Dogecoin Daily: Price Takes A Hit To Start A Challenging Week For Crypto

Dogecoin DOGE/USD traded 3.7% lower at $0.07 over 24 hours leading up to early Monday morning. 

DOGE fell alongside other major coins as the global cryptocurrency marketcap declined 3.1% to $915.4 billion at press time.

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The DOGE Factors

• The 24-hour trading volume for DOGE rose 12% to $291.24 million, according to CoinMarketCap
• Coinglass data indicated that $682,950 worth of DOGE was liquidated over 24 hours as the price of the meme coin fell
• DOGE’s relative strength index stood at 44.74 at press time. An asset with an RSI of less than 30 is considered to be oversold, while one with above 70 is considered overbought

Challenging Week Ahead For Crypto

Wednesday will see the release of Consumer Price Index (CPI) data along with earnings numbers from major companies. Both could put pressure on risk assets such as stocks and cryptocurrencies. However, the apex coin has been stabilizing even amid a mood of “risk aversion” on Wall Street, according to OANDA senior market analyst Edward Moya.

Only Brickbats, No Bouquets 

Dogecoin co-creator Billy Markus lamented on Twitter that he always is the subject of negative reactions no matter at which price point he warns cryptocurrency investors.

DOGE On The Web

Dogecoin Foundation Director Timothy Stebbing said Sunday he was helping an artist set up a wallet so he could sell his artwork for the meme coin. 

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