Dogecoin ‘Millionaire’ points to silver lining in dark clouds

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Dogecoin DOGE/USD fell 5.4% to $0.065 over 24 hours before the early hours of Friday.

DOGE fell along with other major coins as the global cryptocurrency market cap fell 4.1% to $859.3 billion at press time.










Dogecoin Price Performance
Time range % change (+/-)
24 hours -5.4%
24 hours against Bitcoin -2.8%
24 hours against Ethereum -6.9%
7 days 2.4%
30 days -25%

Cumulative performance since the beginning of the year

-62.7%

See also: How to get free NFTs

DOGE factors

  • DOGE was among the most mentioned coins on Twitter at press time, according to Cointrendz. Bitcoin, Ethereum and Solana were the three most mentioned coins. DOGE was seen trending on price-tracking website CoinMarketCap at press time
  • The 24-hour trading volume for DOGE fell 4.3% to $584.62 million at press time, according to CoinMarketCap.
  • Data from Coinglass indicated that $2 million worth of DOGE was liquidated in 24 hours as the price of the meme coin fell.
  • Dogecoin’s relative strength index was 45.21, according to TradingView. An RSI below 30 indicates oversold conditions, while above 70 it implies an asset is overbought

Cryptos Face Ugly Plunge

Thursday, OANDA Senior Market Analyst Edouard Moya said Bitcoin is vulnerable to another “ugly dip” and could fall towards the $10,000 mark. Chartist Ali Martinez said Ethereum could drop to levels of $600-$700.

More taxes for Indian shibes

Effective July 1, India will impose a 1% withholding tax on all cryptocurrency and Non-Fugible Token (NFT) transactions. The tax will apply to transactions over INR 10,000 ($126). Indian authorities have already imposed a 30% tax on profits derived from cryptocurrency trading.

Doge on the Web

Co-creator of Dogecoin Billy Marcus warned investors against funding other people’s unicorn success stories while extending his message to cryptocurrencies. He warned that “for every success, there are hundreds of failures”.

Dogecoin “millionaire” Glauber Contessoto noted that – incredible as it is – 52% of DOGE holders are in profit.

Read more : ‘Rich Dad Poor Dad’ author says inflation is ‘wrong’, has this solution for government



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