Dogecoin Sheds Nearly 2%, Yet Analysts Upbeat DOGE Can Breach $0.0788
July 23 2022 - 10:35AM
NEWSBTC
Dogecoin (DOGE) price has retreated by 1.80% and is currently
trading at $0.068826 USD. CoinMarketCap has ranked DOGE as the 10th
largest coin in terms of market capitalization. Dogecoin has a
current market cap of $9,131,190,072 USD with a 24-hour trading
volume set at $494,541,797 USD. The well-known meme coin currently
has a total circulating supply of 132,670,764,300 DOGE coins.
Crypto analysts and experts are eyeing Dogecoin to breach the
$0.0788 zone. Suggested Reading | Solana (SOL) To Hit $166 By
2025, Despite Current Bearish Conditions Dogecoin Developers To
Launch New Update Dogecoin developers launched their recent update
that can help enhance the efficiency, performance, user interface,
and security of the meme coin. Dust limits have also been reduced
from 1 DOGE to 0.01 DOGE. The new update or fee mechanism in place
also aims to further decentralize the meme coin’s network. The new
update was launched on July 21, 2022, together with the upgrade or
release to the fee mechanism. The new update included several great
features and security fixes. Addnodes have also been restricted to
800 to steer clear of risks of memory congestion in the network.
Additionally, there are also a new minor version upgrades which
included vital security updates and also fixes and improvements to
beef up the efficiency and robustness of the network. More so, all
users of Dogecoin Core including wallet users, miners, and relay
operators are urged to upgrade. DOGE total market cap at $8.9
billion on the daily chart | Source: TradingView.com Dogeverse
Memes Keeping The Energy Up The Dogeverse have also been infused
with memes which also improved network activity. In effect, as much
as 80,000 transactions have been processed in the past 24 hours and
many investors have expressed their overwhelming interest and
excitement with the memes found in the network. Another exciting
product adding to the vibrancy of the Dogecoin meme economy is the
MyDoge wallet, which is a DOGE wallet that allows fans to send DOGE
tips to meme creators. Suggested Reading | Cardano (ADA),
After 35% Spike, Locks On Next Target: $0.55 Analysts are confident
that DOGE is ready to breach the $0.078 level. All signals are
waiting for this to happen anytime soon. Now, in worst case
scenario or if in case DOGE fails to break through the $0.078 zone,
the meme coin is set to plunge in price by as much as 60% which is
a huge painful drop. DOGE insights have been increasing steadily
for the past three months following its biggest decline seen in
December 2021. DOGE’s MDIA value has also plunged by more than
21.6% in just three days.
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