Dogecoin (CRYPTO: DOGE) traded 5.4% lower at $0.08 over 24 hours leading up to early Thursday.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | -5.4% |
| 24-hour against Bitcoin | -0.02% |
| 24-hour against Ethereum | -5.5% |
| 7-day | 0.6% |
| 30-day | -38.1% |
|
YTD performance |
-53.1% |
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The DOGE Factors
- DOGE was not among the most mentioned coins on Twitter at press time, according to Cointrendz.
- Dogecoin’s 24-hour trading volume rose 23.1% to $794.98 million, according to CoinMarketCap data.
- Coinglass figures show that $2.4 million worth of DOGE were liquidated over 24 hours as the price of the meme coin declined.
- DOGE’s relative strength index stood at 38.19 at press time. RSI below 30 indicates oversold conditions, while RSI over 70 indicates overbought conditions.
Cryptocurrencies Decline Sharply
Dogecoin and other cryptocurrencies declined sharply on Wednesday evening following downwards momentum in stocks. Equities came under pressure after San Francisco Federal Reserve President Mary Daly said she supports raising rates aggressively until inflation can be contained.
DOGE Co-creator On Blockchains
Billy Markus, the co-creator of DOGE, on Thursday said blockchains that are not decentralized don’t “have any reason or need to exist.”
a blockchain that is not decentralized does not have any reason or need to exist
— Shibetoshi Nakamoto (@BillyM2k) June 2, 2022
Notably, on Wednesday, Solana’s blockchain was halted for four hours after validators reported a bug.
DOGE On The Web
DOGE-oriented Twitter handle Mishaboar noted that Binance has finally provided a link to Dogecoin wallet containing proof of assets for their BSC-DOGE token.
Indeed, @Binance finally added a link to a #Dogecoin wallet containing Proof of Assets for for their BSC-Doge.
— Mishaboar (@mishaboar) June 1, 2022
Thanks, first of all, to the #Dogecoin community. And thank you @cz_binance for finally acting.
A few early notes about this.https://t.co/stK5JJjRut
The revelation also led to the discovery by the Dogecoin Italia handle that Binance held the second-richest Dogecoin wallet.
it does!
— Shibetoshi Nakamoto (@BillyM2k) June 1, 2022
amusing how cz was spreading fud about it being centralized to one wallet when Binance has the second largest one https://t.co/VBzLpdn5dy
Markus said it was “amusing” how Binance CEO Changpeng Zhao was spreading FUD about DOGE being centralized when Binance held the second-largest one.
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