Dogecoin Financial News

Bitcoin (BTC) easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around.

The crypto community on X (formerly Twitter) has been thrown into a series of guessing games by a couple of cryptic posts.

The price of Shiba Inu (SHIB) has dropped by 2% today, falling to $0.00000742 as the wider market slips by 1% in the past 24 hours.

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TLDR

Bitcoin (BTC) rose above $30,000 on Oct. 20, indicating that the path of least resistance is to the upside. Grayscale Investments filing a new application with the United States Securities and Exchanges Commission for a new spot Bitcoin ETF may have acted as a bullish trigger.

FTX cryptocurrency empire, another reckoning for digital currencies is underway: Governments around the world are intensifying their crackdown on sources of funding for terrorist groups — including crypto — after Hamas’s bloody attack in Israel that claimed more than 1,400 lives and led to retaliatory attacks that have killed thousands. Crypto is a small but deadly slice of overall terrorism funding: Research by analytics firm Elliptic in 2021 estimated that wallets linked to Hamas’ military wing had received more than $7.3 million in crypto, including around $40,000 in Dogecoin, the dog-themed memecoin favored by Elon Musk. These sums aren’t much compared with the $100 million that Iran sends annually to Hamas and other Palestinian terror groups or with Qatar’s $360 million in aid for Gaza, or the approximately $300 million Hamas gets via business taxation and extortion estimated by the Washington Institute’s Matthew Levitt.

The global cryptocurrency market cap declined 1.28% to around $1.08 trillion in the last 24 hours. Other popular altcoins, including the likes of Polygon, Dogecoin, Ripple (XRP), and Solana plunged up to 1-2%. Toncoin, Litecoin, and Shiba Inu declined up to 2-4% Bitcoin has been trading above the $28,200 level in the last 24 hours. This price movement follows asset manager Fidelity filing an amendment to its proposed spot bitcoin ETF with the U.S. SEC, specifying how it will safeguard customers’ bitcoin in custody accounts and disclose risks, said Edul Patel, CEO of Mudrex.

Toncoin and Tron were trading in the green, while Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. The global cryptocurrency market cap surged 0.76% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.1% at $28,586 as of 12:39 p.m., while Ethereum was below the $1,600 level. «Bitcoin has maintained a trading position above the $28,300 mark in the last 24 hours. This price movement is driven by growing excitement among investors about the potential approval of a Bitcoin Spot ETF in the United States,» said Edul Patel, CEO of Mudrex. «BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Every so often, a new player emerges in the crypto market claiming to redefine the landscape. We've seen Dogecoin (DOGE) and Pepe (PEPE) take the meme coin culture to stratospheric heights. In this dynamic milieu, discerning the top altcoins from a fleeting spectacle becomes an exhilarating yet daunting task for both novices and seasoned traders. 

The price of Cardano (ADA) has fallen by 1.5% in the past 24 hours, with its drop to $0.246034 coming on a day when the wider market remains largely flat.

XRP, Cardano, Dogecoin, Toncoin and Polkadot were trading in the red. Meanwhile, the global cryptocurrency market cap surged 0.64% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.44% at $28,251 as of 12:35 p.m., while Ethereum was just below the $1,600 level. «Bitcoin’s price touched the $30,000 mark before settling at the $28,000 level following false news published on X (formerly Twitter) about the SEC approving Blackrock’s spot ETF application. The news caused more than $100 million in liquidations,» said Edul Patel, CEO of Mudrex.

Toncoin and Tron were trading in the green, while Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. The global cryptocurrency market cap surged 0.76% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.1% at $28,586 as of 12:39 p.m., while Ethereum was below the $1,600 level. «Bitcoin has maintained a trading position above the $28,300 mark in the last 24 hours. This price movement is driven by growing excitement among investors about the potential approval of a Bitcoin Spot ETF in the United States,» said Edul Patel, CEO of Mudrex. «BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it.

The Dogecoin price has held to $0.060052 today, marking a 0% move in 24 hours and 1.5% gain in the past week.

After two successive weeks of gains, the S&P 500 Index (SPX) started the week on a positive note. This suggests a risk-on sentiment which is a bullish sign. The volatility is likely to pick up as 11% of the S&P 500 companies are expected to report results this week.

TLDR

Dogecoin (DOGE) is fighting for life amid rock-bottom price action following a -3.5% drop last week - leaving some panicked bag-holders asking 'is Dogecoin going to zero'?

Bitcoin was down 0.2% at $26,809 as of 11:30 p.m., while Ethereum was below the $1,550 level. Meanwhile, the global cryptocurrency market cap declined 0.5% to around $1.05 trillion in the last 24 hours. In today's trade, Toncoin and Solana fell up to 3%. While BNB, XRP, Dogecoin, Tron, and Polkadot also declined.

As the year-end bull market looms, Dogecoin (DOGE) showcases a remarkable rally, surging by 4% and reigniting speculations of a potential leap to the $1 mark. 

A trending move in an asset class attracts traders, while a dull price action drives investors to the sidelines. Bitcoin (BTC) has largely been stuck in a range for the past several months, which could be one of the reasons for the drop in spot volumes. Bloomberg reported on Oct. 11 that Coinbase’s spot trading volume plunged 52% in Q3 2023 compared to Q3 2022.