Dogecoin DOGE/USD traded 5% higher at $0.07 over 24 hours leading up to the early hours of Tuesday.
DOGE rose along with other major coins as the global cryptocurrency market cap increased 6.15% to $917.6 billion.
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin||-1.4%|
|24-hour against Ethereum||5.1%|
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The DOGE Factors
- DOGE was not among the most mentioned coins on Twitter at press time, according to Cointrendz.
- The 24-hour DOGE trading volume rose 22.8% to $362.4 million, according to data from CoinMarketCap,
- Coinglass figures indicate that nearly $1 million worth of DOGE were liquidated over 24 hours as the meme coin spiked.
- Dogecoin’s relative strength index stood at 49.68 at press time. An RSI of less than 30 implies that an asset is oversold while over 70 the asset is considered overbought.
A Summer Rally On The Cards?
DOGE, along with other major coins, soared as the Fourth of July weekend drew to a close. Despite fear dominating investor sentiment amid a cycle of negative news, analysts said the apex coin could rally if it closed above the $20,000 level. “Flipping $20K and we’ll be good to go towards $23K and the summer relief rally. Finally,” said cryptocurrency trader Michaël van de Poppe.
Happy Fourth of July
Dogecoin co-creator Billy Markus tweeted his greetings for the Fourth of July to his 1.6 million followers.
— Shibetoshi Nakamoto (@BillyM2k) July 4, 2022
Tesla Inc TSLA CEO and DOGE-bull Elon Musk also greeted Twitter followers on the occasion of U.S. Independence Day.
Happy July 4th! pic.twitter.com/KYN2XO712Z
— Elon Musk (@elonmusk) July 4, 2022
DOGE On The Web
Dogecoin Foundation Director Timothy Stebbing asked his followers on Twitter about project ideas connected to a DOGE hackathon. He asked what would be good projects in case the event was sponsored by a “big company” on a “no strings attached” basis.
If some big company wanted to sponsor a hackathon for dogecoin, no strings attached, what kind of things would be good projects to work on? What would encourage new devs to get their feet wet?
— Timothy Stebbing (@tjstebbing) July 4, 2022
At press time, the poll had only attracted 147 votes and “Ecosystem Ideas” had garnered 47.3% of the votes cast with 47 minutes left for the poll to close. “Silly/Fun stuff” was the runner-up at 34.8%, while “Bugs and core fixes” came in third at 14.7%.