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.
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin||1.6%|
|24-hour against Ethereum||-2.3%|
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%.
Whatever your opinion may be on #Dogecoin and #ShibaInu, 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. https://t.co/LDiWKEJIMg pic.twitter.com/JMjWQDzmtB— Santiment (@santimentfeed) June 29, 2022
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.”
Honestly feeling like former hurdles are being cleared and the future for the Doge community is brighter than ever. So impressed by the calibre of people we have on our side. #BUIDL pic.twitter.com/wrK5cbgDIi— Timothy Stebbing (@tjstebbing) June 30, 2022
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.
seems like during crypto winters, people actually finally start to understand what crypto is— Shibetoshi Nakamoto (@BillyM2k) June 30, 2022
i enjoy all these “realizations” that keep coming out that are basic knowledge
“bitcoin is actually easy to track!” sure is
“exchanges are centralized and not safe!” yeah duh
“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.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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