Dogecoin (DOGE) traded at $0.08, down 1.4 percent in the 24 hours until the early hours of Wednesday morning. The global cryptocurrency market cap rose 0.8 percent to $1.3 trillion. According to Cointrendz data, DOGE was not among the most trending cryptocurrencies on Twitter at the time of writing.
Are there bullish signs in DOGE?
According to CoinMarketCap, 24-hour trading volume for DOGE fell 6.95 percent to $478.53 million at the time of writing. DOGE is changing hands at $0.077, down 5.65 percent at the time of writing, according to the data. The coin went up to a maximum of $0.08 during the day. OANDA Senior Market Analyst Edward Moya noted that although 10-year Treasuries fell to the lowest level since late April, the brilliance of cryptocurrency markets has not regained.
Moya said sentiment for risky assets has fallen off a cliff. “Normally falling Treasury yields make crypto attractive, but no one wants to buy it right now,” he said. On Tuesday, Benzinga’s Melanie Schaffer noted that DOGE’s chart is developing an uptrend, meaning a bounce is likely. According to Schaffer, if the bullish divergence corrects, DOGE can top higher and overcome the downtrend.
Dogecoin reiterated millionaire: I don’t sell
At the time of writing, DOGE’s relative strength index was at 34.39. The RSI has moved between 25 percent and 35 percent since May 11. An RSI below 30 indicates an asset is oversold. Dogecoin co-creator Billy Markus shared his views on the stock market Tuesday, a drop fueled by a document released by popular messaging platform operator Snap.
Dogecoin millionaire Glauber Contessoto Tuesday He reiterated that he did not sell the meme coins he had on the day. Contessoto explained that his “ideal rate” is 70 percent cryptocurrency and 30 percent speculation play. “I know I’m leaning a little more on features, but I love those,” she said. DOGE came to the fore with an increase of 7.3 percent in the last seven days.
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