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Dogecoin (DOGE) Grows 14% in Rebound Rally – Here’s Why By DailyCoin

© Stocksak Dogecoin (DOGE) Grows 14% in Rebound Rally – Here’s Why

After the prolonged crypto winter, the top dog memcoin (DOGE), managed to bounce back. The 10th ranked cryptocurrency saw a two-week high Wednesday, with 14% gains over the last 24 hours. It now leads the altcoin race. Kriss, a crypto YouTuber, noticed that short positions on DOGE were being liquidated. This creates a bullish sentiment for canine coins.

What Sparked DOGE’s Bull Run?

One reason is the strong support of the DOGE Army. The hashtag #DogecoinToTheMoon Twitter trending this Wednesday as DOGE holders share memes and encouragement words.

With DOGE Army’s active presence on Twitter, a lot of crypto enthusiasts and influencers are speculating about DOGE’s next goals. Crypto influencer Matt Wallace, for instance, sees the short-term milestone at seven cents before moving up to $28.

Rev. Dr. Doge Christopher Benek reminded the public that Matt Wallace promised to delete his Twitter account if DOGE doesn’t hit $1 by the end of 2022. Others in the DOGE Army feel it could go higher, but Crypto Twitter is unanimous that DOGE is on the rise.

DOGE is on its way to the Moon

Another reason for DOGE’s lead in the rebound race is the possibility of Twitter integration. As Elon Musk, the biggest fan of the Japanese dog themed cryptocurrency, revived the Twitter deal, there’s a real chance $DOGE would be used for Tips and other paid services on the popular microblogging platform.

On the other hand, DOGE’s trading volume has increased significantly, to the point where the top dog coin became the #2 most trending cryptocurrency on CoinMarketCap. Besides, DOGE’s market price just broke from a crucial multi-year resistance line due to a favorable RSI.

The price of the canine cryptocurrency at press time is $0.066070 according to CoinGecko. This marks 10.7% in green over the last 24 hours and 10.3% over the last seven days.

The Flipside

  • DOGE leads the altcoin rally. The unofficial Layer-2 token Dogechain DC (DC) fell 12.7%.
  • This might indicate a split community since not everyone in DOGE Army believes in the Layer-2 solution.
  • Previously, DOGE’s founder Billy Markus refused a juicy $14M offer from DC.

Why You Should Care

Dogecoin’s (DOGE) community is one of the most active in crypto. This could be beneficial for the crypto industry as $DOGE leads the altcoin race.

These stories will give you the inside scoop on memecoins

Dogecoin’s (DOGE) Unofficial Layer-2 Dogechain (DC) Surges 226% – Here’s Why

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See original on DailyCoin

News Source and Credit

Stocksak Editorial

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