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August 14, 2022

Dogecoin And Shiba Inu Are Seeing Massive Gains

At the time of publishing, two meme-based cryptocurrencies, Shiba Inu and Dogecoin, are doing very well, posting increases of 7.29 and 22.99 percent, respectively, during the preceding twenty-four-hour period.

The market value of the meme economy, which has seen fresh money flood into it over the course of the last twenty-four hours, has increased by 13.19%. The total value of the top ten cryptocurrencies is now estimated at $19.54 billion, according to statistics provided by CoinMarketCap.

The huge increase of 151% in trading volumes for this category of assets indicates that increased interest in meme cryptocurrencies is taking place.

According to the data presented by WhaleStats, one of the 1,000 greatest ETH whales throughout the course of the previous day, Shiba Inu, was among the top 10 whales in terms of the trading volume. On August 2, the designers of Shiba Inu revealed the collectible card game’s new name—Shiba Eternity—raising fans’ expectations that the game would deliver on its promise.

According to information obtained from the Shibburn website, more than 292 million tokens were burned in the preceding twenty-four hours, which further fuelled the spike of the Shiba Inu cryptocurrency. It is believed that the destruction of tokens would result in a rise in values; however, this cannot be proven.

Michi Lumin, a developer for the Dogecoin Foundation, was the one who presented the initial version of libdogecoin, the library of Dogecoin building blocks that was developed by the Dogecoin Foundation, last week.

It is not necessary for developers to have an in-depth understanding of blockchain technology in order to make use of this library, which allows lightweight direct integration of Dogecoin into a number of platforms.

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