Dogecoin Gains on Cardano as Market Cap Approaches $10.4 Billion
According to CoinGecko, Dogecoin's market cap is now almost equal to Cardano's at around $10.4 billion, with Dogecoin showing a 2.9% increase in the past 24 hours. Meanwhile, Ethereum remains steady at approximately $1,844, while Binance Coin and XRP have seen slight drops.
Bitcoin Drops Below Key Support Level, Other Top Coins Follow Suit
At the start of the week, sellers hold more power than buyers. Bitcoin has dropped by 2.66% in the past 24 hours and has broken the support level at $29,508. Ethereum's rate has only dropped by 1.47%, but is also testing a support level at $1,827. Cardano and Binance Coin are both experiencing declines, with Cardano's rate testing the $0.2996 support level and Binance Coin trading in a consolidation around $235. However, Dogecoin's rate has risen by over 4% and may experience a breakout if it closes around the resistance level at $0.07756.
Dogecoin Whales Accumulate as Musk's Twitter Rebranding Pushes DOGE to Green Indexes
Elon Musk's rebranding of Twitter to "X" has caused several crypto tokens to rally, including his favorite meme crypto, Dogecoin (DOGE). Despite a massive sell-off in the global digital asset market on Monday, DOGE performed a decoupling event and registered green indexes, surging by almost 5% in the last 24 hours.
Whales Transfer Over $531,000,000 in Bitcoin and Dogecoin
Large amounts of Bitcoin and Dogecoin worth $531.71 million have been transferred by crypto whales, according to blockchain-tracking bot Whale Alert. The largest transfer involved a crypto whale moving 14,159 BTC worth $421.71 million from an unknown wallet to another unknown wallet. Another Bitcoin whale shifted 1,890 BTC worth $56.54 million from an unknown wallet to US-based crypto exchange Coinbase. In the Dogecoin market, one entity moved 450,000,000 DOGE worth $32.93 million from an unknown wallet to Robinhood, while another investor shifted 85,000,000 DOGE worth $6.17 million from an unknown wallet to Binance.
Elon Musk Explains Why Dogecoin is His Favorite Cryptocurrency
Elon Musk, the CEO of Tesla, has been known for his support of Dogecoin, a meme cryptocurrency, and its impact on its value. During his appearance at the Wall Street Journal CEO Council Summit in Q2 2023, Musk explained that his love for Dogecoin goes beyond its capabilities in the crypto market and is more related to its humorous nature.
Dogecoin (DOGE) Price Bounces Back, Over 50% of Addresses in Profit
In the past six weeks, Dogecoin's price has recovered by 40%, making over 50% of all DOGE addresses profitable. Over the last seven days, active addresses rose by 22.3%, and new addresses increased by 53.28%. Despite a decrease in Telegram members, the total number of DOGE addresses has kept growing, averaging 4.71 million in the last 30 days. Retail investors hold approximately one-third of DOGE tokens, while large investors and whales each account for around 45%. Currently, almost 55% of Dogecoin addresses are in a profitable position.
Crypto Markets Experience Mild Bull Activity as Bitcoin Approaches $30K
The global market cap has seen a 0.5% increase, with Bitcoin experiencing some bull activity and approaching a break back above $30K. However, Bitcoin trade volume has dropped by 31% during the same period. Ethereum has started the week slow with low volatility levels, indicating a likely bearish trend as bears push for market dominance. Dogecoin is having a good session with gains of 1.4% and increasing trading volume, while Stellar is also trading positively with increasing volatility levels. Chainlink is making slight gains, while Augur sees an 8% drop within a day of trade.
Robinhood and Binance Purchase 732 Million Dogecoin
The creator of Dogecoin, Billy Markus, expressed surprise on Twitter about discovering a computer game called "Humanity" where players guide humans to ascension as a Shiba Inu doge. The game was created by PlayStation and caused a stir within the Shiba Inu community despite not being associated with either SHIB or DOGE. Markus is considering streaming himself playing the game. In other news, Robinhood and Binance were involved in consecutive transactions of nearly 800 million Dogecoin, with the largest transfer of 450 million coins worth $32.9 million going to Robinhood. Dogecoin remains a popular trading asset with a roughly 10% increase in trading volume over the past 24 hours.
DOGE Adds $1 Billion to Market Cap in a Day as Price Rockets Toward $0.80
Dogecoin experienced a significant price increase of over 10% on July 21, reaching $0.076 and adding $1 billion to its market cap. This surge propelled DOGE to become the sixth-best performing cryptocurrency on daily charts and the eighth largest asset by market worth. While the reason for this rally is unclear, some speculate that it may be related to rumors about Dogecoin's presence in the payment page source code on Tesla's website. However, it has been confirmed that Tesla did not recently add Dogecoin to its source code, but rather it was already present since January 2023.
Tesla Removes Bitcoin from Payment Page, Retains Dogecoin as Payment Option
Tesla has reportedly removed Bitcoin from the source code of its payment page, while Dogecoin remains as a payment option. This comes as a surprise to the crypto community, as Tesla's CEO Elon Musk has been a big supporter of Dogecoin. However, Tesla has not made an official announcement regarding this move. Despite this, Tesla's Bitcoin holdings remain unchanged in Q2 2023.
Elon Musk's Tweet Sends Dogecoin Up 4% in Minutes
Dogecoin, a popular cryptocurrency with a dog theme, experienced a 4% surge in price within minutes after Elon Musk mentioned it in a tweet. The price of DOGE reached a high of $0.72 from $0.69 on Wednesday morning, but then dropped slightly to just under $0.70.
Bitcoin Dips Below $30,000 After Reaching 13-Month High, Altcoins in the Red Except for DOGE, SHIB, and OP
Bitcoin reached a new 13-month high of almost $32,000 before being rejected and falling below $30,000. Most altcoins are also experiencing losses except for DOGE, SHIB, and OP. Ripple's native token, XRP, experienced significant gains after a judge ruled in favor of the blockchain company in its legal battle against the SEC, but has since retraced. The total crypto market is down by over $30 billion since yesterday.
Dogecoin's Holder Count Stagnates, Weighted Sentiment Rises as Circulation Drops
The number of Dogecoin holders has remained stagnant at around 4.89 million since May 27th, indicating a decline in investor interest. However, despite this, DOGE has seen a 13.44% increase in the last 30 days. On-chain data shows that the holder count has not negatively impacted the weighted sentiment, which has actually increased from -1.99 to -0.645, indicating a shift towards optimism. Development activity for Dogecoin has decreased and its circulation has fallen, suggesting slow upgrades on the network and a lack of recent transactions.
Dogecoin Founder Among Top Earners in Twitter's First Tranche of Ad Rewards
Twitter owner Elon Musk has started rewarding content creators on the platform, with $5 million paid out in the first tranche of ad rewards. Dogecoin creator Billy Markus was one of the top earners, receiving $37,050 and ranking as the second highest earner in the first block of payments.
Dogecoin's Breakout from Compact Price Range Imminent Amidst Selling Pressure and Lack of Demand in Futures Market
The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. DOGE has been trading within a compact price range for the past three weeks, but a range breakout seems likely with Bitcoin experiencing a price correction.
Interest In Dogecoin Remains Low Despite Surge In Price
Despite a 5% increase in price over the past week, social media discussions about Dogecoin remain low, according to data from Santiment. The "social dominance" indicator, which measures the percentage of discussions related to Dogecoin among the top 100 assets by market cap, has been relatively low in recent days, currently sitting at 1.4%.
Renowned Trader Kaleo Predicts Bullish Return for Dogecoin to $0.10
July 4 (Cointime) - Renowned trader Kaleo has predicted a bullish return for Dogecoin, the meme-inspired cryptocurrency, with a potential rise to $0.10. Despite being down around 90.38% from its all-time high in May 2021, Dogecoin is holding steady and currently trading at around $0.069974. The crypto's market cap is approximately $9.85 billion, with a 24-hour trading volume nearing $442 million.
Dogecoin (DOGE) Long-Term Holders Remain Resilient Amid Price Volatility
July 4 (Cointime) - Dogecoin's price climbed 13% in just five days before dropping below $0.069 again on Monday morning. However, on-chain data suggests that the rally may not be over yet, and long-term Dogecoin holders remain resilient. The mean coin age of DOGE has increased persistently for nearly a month, indicating that investors are holding their coins for much longer.
CoinMarketCap Ranking Shows Most Coins Returning to Bullish Trend
July 4 (Cointime) - Most major cryptocurrencies are experiencing a bullish trend, as reported by CoinMarketCap. Bitcoin has seen a slight increase in value, but remains in the middle of its trading channel. Ethereum has outperformed Bitcoin, with its value rising after breaking through the $1,927 level. XRP has not seen the same increase as other coins, and is expected to continue trading sideways for the foreseeable future.
Binance Pay now supports Dogecoin, XRP and other digital currencies for flight bookings with 3% discount
July 1 (Cointime) - Binance Pay has announced that users can now use Dogecoin, XRP, and other supported digital currencies to pay for flights with over 600 airlines worldwide through a collaboration with Alternative Airlines.
