Connect with us

Dogecoin

Dogecoin (DOGE) Becomes a Top 3 Crypto at $0.77, Flippening BNB

Published

on

  • Dogecoin is now ranked 4th on Coinmarketcap
  • DOGE has edged out heavyweights such as XRP, Tether (USDT), ADA and Polkadot
  • Dogecoin (DOGE) could become a top 3 digital asset at a value of $0.77
  • This is based on the assumption that BNB’s market cap stays at $100 Billion
  • Dogecoin is once again be set for a pullback but Elon Musk’s SNL appearance might offer additional bullish momentum

The popular meme-coin of Dogecoin (DOGE) is now ranked 4th in terms of market capitalization. At the time of writing, Dogecoin is trading at $0.615 with a market capitalization of $77.92 Billion as seen through the following screenshot courtesy of Coinmarketcap.com.

Dogecoin (DOGE) Becomes a Top 3 Crypto at $0.77, Flippening BNB 16

Dogecoin at $0.77 Will Flippen BNB

From the Coinmarketcap rankings, it can be observed that Dogecoin has leaped past crypto heavyweights such as XRP, Tether (USDT), Cardano (ADA) and Polkadot (DOT), on its way to the number 4 spot.

Furthermore, and assuming Binance Coin maintains its market cap at $100 Billion, Dogecoin will become the third most valuable digital asset at a value of $0.77.

The possibility of DOGE flippening Binance Coin (BNB) was explored by CZ who pointed out that such a feat would only be possible through the decentralization aspect of the crypto-verse. His exact statement was as follows.

Advertisement

In crypto, an abandoned meme coin over takes many hard working projects, and currently barking at the top 3 spot. haha…

There are many things in crypto that I don’t understand. Such is the power of decentralization. I like BTCETHBNBDOGE and more.

John Bollinger Warns of Another Dogecoin Top

However, the inventor of Bollinger Bands, John Bollinger, has once again warned that Dogecoin (DOGE) might have hit a top with the recent all-time high of $0.69663 – Binance rate. Mr. Bollinger shared his analysis of DOGE through the following tweet.

Elon Musk to Host the Saturday Night Live Show on May 8th

To note is that the unofficial CEO of Dogecoin (DOGE), Elon Musk, is scheduled to host Saturday Night Live this Saturday, May 8th.

Therefore, speculation is high that Mr. Musk will probably mention DOGE during the show and introduce the digital asset to millions of viewers in the US and globally. Such a possibility has led many traders to believe that the $1 Dogecoin price target might be achieved on this date.

Advertisement

As a precaution, traders and investors are reminded that DOGE hardly follows technical analysis 100%. Its wild price swings are based on social media discussions and adoption as seen with the Dallas Mavericks. Therefore, trading DOGE on spot markets is highly recommended rather than using high leverage on futures.

News Source

Advertisement

Dogecoin

Dogecoin network update to boost mainstream adoption, trigger next DOGE rally

Published

on

  • Dogecoin can now be spent at 1,704 merchants, nearly three times last year.
  • Co-founder Billy Markus argues that if all major miners and node operators update to version 1.14.4, fees can be lowered by default.
  • Dogecoin ranks in top 10 cryptocurrencies mentioned the most on Twitter, social dominance of the memecoin increases.

The Shiba-Inu-themed cryptocurrency’s utility is rising with news of AMC’s adoption of DOGE as a payment method. Traders are now anticipating a reduction in transaction fees and a recovery in DOGE. 

Dogecoin update to reduce fees, likely to trigger breakout in DOGE

The Dogecoin core has been regularly updated over the past month. In August, a new version of Dogecoin Core, v1.14.4 was released to improve performance and lower recommended fees. 

The recommended update is not installed by all node operators. Its installation would enable future fee reductions in the DOGE network. Billy Markus, co-founder of Dogecoin tweeted about this recently, 

Advertisement

Once all major miners update to the latest version, transaction fee is expected to reduce 1000x for relay and 100x for mining. This is the first step towards lowering the recommended fee for DOGE, another network adaptation is expected to follow. 

With regular updates in its ecosystem, the altcoin’s utility is on the rise. Nearly 600 merchants accepted DOGE payments in January 2020, the number has climbed to 1704 since then. 

The altcoin’s rising acceptance becomes further evident from its rising social dominance. Over the past week, DOGE ranked in “top 10 most mentioned cryptocurrencies” on Twitter. A rise in social media mentions is followed by a rally in the altcoin. Analysts expect DOGE to recover, the altcoin is struggling after price was rejected at key resistance level. 

Advertisement

@venturefounder, a cryptocurrency analyst and trader, is of the opinion that even the most resilient memecoin, DOGE, is losing its dominance. The analyst predicts that there is a wait ahead of the next “perfect storm,” meaning a surge in Shiba-Inu-themed cryptocurrency’s price.

FXStreet analysts have predicted a drop in DOGE price to $0.15. 

Advertisement

News Source

Continue Reading

Dogecoin

Dogecoin Price Analysis: DOGE tests $0.20 again, ready to reverse next week?

Published

on

  • Dogecoin price analysis is bullish.
  • DOGE/USD still holds above $0.20.
  • DOGE is set to reverse today.

Dogecoin price analysis is bullish today as the market found support at the $0.20 support again today and the market currently looks to reverse. Therefore, we expect DOGE/USD to move higher over the next week and potentially return above the $0.23 local swing high.

Dogecoin Price Analysis: DOGE tests $0.20 again, ready to reverse next week? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leader, Bitcoin, is up by 1.62 percent, while Ethereum is up by 3.06 percent. Meanwhile, Cardano is the worst performer, with a loss of more than 5 percent.

Dogecoin price movement in the last 24 hours: Dogecoin still holds above $0.20

DOGE/USD traded in a range of $0.1945 – $0.2119, indicating mild volatility over the last 24 hours. Trading volume has increased by 17.32 percent and totals $1.5 billion, while the total market cap trades around $27 billion, ranking the coin in 10th place overall.

DOGE/USD 4-hour chart: DOGE set to reverse next week?

On the 4-hour chart, we can see the Dogecoin price refusing to move lower, indicating a potential reversal to come next week.

Dogecoin Price Analysis: DOGE tests $0.20 again, ready to reverse next week?
DOGE/USD 4-hour chart. Source: TradingView

Dogecoin price action has continued to trade in a bearish momentum over the past week. After a strong decline on the 7th of September, DOGE/USD saw consolidation last week above the $0.23 mark.

However, on Monday, DOGE finally broke lower and rapidly dropped to $0.20. From there, a retest of the $).23 previous support as resistance was seen during the middle of the week. 

Advertisement

Bears took over the Dogecoin price action again on Friday, resulting in another drop to the $0.20 support. Since further downside could not be reached again today, we expect that bears are finally exhausted, and Dogecoin is up for a significant reversal next week.

Dogecoin Price Analysis: Conclusion 

Dogecoin price analysis is bullish for today as another rejection for further downside was seen earlier today as the $0.20 mark was tested again. Therefore, we expect DOGE/USD to increase over the next 24 hours and potentially move past the $0.23 swing high early next week.

While waiting for Dogecoin to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

Advertisement

News Source

Continue Reading

Dogecoin

Elon Musk Will Always Have Support of DOGE Community: Major Dogecoin Account

Published

on

Owner of one of major Dogecoin Twitter accounts has promised that Elon Musk’s support to Dogecoin and its community will be mutually beneficial

Dogecoin account @itsALLrisky with over 183,000 followers has tweeted that the support given to Dogecoin by the Tesla CEO Elon Musk will not go unnoticed by the community.

The Twitter user referred to it as “a mutually beneficial relationship” and has promised that the community of the most popular meme coin will always support Elon Musk.

Advertisement

He posted a picture of Boris Vallejo featuring Atlantis holding the Earth. The titan has Elon Musk’s face and there’s a Shiba Inu Doge character standing behind, offering his help.

Earlier this week, Elon Musk stressed the importance of making DOGE fees drop and supported the idea of the AMC cinema giant adopting Dogecoin for payments.

Advertisement

News Source

Continue Reading

Trending