Tuesday, March 21, 2023

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Can Value Of Dogecoin Continue To Increase ?

Dogecoin has dropped 3.9% in the last 24 hours, making its third correction in the acceleration it has captured in about 2 weeks. Traded at $0.123 at the time of writing, DOGE has given its investors more than 105% returns in the last two weeks. The main reason for this rise is strong speculation about Dogecoin being integrated into Twitter.

Dogecoin Uptrend Ends?

The momentum captured by Dogecoin has slowed for several days and perhaps the uptrend is nearing its end. The price, which crossed the $0.15 limit in the past days, but fell again without being permanent, is enough to make Dogecoin the 8th most valuable cryptocurrency and the 1st meme coin with a value of 16.8 billion dollars. Dogecoin, which has managed to follow meme coins, is one of the cryptos that has added value to its value in contrast to the market recently.

While the total cryptocurrency market cap is around $1.1 trillion, there is a 0.9% drop in the overall market.

The movements of the MACD lines and the decreasing expiration of the red candles indicate that the bullish pressure is nearing an expiration. Less volatile compared to the past few days, DOGE has broken out of the risky upper zone of the RSI and settled at 47 on the four-hour chart. DOGE is likely to continue trading between $0.122 and $0.129 in the short term. On the other hand, if the speculations come true and Twitter and Dogecoin are integrated, it is very likely that Dogecoin will start another strong rally.

The Doge community is patiently waiting to be integrated into Twitter for payments. Ever since Elon Musk announced that Twitter blue tick verification will require a monthly payment of $8, users have been waiting for Doge to be among these payment methods.

Twitter’s inclusion of Dogecoin among its payment methods means that investors can make significant returns and approach DOGE’s target of $1. Unless such an explanation comes, Doge will probably continue to follow the crypto money market in general.

Alternative Cryptos to Buy

If you want to buy a crypto currency that has a wider basis instead of meme coin, it is useful to take a look at the 3 quality pre-sales that are already going on.

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