Dogecoin Daily: Rally Loses Steam, Is Twitter Hiding Tweets On The Meme Crypto And More

Zinger Key Points

Dogecoin rally moderated early Tuesday
Meme coin advance overshadowed by another larger crypto
Dogecoin Foundation director calls out Twitter for "clumsy band-aid solution" for dealing with crypto scams
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Dogecoin DOGE/USD traded 0.8% lower over 24 hours at $0.065 in the early hours of Tuesday.

DOGE fell lower as major coins were mixed at press time and the global cryptocurrency market cap inched up 0.5% to $1 trillion.

Dogecoin Price Performance
Time-frame	% Change (+/-)
24-hour	-0.8%
24-hour against Bitcoin	1.3%
24-hour against Ethereum	-0.35%
7-day	20.45%
30-day	16.8%
YTD performance	-61.7%

The DOGE Factors

Dogecoin was not among the most-mentioned coins on Twitter at press time, according to Cointrendz
The 24-hour trading volume for DOGE shot up 100.7% to $606.56 million, according to data from CoinMarketCap
Coinglass data showed that $1.5 million worth of DOGE were liquidated over 24 hours as the price of the meme cryptocurrency declined
DOGE’s relative strength index stood at 49.08. If an asset’s RSI is below 30 it is considered oversold, while above 70 it is considered overbought

Dogecoin Gains Overshadowed By Ethereum

Cryptocurrencies, including DOGE, rallied on Monday, but the upsurge was dominated by Ethereum ETH/USD — the second-largest coin by market cap. Last week’s deployment of Shadow Fork 9 built buzz around the coin’s move to the proof-of-stake model. Crypto winter could be over in two weeks if the apex coin continues to stabilize over the next two weeks, said OANDA Senior Market Analyst Edward Moya.

Is Twitter Hiding DOGE Tweets?

Dogecoin Foundation Director Timothy Stebbing called out Twitter for their “clumsy band-aid solution” to deal with crypto scams while sharing a post that the social media platform hides tweets that use words like “send doge,” “give doge," and “offer doge.”

The Dogecoin community actively uses twitter to give to charities, raise funds for events, and tip artist & memers @TwitterSupport. Yes you need to deal with crypto spam but your clumsy band-aid solution needs some review as you're getting a lot of false positives now. https://t.co/4tapZbVDGe
— Timothy Stebbing (@tjstebbing) July 19, 2022

Stebbing said that “The Dogecoin community actively uses Twitter to give to charities, raise funds for events, and tip artist [and] memers” and that Twitter is “getting a lot of false positives now.”