Dogecoin Explodes Following Increase in SHIB and DOGE Holders

Briefly –

  • DOGE’s overall daily transactions plunged beneath 18,000, its lowest zone since 2017.
  • Meanwhile, Shiba Inu has 668,811 holders, translating to an 18% surge over the last three months.
  • AMC aims to accept DOGE for payments, and Robinhood plans to introduce a digital wallet for transferring and storing Dogecoin.

The past few weeks have seen Shiba Inu and Dogecoin enjoying increased popularity and acceptance. For now, SHIB enthusiasts continue to push for the coin’s listing on the commission-free platform, Robinhood.

Dogecoin On-chain Activity on Lowest area since 2017

The Dogecoin network has seen its daily transactions dropping under 18,000. This week saw transactions volume hitting its lowest zone since the 2017 bullish run. Keep in mind that the transaction count was at its peak in 2021 April, exploring 100,000 areas.

Generally, decreased on-chain activity associates with asset plunging demand. However, the meme tokens seem to have opposite reactions.

DOGE sees increased popularity after Robinhood announced launching a crypto wallet to support transfer and hold the meme asset. AMC CEO Adam Aron asked his followers on Twitter if Dogecoin is legit for online payments. AMC is a renowned theatre chain. More than 70% of those who participate in the survey acknowledged.

Shiba Inu, the ‘DOGE Killer,’ saw its token holder rising by more than 18%. As of 21 September, 668,810 digital wallets have SHIB on their crypto portfolio.

Responding to the increased Dogecoin acceptance, Billy Markus, a Dogecoin co-creator, tweeted that Robinhood’s move to offer DOGE services would attract more users. Tesla CEO Elon Musk responded to @BillyM2k’s post, affirming the need to allow customers to use DOGE to pay for movie tickets.

Since the positive announcements, DOGE has gained more than 7%. Moreover, the meme crypto extends its upside movements. FXStreet analysts evaluated the possible actions by Shiba Inu in the upcoming sessions. The experts trust that SHIB might rebound towards $0.00000900. While writing this article, Shiba Inu has its price hovering at $0.00000728.

Meanwhile, top assets in the crypto market have printed upside moves over the past day. If the market sustains its current attitude, meme coins will accumulate momentum to hit higher levels.

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