Dogecoin (DOGE) remained subdued and traded slightly above the 30 cent level as the so-called “Dog Day” came to an end on Tuesday night, but the madness surrounding the joke cryptocurrency has expanded to some decentralized financing coins.
What happened: DOGE traded 16.67% lower at $ 0.32 at the time of printing and rose 186.54% on a seven-day background.
The Shiba Inu-themed cryptocurrency has risen by 6,489.35% since the beginning of the year. The DOGE excitement descended on the DeFi arena. Some counterfeit characters made impressive one-day wins, including SHIBA INU (SHIB) rose almost 3,733.33% in one month. SHIB deals with the Exchange (UNI) network.
See also: How to buy Dogecoin (DOGE)
UNI traded 6.67% higher at $ 32.47 at press time while SHIB was 35.34% lower at $ 0.0000023 at press time.
A newly launched coin on the same network, Weed Doge (WOGE), has risen more than 1000% since Monday.
WOGE was apparently created to donate money to people who are being held illegally for marijuana-related offenses, according to CoinDesk.
According to Uniswap.org, WOGE traded 93.55% lower at $ 0.0019 at press time.
See also: Will GameStop or Dogecoin grow more by 2022?
Why it matters: Despite the exuberance of social media, Doge Day could not reach the price levels of 69 cents or $ 1.
Analysts are divided on whether DOGE will maintain its upward momentum. According to Edward Moya of Oanda, there could be a “sell-the-event response to cards”, according to CoinDesk.
According to Bloomberg’s Mike McGlone, DOGE is apparently not considered to be appreciated.
Goldsmith Peter Schiff recently said Bitcoin (BTC) is ‘old-fashioned’ Dogecoin is hip. BTC traded 2.66% higher at print time at $ 56,186.79.
Benzinga takes: Cryptocurrencies with smaller market capitalizations have risen in recent months, reducing Bitcoin’s dominance to 50.7% from press time – in a phenomenon described as ‘alt-season’. It seems that small investors are on the lookout for further cheap assets with the increase in large altcoins.
Read the following: Dogecoin Creator defends Meme Crypto’s offer: does not mean ‘price for price’
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