Friday, April 19Welcome to Cryptolifedigital

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

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).

Follow us on Twitter, FacebookTelegram, and Google News

Share this:

Leave a Reply

Your email address will not be published. Required fields are marked *