What's Up With Dogecoin (DOGE) Today?

Zinger Key Points
  • Dogecoin trades higher with major coins
  • Pattern on chart indicates period of consolidation ahead
  • Mishaboar details progress in upcoming DOGE core release

Dogecoin DOGE/USD traded 1.55% higher at $0.065 over 24 hours leading up to Friday morning.

DOGE rose alongside other major coins as the global cryptocurrency market cap increased 3.1% to $928.9 billion at press time.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour 1.55%
24-hour against Bitcoin -1.2%
24-hour against Ethereum 1.7%
7-day 14.6
30-day -22.2%

YTD performance

-62.6%

See Also: Best USDC Interest Rates

The DOGE Factors

  • DOGE was not among the most mentioned coins on Twitter, according to Cointrendz. The meme coin was seen trending on CoinMarketCap, at press time.
  • The 24-hour trading volume for DOGE fell 18.9% to $459.83 million, according to CoinMarketCap.
  • Data from Coinglass indicated that $1.23 million worth of DOGE was liquidated over 24 hours as the price of the meme cryptocurrency rose.
  • DOGE’s relative strength index stood at 44.28 at press time. An RSI of below 30 indicates oversold conditions while above 70 the metric indicates overbought conditions.

Breakout Or Fakeout

Cryptocurrency trader Justin Bennett pointed out that the apex coin could be headed for either an immediate breakdown in the next 24-48 hours or a fakeout above resistance in the next few days. Contrary to his analysis, Michaël van de Poppe said Bitcoin is ready for $23,000 and attributed the downcast mood to people spreading the bearishness on the internet. 

The DOGE Chart

Benzinga’s Melanie Schaffer wrote Thursday that DOGE has settled into a double inside bar pattern on its daily chart; this is an indication of a period of consolidation which is usually followed by a continuation move in the direction of the current trend. The meme coin has resistance above the $0.065 and $0.083 levels and support below at $0.05 and $0.04 marks.

DOGE On The Web

Dogecoin-oriented Twitter handle Mishaboar said Thursday that the base translation for Dogecoin Core has been generated and credited DOGE developer Patrick Lodder and a junior developer Chromatic_x for the effort.

Read Next: Veteran Investor Thinks Bitcoin Provides Good Cues For Stock Market Bottom

Posted In: dogecoinMeme CoinsCryptocurrencyNewsMarkets

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