Data shows that Dogecoin futures liquidations have been the highest in the sector during the past day as the coin has continued its upward push.

Dogecoin Liquidations Spike, Majority Are Short Contracts

The last few days have been great for DOGE holders as the memecoin has finally showed some promising potential toward the upside, after what had been a rather extended period of stagnation.

During this latest surge, some interesting positive signs have appeared for the asset, with perhaps the most significant of them being the cryptic hints related to possible Dogecoin integration on Twitter that Elon Musk has provided recently.

#Dogecoin has been one of the best performers in the market recently, and the cryptocurrency’s momentum may not be fading just yet, as its trading volume has also registered a spike toward 16 week highs recently, implying that investors at large currently have an active interest in the memecoin.

DOGE has naturally continued to show volatility in the past day as well, as it’s currently up north of 2% in the period. Generally, with volatility comes chaos on the futures market, as high leveraged positions dip into losses so deep that their platforms are forced to close the contracts down, or to “liquidate” them.

The above data shows the USD value of liquidations during the past 24 hours for each of the symbols in the cryptocurrency futures market. It would appear that Dogecoin liquidations have been the highest in the sector at about $7.19 million, ahead of Bitcoin’s $5.91 million.

As the memecoin has observed a net increase in the past day, the majority of the liquidations have involved the short contract holders. In total, $4.24 million such contracts have been flushed down the drain.

The reason the top players such as Bitcoin and Ethereum have observed relatively low liquidations (in the context of their sizes) has been the fact that their prices have been unusually stale recently.

These high liquidations are a result of speculators concentrating on the market after being attracted by the sharp price surge. In rallies like these, many such users might get too swayed in the hype and opt for extreme amounts of leverage, but while leverage can potentially multiply their profits by many factors, it’s also true that it can significantly raise the risk of liquidation. #GOATMoments #Binanceturns6 #dogearmy

Move over, traditional investments! There's a new dog in town, and it's making the crypto world bark with laughter.

Meet Shiba Inu Coin 🐕‍🦺, the four-legged sensation that has taken the internet 🌍 by storm.

Inspired by the adorable Shiba Inu dog breed and fueled by a community of meme-loving enthusiasts 💛, this crypto token has captured the hearts and wallets of many.

In this content, we'll take a lighthearted look at the phenomenon that is Shiba Inu Coin 🐕‍🦺, with a sprinkle of doggone hilarious jokes along the way.

The Bark-tastic Rise of Shiba Inu Coin:

They say every dog 🐶 has its day, and Shiba Inu Coin proves just that! Starting as a meme-inspired token, it quickly⚡became a global sensation.

With its cute logo and a community 🫂 full of dog lovers, Shiba Inu Coin has gained massive popularity, showing that the power of memes can truly move markets.

Just remember, investing in Shiba Inu Coin is not for the faint-hearted—it's a wild ride that'll have you howling with excitement and anticipation.

Shiba Inu Coin: The Dogecoin's Mischievous Sibling:

You might be wondering, "Is Shiba Inu Coin related to Dogecoin?" Well, in a way, they're like mischievous siblings.

Shiba Inu Coin took inspiration from Dogecoin, the OG meme coin, and carved its own path 🐾.

It has its own unique personality and has gained a massive following.

So, if Dogecoin is the fun-loving big brother, Shiba Inu Coin is the energetic🔋and playful little pup in the crypto family.

Doggone Jokes and Pawsome Memes:

Enough with the serious talk 🔉, let's unleash the laughter! Here are a couple of paw-sitively hilarious jokes to tickle your funny bone 🦴:

Why did the Shiba Inu join the crypto world? It heard there were "pawsome" gains and plenty of "bone-us" opportunities!

What's a Shiba Inu's favorite cryptocurrency? Doge-coin? Nope! It's Shiba Inu Coin, of course! Woof-tastic!

⚠️Remember, these jokes are all in good fun. Shiba Inu Coin may bring laughter, but always do your research and invest responsibly.

Riding the Waves of Shiba-mania:

Shiba Inu Coin's popularity has led to some wild price swings and an ever-changing market landscape.

It's like being on a rollercoaster ride with a Shiba Inu by your side, experiencing the highs and lows together.

But hey, sometimes the most thrilling adventures are the ones that keep you guessing.

Just hold onto your seat💺, embrace the excitement, and enjoy the Shiba-mania!

Conclusion:

In the realm of cryptocurrencies, Shiba Inu Coin stands out with its unique blend of cuteness 😍, community, and meme culture.

It has brought laughter, amusement, and a sense of community to the crypto world.

Just remember to approach it with a sense of humor, do your due diligence, and only invest what you can afford to lose.

Stay doggedly optimistic, my friends, and enjoy the ride of Shiba Inu Coin with a smile on your face! 🐕😄

#BinanceTournament #googleai #shibaInu #dogecoin #dogearmy

Learn about Dogecoin's journey from a meme to a viable crypto, its price volatility influenced by its passionate community, and its reportedly upward future.

Key Points

Dogecoin, initially a playful meme coin, has evolved into a viable cryptocurrency with an engaged community and mainstream recognition.

Influential figures like Elon Musk and community-driven initiatives significantly influence Dogecoin's market performance and price volatility.

While predictions suggest a promising future for Dogecoin over the next few years.

Originally designed as a whimsical counterpart to Bitcoin, Dogecoin's metamorphosis from a meme-inspired novelty to a recognized digital asset is truly extraordinary. This article traces Dogecoin's price history and future prospects, providing valuable insights for those monitoring this coin's trajectory or contemplating an entry into the Dogecoin market.

What Is Dogecoin? 

Originating as a meme coin in 2013, Dogecoin was designed to be a fun, light-hearted cryptocurrency. Yet, it evolved into a mainstream digital currency, primarily due to its engaged community and unlimited supply, contrasting with Bitcoin's capped supply.

Will Twitter X Impact the DOGE Price?

Recently, Dogecoin made headlines when it rallied by 10% amid speculation around Twitter's rebranding to "X". This surge, mostly attributed to trades on the South Korean exchange UpBit, illustrated Dogecoin's sensitivity to market events and celebrity endorsements. The tech mogul Elon Musk, owner of Twitter, has a history of influencing Dogecoin's value with his social media remarks, and the rumour of Dogecoin becoming a payment method on "X" fueled this recent price bump.

Key Events in Dogecoin History

The history of Dogecoin starts in December 2013, when it was launched by Billy Markus and Jackson Palmer as a fun, less serious alternative to Bitcoin. Originating as a playful meme coin featuring the adorable Shiba Inu dog as its emblem, this cryptocurrency swiftly caught the attention of a substantial following. Gradually, Dogecoin evolved from a lighthearted venture into a significant contender within the cryptocurrency realm, proving that a jesting digital asset could attain genuine value and practical utility in the real world.

The Impact of Elon Musk Tweets on Dogecoin

Perhaps one of the most significant turning points in Dogecoin's history was when billionaire Elon Musk took a keen interest in the coin. Musk's tweets about Dogecoin have consistently resulted in significant price movements, underscoring his considerable influence over its market performance. One of the key instances was when Tesla, Musk's electric car company, began accepting DOGE payments for merchandise purchases. This not only validated Dogecoin as a viable digital currency but also contributed to its price surge. Musk's recent hint at the potential for Dogecoin to be used as a payment option for Twitter's premium service, Twitter Blue, also created significant speculation and excitement among investors.

DOGE Community-led Initiatives and Price Surges

Dogecoin's community has played a critical role in its history, pushing for its wider acceptance and creating significant price surges through coordinated buying efforts. One of the most notable events was the Reddit-driven price surge in early 2021. Following a trend set by the GameStop stock frenzy, Reddit users turned their attention to cryptocurrencies, particularly Dogecoin. Their concerted effort led to a massive price spike, pushing Dogecoin to previously unseen heights. This event not only highlighted the power of social media in driving crypto trends but also solidified Dogecoin's position as a popular and widely recognized digital currency.

Dogecoin Price History

Will Dogecoin go back up? can be partially addressed by examining its price history. Dogecoin's price trends have been anything but predictable, featuring sharp rises and precipitous falls. High-profile endorsements, social media trends, and market speculation have all played key roles in this volatility.

Dogecoin Price Predictions

Dogecoin price prediction forecasts growth over the next few years. 

Will Dogecoin go back up? According to Changelly's predictions, Dogecoin's future seems promising, albeit volatile. By the conclusion of 2023, the platform envisions Dogecoin's trading to reach at least $0.09, with an anticipated average price of $0.12. Looking ahead to 2025, the trajectory indicates a potential rise that could result in the coin's value averaging at $0.25. The overall outlook for the long term remains quite optimistic, with possibilities of Dogecoin surpassing its previous peak of $0.7378 by 2029 and being traded at an average price of $0.79992 in 2030.

Extensive forecasts for each month in 2027 and 2028 project positive growth trends for Dogecoin, envisioning the minimum price to possibly reach $0.61 by 2028. The maximum price is anticipated to soar to $0.74, while the average trading cost is foreseen to hover around $0.63 during the said period.

DOGE Predictions and the Factors Influencing Them

These predictions are rooted in Dogecoin's recent performance, its increased recognition, and the possibility of further acceptance in mainstream commerce, as fueled by speculations around Elon Musk's businesses and stakeholdings. The projected ROI of 515.7% by 2027 and 772.2% by 2028 is alluring, but it’s crucial to remember the inherent volatility of the crypto market.

The Potential Role of Elon Musk and Future Events in Dogecoin's Recovery

As past events have demonstrated, Elon Musk's endorsements play a significant role in Dogecoin's market performance. His businesses adopting Dogecoin as a payment method could positively impact the coin's value, as would further integration of DOGE into prominent platforms like Twitter. However, it's equally important to recognize that such potential developments are speculative and their actualization uncertain.

Will Dogecoin Go Back Up?

Factors such as potential endorsement by influential figures like Elon Musk, increased mainstream acceptance, and the robustness of the Dogecoin community are promising signs. The forecasts suggest a positive trajectory for Dogecoin, indicating that recovery could be on the horizon. However, given the highly speculative nature of these developments, caution is advised.

#DogeCoin #dogearmy

The Dogecoin (DOGE) price has fallen over the past 190 days and is at risk of a long-term breakdown

The RSI readings in multiple time frames support the continuing of the decrease

A significant bounce at the current support line will invalidate this bearish forecast

The Dogecoin (DOGE) price is at risk of breaking down from a support line that has been in place for nearly a year. If this occurs, it could cause a sharp plunge.

The Relative Strength Index (RSI) readings from multiple time frames suggest that this breakdown is likely to occur. However, can DOGE go against the odds and initiate a bullish reversal?

Dogecoin Price Uncertainty Reigns Supreme

The technical analysis from the long-term weekly time frame does not provide clear signs as to what the Dogecoin future price trend is. 

On the bullish side, the price broke out from a descending resistance line (dashed) that had been in place since the all-time high. Breakouts from such long-term structures usually lead to significant increases.

This was the case initially since the DOGE price increased by 170% the week of the breakout, leading to a high of $0.159. However, the price has moved downwards in the 190 days since.

Now, the DOGE price is at risk of breaking down from an ascending support line that has been in place since June 2022.

This is the fourth time that the meme coin reached this support line. Since lines get weaker each time they are touched, an eventual breakdown from the line could occur.

DOGE/USDT Weekly Chart. Source: TradingView

The weekly RSI provides a bearish reading. By using the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.

If the RSI reading is above 50 and the trend is upward, bulls have an advantage, but if the reading is below 50, the opposite is true. The RSI is below 50 (red icon) and moving downwards, indicating that the trend is bearish.

DOGE Price Prediction: Breakdown a Matter of Time?

The daily time frame readings support the bearish DOGE price prediction from the weekly one.

The first reason for this comes from the wave count. Technical analysts employ the Elliott Wave theory as a means to identify recurring long-term price patterns and investor psychology, which helps them determine the direction of a trend.

The movement between March and April 10 resembles an A-B-C corrective structure (white). Since the correction has an upward slope, this means that the dominant trend is bearish.

The second reason comes from the RSI. In a similar fashion to the weekly time frame, the RSI is below 50 and falling (red icon). As outlined previously, this is a sign of a bearish trend. Moreover, the DOGE price attempted an unsuccessful bounce during the past 24 hours.

DOGE/USDT Six-Hour Chart. Source: TradingView

If a breakdown from the line occurs, the price could fall to the closest support area at an average price of $0.057.

However, an upward movement toward $0.095 could occur if a bounce occurs instead.

source: beincrypto

image source: unsplash

#DOGE #dogecoin #dogearmy #Meme #dyor

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

With its humorous origins, Dogecoin is surpassing Cardano in terms of market value, claiming the leadership in the crypto world. Investors are competing to own Dogecoin, hoping for its increased prominence on Twitter. On July 24th, Twitter was rebranded as the "everything app" X. Dogecoin's rise is further accelerated by Elon Musk's mysterious tweets and potential integrations, but Musk's fondness for Dogecoin also sparks controversies and speculations.

Dogecoin Takes the Lead:

Despite its comical roots, Dogecoin has overtaken Cardano in terms of market value, making it the leader in the crypto world. It is currently among the top 10 performing cryptocurrencies, experiencing a 2.5% increase in the last 24 hours, trading at $0.0789. Moreover, it outperformed other cryptocurrencies with a 13.8% value gain in the past week. #memecoins

The Relationship Between Twitter and Dogecoin:

Twitter has played a significant role in Dogecoin's rise. On July 24th, Twitter was rebranded as the "everything app" X, and this move contributed to the surge of Dogecoin, along with Elon Musk's influence on the platform. #twitter

Elon Musk's Interaction with Dogecoin:

Elon Musk, the owner of Twitter, greatly contributes to the rise of Dogecoin through his mysterious tweets and posts related to the cryptocurrency. Musk used a logo that was originally shared by a Dogecoin designer as Twitter's new logo. He also added the Dogecoin transaction icon to the location field in his Twitter bio.

The Potential of Dogecoin:

Musk's fondness for Dogecoin ignites speculations about the cryptocurrency's future potential. In April of last year, Musk hinted at the possibility of using Dogecoin as a payment mechanism for premium features on the subscription service called Twitter Blue. Tesla already accepts DOGE payments for product purchases, and Musk suggested the potential use of Dogecoin for other companies like SpaceX and Starlink as well. $DOGE #ElonMusk

Controversies and Speculations:

Elon Musk's affection for Dogecoin has also attracted some negative attention. In June of the previous year, a group of disgruntled Dogecoin investors filed a $258 billion class-action lawsuit against Musk, Tesla, and SpaceX, accusing Musk of manipulating Dogecoin's price. Musk's lawyers dismissed the lawsuit as a "fantasy" and requested its dismissal by a U.S. judge. #dogearmy

In Summary:

Thanks to the factors of Dogecoin, Twitter, and Elon Musk, Dogecoin has taken the lead in the crypto world. Musk's interest in Dogecoin and the potential for payment infrastructure integration enhance the cryptocurrency's future prospects. However, controversies and speculations persist. The development of Dogecoin's future and its role in the crypto market will become clearer over time. #dogecoin