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2024

Dogecoin

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Dogecoin (DOGE), the leading meme cryptocurrency, might be on track to reach <a href="https://twitter.com/intotheblock/status/1777722911031275769" rel="noopener noreferrer nofollow">a new record high</a>, according to analytics platform IntoTheBlock.&nbsp;
The whimsical cryptocurrency, which is the most famous parody of Bitcoin, has surged by more than 10% over the past month, outperforming some other major altcoins.&nbsp;
However, in order to move to new highs, the meme coin would first need to convincingly break above the $0.20 level.&nbsp;
According to data provided by IntoTheBlock, 32,000 addresses hold almost 4 billion DOGE tokens at a loss at current prices.&nbsp;
The leading meme cryptocurrency is currently changing hands at $0.18 on major spot exchanges, according to data provided by the CoinGecko exchange.&nbsp;
Even at current prices, 80% of Dogecoin holders are making money, according to IntoTheBlock.&nbsp;
With that being said, it is worth mentioning that various on-chain signals, including net network growth and concentration, are currently flashing red. However, the bid-ask volume imbalance on exchanges is in the green area.&nbsp;
Earlier today, Dogecoin managed to peak at $0.2047. However, the meme cryptocurrency has since plunged all the way to $0.1868 due to Bitcoin's weakness. The largest cryptocurrency slipped to $68,207 earlier today after reaching an intraday high above the $72,000 level.&nbsp;
Cryptocurrency traders are now preparing to react to the key March <a href="https://u.today/bitcoin-disappoints-traders-following-cpi-data" rel="noopener noreferrer nofollow">CPI</a> inflation data, which will be published on Wednesday. Lower-than-expected numbers could be a major bullish catalyst for major cryptocurrencies, including Dogecoin, since it means that the US Federal Reserve would be more likely to cut interest rates.

Dogecoin Looking for New 2024 Peak

U_Today

Alte articole publicate pe 9 apr. 2024

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