Whales Get This Meme From Coin According To Smart Contract Activity

Smart contract activity is one of the indirect ways of determining the number of actions that take place in an entity’s chain. Dogecoin is also among the top 10 most actively used smart contracts on the Ethereum chain.

According to the data provided, Doge was ranked 7th among the most actively interacting smart contracts on the on-chain. Meme-coin shared the top with cryptocurrencies such as Binance Smart Chain, Binance USD and Chia Coin.

The use of smart contracts often means increased purchasing activity, as users need to own a certain amount of tokens or coins in order to use a cryptocurrency’s smart contract. Doge’s on-chain data shows more people are starting to use it, while market data shows the opposite. According to the data, the Doge has lost about 9 percent of its value today along with the market-wide decline.

At today’s low, the Doge tested the $0.188 support. The last time Dogecoin traded at these levels was at the end of September. So what level must DOGE cross to start a new upward movement? Kamile Uray, an analyst at Vuca Borsa, shared his ideas on this subject and drew attention to the level of $0.2169 for DOGE.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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