Dogecoin DOGE/USD traded 0.8% lower over 24 hours at $0.065 in the early hours of Tuesday.
DOGE fell lower as major coins were mixed at press time and the global cryptocurrency market cap inched up 0.5% to $1 trillion.
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin||1.3%|
|24-hour against Ethereum||-0.35%|
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The DOGE Factors
- Dogecoin was not among the most-mentioned coins on Twitter at press time, according to Cointrendz
- The 24-hour trading volume for DOGE shot up 100.7% to $606.56 million, according to data from CoinMarketCap
- Coinglass data showed that $1.5 million worth of DOGE were liquidated over 24 hours as the price of the meme cryptocurrency declined
- DOGE’s relative strength index stood at 49.08. If an asset’s RSI is below 30 it is considered oversold, while above 70 it is considered overbought
Dogecoin Gains Overshadowed By Ethereum
Cryptocurrencies, including DOGE, rallied on Monday, but the upsurge was dominated by Ethereum ETH/USD — the second-largest coin by market cap. Last week’s deployment of Shadow Fork 9 built buzz around the coin’s move to the proof-of-stake model. Crypto winter could be over in two weeks if the apex coin continues to stabilize over the next two weeks, said OANDA Senior Market Analyst Edward Moya.
Is Twitter Hiding DOGE Tweets?
Dogecoin Foundation Director Timothy Stebbing called out Twitter for their “clumsy band-aid solution” to deal with crypto scams while sharing a post that the social media platform hides tweets that use words like “send doge,” “give doge,” and “offer doge.”
The Dogecoin community actively uses twitter to give to charities, raise funds for events, and tip artist & memers @TwitterSupport. Yes you need to deal with crypto spam but your clumsy band-aid solution needs some review as you’re getting a lot of false positives now. https://t.co/4tapZbVDGe
— Timothy Stebbing (@tjstebbing) July 19, 2022
Stebbing said that “The Dogecoin community actively uses Twitter to give to charities, raise funds for events, and tip artist [and] memers” and that Twitter is “getting a lot of false positives now.”
DOGE On The Web
Dogecoin co-creator Billy Markus touched on the recent cryptocurrency rally, which came after a massive downturn in cryptocurrency prices.
i forgot what not losing money every day felt like
— Shibetoshi Nakamoto (@BillyM2k) July 18, 2022