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DOGEUSD

Dogecoin / US Dollar

Industry

Digital Currency

Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and an almost sarcastic meme coin. Launched in December 2013, Dogecoin has the image of a Shiba Inu dog as its logo.

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Market Vector launched the MarketVector Meme Coin Index (MEMECOIN), featuring top meme coins like DOGE and SHIB, indicating a growing mainstream adoption of meme coins. The index, which includes six meme coins with Dogecoin, Shiba Inu, and Pepe as the top components, is down 2.7% in a single day but up 186% year-over-year. Despite a -23.3% performance since its inception in October 2021, its year-to-date performance is +138%. The index's market cap stands at $44.7 billion, with its next review date on May 27, 2024.

Portfolio Pulse from Khyathi Dalal

May 09, 2024 | 12:52 pm

Floki, a cryptocurrency named after Elon Musk's dog, has become the title sponsor for the upcoming cricket series between Ireland and Pakistan, signaling its growing mainstream penetration, especially in sports. This partnership, along with previous sponsorships in cricket, aims to boost Floki's brand awareness and adoption among sports fans. Floki is trading up, contrasting with other meme cryptocurrencies like Dogecoin and Shiba Inu, which have lost value. Floki's efforts to add utility to its token, including a staking service and an asset tokenization platform, TokenFi, are part of its strategy to transcend the meme coin category.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 7:20 am

Bitcoin, Ethereum, and Dogecoin experienced declines, with Bitcoin's fundamentals suggesting a potential 300% upside, indicating a future price between $250K-$275K. The cryptocurrency market saw over $140 million in liquidations, with a notable increase in bullish positions on Bitcoin despite its recent losses. The U.S. equity market showed mixed results, and the correlation between cryptocurrencies and traditional markets remains low, suggesting independent movements.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 2:00 am

Cryptocurrency markets remained stagnant with Bitcoin, Ethereum, Dogecoin, and others trading slightly down. Notable developments include FTX's plan to repay customers with interest, a major trading firm's $1B Bitcoin ETF purchase, and Hong Kong's launch of a $128M Crypto ETF Liquidity Fund. Analysts remain optimistic about Bitcoin's potential, predicting significant price targets despite current market consolidation.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 8:03 pm

Crypto trader Intuitio has classified Dogecoin (DOGE) as the 'BTC of memes,' likening it to Bitcoin in terms of safety and foundational status among meme coins. He identifies Pepe (PEPE) and Dogwifhat (WIF) as the Ethereum equivalents in the meme coin space, suggesting they offer the best risk/reward ratio. Intuitio advises a portfolio allocation of 70% in Pepe/Wif and 30% in other meme categories for potential gains, cautioning about the high volatility and early stage of the meme coin market.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 6:07 pm

VanEck, a major ETF issuer, has launched the 'MEMECOIN' index, tracking the six largest meme coins including DOGE and SHIB. The index aims to offer diversified exposure to meme coins, with a cap of 30% on individual coin weightings. This move highlights the growing interest in meme coins as potential investment vehicles despite their speculative nature.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 3:58 pm

Pseudonymous crypto trader Kevin predicts a challenging period for altcoins, despite the first-ever 'weekly golden cross' of the 50 SMA crossing the 200 SMA, potentially signaling significant market movements. Kevin specifically mentions Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Avalanche (AVAX) as part of his analysis. Another trader, Michaël van de Poppe, remains heavily allocated in altcoins, emphasizing patience for a market reversal.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 3:03 pm

Dogecoin (CRYPTO: DOGE) has seen a 4.75% decrease in price over the last 24 hours, now at $0.15, contrasting with a 21.0% increase over the past week. Trading volume dropped by 37.0%, while the circulating supply slightly rose by 0.07%, reaching 144.20 billion. Dogecoin's market cap ranking is now #9 at $21.72 billion.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:01 pm

Dogecoin (DOGE) is down 6%, with traders advising caution and suggesting to wait for a price level flip before entering. Despite a 28% monthly drop, large transaction volume and daily active addresses have increased, indicating mixed signals in its trading activity. Bitcoin's price range is expected to significantly impact DOGE and other altcoins.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 12:34 pm

Glauber Contessoto, known as "SlumDOGE Millionaire", highlighted Solana's (SOL) significant price increase over the past year. A year ago, investing $250K in Solana would have yielded $1.65M today, marking a 6.6x increase. Solana's price saw a massive surge from historical lows post-FTX implosion, becoming the fifth-largest cryptocurrency by surpassing XRP. Despite a slower growth in 2024, bullish sentiment remains, with predictions of reaching new highs.

Portfolio Pulse from Aniket Verma

May 08, 2024 | 8:59 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.