Dogecoin (DOGE) remained disabled, trading slightly above the 30-cent level, as the so-called “Doge’s Day” ended on Tuesday night, at press time, but the frenzy around the joke cryptocurrency spread to some decentralized financial currencies.
What happened: DOGE traded 16.67% lower at $ 0.32 in the press and rose 186.54% on a seven-day basis.
Shiba Inu-themed cryptocurrency has risen 6,489.35% since the beginning of the year. The excitement of DOGE reached the DeFi arena. Some imitation chips have accumulated impressive gains in one day, inclusive SHIBA INU (SHIB) rose almost 3,733.33% in one month. SHIB trades on Uniswap (UNI) network.
See also: How to buy Dogecoin (DOGE)
UNI traded 6.67% higher at $ 32.47 at the time of pressing, while SHIB fell 35.34% at $ 0.0000023 at the time of pressing.
A currency recently launched on the same network, Weed Doge (WOGE) has increased over 1000% in months.
WOGE was allegedly created to donate funds to people considered unjustly detained for marijuana-related crimes, according to CoinDesk.
WOGE traded 93.55% lower at $ 0.0019 at press time, according to Uniswap.org.
See also: Will GameStop or Dogecoin grow more by 2022?
Why does it matter: Despite the exuberance of fans on social networks, Doge Day failed to achieve price levels of 69 cents or 1 USD.
Analysts are confused whether DOGE will maintain its upward momentum. Edward Moya, from Oanda, believes that “a sale-event reaction could be on the books”, according to CoinDesk.
Mike McGlone of Bloomberg reportedly saw “little to stop DOGE from continuing to appreciate.”
Gold Bug Peter Schiff recently said that at the same time Bitcoin (BTC) is “old-fashioned” Dogecoin is hip. BTC traded 2.66% higher at $ 56,186.79 in the press.
Taking Benzinga: Cryptocurrencies with lower market capitalization have risen in recent months, reducing Bitcoin’s dominance to 50.7% since the press – in a phenomenon described as “another season”. It seems that retail investors are looking for low-priced assets as the major major currencies rise.
Read more: Dogecoin Creator defends the Crypto Meme offer: it doesn’t “matter for the price”
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