Dogecoin Gearing To Bounce Back Against Bitcoin

Dogecoin Gearing To Bounce Back Against Bitcoin – Does Doge Have The Energy?

A popular crypto trader, Bluntz, forecasted a significant price rally for Dogecoin against Bitcoin today. Bluntz tweeted to his followers that the DOGE/BTC trading pair is “gearing for a revenge pump for probably 100% or more.”

Based on his chart analysis, Bluntz identified that Doge had formed a bullish pattern that may surprise the crypto community. Bluntz seems convinced that Doge will continue to surge its price, thus cautioning that investors would be careless for missing out on this potential opportunity.

Bluntz’s sentiment appears to be backed by other crypto market analysts who are also confident that Doge is destined for massive growth.

Bluntz also disclosed that the Dogecoin/USD trading pair has finally broken out of a consolidation channel, indicating that Doge is “loading and set to lead the altcoin season.” He said it is just a matter before the meme crypto witnesses a huge price uptick.

Does Dogecoin Have More Potential Than Bitcoin?

For investors seeking to invest in cryptocurrencies, Dogecoin is one of the major altcoins that can prove to be a better investment choice.

Dogecoin is currently the ninth-largest cryptocurrency. However, Dogecoin seems a good option for investors willing to take on a little risk.

Doge’s price appears relatively much less volatile than BTC’s price. As a result, its price’s relative stability makes many investors consider it a more suitable currency for daily transactions than BTC.

Despite some of the selling points that Dogecoin has over Bitcoin, BTC still has significant advantages over the Shiba Inu-themed crypto.

BTC’s value is significantly higher than Doge’s. Bitcoin’s all-time high is over $69,000, while Dogecoin is around $0.70. The price difference shows why millions of people invest in Bitcoin because they deem it a reliable long-term value store.

In the public eye, high-net-worth investors are less confident in investing huge amounts of funds in Dogecoin. Instead, institutional investors prefer Bitcoin as their investment choice. In that sense, Doge is likely to lag behind Bitcoin.

Doge Price Analysis

At the time of writing, Dogecoin is trading its price at $0.09, up 7.39%, with a trading volume of $1.3 million in the last 24 hours, as per Coinmarketcap.

So far, the Dogecoin trading chart shows ranging vector candles to the upside, indicating that the crypto asset is currently bullish. Furthermore, the movement seems to be targeting a closer higher high, which could result in a further price surge. The buyers appear to be taking control and pushing the price above.

If Doge maintains its bullish trend, then in the next few days, it will likely soar toward the resistance level of $0.1507. But if the coin sees a price correction, it will retreat to $0.07.

from NewsBTC https://ift.tt/1QSUcrI
via IFTTT

Comments

DeFi isn’t dead, it just needs to fix these 3 critical problems

It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges decentralized finance face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let's take a look at what experts say DeFi needs to do in order to have another revival. Improved usability To date, the promise of open and uncensored access to a global decentralized financial system has been largely hampered by the complicated interface, confusing multi-step staking processes and lack of clarity surrounding the yields on various tokens. What do you thi...

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community. Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

National Futures Association adds rules for members handling digital assets

The CFTC-linked self-regulatory organization (SRO) has disclosure rules for members engaging in activities with BTC and ETH; now, standards of conduct are being added. The National Futures Association (NFA), the United States self-regulatory organization for derivatives markets, has issued a new compliance rule addressing members’ conduct. The new rule complements requirements issued in 2018. The NFA has “well over 100” members that engage in activities with digital asset commodities, but no way to address fraud or misconduct committed by those members, the organization explained to secretary of the Commodity Futures Trading Commission (CFTC) Christopher Kirkpatrick in a Feb. 28 letter as it submitted the proposed new rule for approval. The new rule is modelled on the NFA’s antifraud rules for exchange traded futures and swaps transaction and retail foreign exchange. The NFA is the only registered self-regulatory organization that has delegated authority from the CFTC, giving it a...

Crypto Coin Search

Search This Blog