty comment, Elon Musk replied that “X” is indeed a “dog & Doge friendly place.” This interaction between mother and son has set the crypto community abuzz with speculation.

X is a dog & Doge friendly place!

— Elon Musk (@elonmusk) August 23, 2023

Some optimistically speculated that the platform might soon integrate Dogecoin for payments, emphasizing its growing acceptance in mainstream financial discussions. Others proposed that the Dogecoin emblem find a place of prominence on the mentioned platform.

Will $DOGE officially be the next Payment option for X payouts aside stripe?

As the king of Memecoins, how much can it push itself alongside $SHIBA, $PEPE & FLOKI to ignite the Memecoin liquidity space?

Will $DOGE fuel the next bull run as the revenue share Meta heats up? https://t.co/WxpjWbvmvZ pic.twitter.com/sUdAxhkeSh

— DeFi | NFTs Crypto Boss💥 (@GibsoonCorp) August 23, 2023

The sentiment was summed up by one community member who exclaimed, “Much wow, such freedom! Thank you for your Doge support, Elon & X fam.” Another member appreciated acknowledging a space where Dogecoin enthusiasts could openly discuss the coin without concerns of censorship or negative repercussions.

Elon Musk’s ability to sway markets with his tweets has become a phenomenon that continues to fascinate investors and cryptocurrency enthusiasts alike. While his influence has undeniably led to rapid price changes in the past, the extent of the impact this time remains uncertain.

Dogecoin Price Analysis

The price of the meme coin currently stands at $0.06344. The total supply in circulation is 140,693,766,384 DOGE, and its market cap is valued at $8 billion. Over the past day, the cryptocurrency’s value has increased by $0.90. Looking at the last week, DOGE has experienced a decline of 10%. 

Source: CoinMarketcap

Forecasts for Dogecoin’s price suggest a 1.72% increase, projecting to reach $0.063463 by August 24th. As for technical indicators, they point to market sentiment of Bearish Bullish by 10% for Dogecoin. The Fear & Greed Index registers a score of 37, indicating a state of Fear. 

Related Reading | Bitcoin Analysis: Experts Insights $25,400 Support & 250-Day Countdown To $50K

Filed Under: News, Altcoin News Tagged With: Cryptocurrency, Dogecoin

Prominent Dogecoin Developer Expresses Concerns Over Proof-of-Stake Transition

August 21, 2023 by Ammar Raza

Mishaboar, a key contributor and developer behind the popular cryptocurrency Dogecoin, has raised questions about their continued involvement if the project were to adopt a proof-of-stake (PoS) consensus mechanism. The revelation came in response to inquiries regarding Mishaboar’s stance on staking Dogecoin.

If this refers to false “staking”, based on lending then no. The risk is too high unless you are an insider (and even then…).

If this refers to a remote possibility of Doge ever switching to PoS, after what I have seen over the past 2 years, i would probably then move to…

— Mishaboar (@mishaboar) August 20, 2023

A Hypothetical Transition: PoS & Dogecoin’s Future

Taking to Twitter, Mishaboar addressed the topic with a candid tone. Regarding staking in the lending context, the developer expressed apprehension due to perceived risks, particularly for those not privy to insider information. However, the hypothetical scenario of Dogecoin embracing PoS drew more definitive remarks.

Mishaboar’s tweet read:

“After witnessing the developments over the past 2 years, a transition to PoS would likely prompt me to switch to another PoW cryptocurrency. I might even personalize the logo in my wallet to feature a canine figure.” 

However, the developer acknowledged the complexity, highlighting that such a transition would likely lead to a fork, leaving the old PoW-based Dogecoin intact.

The developer exhibited a pragmatic stance towards exploring alternative consensus mechanisms, emphasizing the need for thorough research grounded in reliable data and free from hyperbolic expectations. Mishaboar criticized many PoS chains for their shortcomings—centralization, developer control, catastrophic failures, and user-unfriendly interfaces. 

Moreover, the concentration of cryptocurrency within exchanges and potential regulatory challenges were noted as significant roadblocks to the viability of PoS for a widely used currency.

While PoS boasts energy efficiency and potential transaction speed advantages, Mishaboar questioned the necessity for such features in most everyday transactions. The developer also posited alternative solutions like payment channels and integration with payment providers, acknowledging the potential trade-offs tied to centralization.

The late-night tweet concluded with a casual apology for potential typos and simplifications, acknowledging the lateness of the hour. The unexpected remarks by the prominent Dogecoin contributor have ignited discussions within the cryptocurrency community, sparking debates about the merits of different consensus mechanisms and their alignment with the core values of various cryptocurrencies. 

According to some perspectives, an argument suggests PoS rewards should function as a mechanism for redistributing wealth, potentially leading to a scenario where the affluent participants benefit more (“rich get richer”) due to the uneven distribution of staked units. 

PoS rewards have to be wealth redistributing (i.e. "rich get richer") because not every unit is staked. If staking rewards were fair and uniform, staking would be meaningless because % ownership would be constant.

So which does Dogecoin stand for? Utility or rent seeking?

— MAӾ (@Pilsner_Maxwell) August 20, 2023

It is posited that if staking rewards were to be impartial and consistent across the board, the act of staking might lose its significance, as the percentage ownership would remain constant. 

Related Reading | Shiba Inu’s Shibarium Blockchain Ready To Go Public After Scaling Up

Filed Under: News, Altcoin News Tagged With: Cryptocurrency, Dogecoin

Dogecoin’s Rocky Road in 2023: A Bleak Outlook

August 10, 2023 by Aishwarya shashikumar

Dogecoin, the once-beloved meme cryptocurrency, finds itself in a rather dismal state as 2023 unfolds. With a current trading price of $0.07, it stands as one of the least-performing digital assets this year. Investors have weathered eight months of disappointment as DOGE struggles to make any substantial gains, repeatedly spiraling into price drops shortly after brief rallies.

As the first two-thirds of the year have proven to be disastrous for DOGE, the burning question remains, that is if the next four months can bring about a change in fortune. In this article, we delve into the potential highs and lows that Dogecoin might experience by the close of 2023.

Changelly, a leading on-chain metrics and price prediction firm, presents a decidedly bearish outlook for DOGE. Their forecast projects a scenario in which Dogecoin maintains its lackluster $0.07 price tag come December’s end. This prediction suggests a flat trajectory over the remaining months of the year, offering investors scant opportunities for profit. Such a scenario paints a somber picture, implying a near 1% downturn by the year’s conclusion.

Long-Term Dogecoin Holders: Drowning in Red

The prevailing indicators for DOGE lean heavily towards the bearish side, signaling a shift from the cryptocurrency’s lucrative performance in 2021. Long-term investors who have held onto their DOGE holdings for the past two years find themselves swimming in a sea of red, their portfolios submerged in loss. Regrettably, the DOGE ecosystem fails to present any compelling developments that could attract fresh investments. The absence of exciting catalysts further diminishes the likelihood of a turnaround, given that market conditions do not seem conducive to a bull run.

Source: Changelly

In sum, exercising caution when considering an entry position in DOGE during this period is highly advisable. The odds appear to favor DOGE’s downward trajectory over any optimistic upward movements as the year comes to a close. At present, Dogecoin trades at $0.074, experiencing a minor 1.5% increase in the past 24 hours. This marks a stark contrast from its all-time high of $0.73, achieved in May 2021, with DOGE now languishing nearly 90% below that pinnacle.

In a landscape that once buzzed with excitement and potential, Dogecoin’s current state leaves much to be desired. The tumultuous journey it navigates in 2023 emphasizes the importance of careful evaluation and restraint for both seasoned and novice investors. As the months tick by, the world watches to see whether this meme-inspired cryptocurrency can reverse its fortunes, or if it will remain locked in a prolonged slump.

Filed Under: News, Altcoin News, World Tagged With: Bear Market, Cryptocurrency, DOGE, Dogecoin, price prediction

Dogecoin’s Mini Moonshot: Reclaiming $0.07 Amidst Surprising Silence

July 5, 2023 by Mishal Ali

Santiment, the renowned crypto analytics firm, took to Twitter to announce a noteworthy development in the world of Dogecoin. The beloved meme-inspired cryptocurrency, Dogecoin, has embarked on a mini-run, surging to reclaim the elusive $0.07 level. 

This surge marks a significant milestone for the meme coin, as it has been four weeks since the cryptocurrency last achieved this feat.

🐶 #Dogecoin is on a mini run, regaining the $0.07 level for the 1st time in 4 weeks. The largest $DOGE shorting of 2023 happened 6 days ago, likely contributing to the pump. Interestingly, the percentage of discussions and interest level has remained low. https://t.co/HZ9QM0hlI5 pic.twitter.com/aze07RbkWb

— Santiment (@santimentfeed) July 4, 2023

Curiously, this resurgence in Dogecoin’s value coincides with a rather peculiar event. A mere six days ago, the largest shorting of Dogecoin, referred to as $DOGE in trading circles took place. 

This massive shorting activity, which involves betting against the rising price of an asset, likely played a role in fueling the recent pump of the coin. It appears that the shorts were caught off guard by the sudden upswing, leading to a surge in demand and subsequent price rise.

Despite this remarkable turn of events, the overall interest and discussions surrounding DOGE have not witnessed a proportional increase. 

While one might expect heightened chatter and fervent debates in online forums and social media platforms, the percentage of discussions and interest levels have remained relatively low. 

This contrast between the surge in DOGE’s value and the subdued level of discourse is a phenomenon that raises further questions about the underlying dynamics at play.

Dogecoin Price Analysis

DOGE is currently trading at $0.068347. Over the past 24 hours, it has experienced a slight increase of 0.10%, and weekly charts show a significant rise of 6%. The trading volume for the coin during this period amounted to $2.08 billion, contributing to its market capitalization of $9.57 billion. 

CoinMarketcap

Despite its market dominance of 0.79%, the current sentiment for DOGE’s price prediction is bearish. The Fear & Greed Index currently stands at 61, indicating a state of greed among investors. 

Analyzing Dogecoin’s chart patterns, there is an encouraging development as its 30-day moving average has surpassed its 200-day moving average. This occurrence, known as a “golden cross,” is often interpreted as a potential sign of upcoming price breakouts.

Moreover, the correlation between DOGE and Bitcoin has been subject to fluctuations in recent months. In May, the correlation between the two assets was relatively low, measuring around 0.3. However, this correlation gradually improved and reached its peak at 0.88 on June 16. 

During this period, both Bitcoin and Dogecoin experienced a decrease in value, with Bitcoin declining by nearly 14% and Dogecoin by 24%.

Following the peak correlation, the relationship between Bitcoin and Dogecoin began to weaken again. By June 30, the correlation had dropped to 0.14. Interestingly, both assets exhibited a positive trend during this period.

Bitcoin saw a price increase of 24%, while Dogecoin appreciated by almost 10%. Therefore, it can be observed that Dogecoin has been moving in the same direction as Bitcoin, regardless of the correlation figure.

In July, the correlation between the two assets more than doubled compared to the previous period, but it remains below 0.5. Based on recent price behavior, it can be inferred that Bitcoin will continue to lead the way, with Dogecoin following its path. 

Related Reading | Memecoins Battle Intensifies; Pepe 2.0 Surpass FLOKI In Trading Volume

Filed Under: News, Altcoin News Tagged With: Bitcoin (BTC), Cryptocurrency, Dogecoin

Robinhood’s Dogecoin Reserve Drops After Withdrawal Of 5.7B DOGE

May 26, 2023 by Lipika Deka

Robinhood’s Dogecoin holdings have fallen from the steady supply of 24% to 16% after data tracking platform DogeWhaleAlert spotted massive withdrawals of DOGE.

According to the site, 5,700,000,000 DOGE tokens were shifted from Robinhood in total in a series of nine significant transfers in the past 2 days. Eight of them carried 680,000,000 DOGE each. One of those transactions moved 270,000,000 DOGE.

These tokens were moved from Robinhood to the top 20 wallets. However, it’s not clear if the receiving “top 20” wallet belongs to the exchange, the source tweet noted.

Before the mysterious transfers, Robinhood’s wallets had 33,562,118,525 DOGE worth of Doge on behalf of its clients. This was equivalent to $2,642,446,278 and accounted for 24.11% of the total Dogecoin supply then.

Robinhood now has 22,641,958,530 Dogecoins valued at $1.6 billion, making up 16.23% of the market’s available supply of DOGE.

Prior to this, the DogeWhaleAlert reported that Robinhood clients continue to hold on to their DOGE tightly and are not selling despite the recent unexpected success of a new meme coin PEPE.

The latest move has therefore raised eyebrows given that Robinhood’s DOGE stash survived the meme coin frenzy.

The trading platform recently released its Q1 revenue, showing that it generated $38 million from cryptocurrency trading, down from $54 million in the same quarter last year.

In addition, Robinhood disclosed that it holds around $11.5 billion in bitcoin assets, a 36% increase from the previous quarter and an indication of the early 2023 recovery of the cryptocurrency market.

Dogecoin’s New Milestone; Community’s Mixed Reaction

That being said, DOGE transactions reached an all-time high of almost 630k, thanks to the rise in demand for DRC20 tokens, a new wave of digital assets, which are being minted on the Dogecoin network.

The DOGE community’s response was divided, with some arguing that new tokens are merely attempts to cram them into the Dogecoin network.

Others view the surge in a positive light saying that the tokens provide a good opportunity for stress testing the network.

“Everyone should probably focus on the transactional currency use case. At least it’s a good test of the network’s ability to scale.”

Filed Under: Altcoin News, News Tagged With: DOGE, Dogecoin, Robinhood

Dogecoin’s Transactions Hit ATH As DRC20 Tokens Pump Up The Network

May 16, 2023 by Lipika Deka

Dogecoin, the OG memecoin has registered a spike in network activity outperforming that of Bitcoin [BTC] and Litecoin [LTC] in the daily transactions count.

Compared to 575k for BTC, DOGE transactions reached an all-time high of almost 630k, data from BitInfoCharts showed.

LTC’s daily transactions count stood at $341k, down by 36% from its recent ATH on 8 May.

The surge has been ascribed to a rise in demand for DRC20 tokens, a new wave of digital assets, which are being minted on the Dogecoin network.

Patrick Lodder, DOGE developer commented on this issue a few days ago, when the increase was significant but still below today’s levels

The DOGE community’s response was divided, with some arguing that new tokens are merely attempts to cram them into the Dogecoin network.

Mishaboar, a well-known figure in the Dogecoin community, believed that it should be done using well-engineered dedicated L2/whatever solutions rather than the main network, which might already be congested.

“DRC20” then head to their fantastic telegram channels to find out what this is all about (short-time speculation, with hints that you might make 100k overnight).

Others view the surge in a positive light saying that the tokens provide a good opportunity for stress testing the network.

“Everyone should probably focus on the transactional currency use case. At least it’s a good test of the network’s ability to scale.”

The DOGE community, however, was a-buzz with news from its most ardent supporter and current CEO of Twitter, Elon Musk, who is expected to hand the reins of the social media behemoth to Linda Yaccarino.

Twitter New CEO- A New Dogecoin Maxi?

The tech mogul recently announced the appointment of the next CEO of Twitter, saying that she will begin her duties in six weeks without identifying the candidate.

As the news gathered traction, WSJ reported that Yaccarino is the top choice for the role of Twitter’s new CEO.

But the crypto community was more intrigued by her DOGE leanings given that Musk himself is a big-time proponent of the meme coin.

Although Yaccarino hasn’t shown any public support for Dogecoin, her Twitter profile provides offered some interesting insight.

Out of the 1,161 accounts she follows on Twitter, Yaccarino follows Billy Markus, the creator of Dogecoin, Sir Doge of the Coin, and DogeDesigner, in addition to Tesla and the official Twitter account.

Filed Under: Altcoin News Tagged With: DOGE, Dogecoin, transactions

Dogecoin Wallet Awakens After Being Dormant for 9.3 Years

May 5, 2023 by Mohammad Ali

Whale Alert, a cryptocurrency data tracker, reports that a previously inactive wallet containing 1,556,994 DOGE (valued at $123,155) has been reactivated after lying dormant for 9.3 years. It is worth noting that it was created in 2013 as a playful project by its founders, Billy Markus, and Jackson Palmer.

💤 A dormant address containing 1,556,994 #DOGE (123,155 USD) has just been activated after 9.3 years!https://t.co/BpWr0etUk1

— Whale Alert (@whale_alert) May 4, 2023

DOGE Whale Back to Life After 9 Years

There has been much speculation among Twitter users as to why the wallet owner waited so long before reactivating it. Some have posited that the owner might have stumbled upon the private key or hard drive, facilitating the wallet’s reopening. Others have suggested that the individual played a long-term game with their investment.

It is difficult to explain why the address was suddenly used instead of when the prices were higher. Typically, addresses that remain inactive for a long time are associated with lost keys, so it’s possible that the owner only recovered them recently.

The fact that the previously dormant address has become active again could suggest that the coins were acquired shortly after launch, demonstrating the address’s impressive ability to hold onto the coins for such a prolonged period. Alternatively, the wallet regained access to its lost keys and reactivated the account.

Dormant Dogecoin addresses with deposits left untouched for several years have been reactivated recently.

In the last month, someone revived another wallet containing 1.2 million coins, which had remained inactive for 9.3 years. It is common for a cryptocurrency with a primarily long-term investor base to experience such occurrences.

IntoTheBlock’s data indicates that most (70%) holders have held onto their coins for a year or more, indicating their long-term investment objectives.

Of all the Dogecoin holders, 21% have held their coins for a duration ranging from one to twelve months, while 9% of holders have only acquired their coins within the last month.

Dogecoin, the eighth-largest cryptocurrency by market capitalization, remains a hot topic. On April 20, the well-publicized “Dogeday” fell on the day of the flagship flight of the Starship rocket.

Despite unexpected events, Dogecoin received attention as the hashtag “Dogeday” trended on Twitter.

DOGE Price

At the time of writing, the current value of Dogecoin is $0.08, reflecting a 0.85% shift over the last 24 hours. The recent price movements have resulted in the cryptocurrency’s market capitalization being valued at $10,890,809,174.58. Since the beginning of this year, it has undergone an 11.28% change.

Source: Tradingview.com

Related Reading: | Bitcoin [BTC] Unfazed By FED’s Interest Rates |

Filed Under: News Tagged With: Crypto, DOGE, Dogecoin, Meme Coin

BIT Mining’s LD4: The Ultimate Dogecoin & Litecoin Mining Machine

May 3, 2023 by Mishal Ali

BIT Mining Limited, a prominent cryptocurrency mining company, has unveiled its latest mining machine, the LD4, designed for mining Dogecoin and Litecoin, according to the press release.

The LD4 boasts an impressive energy consumption index of 0.71 W/MH, significantly outperforming Bitmain’s L7, which has a performance index twice as high. This new release reinforces BIT Mining’s position as a technology-driven leader in the industry.

The LD4, Dogecoin, and Litecoin mining machine is the third ASIC mining machine developed by BIT Mining since its acquisition of mining hardware manufacturer Bee Computing in 2022. Extensive testing and trials have contributed to the LD4’s superior hardware and exceptional performance. 

LD4 Sets A New Standard For Dogecoin Mining Performance

Notably, the LD4 achieves a power efficiency improvement of 0.02 W/MH compared to its predecessor, the LD3. With a peak output of 5GH/s, surpassing the LD3’s 4800 MH/s, the LD4 sets a new standard for mining efficiency in the Dogecoin and Litecoin markets.

The LD4 incorporates reliable design features, including efficient heat dissipation, enabling its computing chip to operate at lower temperatures during continuous operations, resulting in an extended lifespan. 

Moreover, the LD4 boasts enhanced security features, combining hardware-level protection with high-level security software equipped with the latest vulnerability patches.

Significant improvements can be observed in the LD4’s construction compared to the LD3. The LD4 utilizes an aluminum Printed Circuit Board (PCB) and a single airflow channel mining machine design, delivering numerous advantages over its predecessor. 

Aluminum PCBs offer superior thermal conductivity, lightweight construction, reduced production costs, and environmental friendliness. They help maintain optimal operating temperatures, ensuring efficient performance and longevity.

The single airflow channel design enhances structural compactness, ease of installation and maintenance, thermal performance, and cost-effectiveness. 

This design allows for deploying more mining machines within limited spaces, simplifies assembly and maintenance, and ultimately reduces operational costs.

The LD4’s single airflow channel ensures optimal temperature regulation, contributing to its exceptional efficiency.

BIT Mining’s implementation of high-performance mining machine designs with single airflow channels and aluminum PCBs distinguishes the company from its competitors. This technological superiority underlines BIT Mining’s position as a leading industry player.

Mr. Xianfeng Yang, CEO of BIT Mining, expressed his satisfaction with the LD4’s development, emphasizing the company’s commitment to continuously improving mining machines and promoting efficiency in the industry. 

With unmatched sophistication and technical expertise, BIT Mining remains dedicated to pushing the boundaries of cryptocurrency mining technology.

However, the launch of the LD4 signifies a significant leap forward in mining machine design and efficiency, solidifying BIT Mining’s position as a global leader in the field.

Related Reading | Apecoin (APE) vs. Dogecoin (DOGE) – Crypto Community Prefer Collateral Network (COLT) For 35x Gains 

Filed Under: News, Press Release Tagged With: BIT Mining, Cryptocurrency, Dogecoin, Litecoin

Whales Buy Up ADA During the Cardano (ADA) Price Dip, Dogecoin (DOGE) Price Up On The Monthly, Collateral Network (COLT) Set To Surge 35x

May 2, 2023 by Akash Anand

Cardano (ADA) is seeing significant recovery from the 2022 lows, Dogecoin (DOGE) prices are up on the monthly chart suggesting further growth and Collateral Network (COLT) shows great performance on the presale as it has an estimated 3500% price increase by the conclusion of its presale phase. So let’s examine Cardano (ADA), Dogecoin (DOGE) and Collateral Network (COLT) to get a clear picture of where they could head. 

>>BUY COLT TOKENS NOW<<

Cardano (ADA)

Cardano (ADA) has been steadily recovering despite dropping slightly at the beginning of April as Cardano (ADA) started the month by losing its support level of $0.40.

The dip sent a horde of whales and large token holders on a buying spree. They have acquired over 560 million Cardano (ADA) tokens worth over $218.4 million in just two weeks. The Cardano (ADA) large holders are capitalizing on the dip in anticipation of a price increase. 

The buying spree is also a strong indication of the growing popularity of Cardano (ADA) among high-net-worth individuals and institutional investors. Moreover, the recent Cardano (ADA) buying spree shows that large investors are optimistic about a solid bullish moment this year.

>>BUY COLT TOKENS NOW<<

Dogecoin (DOGE)

As its monthly chart shows, Dogecoin (DOGE) has witnessed significant growth. In 2022, Dogecoin (DOGE) dropped notably, along with all the other cryptocurrencies. In fact, Dogecoin (DOGE) fell by close to 60% from its 2021 highs. 

However, Dogecoin (DOGE) has been steadily recovering since the beginning of the year. Dogecoin (DOGE) is still one of the top coins on the market, with huge support from a dedicated community, including billionaire Elon Musk.

At the beginning of April, Dogecoin (DOGE) saw a massive price surge caused by none other than its biggest supporter Elon Musk. Dogecoin (DOGE) surged by over 33% on April 3rd after Elon Musk replaced the Bluebird Twitter logo with the DOGE symbol. After Musk tweeted the new logo and in just a matter of hours, the price of Dogecoin (DOGE) went up to $0.104, its highest since December 2022. 

The Dogecoin (DOGE) market capitalization has also been rising since the year began, which is another reason for the excellent performance of the token on the monthly chart.

Collateral Network (COLT)

Collateral Network (COLT) is another token currently doing great in its presale. As the world’s first decentralized crowdlending platform, Collateral Network (COLT) allows borrowers to unlock liquidity from their physical assets, used as collateral. 

What keeps attracting so many investors to the Collateral Network (COLT) presale is the project’s huge potential for democratizing the crowdlending industry.

Collateral Network (COLT) ensures that you no longer need to pawn or sell your physical assets when you want to get quick cash. Borrowers can use their physical assets, such as fine wines, real estate, or watches, as collateral to obtain the loan.

Borrowers wishing to obtain a loan need to send the physical asset to Collateral Network (COLT), which will authenticate the asset and store it in its vault until the full amount of the loan and interest is paid. Then, Collateral Network (COLT) mints an NFT backed 1:1 by the physical asset. Finally, the NFT is fractionalized, allowing multiple lenders to fund the loan amount. This way, Collateral Network (COLT) enables lenders across the globe to earn a fixed interest rate in return for lending money for loans.

Furthermore, holders of the Collateral Network (COLT) native token, COLT, enjoy several benefits, including governance rights, transaction discounts and staking rewards.      

Collateral Network (COLT) is currently in its presale phase at $0.014, with demand for COLT tokens rising by the day. Experts predict the price of Collateral Network (COLT) to grow by 3500% during the ongoing presale.    

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Presale: https://app.collateralnetwork.io/register 

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk

Filed Under: Press Release Tagged With: Cardano, collateral network, colt, Dogecoin, whales

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