Dogecoin founder explained the success of this flowchart in his own way
Dogecoin founder Billy Markus revealed his vision for EZ Flowchart’s success. In his tweet, the founder of the most popular meme-coin revealed in detail a successful flowchart, using Dogecoin as an example.
Community that is cool and engaged regardless of price -> Doge brand stays relevant and powerful -> Companies continue to engage -> Viral power continues -> Utility increases from adoption -> Contributors keep contributing -> Future 👍
Lame community -> Future 👎
— Shibetoshi Nakamoto (@BillyM2k) July 23, 2021
“Recipe for success” from Markus
1. “A coolly engaged community”
First and foremost, Markus mentioned the Dogecoin community. According to him, the Dogecoin community is coolly engaged, and this happens regardless of the price situation for the meme cryptocurrency.
Billy Markus called Dogecoin a relevant and powerful brand. Moreover, he noted that it remains so to this day. This, in turn, gets other companies involved in a common process.
3. “Viral power”
In addition to the above, the founder of Dogecoin also mentioned the “viral power” of the meme. Recall that this cryptocurrency is actively supported by the founder of Tesla, Elon Musk, as well as other active members of the crypto community. Dogecoin is also periodically mentioned in the social networks of celebrities. This is in some ways a source of self-promotion.
Markus, in his tweet, also touched on the usefulness of the process. He noted that, in the case of Dogecoin, the principle of utility works. Thus, based on acceptance, the utility of the cryptocurrency is increasing.
5. The role of the community
The increase in utility contributes to an active community and an appropriate response. According to Markus, this factor leads to the increase of the contribution from the Dogecoin community. All of this has a positive impact on the future of meme cryptocurrency.
What is not “good” for Markus?
The founder of Dogecoin ended his tweet by criticizing the Late Community. In his opinion, it cannot have a bright future.
Recall that, compared to Bitcoin, Dogecoin is cheap. This is influenced by the lack of emission restrictions, as well as a fairly fast initial mining period. Dogecoin was designed to make a coin that is in demand among ordinary users, based on its cheapness.
Dogecoin Forecast and DOGE/USD Analysis October 22, 2021
DOGE/USD are traded at 0.2460 and continue to move within the correction and the bullish channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices are testing the area between the signal lines again, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 0.2345 area. Where can we expect a rebound again and a continuation of the rise in the Dogecoin rate with a potential target above the level of 0.3205.
Dogecoin Forecast and DOGE/USD Analysis October 22, 2021
In favor of the growth of DOGE/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 0.2105 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 0.1745. With the breakdown of the resistance area and closing of quotations above the level of 0.2845, we should expect confirmation of the development of a bullish trend in Dogecoin, which will indicate a breakdown of the upper border of the ”Triangle” model.
Dogecoin Forecast and DOGE/USD Analysis October 22, 2021 therefore imply an attempt to correct and test the support area near the 0.2345 level. Where can we expect a rebound and continued growth in DOGE/USD to the area above the level of 0.3205. An additional signal in favor of a rise in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.2105 area. This will indicate a continued decline in cryptocurrency with a target below 0.1745.
Dogecoin Adoption in the US Supercedes Bitcoin and Ethereum, According to New Crypto Survey
The adoption rate of Dogecoin (DOGE) in the US is nearly double that of the rest of the world, according to a new survey from the Australian publication Finder.
The survey polled 41,645 individuals in 22 countries and found that nearly a third of all cryptocurrency holders in the US own Dogecoin.
“Of those that own crypto, Dogecoin sees its highest adoption in the United States with 30.6% of crypto owners saying they own Dogecoin. This is 1.6 times the global average adoption rate of 19.2%.”
The Finder survey says that Cardano (ADA) enjoys the highest popularity in Australia, where more than a quarter of the country’s adult crypto holders own ADA.
“Cardano sees its peak in adoption in Australia, where 26.3% of the online population who own crypto say they have Cardano, which is 1.4 times the global average adoption rate of 18.5%.”
Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) enjoy the highest adoption rates in Asia.
More than three-quarters of Japanese crypto holders own BTC, while over half of Singaporean crypto holders possess ETH. Slightly more than a quarter of Indonesian crypto holders have BNB.
“Bitcoin has the highest adoption in Japan with 76.7% of adults who own crypto saying they own Bitcoin. This is 1.3 times the global average adoption rate of 58.9%.
Ethereum sees its highest adoption with crypto owners in Singapore with 52.4% of adults who own crypto saying they own Ethereum. This is 1.9 times the global average adoption rate of 27.4%.
Binance Coin sees its highest adoption among those who own crypto in Indonesia, with 26.9% of respondents who own crypto saying they own Binance Coin. This is 1.8 times the global average adoption rate of 15%.”
Dogecoin Price Struggling Near Vital DMA Lines, With Average Volume Activity.
- Dogecoin price is currently trading near its major moving averages of 20, 50, 100, and 200-day lines, with slightly lower volume activity.
- The digital asset is presently trying to suppress its vital DMA lines and holding its 100 and 200-day lines.
- The pair of DOGE/BTC is trading at 0.000003868 BTC with an intraday gain of +1.02%, and the ratio of DOGE/ETH is CMP at 0.0000595 ETH with a 24-hour change of -5.98%.
Dogecoin price over the monthly chart is trying to sustain above its all vital moving averages of 20, 50, 100, and 200-day lines. Meanwhile, volume activity over the chart is slightly lower and needs to grow strongly. Similarly, the sustainability above its vital DMA lines with supportive volume activity will boost more upside in upcoming trading sessions.
Once the crypto asset jumps above its vital DMA lines, supportive volume activity will create the next lap of bullish move till $0.32 to $0.36. Support on the lower side is $0.2250 and $0.1945, whereas resistance on the higher side is $0.2720 and $0.3260.
Dogecoin price is trading under the bullish chart pattern while creating higher highs and lows
Dogecoin price at the weekly chart is trading under the bullish chart pattern while creating higher highs and lows. Meanwhile, the technical parameters are slightly neutral, with a slight recovery from lower levels. Volume over the chart slightly increases and needs more growth for a continuation of the pattern. DOGE price is trading at $0.2573 with an intraday gain of +2.34%, and the volume to market cap ratio is 0.06616.
Relative Strength Index (BULLISH): Dogecoin price RSI is heading towards the overbought zone after a good recovery from the lower levels. In contrast, the coin trades on a higher note and projects slight caution with longs and RSI at 56.