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Dogecoin Outperforming ‘Killers:’ Why Elon Musk Speculation Could Fuel Volatility

Dogecoin (CRYPTO: DOGE) is down 1% on the day but outperformed its memecoin rivals due to statistics highlighting robust metrics and speculation fu
byKhyathi Dalal
February 5, 2024
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Dogecoin (CRYPTO: DOGE) is down 1% on the day but outperformed its memecoin rivals due to statistics highlighting robust metrics and speculation fueled by Elon Musk.

What Happened: Based on IntoTheBlock data, the number of holders in profit for Dogecoin stands at 46.94% compared to 27.1% for Shiba Inu (CRYPTO: SHIB), 24.8% for Pepe (CRYPTO: PEPE) and 16.% for Floki (CRYPTO: FLOKI).

Dogecoin reported a smaller monthly loss (-4.6%) than Pepe (-24.6%) and Shiba Inu (-8.8%). In contrast, its monthly trading volume is the highest at $178.2 million.

The total number of Dogecoin holders is 5.8 million, significantly ahead of the 1.29 million for Shiba Inu, 152,195 for PEPE, and 73,038 for FLOKI.

See Also: Dogecoin Maintains Strong Network Dominance Over Memecoin Rivals: Trader Foresees ‘Abundance Of Wealth’ For The Patient

Why It Matters: Elon Musk has once again fueled speculation in the Dogecoin community by liking his old tweet from October 2021.

 

This action has sparked investor interest in a potential upcoming announcement related to Dogecoin. The X Payments feature for peer-to-peer transactions is likely to adopt Dogecoin as its payment option. The community is eagerly awaiting an official announcement, which could position X as an “everything app.”

What’s Next: Crypto analyst Ali Martinez indicated that the Dogecoin chart is “signaling an impending spike in $DOGE price volatility.”

 

While the past month’s volatility has led Dogecoin prices to drop by 3.8%, these recent optimistic statistics are likely to cushion the price movements.

Now Read: Dogecoin, XRP Witness Significant Whale Activity: Analysts Expect ‘Something Big’

Image: Shutterstock

 
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EU Cracks Down on Tech Giants: Apple, Alphabet, and Qualcomm in Regulatory Spotlight

By Anusuya Lahiri
January 12, 8:59 AM
EU Antitrust Chief Margrethe Vestager recently engaged in pivotal discussions with executives from leading tech companies Apple, Alphabet, and Qualcomm. These meetings, part of a larger series involving tech giants like Broadcom and Nvidia, were centered around crucial topics in European digital regulation, especially the implications of the Digital Markets Act (DMA) and broader competition policies. In her discussions with Apple's Tim Cook, Vestager addressed the necessity for Apple to allow apps to be distributed beyond its proprietary AppStore, delving into ongoing competition issues including those related to Apple Music. Her meeting with Alphabet and Google's Sundar Pichai focused on the design of choice screens, the company's self-preferencing practices in relation to the DMA, and the Google adtech antitrust case. These interactions underline the EU's commitment to regulating major tech companies, defining their roles and responsibilities as "gatekeepers" under the DMA. This includes making their messaging apps interoperable and giving users more control over app installations. The specifics of Vestager's discussion with Qualcomm's Cristiano Amon were not detailed, but she emphasized the broader economic and security significance of chip technology in the EU. These high-level meetings are critical in shaping the operations of tech companies within the EU, ensuring they align with the region's digital strategy and competition laws.

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