Dogecoin (CRYPTO: DOGE) traded 3.1% higher at $0.06 over 24 hours leading up to early Friday morning.
DOGE was seen trading higher along with other major coins as the global cryptocurrency market cap rose 4% to $927 billion.
| 24-hour | 3.1% |
| 24-hour against Bitcoin | -0.4% |
| 24-hour against Ethereum | 3.05% |
| 7-day | -11.3% |
| 30-day | 18.5% |
| YTD performance | -63.9% |
See Also: Best Crypto Debit Cards
The DOGE Factors
- DOGE was not among the most-mentioned coins on Twitter (NYSE:TWTR) at press time, according to Cointrendz
- The 24-hour trading volume for DOGE fell 18.3% to $358.64 million, according to CoinMarketCap
- Coinglass data indicated that $637,540 worth of DOGE was liquidated over 24 hours as the price of the meme cryptocurrency increased
- DOGE’s relative strength index was 42.68 at press time. An asset with an RSI of below 30 is considered to be oversold, while one with RSI over 70 is said to be overbought
Weak Dollar Could Help Cryptos The U.S. dollar has continued to get firm amid rising expectations of an upcoming rate hike. However, should the dollar weaken, as indicated by the dollar index, it could help fuel a relief rally for cryptocurrencies, according to Justin Bennett, a currency trader.
DOGE Remains Steadfast, Unwavering Dogecoin Foundation Director Timothy Stebbing tweeted Friday that while Bitcoin “deviated” from the decentralized currency mission to “chase short term gains” DOGE has “been making steady progress towards the original goal.”
BTC deviated from the decentralized currency mission to chase short term gains . Meanwhile doge has been making steady progress towards the original goal . Asop predicts the outcome, stay on target folks https://t.co/vTPMSt4O2BDoge On The Web Dogecoin co-creator Billy Markus posted a meme centered around a “dip” in home prices on Thursday.— Timothy Stebbing (@tjstebbing) July 15, 2022
home prices dipped 0.1% last month pic.twitter.com/9ULQ087zH4"Dogecoin millionaire” Glauber Contessoto is bullish, amid the bear market, on what he called “blue chip crypto.” He said his bullishness extends to Bitcoin, Ethereum, Dogecoin and Cardano.— Shibetoshi Nakamoto (@BillyM2k) July 14, 2022
Pretty simple analysis of blue chip crypto when it comes to bear markets:Read Next: Ethereum Shadow Fork 9 Goes Live: What You Need To Knowupside outweighs the downside
this includes but is not limited to: #bitcoin #ethereum #dogecoin#cardano
— SlumDOGE Millionaire (@ProTheDoge) July 15, 2022
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.