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Dogecoin Price Shows Positive Signs Above $0.075 Resistance Against US Dollar

Dogecoin is currently trading above the $0.075 resistance against the US Dollar and could continue to rally if it breaks the $0.0835 resistance zone. The price is trading well above the $0.0765 zone and the 100 simple moving average (4 hours), with a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair.

Shiba Inu and Dogecoin See Growth While Pepe Struggles, Bone ShibaSwap Re-enters Top 100 Club

Shiba Inu (SHIB) and Dogecoin (DOGE) saw significant growth in the past week, with Bone ShibaSwap (BONE) also experiencing promising growth and re-entering the top 100. However, Pepe (PEPE) struggled to maintain its price. The positive price action of SHIB and DOGE resulted in a surge in positive sentiment, while BONE's chart reflected excitement around the upcoming Shibarium mainnet launch.

Dogecoin's Daily Active Users Up by 28.63% Amid Broader Market Freefall

Most altcoins, including Dogecoin, have experienced a significant drop in value as the top tokens try to recover from losses incurred in the past week. Despite a 2.49% drop in the past 24 hours, Dogecoin has seen a 2.75% gain in the last seven days, and its daily active users have increased by 28.63% to 66.42K, indicating robust activity and positive retail interest. While Dogecoin's use as a payment token is limited compared to Bitcoin or Litecoin, its active community and Elon Musk's influence have helped to boost its growth. The current freefall of Dogecoin may face resistance due to its broader growth boosters.

PEPE Investors Switching to Dogecoin: What's Driving the Trend?

The price of PEPE has dropped by over 45% since its peak in July, with investors selling off their holdings to invest in Dogecoin instead. This shift in investment has resulted in a decline in PEPE's network activity, with daily active addresses dropping by 61% in just two weeks. Additionally, PEPE's network growth has also declined, indicating a loss of market share to competitors in the memecoin world. If investors continue to sell off PEPE in favor of Dogecoin, the price of PEPE could drop even further.

Dogecoin Surges in Price and Social Dominance, While Other Memecoins Lag Behind

Dogecoin's price has experienced a significant increase, which may be attributed to Elon Musk's recent actions and rumors that DOGE may have a larger purpose for his website Despite regulatory scrutiny and market instability, traders and investors continue to accumulate DOGE, resulting in a 25% increase in its price over the past two weeks.

Dogecoin Liquidations Spike, Majority Are Short Contracts

Data reveals that Dogecoin futures liquidations have been the highest in the cryptocurrency market in the past 24 hours due to the coin's upward trend. The surge in Dogecoin's value has attracted speculators, resulting in high liquidations, with short contract holders being the majority. Elon Musk's cryptic hints about possible Dogecoin integration on Twitter have contributed to the asset's positive signs and momentum.

Coinbase Lists 8 Altcoins for Trading in Germany, Dogecoin Continues to Rise

Coinbase, the leading US-based cryptocurrency exchange, has announced that eight altcoins are now available for trading in Germany. These tokens include Helium (HNT), Blur (BLUR), Arbitrum (ARB), MultiversX (EGLD), 00 Token (00), Audius (AUDIO), Lido DAO (LDO), and Automata (ATA). Users can buy, sell, convert, send, receive, or store these assets on and the Coinbase iOS and Android apps. Meanwhile, Dogecoin's price continues to rise following its Twitter rebranding to X and speculation about its potential integration as a payment currency on X Payments.

Dogecoin Jumps 10% Amid Speculation of Integration into Elon Musk's X Payments System; Price Predictions Become Bullish

Dogecoin (DOGE) has seen a 10% surge in value, with weekly gains reaching almost 15%. This is due to speculation that the cryptocurrency may be integrated into a future X crypto-based payments solution, following Elon Musk's support and advocacy of the token. Technical developments suggest that Dogecoin's bear market may be coming to an end, with a potential retest of 2023's highs in the $0.16 area, marking gains of nearly 100% from current levels. Additionally, a new token called BTC20, which runs on an eco-friendly, low energy consuming Proof-of-Stake Ethereum blockchain, is gaining hype as an alternative to Bitcoin.

Elon Musk's Twitter Rebranding Could Hurt Twitter's Value, Experts Say

Elon Musk has stated that he is willing to lose money in order to speak his mind, following the Tesla shareholder meeting in May 2023. However, experts believe that the recent rebranding of Twitter to X is solely for Musk's ego, and could be counterproductive for the social media company. While the Dogecoin price has risen since Musk announced the rebranding plans, brand experts believe the renaming exercise could eventually affect Tesla stock as well. Despite Twitter's transformation into a global marketplace, Musk faces the challenge of recovering the platform's advertising revenue, which has dropped by over 50% since October 2022.

Altcoins Dominate July 2023 as Bitcoin's Dominance Drops by 8%: Kaiko Data

Altcoins have dominated the market in July 2023, with Ripple's victory over the SEC lawsuit and Bitcoin consolidating. Bitcoin's transaction volume dominance decreased by 8% in July, while altcoins like Dogecoin have gained popularity. Bitcoin's dominance across all top 25 centralized exchanges is at its lowest level since April 2023, and offshore exchanges have seen a decline in BTC trading activity due to a surge in altcoin trading volume in South Korea. Altcoin liquidity has also slightly increased since the beginning of July, with the 1% market depth for the top 10 altcoins by market cap growing by around $20 million. Dogecoin has seen a surge in trading volume and price, becoming the seventh-largest cryptocurrency by market cap.