{"id":544588,"date":"2023-07-27T10:01:10","date_gmt":"2023-07-27T10:01:10","guid":{"rendered":"https:\/\/wncen.com\/?p=544588"},"modified":"2023-07-27T10:04:05","modified_gmt":"2023-07-27T10:04:05","slug":"dogecoin-ascendance-how-it-captured-pepe-investors-attention","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-ascendance-how-it-captured-pepe-investors-attention\/","title":{"rendered":"Dogecoin Ascendance: How It Captured PEPE Investors’ Attention"},"content":{"rendered":"

Dogecoin (DOGE) has been making headlines again with its recent price rally, causing a significant impact on the PEPE network and its investors. As the price of DOGE surged around mid-July, on-chain data indicates that investors began to abandon their holdings in PEPE, leading to a sharp decline in the network’s activity.<\/span><\/p>\n

Daily Active Addresses<\/span><\/a>, a crucial metric used to gauge the level of network activity, took a hit during this period. On July 14, PEPE recorded 5,086 active users. However, by the close of July 25, that number had plummeted to a mere 1,999 daily dynamic addresses, representing a staggering 61% decline.\u00a0<\/span><\/p>\n

This abrupt drop in network usage suggests that many investors shifted their attention and funds towards DOGE, leaving PEPE behind.<\/span><\/p>\n

Related Reading: Polygon Warning Signs Point To Slide In MATIC Price On Support Breakdown<\/a><\/div>\n

\"\"<\/p>\n

PEPE daily active addresses. Source: Santiment<\/a><\/pre>\n
Dogecoin Hype Leaves PEPE In The Dust<\/strong><\/h2>\n
The reason for this shift in investor behavior can be attributed to DOGE’s recent impressive performance in the market. Over the past seven days, DOGE saw a surge of 11.6%, reaching a price of $0.079, according to <\/span>CoinGecko<\/span><\/a>. <\/span>DOGE also experienced a slight 0.7% climb in the past 24 hours.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
Doge price in green in all timeframes. Source:\u00a0 Coingecko<\/pre>\n
The impact of the DOGE rally on PEPE also extended to its price. Within the same seven-day period,\u00a0<\/span>PEPE’s price<\/span><\/a>\u00a0declined 13%. The sell-off intensified as more investors shifted their focus to the meme-inspired DOGE, which enjoyed the spotlight as one of the top-performing cryptocurrencies.<\/span><\/p>\n
\u2018Meme Coin Magic\u2019<\/strong><\/h2>\n
While DOGE experienced a boost in its market cap, it wasn’t the only meme coin project to do so. Other projects like Shiba Inu (SHIB) and ApeCoin (APE) also saw minor market cap increases. <\/span><\/p>\n
The surge in social volume for these meme coins typically signals an approaching peak, as enthusiasm and speculation surrounding these assets tend to drive their prices to unsustainable levels.<\/span><\/p>\n
<\/p>\n
Dogecoin market cap currently at $11.15 billion. Chart: TradingView.com<\/a><\/pre>\n
Data analytics firm\u00a0<\/span>Santiment<\/span><\/a>\u00a0pointed out the market cap increases in DOGE, SHIB, and APE, attributing the rise to the “<\/span>meme coin magic<\/span><\/a>” that seems to capture the attention of crypto enthusiasts periodically.<\/span><\/p>\n
Related Reading: Litecoin Bulls Barrel Back Toward $92 Level \u2013 Will They Succeed?<\/a><\/div>\n
Santiment also warned that high social volume spikes often indicate potential market tops, suggesting that the excitement around DOGE might reach its peak.<\/span><\/p>\n
\n
\ud83d\udc36 The week has kicked off with some #memecoin<\/a> magic, as #Dogecoin<\/a>, #ShibaInu<\/a>, & #Apecoin<\/a> have enjoyed minor market cap rises. As is typically the case with these types of assets, high social volume spikes will signal tops. $DOGE<\/a> excitement is heating up. https:\/\/t.co\/Z0w3UXZDzz<\/a> pic.twitter.com\/h0mriBIpXh<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) July 24, 2023<\/a><\/p><\/blockquote>\n
The recent DOGE price rally has not only attracted more attention to the cryptocurrency itself but has also caused a significant impact on other meme-inspired projects like PEPE. <\/span><\/p>\n
However, as the crypto market continues to be influenced by hype and social media trends, investors should remain cautious and vigilant to avoid falling prey to speculative manias.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Dogecoin (DOGE) has been making headlines again with its recent price rally, causing a significant impact on the PEPE network and its investors. As the price of DOGE surged around mid-July, on-chain data indicates that investors began to abandon their holdings in PEPE, leading to a sharp decline in the network’s activity. Daily Active Addresses, a crucial metric used to gauge the level of network activity, took a hit during this period. On July 14, PEPE recorded 5,086 active users. However, by the close of July 25, that number had plummeted to a mere 1,999 daily dynamic addresses, representing a staggering 61% decline.\u00a0 This abrupt drop in network usage suggests that many investors shifted their attention and funds towards DOGE, leaving PEPE behind. Related Reading: Polygon Warning Signs Point To Slide In MATIC Price On Support Breakdown PEPE daily active addresses. Source: Santiment Dogecoin Hype Leaves PEPE In The Dust The reason for this shift in investor behavior can be attributed to DOGE’s recent impressive performance in the market. Over the past seven days, DOGE saw a surge of 11.6%, reaching a price of $0.079, according to CoinGecko. DOGE also experienced a slight 0.7% climb in the past 24 hours.\u00a0 Doge price in green in all timeframes. Source:\u00a0 Coingecko The impact of the DOGE rally on PEPE also extended to its price. Within the same seven-day period,\u00a0PEPE’s price\u00a0declined 13%. The sell-off intensified as more investors shifted their focus to the meme-inspired DOGE, which enjoyed the spotlight as one of the top-performing cryptocurrencies. \u2018Meme Coin Magic\u2019 While DOGE experienced a boost in its market cap, it wasn’t the only meme coin project to do so. Other projects like Shiba Inu (SHIB) and ApeCoin (APE) also saw minor market cap increases. The surge in social volume for these meme coins typically signals an approaching peak, as enthusiasm and speculation surrounding these assets tend to drive their prices to unsustainable levels. Dogecoin market cap currently at $11.15 billion. Chart: TradingView.com Data analytics firm\u00a0Santiment\u00a0pointed out the market cap increases in DOGE, SHIB, and APE, attributing the rise to the “meme coin magic” that seems to capture the attention of crypto enthusiasts periodically. Related Reading: Litecoin Bulls Barrel Back Toward $92 Level \u2013 Will They Succeed? Santiment also warned that high social volume spikes often indicate potential market tops, suggesting that the excitement around DOGE might reach its peak. \ud83d\udc36 The week has kicked off with some #memecoin magic, as #Dogecoin, #ShibaInu, & #Apecoin have enjoyed minor market cap rises. As is typically the case with these types of assets, high social volume spikes will signal tops. $DOGE excitement is heating up. https:\/\/t.co\/Z0w3UXZDzz pic.twitter.com\/h0mriBIpXh \u2014 Santiment (@santimentfeed) July 24, 2023 The recent DOGE price rally has not only attracted more attention to the cryptocurrency itself but has also caused a significant impact on other meme-inspired projects like PEPE. However, as the crypto market continues to be influenced by hype and social media trends, investors should remain cautious and vigilant to avoid falling prey to speculative manias. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from<\/p>\n","protected":false},"author":557,"featured_media":544602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,85675,7,8686,83767,88145,4735],"class_list":["post-544588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-doge-price","tag-dogecoin","tag-ethusd","tag-meme-coins","tag-pepe","tag-price-action"],"acf":[],"yoast_head":"\nDogecoin Ascendance: How It Captured PEPE Investors' Attention<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has been making headlines again with its recent price rally, causing a significant impact on the PEPE network and its investors. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Ascendance: How It Captured PEPE Investors’ Attention","url":"http:\/\/wncen.com\/news\/dogecoin-ascendance-how-it-captured-pepe-investors-attention\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin-ascendance-how-it-captured-pepe-investors-attention\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-176.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-176.png?fit=707%2C403"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","doge price","dogecoin","ethusd","meme coins","pepe","price action"],"dateCreated":"2023-07-27T10:01:10Z","datePublished":"2023-07-27T10:01:10Z","dateModified":"2023-07-27T10:04:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Ascendance: How It Captured PEPE Investors’ Attention\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-ascendance-how-it-captured-pepe-investors-attention\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-ascendance-how-it-captured-pepe-investors-attention\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-176.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-176.png?fit=707%2C403\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"doge price\",\"dogecoin\",\"ethusd\",\"meme coins\",\"pepe\",\"price action\"],\"dateCreated\":\"2023-07-27T10:01:10Z\",\"datePublished\":\"2023-07-27T10:01:10Z\",\"dateModified\":\"2023-07-27T10:04:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-176.png?fit=707%2C403","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544588"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=544588"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/544602"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=544588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=544588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=544588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}