What’s going on with Dogecoin today? – Dogecoin – US dollar ($ DOGE)
Dogecoin (CRYPTO: DOGE) traded down 0.46% on a 24-hour basis to $ 0.20 early Thursday morning.
What is moving? The cryptocurrency itself has fallen 8.99% in the past seven days.
Against coins with larger market capitalization, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), DOGE fell 1.7% and 1.9%, respectively.
Year-to-date, DOGE has risen 3,477.28% to an all-time high of $ 0.74 in early May.
See also: How to buy Dogecoin (DOGE)
Why is it moving? DOGE traded mostly muted in tandem with other major coins, as the global cryptocurrency market cap rose 0.8% to $ 1.92 trillion.
See also: What’s going on with Ethereum?
DOGE did not see much interest from retail investors on Twitter at the time of publication. The coin was mentioned in 1,886 tweets, according to data from Cointrendz.
The most mentioned coins on Twitter were BTC and Solana. BTC and SOL were mentioned in 6,016 and 4,422 tweets, respectively.
The increased correlation between stocks and cryptocurrencies is raising concerns about inflation, which is on the rise in the United States.
On the other hand, the correlation between the biggest cryptocurrency, BTC, and commodities has waned in recent months due to rising oil and gas prices, according to CoinDesk.
According to a report from CoinQuora, DOGE is “nearly oversold” RSI of around 38 after losing 10% in the last seven days leading up to Wednesday.
CoinQuora’s analysis suggests that if the trend continues, DOGE could move to its $ 0.04 support level and drop lower, but the RSI number also bodes well for a trend reversal that could see the price. climb to the key level of $ 1.
Meanwhile, Verifone, one of the world’s largest point-of-sale providers, could allow users to make purchases with DOGE and other cryptocurrencies on its new range of terminals.
Verifone’s customer list includes Yum! Brands, Inc (NYSE: YUM) – a company that operates Taco Bell, Pizza Hut, and KFC restaurants.
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