Home
News
- 1 Dogecoin co founder Billy Markus has given amusing response to the Balaji Tweet about BTC price
- 2 Technical indicators of DOGE are favoring consolidation in price. It has seen a drop of 2.5% in BTC pair
Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer. It was intended to be a fun and lighthearted cryptocurrency that would appeal to a wider audience beyond the traditional cryptocurrency community. Despite its humorous origins, Dogecoin has reached new highs in the crypto world. The value of Dogecoin surged in early 2021 after Tesla CEO Elon Musk tweeted about it multiple times. Dogecoin has a very low transaction fees, which make it an attractive option for microtransactions and small business. DOGE community is also known for its generosity, and they have raised funds for various charitable trusts. DOGE co-founder Billy Markus has recently tweeted an amusing response about the BTC prediction of Balaji. Various analysts are expecting a strong growth in DOGE with rise in crypto
DOGE has a market cap of $9.7 Billion and is ranked 9th in the crypto verse. Volume of the DOGE has seen a decline of 9% in the intraday session. Volume to market cap ratio of asset price suggests a consolidated momentum.
Is An Upside Trend Waiting For Doge?
The weekly technical chart of the DOGE suggests a downside momentum in price. On the daily chart it is currently in a consolidated trend. It is trading near the value of $0.07 with a drop of 1.7% in the intraday session. Resistance of the DOGE can be seen near $0.1. Meanwhile the support of the asset price can be seen near $0.05. DOGE is currently consolidating despite the rise in BTC. It is trading below the 50 and 100 Daily Moving Average. There can be negative crossover which can push the asset price to a new low.
RSI of the DOGE is currently near 46 suggesting its presence in the neutral zone. There is a weak positive slope suggesting a consolidation in price.
Conclusion
DOGE has been consolidating despite the rise in Bitcoin price in the past. Various analysts are expecting a strong growth in Dogecoin in near future.
Technical Levels
Major Support:$0.05
Major Resistance:$0.1
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
