Dogecoin Financial News

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

As the Bitcoin fear and greed index jumped by 26 points over last week, XTZ saw staggering gains while seeing an overbought RSI. Also, EOS invalidated its bearish tendencies by marking a close above the up-channel and aiming to retest the $2.6-level. On the other hand, Dogecoin saw a nearly 5% 24-hour loss as it fell towards the half-line of its up-channel.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

To many investors and analysts, cryptocurrencies truly stepped over the line when dogecoin was launched as a «joke currency» in 2013. The digital currency is based on a popular meme about a Shiba Inu dog. While most digital currencies offer (or at least purport to offer) some benefit in terms of transaction speed, blockchain usefulness, or practical application, dogecoin appears to simply be an attempt to cash in on the popularity of cryptocurrencies.

tax virtual digital assets at 30% in the Union Budget has encouraged the crypto industry players to come out with financial products on the asset. Crypto exchange CoinSwitch on Monday launched a recurring buy plan (RBP) (RBP) — a systematic investment plan (SIP) to buy crypto assets in India. Users can sign up through a waitlist to get early access to explore this new feature, the company said. With this, the startup wants users to beat market volatility and avoid making impulsive buying or selling decisions. Ashish Singhal, founder and CEO of CoinSwitch, said that the plan is for people who take a more systematic and long-term approach to buying crypto assets and is not really meant as a product for traders. “We are still reading the Budget fine print. Our initial understanding is that the 1% TDS will usually impact frequent traders who operate on smaller margins,” he said.“The plan will allow long-term investors to invest systematically and avoid the impulse to time the market and make emotional trading decisions, and will also empower users with a lower risk profile to explore this new asset class,” he added. Tax experts TOI spoke to said that though the Budget is silent on products such as crypto RBPs, the taxation will likely be along the same lines as SIPs, which are taxed on withdrawal.

Crypto investing app CoinSwitch has launched recurring buy plan (RBP), a systematic way to buy crypto assets in India, as part of its mission to make money equal for all. The company aims to enable users to beat market volatility and avoid making impulsive buying or selling decisions. Users can now sign up through a waitlist to get early access to explore this new feature, the company said. CoinSwitch is India's largest crypto company, catering to primarily retail investors.

cryptocurrency market was trading higher on Monday, with tokens associated with gaming witnessing a strong rise. That said, the recent rebound in prices of Bitcoin and Ethereum have turned investors cautious. Barring Terra, all other nine out of the top-10 digital tokens were trading with decent gains. Meme tokens like Dogecoin jumped more than 7 per cent while its peer Shiba Inu rallied 26 per cent. The global crypto market cap dropped almost 2 per cent to $1.94 trillion. However, the total crypto market volume dropped more than 9 per cent to $65.01 billion.

Bitcoin rallying 10 per cent to a two week high on Saturday. Ethereum, the second-largest crypto in m-cap terms, also jumped 9 per cent. Among key cryptos, Bitcoin was up 10 per cent in the last 24 hours at $41,615.37. Earlier, it hit a high of $41,983, taking gains from Thursday's lows to nearly 16 per cent and marking a 27 per cent rise from the year's low of $32,950.72 on January 24. Ethereum was quoting at $3,030.08, up 8.57 per cent.

Disappointing numbers from Meta, formerly known as Facebook and a sell-off in tech stocks such as Amazon and Snap added to the pressure. All the top-10 digital tokens were trading with decent gains. Terra gained more than 5 per cent and Bitcoin over 1 per cent. Dogecoin, however, fell marginally to slip to the eleventh spot.

Tesla, Inc. (TSLA) CEO Elon Musk is at it again. The irrepressible entrepreneur, whose tweets are blamed for crashing the price of Bitcoin (BTCUSD) earlier this year, again moved prices in cryptocurrency markets yesterday.

Manchester United, one of the world’s most popular soccer (or football) teams is reportedly set to announce a multi-year training kit sponsorship by Proof-of-Stake blockchain platform, Tezos.

Shiba Inu had a larger market cap than Dogecoin a few weeks ago but that situation had changed as Shiba Inu saw intense selling. At the time of writing, the price held on to a support level but its grip appeared weak. Further downside appeared more likely than a bounce for SHIB.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Poor earnings from Meta, formerly known as Facebook, also spoiled the market mood. Weaker guidance for the ongoing quarter added to the woes. Meanwhile, wormhole hole network being down for maintenance impacted the DeFi space. The trading volumes too remained thin. Barring the US dollar-pegged USD Coin, all of the other nine out of the top-10 digital tokens were trading lower during the trade on Thursday. Terra and Solana plunged 9 per cent each while Cardano dropped 6 per cent and Shiba Inu 4 per cent.

With the crypto market entering into a green zone over the last day, DOGE bulls endeavored to jump above its EMA ribbons after a brief consolidation phase. Also, LUNA’s 4-hour RSI found a close above the half-line.

Bitcoin is beginning to reassert its dominance over challengers to its cryptocurrency crown. The original digital coin was assailed by thousands of new «altcoin» competitors in 2021 — from solana and polkadot to litecoin and dogecoin — raising the prospect of a rapid fragmentation of the crypto market. Yet bitcoin has stemmed its loss of market share this month, and begun to regain ground, as rattled investors seek the relative safety of the biggest crypto player while they contend with an aggressive Fed and talk of war in Europe.

Dogecoin are falling out of favor. All the crypto biggies have witnessed a sharp fall in the market-cap in the last few days and meme coins are no exceptions, experiencing a severe meltdown. With crypto majors like Bitcoin and Ethereum halving their value from the peak, meme tokens including Shiba Inu and Dogecoins have plunged more than 70 per cent from their peaks.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

The global market cap surged slightly over the last 24 hours as it reclaimed the $1.8T-level. Thus, Ethereum, Dogecoin and VeChain witnessed a marginal recovery while the onus was still on the king coin to alter the broader outlook.

The crypto-market has shed almost a trillion dollars in cumulative market cap amid its recent weakness. Meanwhile, Bitcoin remains down by almost 45% in value since its record high in November 2021.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.