Dogecoin DOGE/USD rose 1.3% higher at $0.08 over 24 hours leading up to Tuesday morning.
DOGE rose even as other major coins traded in the red at press time. The global cryptocurrency market cap declined 2.7% to $1.14 trillion.
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin||3.6%|
|24-hour against Ethereum||4.4%|
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The DOGE Factors
- Dogecoin was among the most-mentioned coins on Twitter at press time, according to Cointrendz. The three most-mentioned coins were Bitcoin, Ethereum, and Shiba Inu. DOGE was also seen trending on CoinMarketCap.
- The 24-hour trading volume for DOGE dropped 40.9% to $888.19 million at press time, according to CoinMarketCap.
- Coinglass data showed that $2.99 million worth of DOGE was liquidated over 24 hours as the price of the meme coin rose.
- Dogecoin’s relative strength index stood at 65.61, according to TradingView. An RSI over 70 makes an asset overbought, while one below 30 means an asset is in oversold territory.
Bearishness Returns to Cryptos
Major coins traded lower, tracking stocks, on Monday evening. Equity investors fretted over weak Chinese economic data.
Cryptocurrency trader Justin Bennett warned his Twitter followers to be on the lookout for the dollar index, a measure of the greenback’s strength against six other currencies. He said if the dollar index remains firm at the current levels, risk assets could come under pressure.
Easy Come, Easy Go
Dogecoin co-creator Billy Markus warned his followers that in cryptocurrencies gains of three months can get “wiped out” in three minutes.
crypto: where the gains of 3 months get wiped out in 3 minutes— Shibetoshi Nakamoto (@BillyM2k) August 15, 2022
DOGE On The Web
Dogecoin “millionaire” Glauber Contessoto said that DOGE rose 20% this month. Contessoto also shared a screenshot of an investment portfolio worth $302,015.97, which reflected over $56,000 in gains.
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