As Shiba Inu user base grows 30%, Dogecoin price rises after new update announcements

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As Shiba Inu user base grows 30%, Dogecoin price rises after new update announcements By Angel Di Matteo @shadowargel

Each of the iconic memecoins are on the rise on November 8 in different indicators, revealing in both cases a growing adoption among enthusiasts and investors.


Dogecoin (DOGE) and Shiba Inu (SHIB), the two iconic cryptocurrencies inspired by the most famous dog in the crypto sphere again give something to talk about, this time separately since each one is registering important announcements on November 8 with a good impact on its adoption and community.

Dogecoin increases after new update announcements

Let’s start first with Dogecoin, currency that today registers an increase of 5.7% in the main markets in the last 24 hours, this after the announcements about its new update.

According to information published by the team of Dogecoin and disseminated by various media, the new update (version 1.14.5) contemplates the expected reduction in the margin of fees associated with transactions through its network, this hand in hand with improvements in its infrastructure to optimize its performance and correction of vulnerabilities previously present in the digital currency protocol.

It is worth noting that this update has the support of the controversial CEO of Tesla and SpaceX, Elon Musk, who every time he speaks about Dogecoin generates a positive effect on the markets, inviting users and investors to allocate more capital to the digital currency to generate profits in the short term.

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However, this time the increase capitalized by the digital currency led it to a peak very close to USD $ 0.3 per unit, but it quickly fell to USD $ 0.278 seen at the time of publication, which reflected a certain commercial volume present during the best trading moments.

User base of Shiba Inu grows more than 30%

On the other side we have the controversial Shiba Inu, the token inspired by Dogecoin, which despite going down today seems to have capitalized on a significant increase in its user base.

This is revealed by various reports published today, which indicate that between October 10 and November 8, the user base of the digital currency went from 706,808 to 926,684 people, translating into an increase of 30% to just under of one month.

According to several analysts, the growth in the number of users of Shiba Inu comes hand in hand with the growing popularity that the token has gained in the last month, since beyond all the associated media controversies, SHIB It is already traded on major exchanges and platforms both in the US and in other parts of the world. The latter also led to an increase in the price of the token of more than 110% in the same period.

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However, this aforementioned increase seems to be in the doldrums this November 8, since for several days the currency has been going down and capitalizes in the last 24 hours a reduction of 3.41%, trading at this time in about USD $ 0.000055 per unit.

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Source: U.Today, Twitter, Finbold

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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