Dogecoin (CRYPTO: DOGE) traded 0.7% higher at $0.07 in the early hours of Wednesday.
DOGE was seen trading higher alongside other major coins as the global cryptocurrency market cap rose 2.1% to $1.03 trillion.
| 24-hour | 0.7% |
| 24-hour against Bitcoin | -1% |
| 24-hour against Ethereum | -3.2% |
| 7-day | -22.5% |
| 30-day | 3.9% |
| YTD performance | -60.85% |
See Also: How To Get Free Crypto
The DOGE Factors
- Dogecoin was not among the most-mentioned coins on Twitter (NYSE:TWTR) at press time, according to Cointrendz.
- The 24-hour trading volume for DOGE declined 26.6% to $327.35 million at press time, according to CoinMarketCap.
- Coinglass data indicated that $422,020 worth of DOGE were liquidated over 24 hours as the price of the meme coin rose.
- DOGE’s relative strength index stood at 45.38 at press time, according to TradingView. An asset with RSI less than 30 is considered oversold. An asset with RSI above 70 is thought to be overbought.
Choppy Markets As All Eyes On Powell Cryptocurrencies were in the green even as other risk assets like stocks saw volatility on Tuesday evening. OANDA senior market analyst Edward Moya said that the “base case” for U.S. Federal Reserve’s Aug. 25 slated Jackson Hole Symposium “still leans towards the hawkish side.”
There is a chance that Chair Jerome Powell may sing a dovish tune, according to Moya. “Financial markets will remain in choppy waters until Fed Chair Powell’s Jackson hole speech,” the analyst said.
Dogecoin ‘Millionaire’s’ Bet Dogecoin ‘millionaire’ Glauber Contessoto said on Twitter on Tuesday that he would purchase $20,000 worth of Ethereum if the second-largest cryptocurrency dropped under $1,000 again.
I’m buying $20K worth of #Ethereum if it drops under $1,000 again— SlumDOGE Millionaire (@ProTheDoge) August 22, 2022
pic.twitter.com/z9u6dxnioD— Shibetoshi Nakamoto (@BillyM2k) August 24, 2022
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