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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Dogecoin Multiple Attempts At $0.10: Will The Barrier Finally Be Broken?

Christian Encila
Christian Encila
2 years ago
3 mins read
Dogecoin

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Dogecoin (DOGE), in light of the current meme coin craze, has become a major topic of conversation and speculation in the financial circles. Over the past weeks, Dogecoin has tallied decent gains in value, and getting the nod of investors and enthusiasts alike. 

Dogecoin has witnessed a considerable rise, driven by factors such as celebrity endorsements, social media frenzy, and the growing acceptance of cryptocurrencies in mainstream culture.

Now, as the month of May approaches its fourth week, many are eagerly anticipating whether the meme coin will reach the highly anticipated milestone of $0.10 per coin.

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Dogecoin Price Rollercoaster Ride

In April of this year, Dogecoin reached a new high after Tesla and former Twitter CEO Elon Musk, who is one of the most vocal supporters of DOGE, changed the social media platform’s logo to a Shiba Inu dog, which has become synonymous with the cryptocurrency.

The move was seen as a significant endorsement of Dogecoin, and its value surged by more than 25% in a matter of hours.

However, the excitement was short-lived as the price of Dogecoin soon corrected, leading to concerns that the cryptocurrency was simply a speculative bubble waiting to burst. But the DOGE faithful remained steadfast, and as the weeks went by, the cryptocurrency began to regain its momentum.

There It Goes Again

Yesterday, the price of the meme coin went up as the billionaire responded to a tweet: “Such Doge, much hair!” with a laughing emoticon.

Such Doge, much hair! 😂🐾 @BillyM2k @elonmusk @dogeofficialceo pic.twitter.com/imaUn8BNLX

— Endrina Pavlić (@EPavlic) May 16, 2023

In recent days, Dogecoin has once again moved up the ranks, thanks in part to the appointment of Twitter’s new CEO, Linda Yaccarino, who is rumored to be a fan of cryptocurrencies. 

DOGE: Stuck In Sideways Trading

Dogecoin, the cryptocurrency that started as a joke, has been trading sideways for most of the year, hovering between the range of $0.070-$0.10. Despite several attempts to break through the crucial $0.10 threshold, Dogecoin has been unsuccessful in doing so.

The meme coin’s peak value was $0.097 in February and $0.096 in April, both of which failed to breach the technical resistance level.

DOGE market cap currently at $10.3 billion. Chart: TradingView.com

Related Reading

Dogecoin

Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst

2 years ago

As of now, Dogecoin’s current support level is at $0.073, and with only $215 million in trading volume, it is unlikely to experience significant movement in either direction. This suggests that the cryptocurrency will likely maintain its sideways pricing pattern for the foreseeable future.

It seems unlikely that Dogecoin will reach the coveted $0.10 mark in May unless a major catalyst occurs.

Source:  Coingecko

Dogecoin, currently priced at $0.0741 according to CoinGecko, has experienced a modest 0.7% rally in the past 24 hours, indicating a slight upward momentum in its value.

Over the course of the past week, DOGE has seen a 3.0% increase, further contributing to its overall positive performance in recent days.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk)

-Featured image from Dick’s Sporting Goods

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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