Dogecoin (DOGE) Chop is trading on Friday morning, and in a sense of frustration, the leading cryptocurrencies, Bitcoin and Ethereum, will remain under pressure from recent buyers in the crypto market. At the time of writing this article. DOGE / USD It sells for around $ 0.175.
As the DOGE year draws to a close by 2021, there is some good news in store for some of the upcoming memecoin. According to Reddit Re-Cup of the Year, crypto currencies were the most popular topic on the platform and Dogecoin became the most popular subreddit in the crypto category.
In terms of the number of views Dogecoin surpassed market leader Bitcoin’s subreddit but also investors r / superstonk ranking above another popular subreddit – one of the leading subreddits to discuss trading ideas in stock and crypto markets. According to a recent Reddit report, the first popular currency that started as a joke is that it will be taken seriously by investors in 2021 and will continue to be one of the top 15 secret currencies in market capital.
The effect of masks on Dogecoin
Earlier this week, DOGE received more acclaim from popular and well-known ‘Dogefather’ Elon Musk. In a podcast with Lex Friedman, Tesla’s CEO reiterated that he has a much larger trading volume than Bitcoin, although he joked about his origins.
Although the mask is highly volatile in the general market, it has had a significant impact on supporting DOGE throughout the year. Earlier this year, when Tesla stopped accepting payments in Bitcoin, digital currencies suffered a flashback because mining was a labor-intensive process and the brand’s commitment to the green world was in jeopardy.
Recently, on the other hand, Tesla strongly encouraged Dogecoin when it announced that it would soon start accepting payment methods for certain products. Musk has been at the forefront of urging the developers behind the popular memecoin to make changes to the ecosystem, making it more efficient to use for digital transactions.
DOGE / USD Technical Analysis
In the DOGE / USD 4-hour chart, most moving averages indicate depression bias. However, the short term MAs – 10 EMA and 20 EMA, along with the popular technical indicators MACD and Momentum indicate that there are buyers in the market.
DOGE / USD
The price of Dogecoin is below $ 0.182 but is higher than the immediate resistance of $ 0.169. We need to see if this support is available, as vendors can see DOGE check this key step.