The price of dog currency (DOGE) continued to decline for the third consecutive day. The current trading price is 4
The price of dog currency (DOGE) continued to decline for the third consecutive day. The current trading price is 4.9% lower than its weekly high of $0.06640.
Bitcoin is once again facing resistance, with the largest cryptocurrency falling 8% from its weekly high. Due to the fact that most counterfeit coins follow the price trend of Bitcoin, this bearish trend of Bitcoin has also led to the selling of counterfeit coins such as Dog Coin.
DOGE holders are full of hope for X integration
On Monday, the owner of X reported that X (formerly Twitter) had obtained a currency transmission license from Rhode Island. This license will allow X to use digital assets as a trading tool. This has sparked speculation that Dogcoin may be integrated into Twitter for payment.
When it comes to the integration of cryptocurrencies, Arculus announced a partnership with BitPay to use popular cryptocurrencies as payment options. The digital security platform will provide Arculus cards using Bitcoin, Ethereum, and other counterfeit currencies such as Dogdog and Chaigou. However, the price of dog coins was not affected by the positive news.
Dog coin prices are consolidating at the midpoint of the range
The price chart of Doge shows that for over a year, its price has been consolidating in the middle of the range of $0.05 to $0.08. Prices are also attempting to break through the plotted trend line. The current price is 15% lower than the 200 moving average, which is a bearish signal.
If the price falls below the middle range of $0.0625, the price forecast for Dogcoin will turn bearish. In this case, a 20% correction may be made towards the low point of the 0.05 USD range. For bullish situations, prices must quickly recover from the 200 moving average. This will provide sufficient momentum for bulls to target a range high of around $0.08.
I recommend hoarding mainstream products more than counterfeiting
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