DOGE Daily: Price Rises With All Eyes On Fed, 'Dogecoin Millionaire' Says He's Ready To Bet On This Mega Crypto If It Nosedives


Dogecoin DOGE/USD traded 0.7% higher at $0.07 in the early hours of Wednesday. 

DOGE was seen trading higher alongside other major coins as the global cryptocurrency market cap rose 2.1% to $1.03 trillion.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour 0.7%
24-hour against Bitcoin -1%
24-hour against Ethereum -3.2%
7-day -22.5%
30-day 3.9%

YTD performance


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The DOGE Factors

  • Dogecoin was not among the most-mentioned coins on Twitter at press time, according to Cointrendz.
  • The 24-hour trading volume for DOGE declined 26.6% to $327.35 million at press time, according to CoinMarketCap.
  • Coinglass data indicated that $422,020 worth of DOGE were liquidated over 24 hours as the price of the meme coin rose.
  • DOGE’s relative strength index stood at 45.38 at press time, according to TradingView. An asset with RSI less than 30 is considered oversold. An asset with RSI above 70 is thought to be overbought.

Choppy Markets As All Eyes On Powell

Cryptocurrencies were in the green even as other risk assets like stocks saw volatility on Tuesday evening. OANDA senior market analyst Edward Moya said that the “base case” for U.S. Federal Reserve’s Aug. 25 slated Jackson Hole Symposium “still leans towards the hawkish side.” 

There is a chance that Chair Jerome Powell may sing a dovish tune, according to Moya. “Financial markets will remain in choppy waters until Fed Chair Powell’s Jackson hole speech,” the analyst said. 

Dogecoin ‘Millionaire’s’ Bet

Dogecoin ‘millionaire’ Glauber Contessoto said on Twitter on Tuesday that he would purchase $20,000 worth of Ethereum if the second-largest cryptocurrency dropped under $1,000 again.

DOGE On The Web

Dogecoin co-creator Billy Markus shared images featuring Ethereum’s co-creator Vitalik Buterin on Twitter. The photos were put through “FaceApp” with one of Markus’ tweets carrying the text “Vitalia Buterin.”

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