Dogecoin Gains Are Eclipsed By Major Cryptos: Why This Doge Bull Says It's More Useful Than Bitcoin
Dogecoin (CRYPTO: DOGE) traded 1.03% higher at $0.0857 over 24 hours leading up to Tuesday morning.
DOGE saw gains alongside other major coins as the global cryptocurrency market cap rose 3.09% to $1.3 trillion at press time.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 0.5% |
| 24-hour against Bitcoin | -2.4% |
| 24-hour against Ethereum | -0.5% |
| 7-day | 2.4% |
| 30-day | -34.9% |
|
YTD performance |
-50.2% |
See Also: How To Get Free Crypto
The DOGE Factors
- DOGE was not among the most mentioned coins on Twitter at press time, according to Cointrendz data
- The 24-hour trading volume for DOGE rose 22% to $644 million, according to CoinMarketCap
- Coinglass data indicated that $1.72 million worth of DOGE were liquidated over 24 hours as the price of DOGE rose moderately
- DOGE’s relative strength index was at 41.16 at press time, according to Trading View. RSI is considered to be oversold below 30 and overbought over 70
Crypto Spikes Along With Other Risk Assets
The cryptocurrency market rose Monday evening, along with stock futures. Risk sentiment on the crypto side remains fearful. Cryptocurrencies are still showing strong correlation with stocks, according to Justin Bennett. The analyst said the apex coin is about to play “catch up” with equities.
DOGE Co-Creator’s on Crypto Comeback
Billy Markus, the co-creator of DOGE, shared a meme on the crypto comeback, which appeared to suggest the exuberance was overblown in the light of the weeks of bearish downturn.
oh wow i didn’t even notice for most of the day but CRYPTO IS BACK BABY pic.twitter.com/FrOYwvBJS8
— Shibetoshi Nakamoto (@BillyM2k) May 31, 2022
DOGE On The Web
Gokhshtein Media CEO and DOGE-bull David Gokhshtein praised DOGE’s utility and contrasted it with Bitcoin, which is being hodled by people who are waiting for the apex crypto to reach at least $250,000.
People HODL #bitcoin because they are waiting for these $250K plus price points.
Something like $DOGE is actually being used and it’s giving people a better understanding of what cryptocurrency meant to do.
— David Gokhshtein (@davidgokhshtein) May 29, 2022
Read Next: Elon Musk Shares Cryptic Memes: Is He A 'Priority' CIA Target?
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Billy Markus David Gokhshtein Justin Bennet why it's movingCryptocurrency News Markets
