Is Bitcoin's Recovery A Sign That Dogecoin Is About To Find The Floor Finally?

Dogecoin DOGE/USD traded almost 2.5% lower over 24 hours leading up to early Tuesday morning alongside other major altcoins.

Dogecoin, In Numbers: 

• 24-Hour Performance: -2.45%
• 7-Day Performance: -22.2%
• 30-Day Performance: -28.3%
• YTD Performance: -22.5%
• Why It’s Moving? DOGE fell along with Ethereum (ETH), Cardano (ADA), and Solana (SOL) cryptocurrencies as the global cryptocurrency market cap rose 0.5% to $1.6 trillion. The apex coin Bitcoin (BTC) was seen trading in the green at press time. 

Multiple analysts noted the reversal in Bitcoin’s trajectory on Monday, with Marcus Sotiriou, an analyst at the United Kingdom-based digital asset broker GlobalBlock stating that “Bitcoin has ranged between 29-35 on the weekly RSI [Relative Strength Indicator] suggests that the risk/reward is advantageous for buying in this area."

Benzinga’s Melanie Schaffer noted that DOGE could be settling into a bear flag pattern on its daily chart and if that is recognized, the cryptocurrency could drop under the 10 cent mark. In order to negate that pattern, DOGE will have to reclaim the eight-day exponential moving average on its daily chart.

DOGE was among the most mentioned coins on Twitter. It attracted 205 tweets, according to Cointrendz data.

The three most mentioned coins on the social network were Bitcoin, Ethereum, and Solana, which attracted 2,134, 1,012, and 522 tweets, respectively.

See Also: How To Buy Dogecoin (DOGE)

Dogecoin Chatter: On Monday, the final results of the CoinMarketCap Twitter poll that asked which top meme coins will survive and rise to the top in 2022 were revealed.

DOGE took third place with 13.5% of 161,509 votes. The winner was SAFEMOON (SAFEMOON) with 44.2% of the vote followed by Shiba Inu (SHIB) with 30.4% on the second spot.

Meanwhile, DOGE co-creator Billy Markus noted that Dogecoin and non fungible tokens have a lot of female holders. He also took a dig at Bitcoin maximalists.

“The maxis haven’t figured out that their white 20-45 year old male club of sanctimony isn’t [particularly] inviting to the human race,” said Markus.

Dogecoin / NFTs has a lot of female hodlers

the maxis haven’t figured out that their white 20-45 year old male club of sanctimony isn’t particular inviting to the human race

as I’ve said before, they are very bad at marketing

— Shibetoshi Nakamoto (@BillyM2k) January 24, 2022

Markus also engaged with Gemini Exchange co-founder Cameron Winklevoss who said “Bitcoin’s gold thesis hasn’t changed.”

bitcoin can be gold if dogecoin can be money

— Shibetoshi Nakamoto (@BillyM2k) January 24, 2022

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