Dogecoin (DOGE) and Shiba Inu (SHIB) recover by 11% and 16% in the last 24 hours
Release: 2024/07/06 21:44 Reading: 618
Dogecoin and Shiba Inu Surge in Value Amidst Cryptocurrency Market Rebound
Bitcoin (BTC) has witnessed a significant value increase, reaching the $56,500 range, signaling a notable recovery in the global cryptocurrency market. This upward trend has positively impacted almost all cryptocurrencies, resulting in substantial gains across the board.
Dogecoin (DOGE) and Shiba Inu (SHIB) have made significant recoveries after a prolonged period of decline. DOGE, which experienced a 23% decrease on July 5th, has since rebounded by 12%, reaching the $0.1097 level once again.
Currently trading at $0.1091, DOGE boasts a market capitalization exceeding $15 billion, representing 0.79% of the total global cryptocurrency market. However, daily trading volume has declined by over 40%, reaching a value of approximately $1 billion.
The hourly chart for DOGE exhibits a bullish pattern in the simple moving average (SMA) trend, suggesting that momentum may be sustained. Shiba Inu token has also experienced a notable surge, with its value jumping by 16.2% from $0.00001355 to $0.00001572.
Its market capitalization has expanded by over 15%, reaching $9 billion. Despite this, daily trading volume for SHIB has decreased by 28%, currently standing at around $368 million.
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