Dogechain (dc) Price Explodes 220%, Here’s Why

Dogechain (dc) Price Explodes 220%, Here’s Why – Dogecoin (DOGE) is based on the popular Internet meme “dog” and features a chihuahua in its logo. The open source digital currency was created by Billy Marks of Portland, Oregon and Jackson Palmer of Sydney, Australia, and was coined by Litecoin in December 2013. The creators of Dogecoin envisioned it as a fun and carefree cryptocurrency that would earn a lot of traction. The original Bitcoin viewer, because it was based on a canine meme Tesla CEO Elon Musk tweeted multiple times on social media that Dogecoin is his favorite currency. In this DOGECOIN analysis video, we discuss scalping and investing in the company We analyze 50 EMA (Exponential Moving Average), MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), bullish and bearish trends, technical analysis chart patterns and potential entry and exit points for traders and investors.

Disclaimer: I am not a financial advisor and my views reflect only my own and those of any other organization. The views presented in this video are for entertainment purposes only and do not constitute any financial advice, recommendation, suggestion, etc., even if shown. You (and you alone) are responsible for the financial decisions you make

Dogechain (dc) Price Explodes 220%, Here’s Why

Dogechain (dc) Price Explodes 220%, Here’s Why

English is not my first language, so forgive my mistakes And if you like this video, hit the Like button It helps me a lot! According to data provided by CoinMarketCap, Dogecoin (DC), Dogecoin’s parent token, has gone ballistic today, with its price rising more than 220% in the past 24 hours.

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One of the leading cryptocurrency trading platforms saw a huge price hike after announcing the listing of the Kucoinon token. Its users will be able to start trading on the DC / USDT pair from August 27 Furthermore, DC was listed today by MEXC Global

Dogechain (dc) Price Explodes 220%, Here’s Why

Dogecoin is expected to serve as a tier solution for the best Mem coins, non-fungible tokens, and various decentralized financial applications, giving Dogecoin users full compatibility with Ethereum-based smart contracts.

According to data provided by Defyflamether, Dogecoin-based projects worth $ 16.67 million have been halted, with Kibble Swap (KIB) and Fruits of Riocy (NONI) having the highest earnings in the past 24 hours.

Dogechain (dc) Price Explodes 220%, Here’s Why

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The Dogecoin team hopes to airdrop its native token to Dogecoin holders by the end of the year. Although details are scarce, according to its website, the project intends to issue “millions” of tokens.

Dogecoin’s huge price hike shows retail investors are pushing hard for the coin that could become another gem. After Dogecoin and Shiba Inu posted impressive returns last year, many branches have tried to take advantage of the dog coin craze.

Dogechain (dc) Price Explodes 220%, Here’s Why

Compiled by It is a news compilation and aggregation platform that aims to spread awareness and updates on Metaverse, Web 3.0 technologies, Blockchain, Cryptocurrency, NFT, AirDrop and more. Is the Bitcoin market at the top as traders have consistently failed to hit a breakout above $ 60,000? Probably not.

Coinbase The Ups & Downs Of The Pick & Shovel Crypto Exchange

According to Ki-Young Jo, CEO of Crypocant, a South Korea-based blockchain analytics firm, Bitcoin has every reason to break the bullish strike at $ 60,000. The analyst cites a reason behind his move on flagship cryptocurrency: the drop in bitcoin balances across all cryptocurrency exchanges.

Dogechain (dc) Price Explodes 220%, Here’s Why

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CryptoQuant tracks the number of Bitcoin exchanges on their publicly visible addresses. When traders deposit their BTC into an exchange wallet, the company understands that they are doing so to trade other crypto assets or cash them out outright.

Dogechain (dc) Price Explodes 220%, Here’s Why

Inflation, Interest Rates, And Instability

Conversely, when traders withdraw their BTC from an exchange, CryptoQuant claims it represents their willingness to hold the token.

Mr. Young examined the correlation between Bitcoin’s price spike and the number of Bitcoin flows on exchanges in January 2018. The BTC / USD exchange rate reached around $ 20,000 per month Its rally coincided with an increase in BTC flows All cryptocurrency exchanges were operational at that time.Subsequently, the pair fell below $ 3,100 in December 2018.

Dogechain (dc) Price Explodes 220%, Here’s Why

However, the reasons for April 2021 are completely different Instead of Bitcoin inflows, outflows from all exchanges are increasing This reflects the “HODL” mentality as the price of Bitcoin traded close to its previous high of $ 61,778 (data of Coinbase). The data shows that traders have yet to take their profits.

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“When the market peaks, everyone deposits BTC on the exchange to sell,” wrote Young. “# Inflow addresses across all exchanges peaked in January 2018, while a few days ago they hit a three-year low. People catch, don’t sell Why HODLing?

Dogechain (dc) Price Explodes 220%, Here’s Why

Data analytics firm Glassnode noted last month that the total number of BTC these days doesn’t exceed 4 million. It is declining every month, which could lead to a supply crisis until Bitcoin demand continues due to a lack of attractive investment options elsewhere.

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Dogechain (dc) Price Explodes 220%, Here’s Why

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After the third cryptocurrency halving last year – a phase event that halved BTC supply – institutions have bet heavily on it. This is because they fear a dramatic rise in inflation due to the Federal Reserve’s near-zero interest rate policy, their unlimited bond buying program (which keeps yields low) and the US government’s trillion dollar incentive package. .

Stock-to-flow creator #PlanB suggests that now is the time to continue building pressure on sales in the event of a steep downturn. It’s amazing how accurate the # S2F model is when pricing #Bitcoin Beware folks! – Whis Crypto (@WhisCrypto) April 7, 2021.

Dogechain (dc) Price Explodes 220%, Here’s Why

While most of the fundamentals are still intact, Bitcoin traders have decided to wait for a true institutional boom, especially after investments from Tesla, MicroStrategy, Square and PayPal, MasterCard, Visa, Morgan Stanley and Goldman Sachs, and offers supported by Bitcoin. Services for your customers

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Globetrotter Yashu Gola has been a financial / crypto market journalist since 2013. He is a computer science graduate, cryptography junkie, film buff and avid reader of Joan Erickson, Agatha Christie, JK Rowling and Isaac Asimov.

Dogechain (dc) Price Explodes 220%, Here’s Why

This site uses cookies By continuing to use this site you consent to the use of cookies Visit our Privacy Center or Cookie Policy Disclaimer: the opinion expressed here is not an investment advice, but is provided for information purposes only It does not necessarily represent a opinion Every investment and every trade involves risk, so always do your research before making a decision We do not recommend investing money that you cannot afford to lose

In response to the different ways of looking at progress, the creator of Dogecoin noted Bitcoin’s controversial price performance and asked if it could be considered progress. He later admitted it.

Dogechain (dc) Price Explodes 220%, Here’s Why

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In recent months, Bitcoin has lost much of its valley in the cryptocurrency market, causing panic among long- and medium-term investors who have noticed serious gains after the first cryptocurrency broke the $ 50,000 psychological resistance.

Apparently, the creator of the largest memecoin on the market was asking Bitcoin upfront considering its overall pro-crypto stance on Twitter. He later said that if something is greater than zero, it is already moving

Dogechain (dc) Price Explodes 220%, Here’s Why

Unfortunately, the first move in the market is not what investors want as the DOGE failed to break out of each of the local resistance levels on the chart and remains strong until the 50-day moving average.

Pdf) The Nft Hype: What Draws Attention To Non Fungible Tokens?

Fortunately, we can clearly see a flag pattern here, which, coupled with Dogecoin’s price performance over the past few months, indicates an impending spike in volatility that may be needed in a recovery rally.

Dogechain (dc) Price Explodes 220%, Here’s Why

Memecoins have the potential for a rally to the upside in the coming months as industry recovery sentiment will drive investors’ risk appetite and memecoins are the riskiest asset across the industry.

As of press time, Dogecoin is trading at $ 0.0695 and loses 0.1% of its trough, a modest trough considering the lack of volatility during the weekend trading session.

Dogechain (dc) Price Explodes 220%, Here’s Why

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Arman strongly believes that cryptocurrency and blockchain will be sustainable in the future. He currently focuses on news, in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

SHIB adds 114% trading volume after Vitalik Battery slammed censorship resistance SHIB: Dogechain’s main token has increased 220% in value in the past 24 hours, according to CryptoNews. , according to data provided by CoinMarketCap

Dogechain (dc) Price Explodes 220%, Here’s Why

The price hike comes after a major cryptocurrency trading platform announced the listing of KuCoin tokens. Its users will be able to start trading on the DC / USDT pair from August 27th In addition, DC was also listed by MEXC Global today

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Dogecoin is supposed to serve as a level 2 solution for the topmost meme coin, carrying non-fungible tokens.

Dogechain (dc) Price Explodes 220%, Here’s Why

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