Dogecoin DOGE/USD traded 2.9% lower at $0.05 over 24 hours leading up to early Wednesday morning. DOGE crashed alongside other major coins as the global cryptocurrency market cap declined 2.4% to $939 billion at press time.
While there was no end in sight for the bear market, there's optimism around a new product launch related to Dogecoin.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | -2.9% |
| 24-hour against Bitcoin | 0.4% |
| 24-hour against Ethereum | 4% |
| 7-day | -32% |
| 30-day | -40.3% |
|
YTD performance |
-69.7% |
See Also: How To Get Free Crypto
The DOGE Factors
- DOGE was among the most mentioned coins on Twitter at press time, according to Cointrendz data. The three most mentioned coins were Bitcoin, Ethereum, and Cardano
- The 24-hour DOGE trading volume fell 32% to $764 million, according to CoinMarketCap.
- Trading View data indicates DOGE’s relative strength index was at 22.05 at press time. An RSI below 30 is considered to be “oversold.”
- Data from Coinglass indicates that $1.5 million worth of DOGE was liquidated over 24 hours as the price of DOGE fell sharply.
Crypto Remains Under Pressure
Cryptocurrencies remain under pressure ahead of a key interest rate policy announcement by the U.S. Federal Reserve on Wednesday. OANDA Senior Market Analyst Edward Moya said that the apex coin traders “better be buckled” as a hawkish decision could put pressure on the asset.
Rumors swirled Tuesday that Singapore-based hedge fund Three Arrows Capital was going bust. The co-founder of 3AC Zhu Su gave pace to the rumors by tweeting that he was “fully committed to working this out.”
Major Dogecoin Project Coming Up
Libdogecoin v0.1, a dogecoin building blocks repository that will help people to build DOGE products of their own, is nearing release, according to Michi Lumin. Libdogecoin will allow users to create compliant products without having to deal with cryptocurrency functions and their specifics.
DOGE On The Web
Dogememegirl, a graphic artist with the Dogecoin Foundation said that the first Big3 basketball league game featuring the Aliens will take place on June 19. The Aliens are sporting DOGE logo on their jerseys, as per an earlier report.
Go @big3aliens ! Representing #Doge in the @thebig3 basketball league first game coming soon, on June 19th!
— Dogememegirl (@Dogememegirl) June 13, 2022
Alien team as well as other Doge promotion banners are available for download on the website.
https://t.co/KiWMDkwrYf #Dogecoin #Dogefam #Dogearmy pic.twitter.com/klUieNWVYh
Gokhshtein Media CEO and DOGE-bull David Gokhshtein asked his followers if they picked up more of the meme coin as its price slid to 5 cents on Tuesday.
Did anyone pick up more $DOGE at $0.05?
— David Gokhshtein (@davidgokhshtein) June 14, 2022
Read Next: How Low Does Bitcoin Have To Fall Before MicroStrategy Is Forced Out Of Its Massive Pile Of Coins?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
