Social Media Driven Bull Rally: DOGE Outperformed Other Memecoin To Establish A Strong Presence
Dogecoin (DOGE) was on a wonderful journey to obtain the week-after-week levels of $0.186 today, following the leading crypto coin asset Bitcoin (BTC), breaking through the $69,000 resistance at 5 PM yesterday. Following the news, Dogecoin overthrew Cardano (ADA) from the ninth position table by global crypto market cap.
Tapping $69,290.35 as the most noteworthy point yet, Bitcoin quickly retraced to trade somewhat below $69K, while Dogecoin’s high price correlation with BTC altogether helped the canine crypto. According to the data by IntoTheBlock, the BTC versus DOGE value correlation is at 0.91, yet that is not the only variable driving the twofold digit run.
Read Also: The Recent Ascend In Dogecoin Price
🛸Memecoins are seeing
positive sentiment across
the board today but which
are showing the strongest
combined social and
market activity?🛰️Let's take a look…
1⃣ Dogecoin $DOGE
2⃣ TokenFi $TOKEN
3⃣ Kimbo $KIMBO
4⃣ Baby Doge Coin #BABYDOGE
5⃣ Brett $BRETT
6⃣ Byte $BYTE
7⃣… pic.twitter.com/mLNVkcpHDq— LunarCrush (@LunarCrush) March 23, 2024
The memecoin bonanza forges ahead crypto-accommodating social media stages, with Dogecoin taking up the vast majority of all meme currency-related social activity. As per blockchain’s social information analyst firm LunarCrush, DOGE saw a gigantic surge last Saturday, with 21.68 million interactions.
In Contrast
With an incredible trading volume of $5.22 billion throughout recent hours, DOGE could confront major resistance because of selling orders stacking up to $200 million. In contrast to $140 million pending purchases, this hole affirms the overbought condition on Dogecoin’s 1-day technical chart, highlighting a 69.07 Relative Strength Inndex (RSI).
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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
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