Dogecoin and Shiba Inu have increased in popularity over the past few weeks. The SHIB community continues to petition for the meme coins listing on Robinhood, the commission-free exchange.
The total number of daily transactions on the Dogecoin network has dropped below 18,000. This week the volume of transactions has hit the lowest level recorded since Bitcoin’s historic bull run in 2017.
Back in April 2021, the transaction count hit a peak at 100,000. Historically, a drop in on-chain activity is associated with plunging demand for an asset; however, in the case of the Shiba-Inu-themed cryptocurrencies, it is the opposite.
Dogecoin’s popularity has increased with commission-free exchange Robinhood’s announcement of the launch of an upcoming cryptocurrency wallet that would support the deposit and transfer of the meme coin.
Adam Aron, CEO of AMC, the world’s largest theatre chain, asked his Twitter followers if Dogecoin should be accepted for online payments. Over 70% of the survey participants responded in the affirmative.
“Dogecoin killer” Shiba Inu has witnessed an over 18% spike in the number of token holders. As of September 21, 668,810 wallets hold Shiba Inu in their cryptocurrency portfolio.
Elon Musk, tech billionaire and CEO of Tesla, responded to Dogecoin co-creator @BillyM2k’s tweet, stating the need to drop DOGE to make it viable for users to buy movie tickets using the cryptocurrency.
Since the exciting announcements, Dogecoin has posted over 7% gains, and the cryptocurrency continues its upward climb.
analysts have evaluated where Shiba Inu's price could be headed next. The analysts believe that SHIB is ready for a rebound to $0.00000900. At the time of writing, SHIB is trading at $0.00000728.
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