Dogecoin Daily: Price Dampens, Co-Founder Says 'Crypto Acting Like It's 2021'

Dogecoin DOGE/USD traded 1.45% lower at $0.07 over 24 hours leading up to early Friday morning.

DOGE traded lower alongside larger coins as the global cryptocurrency market cap fell 1.7% to $1.15 trillion.

See Also: Best USDC Interest Rates

The DOGE Factors

• DOGE was among the most-mentioned coins on Twitter at press time, according to Cointrendz. The three most discussed coins on the platform were Bitcoin, Ethereum, and XRP.
• The 24-hour trading volume for DOGE rose 16.4% to $519.44 million, according to data from CoinMarketCap.
• Coinglass data indicated that $1.53 million worth of DOGE was liquidated over 24 hours as the price of the meme coin declined.
• Dogecoin’s relative strength index was at 57.31 at press time, according to TradingView. An asset with RSI above 70 is said to be overbought; RSI below 30 denotes it is oversold.

Rally Fades, But Traders See Upside

The recent cryptocurrency rally spurred by the lower July inflation numbers began fading on Thursday evening but traders are hopeful of upward momentum continuing. Amsterdam-based cryptocurrency trader Michaël van de Poppe said the apex coin could touch the $30,000 mark next month, while the second-largest coin could touch the $2,500 level. 

Crypto Still In 2021 Mode

DOGE co-creator Billy Markus said that cryptocurrencies are acting as if they were still in 2021. Notably, DOGE shot up a whopping 3559.5% in that year. 

crypto acting like it’s 2021 still

— Shibetoshi Nakamoto (@BillyM2k) August 11, 2022

DOGE On The Web

Mishaboar, a DOGE-oriented Twitter handle, called upon graphics designers to assist DOGE developer Loladam who is working on a Simplified Payment Verification (SPV) wallet. The wallet is currently only functional via the terminal, according to Mishaboar.

If you are a graphics designer in love with #Dogecoin and Open Source, she is also in need of talent to help come up with a design proposition for the interface of the SPV wallet (which currently only works via Terminal).https://t.co/PyJU33kNQE

— Mishaboar (@mishaboar) August 10, 2022

SPV wallets aren't resource-intensive and are considered a good match for devices such as smartphones.

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