Dogecoin (DOGE) Reviews for April 2024

Dogecoin is struggling to rise above the 20-day EMA ($0.07), but a positive sign is that the bulls have not ceded ground to the bears. The flattening 20-day EMA and the RSI just below the midpoint suggest range-bound action between $0.06 and $0.07 for some time. If bulls propel the price above the moving averages, the bulls will try to overcome the obstacle at $0.07. If they can pull it off, the DOGE/USDT pair may climb to $0.08. The bears will gain the upper hand if they sink and sustain the price below the crucial support at $0.06. The pair may then tumble to $0.05.

Dogecoin has traded near the 20-day EMA ($0.07) for the past few days, indicating indecision among the bulls and the bears. The flat 20-day EMA and the RSI near the midpoint do not give an advantage either to the bulls or the bears. This uncertainty will clear if the price breaks above the 200-day SMA or plummets below $0.07. If the price rises above the 200-day SMA, the DOGE/USDT pair could pick up momentum and rally toward the $0.10 to $0.11 resistance zone. The bears are likely to defend this zone with vigor. On the downside, a break below $0.07 could result in a retest of the support near $0.06.

Dogecoin has been gradually grinding down toward the strong support near $0.07 but a minor positive is that lower levels are attracting buyers, as seen from the long tail on the March 6 and March 7 candlestick. The bulls are trying to push the price toward the breakdown level of $0.08. This level is likely to attract strong selling by the bears. If the price turns down from $0.08, the DOGE/USDT pair may drop to $0.07 and remain stuck between these two levels for some time. The bears may find it difficult to break the support near $0.07 but if they do, the pair could tumble to the next major support near $0.06. On the upside, a break and close above the downtrend line will signal the start of a possible recovery toward $0.10.

Dogecoin is witnessing a tough battle between the bulls and the bears near the moving averages. A minor positive is that the bulls have not allowed the price to sustain below the 50-day SMA ($0.08). If buyers propel the price above the 20-day EMA, the DOGE/USDT pair could rise to the psychological resistance at $0.10. The bears are expected to protect the zone between $0.10 and $0.11 with vigor because if it is scaled, the pair could pick up momentum and skyrocket to $0.15. Conversely, if the price sustains below the 50-day SMA, the bears will attempt to sink the pair to the critical support at $0.07. This level is likely to attract aggressive buying by the bulls.

Absent shill and bullish newsflow, DOGE and SHIB have struggled to keep up with the wider crypto market rally that occurred in January. The memecoin phenomenon didn’t prove as effective in the last month’s crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of Bitcoin stood at 44.5%, while the top two meme-based coins, Dogecoin and Shiba Inu, gained 27% and 40.7%, respectively.

Dogecoin is losing its popularity, as its most prominent supporter Elon Musk is reportedly developing an independent Twitter Coin instead of integrating his favorite cryptocurrency with the social media platform. For the greater part of 2022, DOGE/USD performed poorly except for when Elon Musk acquired Twitter. The acquisition raised hopes in the Dogecoin community about increased cryptocurrency usage. However, without any tangible announcements or reports from Twitter hinting at Dogecoin usage, the 100% price surge from October reversed in the following two months. The Google search volume for the token has also subsided since Q1 2022.

The bears are not allowing Dogecoin to sustain above $0.09 and the bulls are not letting it dip below the 20-day EMA ($0.08). If the price turns up from the current level, the bulls will again try to force the DOGE/USDT pair above $0.09. If they can pull it off, the pair could soar to $0.11, where the bears may again mount a strong defense. Conversely, if the price breaks below the 20-day EMA, the next stop could be the 50-day SMA ($0.08). This level could act as a minor support but if bears sink the price below it, the pair could collapse to the critical support near $0.07.

Dogecoin’s rebound off the important support at $0.07 fizzled out at the 20-day EMA of $0.07 on Jan. 5. This suggests that bears are selling on every relief rally. The price has dropped back to the $0.07 support where buyers are mounting a strong defense because if the level breaks down, the DOGE/USDT pair could tumble to $0.06 and thereafter to the vital support near $0.05. The downsloping moving averages and the RSI in the negative territory indicate that bears have the upper hand. If bulls want to salvage the situation, they will have to propel the price above the resistance zone between the 20-day EMA and $0.08. That could start a sustained recovery toward $0.11.

Dogecoin devs deny rumor of immediate PoS switch following community concern. The developers of Dogecoin have denied rumors that the network is immediately switching to proof-of-stake (PoS), saying that they are merely planning to release a proposal on the topic. The repudiation came on Dec. 29, from the Twitter account of Michi Lumin, principal engineer for the Dogecoin Foundation. Lumin stated that the Dogecoin Foundation does not have the power to upgrade the network without the consent of validators, explaining: “It is not possible for, nor is it planned for, an individual, organization, or body to ‘move’ or ‘shift’ or ‘change’ #dogecoin to PoS. All that can be done is: it can be outlined, perhaps coded, and given to the community (and validators) to decide to take up or not […] the repeated sensationalist (to get views/follows) refrain of people saying that #dogecoin ‘is moving to PoS’ is ridiculous, and absolutely not how it works or can work. It will not and can not be done by edict, or force…” The denial comes after the Rabid Mining YouTube channel published a video on Dec. 28 titled “What if Dogecoin Moves to PoS?” It was shared on Twitter and Reddit with the comment, “DOGECOIN's Merge To POS Will Kill Scrypt Miners profits by over 60%.”

DOGE-1 moon mission set for launch with SpaceX in early 2022. The Dogecoin-funded payload appears to be on track for launch in the first quarter of 2022 onboard SpaceX’s Falcon 9. DOGE-1, the first crypto-funded mission to the moon, is set to launch early next year following a new partnership between two blockchain companies and manufacturer Geometric Energy Corporation, also known as GEC. Smart exchange ecosystem Unizen and decentralized finance incubator ZenX announced Wednesday that they are in the process of building and launching DOGE-1, a 40-kilogram - roughly 88 pounds - CubeSat that will provide a new use case for cryptocurrencies. The CubeSat will travel to a “stable lunar orbit” in order to obtain lunar-spatial intelligence from sensors and cameras that will be sent back to GEC for analysis. The CubeSat will be deployed through a launch agreement with SpaceX FalconX slated for the first quarter of 2022, though no hard dates were provided. Over 1,600 CubeSats have been launched to date, but unlike DOGE-1, they’ve traveled into Low Earth Orbit, which is between 100 and 1,200 miles above the Earth’s surface. Traveling to lunar orbit puts DOGE-1 250,000 miles away from Earth.

Memecoins and dog-themed tokens are gaining more popularity and traction as the long-term upside seems very limited amid the flooded market. Meme tokens and dogcoins have been an integral part of the ongoing market-wide bull run in the cryptocurrency markets. Among the plethora of these tokens that have been flooding the market, two of these tokens, the longer-standing memecoin Dogecoin (DOGE) and Shiba Inu (SHIB), have gained the most traction and popularity.

Dogecoin (DOGE) broke and closed below the $0.21 support on Sept. 20, but the bears could not crack the next support at $0.19. This suggests demand at lower levels. The bulls are attempting to sustain the price above $0.21 on Sept. 22. If that happens, the DOGE/USDT pair could rise to the 20-day EMA ($0.24). The bears are likely to defend this level aggressively. If the price turns down from the 20-day EMA, the bears will make one more attempt to sink the price below the $0.21 to $0.19 support zone. If they manage to do that, the pair could drop to the critical support at $0.15. The bulls will have to push and sustain the price above the downtrend line to indicate that the correction could be over.

Coinbase’s e-commerce platform now offers a new way to spend Elon Musk’s favorite meme cryptocurrency. Coinbase Commerce, the e-commerce arm of the United States-based crypto exchange, has added support for Dogecoin (DOGE) payments. According to a Twitter announcement, Dogecoin became the seventh cryptocurrency for merchants to accept payments on Coinbase’s e-commerce portal. The platform currently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), along with stablecoins Dai and USD Coin (USDC). An integration with Coinbase.com enables Coinbase Commerce customers to convert their crypto payments into U.S. dollars, euros, British pounds or USDC without leaving the e-commerce portal. According to a blog post dated October 2020, the same integration for Coinbase Prime and Pro accounts will be available soon.

Dogecoin (DOGE) has added 35% in the last 24 hours after the announcement of the listing of the token on Coinbase Pro. Elon Musk also posted new tweets in support of the cryptocurrency. DOGE rallied above $ 0.44 for the first time in two weeks. The token shows the highest growth rates not only among the top ten, but in the first hundred cryptoassets. One of the world's leading cryptocurrency exchanges - American Coinbase - announced the listing of Dogecoin on its professional trading platform. The company invites clients to make deposits in anticipation of trading, which will start on June 3, provided there is sufficient liquidity. The new listing will help boost liquidity in the DOGE market. Many US traders bring fiat currency to the cryptocurrency market through Coinbase and tend to buy traded assets right away. On Coinbase Pro, Dogecoin will be paired with USD, Euro, Pound, Bitcoin and USDT. DOGE is not yet available on the Coinbase.com retail portal and mobile app. The exchange usually adds their support shortly after the start of trading.

The Dogecoin meme cryptocurrency turns out to be more recognizable than ethereum among US citizens, perhaps thanks to Elon Musk. This is evidenced by the results of a joint survey conducted by Harris Poll and CouponCabin. The study involved more than 2000 American adults, most of whom (89%) had heard of cryptocurrency at least once. It turned out that 71% of respondents know about bitcoin, 29% about Dogecoin and 21% about Ethereum. The USD Coin stablecoin has the same number, 21%. About 18% of survey participants said they are familiar with Litecoin, 10% have heard about the existence of Stellar. Digital assets as a get-rich-quick scheme are considered by 23%, and almost a third of respondents (31%) are confident that cryptocurrencies can become the future of money.

Dogecoin (DOGE) jumped 20% on Thursday after another tweet by Elon Musk mentioning the cryptocurrency. The seventh cryptocurrency showed the second best dynamics after Cardano in the top ten of the CoinGecko rankings. The cryptocurrency market was recovering on Wednesday after a sharp decline the day before. Bitcoin rose 4%, rising intraday above $ 42,000. However, the level that was previously support did not allow the rise to continue. Dogecoin rose 15% to $ 0.40, but jumped above $ 0.43 intraday. The Tesla founder tweeted a photo of a dollar bill showing the Dogecoin logo and the caption Cyberwiking.

Dogecoin rallied sharply on Friday, climbing above $ 0.50 again. The day before, the token dropped below $ 0.35. DOGE again took the fourth place in the ranking of cryptocurrencies in terms of capitalization, pushing aside XRP. DOGE rallied after one of the largest cryptocurrency exchanges, Coinbase, announced its upcoming cryptocurrency listing. Adding Dogecoin to the crypto exchange will take place in 6-8 weeks. Coinbase, which has been very selective about adding new cryptocurrencies in the past, intends to rethink its practices, including starting to add newly issued assets with no trading history.

The value of the Dogecoin cryptocurrency collapsed after the American entrepreneur Elon Musk mentioned it on the air of the comedy TV show Saturday Night Live (SNL) on NBC. During the five-minute opening speech, the head of Tesla and SpaceX joked a lot and touched on several topics at once. At the end of his monologue, which sounded on the eve of Mother's Day, which is celebrated in the United States on the second Sunday in May, the entrepreneur brought his mother on stage. "I can't wait for my gift. I hope it's not Dogecoin"? she turned to her son. "Actually, it is," Musk admitted. Dogecoin, which had previously reacted favorably to Musk's tweet mentions, plummeted afterwards in value. According to CoinDesk, within an hour after the start of the TV show, its value dropped from $0.66 to $0.50 apiece. In early April, the cryptocurrency surged after Musk promised to "literally send Dogecoin to the moon". In February, its value almost doubled after Musk, returning to Twitter after a short lull, spoke in praise of it. The wave of sales that swept the most meme cryptocurrency affected the rest of the altcoins.

Dogecoin rally sparks speculation about the arrival of alt season as Ether celebrates its eighth-straight day reaching a new high. The cryptocurrency market awoke to the sight of Dogecoin (DOGE) price surging to as high as $0.69 in the past two days, leading many to wonder if the recent performance of the world's most popular meme token is now the leading indicator for the arrival of alt season. Long-time crypto fans mark the fourth of May as a special day for the Bitcoin community as a whole for being the birthday of one of the earliest known supporters of the Bitcoin network Hal Finney, who would have celebrated turning 65. Data from Cointelegraph Markets and Tradingview shows that while the world's attention was focused on Dogecoin, Bitcoin (BTC) faced selling pressures, which began the night before and dropped the price of BTC back below the $55,000 support level by mid-day on Tuesday. While BTC continues to trade in the $50,000 to $60,000, or what some traders see as the "twilight zone," the price of Ether (ETH) again climbed to a new all-time high at $3,519 as institutional managers now hold a record $13.9 billion worth of the top altcoin and smart contract platform.

Dogecoin (DOGE) may grow by 50% amid renewed tweets by Elon Musk. The cryptocurrency jumped 30% on Wednesday, above $ 0.34, after the eccentric billionaire mentioned DOGE in an announcement for Saturday Night Live on May 8. Dogecoin may reach previous highs of $ 0.45 amid Musk's pumping, block-chain24 writes. There are also technical prerequisites for the movement. DOGE broke up from the symmetrical triangle on the 4-hour chart. The surge in trading volume confirms the "bullish" breakout, the target of which is shown by the "measured move" figure of the technical analysis at the height of the triangle.