Dogecoin (DOGE) Daily: Weekend Rally Cools Off, Robinhood Gives Update
Dogecoin DOGE/USD traded 2.4% lower at $0.07 over 24 hours leading up to early Monday morning
DOGE traded lower along with other major coins as the global cryptocurrency market cap fell 1.7% to $1.08 trillion at press time.
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin||-0.1%|
|24-hour against Ethereum||-1.3%|
See Also: Best Crypto Debit Cards
The DOGE Factors
- Dogecoin’s 24-hour trading volume declined 33% to $498.34 million at press time, according to CoinMarketCap.
- Coinglass data indicated that $1.1 million worth of DOGE was liquidated over 24 hours as the price of the meme coin fell.
- Dogecoin’s relative strength index was at 53.82 at press time. An asset with an RSI of over 70 is considered overbought and below 30 is considered oversold.
Crypto Winter Shows Signs Of Abating
OANDA Senior Market Analyst Edward Moya said recently that the “crypto winter” might be over and that is the mindset needed for funds to flow back into the space. Cryptocurrency trader Michaël van de Poppe said Sunday that altcoins were “breaking out left and right” and said it was “Summer relief!”
Scammer Cryptocurrency Price Experts
Dogecoin co-creator Billy Markus expressed agreement with Mishaboar — a DOGE-centric Twitter handle — that cryptocurrency “future price experts” are “phonies and scammers.”
all cryptocurrency “future price experts” are phonies and scammers
— Shibetoshi Nakamoto (@BillyM2k) August 1, 2022
Markus’ comments came after Mishaboar posted criticism of two publications for carrying a story titled “Sell Now — Reality Bites For Dogecoin As Expert Panel Says Joke Cryptocurrency Is Heading To Zero, Cuts Price Forecast For BNB, Solana & Cardano.”
DOGE On The Web
Dogecoin “millionaire” Glauber Contessoto interacted with Robinhood Markets Inc HOOD CEO Vlad Tenev on Twitter.
Contessoto asked Tenev when Robinhood will raise cryptocurrency transfer limits of $5,000 per 24 hours a day.
“We’re working to raise these limits … we already increased them from $3K to $5K per day,” said Tenev. The CEO said the reason why big withdrawals weren’t allowed instantly was due to “fraud losses.”
yep we’re working to raise these limits … we already increased them from $3K to $5K per day
the reason instant big withdrawals are a hard problem is because of fraud losses … other platforms make up for fraud losses by charging high fees
— VLAD (@vladtenev) July 31, 2022