Dogecoin (CRYPTO: DOGE) traded 0.75% higher at $0.08 over 24 hours leading up to early Wednesday morning.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 0.75% |
| 24-hour against Bitcoin | -2.2% |
| 24-hour against Ethereum | 0.9% |
| 7-day | -6.7% |
| 30-day | -33.9% |
|
YTD performance |
-53.7% |
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The DOGE Factors
- DOGE was not among the most mentioned coins on Twitter, according to Cointrendz.
- The 24-hour trading volume for DOGE fell 26.5% to $422.59 million, according to CoinMarketCap.
- Coinglass data indicated that $781,830 worth of DOGE was liquidated over 24 hours as the price of the meme coin rose.
- DOGE's relative strength index was at 38.84 at press time. RSI below 30 indicates oversold conditions while over 70 is an indication that the coin is overbought.
Crypto Breakup With Stocks Could Get Ugly
Even as major cryptocurrencies remain rangebound and keep their movement with stocks intact, there are indications that the mirroring of stocks and cryptos could end in the wake of sold earnings by businesses. The decoupling of Bitcoin and equities could lead to greater volatility over the short term and things could get ugly, according to Edward Moya, a senior market analyst with OANDA.
Binance, Robinhood The Big Whales
Dogecoin-oriented Twitter handle Mishaboar pointed out that Binance and Robinhood Markets Inc’s (NASDAQ:HOOD) holdings account for nearly 40% of the meme coin’s supply in custody.
Look at this new service by @WhaleGooBrr by @gte460z: now it is tracking also Binance's #Dogecoin holdings, alongside Robinhood's - using the known public wallets.
— Mishaboar (@mishaboar) June 7, 2022
Even counting only the known wallets, these two exchanges alone have nearly 40% of the supply in custody. https://t.co/WHlNMPRiaO
DOGE On The Web
Dogecoin co-creator Billy Markus finds a sequel to the 2019 film “Joker” quite “unnecessary.” Markus reacted to the announcement of the sequel on Twitter on Tuesday.
Other Dogecoin fans on Twitter are also taking a dig at the announcement of Joker 2 and Joaquin Phoenix reprising his villainous role.
Phoenix purchased DOGE at $0.66 to play the role of an insanely depressed man, according to a meme shared by the Twitter handle “KabosuNakamoto.”
dID YOU know? #joker Joker 2#dogecoin #dogearmy #DogecoinRise pic.twitter.com/ISBg9vCaDn
— The Wock (@KabosuNakamoto) May 28, 2021
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