Dogecoin (DOGE) suffered from decreased volumes and reduced traction in August 2024. Key factors behind this reason decline are the selling pressure on Bitcoin and macroeconomic conditions. However, the battle between bulls and bears could be on the verge of ending with an upcoming supply squeeze.
On the other hand, Shiba Inu (SHIB) bulls are pushing to challenge the dominance of Doge as the memecoin king. Today, we explore the competition between those two competitors along with an insight into the viral launch of the platform.
Dogecoin (DOGE) Bullish Rally on Horizon as Miners Acquire $140 Million
Dogecoin interest increased significantly in August as investors looked to balance portfolios before the upcoming bull rally. According to data from , Dogecoin accumulation by miners is increasing at a historic rate. Miner holdings increased nearly 4% to reach over 4.5 Billion DOGE tokens.
In just the past 20 days, miners have expanded their holdings with an additional 140 million DOGE tokens. Experts are labeling this as a significant development for Dogecoin along with the decreasing supply of the token. Data from analytics platform further verified this narrative showing a stock-to-flow ratio of 69.25. This represents a significant increase in demand.
Additionally, social media activity for the project is also reaching an all-time high with X owner Elon Musk tweeting about the project recently. Based on these bullish factors, the project could target a reclaim of its $0.16 level in the coming days.
Shiba Inu Promises Community-Centric Future
Shiba Inu (SHIB) is considered to be amongst the biggest names in the crypto world. Globally renowned as the second biggest memecoin in the world, the project has a market cap of over $8 Billion and is led by Shytoshi Kusama and Kaal Dhairya.
In the most recent development for Shiba Inu, the lead developers of the projects indicated a major change. The founders announced their intention to step back from their roles and shift over control of the platform back to the SHIB community. This milestone will allow Shiba Inu to become the first decentralized project. Following on the vision outlined by founder Ryoshi, the move will include community-centric governance.
Since the announcement, the Shiba Inu (SHIB) investors have expressed confidence in the project. The project has seen massive gains on the yearly charts with the token currently priced at $0.00001374, up 65% compared to the previous year. However, on the short-term timeframe, the token is still seeing higher volatility and there is a prospect of an extended consolidation between the next move up.
Amidst this battle between crypto’s top memecoins, trailblazing newcomer Intel Markets (INTL) has attracted massive attention.
Expert Calls Intel Markets (INTL) “AI Disruptor” After Launch
Recently launched AI trading platform has launched to rave reviews. The layer one blockchain-based trading platform integrates AI at a native level to transform how traders interact with crypto assets. Since its launch just 24 hours ago, the platform has already managed to surpass $125,000 in tokens sold.
Traders are excited about the platform’s advanced features, which are made accessible to retail investors. Features like proprietary self-learning robots and advanced omnichannel technical analysis are proving to be major difference-makers for traders looking to make life-changing gains.
Conventionally, advanced features like lag-free data feeds are only available to institutional investors. However, is making the landscape even more so by allowing retail to access restricted trade environments. Additionally, the platform deploys AI on its native layer which is proving to be a gamechanging deployment.
At its current stage 1 price of $0.018, the platform is being called a golden opportunity by experts. Considering the launch price of $0.11, traders can make up to 1,000% gains when the project is listed.
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