Dogecoin Daily: Price In Red, Shibes Sound Alarm Over 'Trojan Horse'

Dogecoin Daily: Price In Red, Shibes Sound Alarm Over 'Trojan Horse'

Dogecoin DOGE/USD traded 8.9% lower at $0.07 over 24 hours leading up to early Friday morning.

DOGE was seen trading lower along with other major coins as the global cryptocurrency market cap declined 3.15% to $1.1 trillion.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -8.9%
24-hour against Bitcoin -5.9%
24-hour against Ethereum -6.7%
7-day 4.4%
30-day 3.5%

YTD performance

-57.1%

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The DOGE Factors

  • Dogecoin was not among the most-mentioned coins on Twitter at press time, according to Cointrendz. However, DOGE was seen trending on CoinMarketCap.
  • The 24-hour trading volume for DOGE fell 7.6% to $762.07 million at press time, according to CoinMarketCap.
  • Coinglass data showed that $5.88 million worth of DOGE were liquidated over 24 hours as the price of the memecoin declined.
  • Dogecoin’s relative strength index was 51.65 at press time, according to TradingView. An asset with an RSI over 70 is considered overbought, and if its RSI is below 30, it’s considered oversold.

Strong Dollar — Weak Cryptos 

On Thursday evening, major coins, including DOGE, declined as the dollar index — a measure of the greenback’s strength against a basket of six of its international peers — shot up. Cryptocurrency trader Justin Bennett said that the dollar index, which stood at 107.57 on Thursday evening, could shoot up to as high as 120 over the next few months. A strong dollar “means risk assets down,” said Bennett. 

Libdogecoin Twitter Raises Eyebrows 

DOGE-oriented handle “Mishaboar” and others asked Shibes to report a Twitter account which they said was a “trojan horse.”

DOGE On The Web

The Real Shibes Podcast featuring developers Michi Lumin and inevitable360, and Dogecoin Foundation Director Timothy Stebbing took place on Thursday. 

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