Dogecoin Daily: Rangebound Price, Elon Musk YouTube Scams And More

Dogecoin DOGE/USD traded 2.4% higher at $0.08 over 24 hours leading up to early Friday. 

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The DOGE Factors

• DOGE was among the most mentioned coins on Twitter at press time. The three most mentioned coins were Bitcoin, Ethereum, and Cardano, according to Cointrendz.
• The 24-hour trading volume for DOGE declined 49.95% to $400.05 million at press time, according to CoinMarketCap.
• Coinglass data indicated that $243,920 worth of DOGE was liquidated over 24 hours as the price of the meme coin rose higher.
• DOGE’s relative strength index was noted at 39.74 on Trading View. An RSI below 30 indicates oversold conditions, while above 70 this metric reflects overbought conditions.

Dogecoin, Other Coins Stuck In A Rut

Price action related to major coins, including DOGE, was mostly range bound on Thursday evening. Edward Moya, a senior market analyst at OANDA said it will take several more weeks before bearish sentiment on Wall Street improves and thats when the apex coin will get its “groove” back.

Dogecoin Update Coming Soon

Dogecoin core developer Patrick Lodder said on Reddit that the 1.14.6 update to Dogecoin could come as early as the end of June.

“We’ll be focusing on enabling as many contributions to make it into the release,” said Lodder. The update is expected to have security fixes and network hardening across platforms, according to Lodder.

Doge On The Web

Twitter handle “DogeDesigner” highlighted the issue of cryptocurrency scams by showcasing multiple scammers posing to be Tesla Inc TSLA CEO Elon Musk on YouTube.

The graphic designer at the Dogecoin Foundation asked YouTube to address the issue in a tweet and also tagged Musk.

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