Here Is Why XRP, Shiba Inu, and Dogecoin Are Worth Watching; Bitcoin Set To Close Bearish June With a Record 40% Drop

Bitcoin fell beneath the $20,000 and then the $19,000 mark on the last day of June, setting intraday lows of $18,603. The lead asset has lost nearly 6% since the previous day and is on pace to see a record monthly loss of 40.70%. The second-largest cryptocurrency, Ethereum experienced a 24-hour drop of 8% to trade near $1018 at press time while the majority of cryptocurrencies experienced weakness.

Stocks fell on Thursday, extending what has been the worst first half of the year for global share values on record as investors worry that the newest demonstration of central bank determination to manage inflation would cause economies to slow down quickly.

Bitcoin trades at $18,921 at press time.

Here Is Why XRP, Shiba Inu, and Dogecoin Are Worth Watching

Network activity is a great indicator to understand the direction of price trends. Lower lows point to bear trends while higher highs are indicative of uptrends. XRP, Dogecoin, and Shiba Inu are showing positivity in network interactions.

XRP (XRP)
XRP hit the network’s highest daily amount of unique addresses interacting with the network in nearly two and half years. XRP crossed above 200,000 for daily active addresses for the first time since February 2020.

Onchain analytics firm, Santiment wrote: ”XRP is holding up better than most altcoins on a Thursday #crypto slide day. A couple of days ago, the XRPNetwork exploded with unique addresses interacting on the network, exceeding 200k for the first time since February 2020. This is worth watching”.

Sopnendu Mohanty, the chief fintech officer of the Monetary Authority of Singapore (MAS) recently mentioned Ripple in a LinkedIn post. This time, Mohanty praised the leadership of some of the largest companies in the industry such as Ripple while summarizing his thoughts at the Point Zero Forum in Switzerland.

XRP was trading at $0.32 at the time of publication.

Dogecoin and Shiba Inu

Just like that seen for XRP,  Address activity for Dogecoin and Shiba has risen to seven-week highs. Santiment recently tweeted: ”Dogecoin and Shiba Inu, it appears as though they are each showing notable increases in network activity. Over the past 10 days especially, DOGE (+32%) and SHIB (+35%) have seen many returning network interactions.”

Also, Shiba Inu’s holder count has seen a steady increase throughout June. The number of SHIB holders currently stands at 1,189,250 per WhaleStats data. Shiba Inu is now trading at $0.00001 down 3.12% over the last 24 hours.

DOGE was also trading down 6.77% at $0.064.

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