|Performance after Wednesday 10-Aug|
Dogecoin (DOGEUSDT) price for the week to-date gained 4.10% or 0.00283 higher to 0.07180. At time of writing into Thursday’s trading session, Dogecoin has increased by 5.48% over the past 24 hours. For the record, DOGEUSDT is -90.19% below all-time high of 0.73158. On Wednesday, DOGE rose 3.22% to 0.07126.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.
For the month-to-date, DOGE is up by 5.48% or 0.00373 higher.
What can we expect from Dogecoin today?
Looking ahead for the day, we are looking at 0.07500 or 0.07299 (R1) as important resistance levels and daily low of 0.06649 and 0.06801 (S1) as key support levels. Dogecoin need to break on either side to indicate a short-term bias. A break above 0.07147 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Dogecoin is rising and up by 4.10% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-08-07 was 1.32%.
Key levels to watch out:
Last updated: 03:05 am UTC, 11-Aug 2022
Dogecoin is a cryptocurrency based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. Dogecoin is a Litecoin fork. Introduced as a “joke currency” on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined.Dogecoin was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia. Both wanted to create a fun cryptocurrency that will appeal beyond the core Bitcoin audience. Dogecoin is primarily used as a tipping system on Reddit and Twitter where users tip each other for creating or sharing good content. The community is very active in organising fundraising activities for deserving causes.The developers of Dogecoin haven’t made any major changes to the coin since 2015. This means that Dogecoin could get left behind and is why Shibas are leaving Dogecoin to join more advanced platforms like Ethereum. One of Dogecoin strengths is its relaxed and fun-loving community. However, this is also a weakness because other currencies are way more professional.To purchase Dogecoin, it involves downloading a crypto wallet, setting up a crypto exchange account and then trading away for your desired crypto currency. Once we have set up an account with a DOGE currency exchange and deposited some funds, you are ready to start trading.
Dogecoin is an open source peer-to-peer cryptocurrency, favored by shibas worldwide. Elon Musk thinks we're pretty cool. [RTs are not endorsements]
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