TronWeekly

Crypto World News

You are here: Home / Archives for Dogecoin (DOGE)

Dogecoin (DOGE)

Dogecoin [DOGE] and Binance Coin [BNB] struggle to amass gains

by

The bull stayed longer than the crypto market expected. However, Dogecoin [DOGE], Binance Coin [BNB], and Cardano [ADA] garnered limited gains. On one hand, BNB was the only asset painted in red while all the others embraced the green. Dogecoin, on the other hand, noted dainty gains.

Dogecoin [DOGE]

Dogecoin’s emergence from being a mere meme coin undoubtedly put the altcoin under the crypto spotlight. Despite its fame, the asset’s price was at a low of $0.19 during the time of writing. The altcoin experienced profits of just 0.45% over the last 24-hours. The last couple of days were good for the asset as it bagged gains of about 5%.

The market cap of Dogecoin was at $25.10 billion, which allowed the asset a place in the top ten.

Dogecoin [DOGE] one-hour price chart

Dogecoin

All the indicators used in the short-term price chart of DOGE were inclined towards the bear. Chaikin Money Flow [CMF] indicator was below the zero median, which suggested a bearish momentum. The Awesome Oscillator indicator followed suit as it laid out tiny red closing bars, further announcing the bear’s presence.

The Relative Strength Index indicator revealed that the DOGE market was traversing from a sellers’ market to a buyers’ market.

Binance Coin [BNB]

Binance Coin [BNB] made the maximum benefits during the recent bull run. The altcoin recorded new highs almost every other day. However, the current bearish invasion destroyed the altcoin. At the time of writing, BNB was trading for $289, with a 1.98% drop over the last 24-hours. This was surprising as all the other assets in the market were seen harboring the bull.

The market cap of BNB was at $48.78 billion. With this, BNB managed to reside as the fourth-largest cryptocurrency.

Binance Coin [BNB] one-hour price chart

SMddyCFC

The one-hour price chart of BNB noted strong bearish sentiment. The Bollinger Bands indicator was converging at the moment; however, it looked like they were headed towards divergence. The MACD line remained below the signal forming a bearish crossover. Despite this sentiment, the Money Flow Index indicator affirmed a buyers’ notion.

Dogecoin [DOGE] parks above $0.19 as intermediate-term downtrend slows down

by

Dogecoin [DOGE] along with the rest of the cryptocurrency market posted recovery after Elon Musk’s revealed that he and Tesla still own Bitcoin. The cumulative crypto market cap soared above $1.31 trillion as several assets bounced off from crucial support areas. The volatility, however, stalled even as the momentum improved which is currently helping DOGE buyers to stay active above the $0.171 support level as bullish sentiment makes a comeback.

Dogecoin [DOGE] was trading at $0.191 after an uptick of 0.26% over the past 24-hours. At the time of writing, the meme-token registered a market cap of $25.0 billion and a 24-hour trading volume of $4.10 billion.

Dogecoin [DOGE] Daily Price Chart:

DOGE 1

DOGE saw the formation of two green candles as the price appeared to have bottomed out after touching the support area. The asset had maintained a consistent downward trajectory. Sell pressure grew after the 50 DMA [Pink] sustained a bearish crossover with the 100 DMA [Blue]. Following the upswing, however, the price moved over the 200 DMA [Yellow] depicting a rise in optimism. But, the low trading volume in the Dogecoin market could hinder the growth.

Indicators Rebound

DOGE2 1

All the indicators noted upward changes. The Awesome Oscillator [AO], for one, flipped green candles depicting a shift towards bullish momentum. The Chaikin Money Flow [CMF] also surged before a little for flattening out depicting that the outflow of capital continued to exceed inflow. The daily Relative Strength Index leaped closer to the 50-median line as buying pressure picked up which could encourage further selling over the short term. On the flip side, the RSI, rising from oversold levels, displayed a bullish divergence.

DOGE will need to breach the moving averages at levels $0.42, $0.56, and $0.69 respectively to target highs established in the early days of bull run. The rise in selling sentiment could prompt the digital asset to test support areas of $0.171, and $0.0.48

True Dogecoin fan? Former DOGE millionaire continues to buy the dip

by

Dogecoin [DOGE] managed to garner a lot of fans this year. With Elon Musk’s constant endorsements via Twitter and GenZ’s fervour for the meme coin, put the asset on top. Not only did the altcoin rise in terms of price but also market cap which eventually pushed it into the top ten. The surge in the price of DOGE lured in an array of people and even made some of them billionaires.

The price of DOGE, similar to an array of cryptocurrencies crashed. This downfall led to several pulling out their funds from the altcoin. However, one 33-year-old man is adamant about buying Dogecoin [DOGE] despite its downfall.

Speaking with CNBC, YouTuber, and former DOGE billionaire, Glauber Contessoto revealed that he would continue buying the dip.

“Dogecoin is my savings account”

At the time of writing, DOGE was trading for $0.18. The altcoin was seen recovering from yesterday’s massive crash. This volatile asset had lost an array of people over the last couple of months, but Contessoto urged people to buy the dip.

Contessoto claimed that he was a “Dogecoin billionaire” and his DOGE holdings had reportedly surpassed $1 million. The 33-year-old believes that the altcoin had already hit the bottom.

Furthermore, the YouTuber pointed out that he wouldn’t sell any of his DOGE despite the high volatility wave the asset is riding.

He stated,

“I can’t pass up a good bargain. Doge is my savings account.”

He even took to Twitter to reveal his recent purchase. The tweet read,

He further added,

“I had a game plan in mind going into this purchase, and I wouldn’t feel right always telling people to ‘buy and hold’ and as soon as I hit $3 million, cash out and leaving everyone else hanging. Until I reach my goal, I’ll continue to buy, hold and ‘diamond hand’ it.”

Coinbase CEO reacts to DOGE creator’s recent outburst

by

The members of the crypto-verse always have cover for the industry. Coinbase’s CEO and co-founder, Brian Armstrong’s latest set of tweets is a significant example of the same.

Just last week, Jackson Palmer, the Dogecoin [DOGE] creator, took to Twitter to reveal why he would never return to the crypto industry. While elaborating on this, Palmer went on to diss the crypto-verse by suggesting that the crypto industry was nothing but an “inherently right-wing, hyper-capitalistic technology.” Talking about the scarcity of certain assets, he noted that they were “artificially enforced.” he also stated that the market was formulated to steer away from tax and regulatory oversight.

This undoubtedly stirred some heat in the market. Coinbase’s CEO, however, dealt with it in a composed manner and tweeted to Palmer, saying everything depended on one’s perspective.

Coinbase’s CEO highlights: “Crypto is a much needed breath of fresh air”

In an array of tweets, the Coinbase CEO suggested how certain people rely on the government for solutions. This, in turn, gives the fiat system the upper hand. Speaking about the other category, Armstrong stated,

“2/ If you believe government solutions are often inefficient, overpromise/underdeliver, and come with unintended consequences, and that personal responsibility mixed with free markets will create better outcomes for everyone, then crypto is a much needed breath of fresh air.”

Furthermore, Armstrong reminded Palmer and his followers how free markets were very “messy.” Breakthroughs happen only after going over a lot of bad ideas, he added. Elaborating on accredited investor laws, the Coinbase CEO tweeted,

Capture

He went on to credit Bitcoin’s ability in making people wealthy to this law. The fact that BTC wasn’t a security-enabled people to pour into it from the very beginning.

In addition to this, he noted how crypto wasn’t here to eliminate wealth inequality. Instead, the market was focused on creating “wealth mobility” as well as “equality of opportunity. It levels the playing field, at least to some degree.”

He concluded with,

“9/ Crypto is simply providing an alternative for people who want more freedom. Everyone can make their own choice, and that is probably a good thing.”

Could Dogecoin [DOGE] be heading below $0.20?

by

Dogecoin [DOGE] was seen riding the bear, similar to all the other coins in the market. Bitcoin [BTC] seemed to be having a hard time setting up a significant line of support as well as resistance. The king coin was back at $32K, during press time, with a 3% slump in the last 24-hours. Ethereum [ETH] followed a similar notion as its price was slashed from $2K. ETH was trading for $1,974.

At the time of writing, DOGE was priced at a low of $0.20 with a 5.77% in the last 24-hours. The coin didn’t fare all that well over the last couple of days either. The altcoin plummeted by about 15% in the previous seven days. The altcoin seemed to be on the brink of dropping down below $0.20.

Not only did Dogecoin fall in terms of price, but also a market cap. While the overall market cap of the crypto-verse stands at $1.35 trillion, DOGE was seen accounting for $26.24 billion of the total number. Other prominent coins like Cardano [ADA], XRP, and USD Coin [USDC] had overshadowed DOGE and pushed the latter to the eighth rank.

Dogecoin [DOGE] one-hour price chart on Binance

Dogecoin

The short-term price chart of DOGE observed a conflict between the bull and the bear. The Parabolic SAR indicator announced the presence of the bull by laying out dotted lines over the candlesticks. However, the majority inclined towards the bear.

The Chaikin Money Flow [CMF] indicator was seen singing to a whole new tune. The CMF marker was below the zero median, which is considered a bearish momentum. The signal line was slowly taking over the MACD line which further indicated a bearish crossover.

Dogecoin [DOGE] notes strong sellers’ sentiment

yzUj8P6k

The one-hour price chart of DOGE announced a major sellers’ market. The Relative Strength Index [RSI] indicator was making its way onto the oversold zone. The RSI marker was going towards 20 median. The Money Flow Index [MFI] mirrored this notion as it dropped to the sellers’ arena.

Dogecoin [DOGE] has stuttered in its pursuit of surging above $0.25

by

Even as Bitcoin’s [BTC] price movement was stuck in the predictable range, altcoins have strived for higher. Dogecoin [DOGE], on the other hand, made a quick succession downward after staging recovery patterns over the past week. This trend was enough to extend its weekly losses to 8.43%.

Several crypto-asset exhibited weakness along with DOGE as the global crypto market hovered over $1.46 trillion. The decreasing volatility in the DOGE market was also concerning.

Over the past 24-hours, Dogecoin [DOGE] declined by 0.23% which drove its price to $0.234. At the time of writing, the digital asset recorded a market cap of billion $30.56 billion and a 24-hour trading volume of $1.23 billion.

Dogecoin [DOGE] Daily Price Chart:

DOGE

Dogecoin [DOGE] slipped back to its nearest support as depicted on the above daily chart. This trend was accompanied by the 50 DMA [Pink] and the 100 DMA [Blue] suffering a bearish crossover while hovering above the candlestick arrangement.

The 200 DMA [Yellow], on the other hand, settled below the DOGE candles. Another cause of worry was the depreciating trading volume which can thwart hints of a bullish move.

DOGE2

The dotted markers of Parabolic SAR aligned below the DOGE candles depicted a promising picture for the crypto-asset. The green closing bars of Awesome Oscillator [AO] exhibited that the weak bullish momentum has declined and could soon result in a flip to the red territory.

The RSI appeared to be declining in tandem with the downsloping price action of DOGE below the 50 median line suggesting a sentiment of rising sell pressure in the market.

Dogecoin will have to steer clear from the moving averages at $0.30 to recapture its lost momentum and surge to resistance levels of $0.43, $0.55, and $0.69. However, with the build-up of selling pressure in the market, the bears may try to sink the price to its nearest support level of $0.169, a breach of which could further result in the coin testing a low of $0.05.

Dogecoin [DOGE] inert price remains untethered by Elon Musk’s tweet

by

Dogecoin [DOGE] played a significant role in boosting the popularity of the crypto-verse. Tesla’s founder, Elon Musk’s love for the coin and Gen Z’s TikTok videos elevated the presence and the price of the currency. This seems to have come to an end as Dogecoin remained below $0.30 for quite a while.

The recent crypto carnage diminished all the gains that the coins had garnered throughout the year. Even though DOGE failed to hit $1, the hopes surrounding the currency did not die down. At least, Musk made sure to keep the coin relevant by tweeting about it.

While several other cryptocurrencies have noted dainty recovery over the last couple of days, DOGE traversed within the $0.30 to $0.20 range. At the time of writing, DOGE was trading for $0.24 with a 4.83% in the last 24-hours. The entire week hasn’t been favorable for the altcoin as it experienced a 6% slump.

With regard to ranking and market cap, the altcoin managed to maintain its place as the sixth largest cryptocurrency. The altcoin’s market cap stood at $31 billion.

Dogecoin [DOGE] one-hour price chart on Binance

Dogecoin

The short-term price chart of DOGE on the cryptocurrency exchange Binance noted a bearish sentiment. The Bollinger Bands indicator revealed limited volatility as the bands were diverging. This notion could be good for the altcoin, the Chaikin Money Flow [CMF] indicator announced. With the CMF marker below the zero median, DOGE was residing in the bearish realm.

Additionally, DOGE was in a sellers’ market as the Relative Strength Index indicator’s marker was below the 50 median.

While the price of DOGE has been bleak for a while, Elon Musk tweeted about the altcoin. Dogecoin has witnessed dainty as well as significant changes with regard to price right after Musk’s tweets. Dogecoin’s association with the bear seems to be mighty this time as his most recent tweet has made no impact on the altcoin. The tweet read,

Dogecoin [DOGE] Bets on Safety As Price Move Into Greener Pastures

by

Dogecoin [DOGE] and its peer altcoin market’s recovery over the past week has brought in more positive sentiment for the industry and its proponents. Bitcoin’s price climb generated enough momentum for altcoins such as Ethereum [ETH] and Dogecoin [DOGE] to also jump on the rafters.

Jackson Palmer’s meme project has definitely done well for itself with the seventh-largest cryptocurrency on the charts holding a market cap of $31.5 billion. At press time, Dogecoin [DOGE] was trading for $0.23 after a 10.5 percent surge over the previous 24-hours. DOGE’s latest hike occurred post an immediate support break.

Dogecoin [DOGE] 1 hour:

doge 1hr

Hourly charts painted a rosy picture for the cryptocurrency with the formation of a sustained support. The current hold was at $1.69 while the immediate resistance was marked at $2.83.

The Relative Strength Index climbed towards the overbought zone after a noticeable hike in DOGE’s price. As more investors enter the ecosystem the graph is expected to touch the overbought threshold. According top the Chaikin Money Flow indicator, the capital coming into the DOGE market was not enough to outweigh the oversell.

Only the Parabolic SAR fully sided with the bull as the markers remained below the price candles. The sustained hold at the bottom signified an effective bull run.

DOGE 1 day:

doge 1 day

DOGE’s performance in the long term has been split since January of this year. June’s bear run has wiped out most of the gains racked up this year. The Chaikin Money Flow indicator sharply turned towards the zero line as more investors pumped money into the DOGE ecosystem.

The Relative Strength Index had capitulated near the oversold zone. It remains to be seen if the movement will be positive at market open but if the candles hold firm, the overbought zone may appear at sight. The Parabolic SAR for the long term was opposite to the earlier chart as all the markers were above the candles.

Dogecoin [DOGE] slides to April-lows, no signs of bullish reversal

by

Dogecoin [DOGE] slipped to the seventh position following the market-wide tumble on 21st June. The combined valuation of the cryptocurrency market fell to $1.34 trillion while the meme-coin weekly losses extended to 40%. This was in response to China’s PBoC ordering domestic financial institutions to promptly curtail payment channels for crypto trading.

The volatility in the market has increased following the latest abrupt drawdown. However, retail traders do not seem to be buying the dip this time.

Dogecoin [DOGE] depreciated by nearly 22% over the past day which drove its price to $0.207, a low not seen since mid-April. At the time of writing, the digital asset held a market cap of $27.15 billion while registering a trading volume of $7.47 billion.

Dogecoin [DOGE] Daily Price Chart:

DOGE 4

TWJ had earlier predicted the price go down as the trend paused after the formation of a continuation pattern on the daily Dogecoin [DOGE] chart. The low volume in the market has strongly impeded any scope of growth in the market.

While the 50 DMA [Pink] continued to resist the DOGE candles, the 100 DMA [Blue] also moved over them on Monday as the price fell after weeks of sideways price movement. The upsloping 200 DMA [Yellow] neared the candlestick arrangement.

DOGE2 2

The red closing bars of Awesome Oscillator depicted an increasing bearish momentum. The buying demand has taken a massive hit following the dump and hence a phase of bearishness as indicated by the MACD. The Relative Strength Index [RSI] also slid to the oversold conditions suggesting a sentiment of intense sell pressure in the coin market.

As Dogecoin breached critical support levels, no bullish signals emerged to demonstrate the formation of a bottom. Hence, there could be more downside potential. The key support levels for the meme-coin were found to be at $0.15, and $0.52. The resistance levels, on the other hand, stood untested at $0.39, $0.55 and $0.69 respectively.

Bitmain rolls out Dogecoin and Litecoin mining equipment amidst China’s big mining crackdown

by

Prominent crypto mining equipment manufacturer, Bitmain had been making immense news throughout the last two years following its shake-up in management. However, the mining company has made headlines yet again with its latest launches.

Bitmain’s saga became so well-known that the entire crypto-verse was talking about it. While the firm’s founders fought for a long time, they finally agreed to settle in December 2020. The dispute had little effect on the firm’s sales as most of the mining equipment was sold out for quite some time. Bitmain seemed to be doing well as it recently announced the launch of mining equipment for two more cryptocurrencies.

Bitmain launches L7 mining machine for DOGE and LTC

As per a recent tweet by Chinese crypto blogger, Colin Wu, Bitmain had unveiled the latest L7 minting machine used to mint Litecoin [LTC] as well as popular meme coin, Dogecoin [DOGE]. While the firm’s Bitcoin mining machines are a hit, the community awaits to see what the latest equipment had to offer.

Wu noted that the L7 machines were equipped with a hash rate of 9500MH/s along with 3425W. Priced at $15000 per unit, this product is yet to be made available, however, the delivery time for it is November 2021. He tweeted,

Being established in China’s capital, Beijing, Bitmain currently stands as the world’s largest Bitcoin mining pool. Recently, the Chinese authorities took down 26 mining farms in Sichuan. The officials even asked power generating platforms to retain from providing power to any crypto mining farms.

While China is undoubtedly eyeing the closure of all sorts of crypto platforms in the country, several mining farms were seen migrating to different regions. Bitmain, for instance, has already set up shop in various parts of Inner Mongolia. Several other platforms have sought a similar solution as the Chinese government intensifies its crypto mining regulations.