Crypto traders are eagerly acquiring DOGE with the optimistic expectation that the token will assume a more significant role on Twitter, following the platform's recent rebranding as the all-encompassing 'everything app' X on Monday.
With a dearth of positive news, a seasoned analyst highlighted the potential for Bitcoin to reach the $27,000 mark in the near term.
A technical analysis indicator named Bollinger bandwidth indicates that the tranquil period of Dogecoin may come to an abrupt conclusion, with a significant movement expected in either direction.
The current price is $0.0750 per DOGE. Dogecoin is 89.87% below the all time high of $0.74. The current circulating supply is 132,670,764,299.894 DOGE. Dogecoin (DOGE) was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme.
Dogecoin features the face of the Shiba Inu dog from the " Doge " meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of US$85,314,347,523 on May 5, 2021.
The same year, the Dogecoin community collectively donated over $170,000 in DOGE to more than a dozen charitable causes, including a Kenyan clean water charity and an organization that supplied service dogs to blind children.
Dogecoin does not have a supply cap like other cryptocurrencies, such as Bitcoin with its capped supply of 21 million coins. Consequently, it lacks this digital scarcity value that capped cryptocurrencies have, which has lead some to doubt its long-term value potential.
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