DOGE Daily: Market Goes All Red Again But Dogecoin Foundation Director Hopeful Of Bright Future

Zinger Key Points
  • Doge trades in green after rally in meme coin loses steam
  • Doge network activity registered an increase in last 10 days says Santiment
  • Dogecoin Foundation Director Timothy Stebbing hopeful of a bright future for Shibes
DOGE Daily: Market Goes All Red Again But Dogecoin Foundation Director Hopeful Of Bright Future

Dogecoin DOGE/USD traded 2.7% lower at $0.064 over 24 hours leading up to Thursday morning.

The global cryptocurrency market cap declined 3.9% to $861.9 billion at press time.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -3.2%
24-hour against Bitcoin 1.6%
24-hour against Ethereum -2.3%
7-day 0.68%
30-day -24.8%

YTD performance

-62.8%

See Also: How To Get Free Crypto

The DOGE Factors

  • DOGE was among the most mentioned coins on Twitter, according to Cointrendz. The three most-mentioned coins were Bitcoin, Ethereum, and XRP at press time.
  • The 24-hour DOGE trading volume rose 25.8% to $635 million, according to CoinMarketCap data.
  • Coinglass data showed that $2.8 million worth of DOGE was liquidated over 24 hours as the price of the meme cryptocurrency saw volatility.

Inflation Back In The Spotlight 

Risk assets are once again under pressure as investors worry about the Federal Reserve delivering a “soft landing.” Cryptocurrency trader Justin Bennett said the total cryptocurrency market cap could slip down to the $700-$730-billion levels — a downside of 19% to 22% from the current levels.

Increased DOGE Network Activity

Santiment said Wednesday that the Dogecoin network appears to be showing an increase in network activity. The market intelligence platform tweeted that over the last 10 days DOGE network activity has risen 32%.

The Director Is Optimistic On DOGE Future

Dogecoin Foundation director Timothy Stebbing said the future for the DOGE community is “brighter than ever” now that former hurdles are being cleared. Stebbing tweeted that he’s “impressed by the calibre of people we have on our side.”

DOGE On The Web

DOGE co-creator Billy Markus said crypto winters are a time when people begin to understand the true nature of cryptocurrencies. 

“Maybe since the extreme greed has stopped infecting people’s brain cells, they can have a more rational view of the space,” Markus said in a Twitter thread.

Read Next: Barry Silbert's Grayscale Sues SEC For Rejecting Spot Bitcoin ETF Proposal

Posted In: dogecoinMeme Coinswhy it's movingCryptocurrencyNewsMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.