The last 24 hours have been like this for Dogecoin (DOGE), Shiba Inu (SHIB) and BONK (BOONK). As of Thursday (February 29), the total value of the meme token reached 342$200 million. Overall, the meme coin economy has grown by 24 in the last day7%。The largest meme coin by market capitalization, Dogecoin (DOGE), is close to 0$13 mark, and the market capitalization reached 183$200 million.
Source: bitcoincom）
Dogecoin bullish bets hit a record $1 billion
On Thursday ** 29After 9%, Dogecoin (DOGE) has gained 52% in the past week3%。The data shows that 70% of traders hold long Dogecoin (DOGE) – expecting it to **will**.
As a result, data from CryptoQuant, which tracks Dogecoin's actions, shows that the coin's Relative Strength Index (RSI), a measure of the speed of change, has reached an "overbought" level – meaning that there could be a "possible trend reversal" in the coming days.
Fundamentally, the developers of Dogecoin released the core version of the network 114.7. This is a minor release with enhanced security and upgraded node operators. Another relatively recent technological improvement is the introduction of ordinal numbers on the Dogecoin blockchain, with some developers even releasing popular games that run entirely with Dogecoin.
Some in crypto circles say that meme tokens may be more attractive to retail investors as the bull market continues – mainly because of their relevance in popular culture, low unit bias, and familiarity.
Meanwhile, Coinglass data shows that over the past 24 hours, more than $40 million has been lost on short positions or bets against Dogecoin.
Liquidation occurs when the exchange forces the closure of a trader's leveraged position as a security mechanism due to a partial or total loss of initial margin. This mostly happens in trading, where the transaction only tracks the asset, as opposed to spot trading, where the trader owns the actual asset.
The second-largest meme coin by market capitalization, Shiba Inu (SHIB)** has 233%, 42% over a seven-day period.
The third-largest meme token, BONK (BOONK), was the biggest gainer among the top three, with a 375%。In seven days, BONK has risen by 89 against the US dollar3%。PEPE (PEPE) **148 in a week4%, but on Thursday ** up 117%。
Meanwhile, the fifth- and sixth-ranked meme tokens WIF and Corgiai recorded 4An increase of 1% to 14%. There has been a significant increase in activity in the meme coin space, with a value of 132 carried out in 24 hours$400 million in meme token trading.