{"id":172348,"date":"2023-10-11T21:32:51","date_gmt":"2023-10-11T16:02:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172348"},"modified":"2023-10-11T21:32:51","modified_gmt":"2023-10-11T16:02:51","slug":"dogecoin-doge-hits-truce-as-recovery-signals-surface-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dogecoin-doge-hits-truce-as-recovery-signals-surface-crypto-news\/","title":{"rendered":"Dogecoin (DOGE) Hits Truce as Recovery Signals Surface – Crypto News"},"content":{"rendered":"

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Godfrey Benjamin<\/p>\n

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Dogecoin (DOGE) flashes two recovery triggers as market drawdown wanes<\/p>\n<\/div>\n

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\"Dogecoin

Cover image via www.freepik.com<\/a><\/figcaption>
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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.<\/p>\n<\/div>\n<\/div>\n

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Dogecoin (DOGE) is arguably one of the biggest casualties of the latest bearish market drawdown. Despite the current recovery that is underway, Dogecoin is still\u00a0priced<\/a> at $0.05887, down by 0.17% in the past 24 hours. It is worth noting that the meme coin has a massive drawdown, with its price down as low as 5% earlier in the trading day.<\/p>\n

As it stands, the bulls and bears appear to have come to a compromise, as the sell-off is gradually wearing off as bullish sentiments begin to take over. While the trading volume as marked by CoinMarketCap is down by 22%, with just $153.7 million, data from IntoTheBlock (ITB)\u00a0reveals<\/a> that the current Dogecoin whale transaction is up by 49.6% to $1.32 billion.<\/p>\n

This contrasting performance data is a sign that there is a counterbalance in the DOGE metrics, as\u00a0marked<\/a> by the differences in retail and whale buyers. Dogecoin has not particularly showcased a promising bullish outlook in recent times, but the ITB data also showed that there is an uptick in the total number of Daily Active Addresses (DAA).<\/p>\n

Per the data, active DOGE addresses are now pegged at 45.4K, up by 2.45% in the past 24 hours.<\/p>\n

Is Dogecoin ready to soar?<\/h2>\n

There have been a lot of consistent\u00a0uptrend flashes<\/a> in Dogecoin in recent times, but the impact on the price has not been commensurate as expected.<\/p>\n

This implies that the potential uptrend in the price of the premier meme coin is largely dependent on the broader market momentum. With its very high correlation with Bitcoin (BTC), we can expect DOGE to sustain its growth if the projected BTC recovery is actualized.<\/p>\n

From key\u00a0expectations,<\/a> including the approval of the Bitcoin spot Exchange Traded Fund (ETF) product to the pre-Bitcoin halving rally, eyes will be fastened on BTC, as DOGE’s growth depends on it.<\/p>\n<\/div>\n

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About the author<\/p>\n


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Godfrey Benjamin<\/p>\n

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Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey’s articles has been featured on Blockchain.news,\u00a0Cryptonews\u00a0and Coingape, among others.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Godfrey Benjamin Dogecoin (DOGE) flashes two recovery triggers as market drawdown wanes Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial […]<\/p>\n","protected":false},"author":2,"featured_media":172349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-172348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=172348"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172348\/revisions"}],"predecessor-version":[{"id":172351,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172348\/revisions\/172351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/172349"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}