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In a recent X post, vocal Dogecoin community member Mishaboar shared a crucial security reminder with Bitcoin holders. This comes after Bitcoin hardware wallet BitBox notified users of a security update that fixed two severe vulnerabilities in its firmware.
Mishaboar noted that while BitBox never added support for Dogecoin, it is a wallet that is very popular among BTC holders. Mishaboar engaged with a post from BitBox which reported the release of the Dixence security update.
During its internal audits, BitBox said it discovered and fixed multiple security issues in its firmware. BitBox stated that a severe exploit of a fixed vulnerability would have enabled an attacker to manipulate users into installing malicious firmware, unlock their device, and subsequently steal their funds. In light of this, BitBox urged its users to update their BitBoxApp and device firmware via the BitBoxApp settings.
Mishaboar echoed this advisory, saying that individuals using a BitBox device should update immediately to address the two severe vulnerabilities. He advised that, due to the nature of the vulnerabilities, users should ensure the computer they use to update the firmware is clean before proceeding with the installation and that if they have access to a fresh or new computer, this is even better.
Dogecoin prepares for next major move
According to crypto analyst Ali, Dogecoin is experiencing its tightest Bollinger Band squeeze since September 2023. Such extreme compression suggests volatility is building, and a major price move could be approaching.
In a weekend post, Ali noted that the Tom DeMark Sequential flashed a buy signal on Dogecoin's monthly chart last month, pointing to a potential trend reversal. The current setup is quite similar to what was seen in August 2022 when Dogecoin formed an inverted hammer and a TD buy signal, followed by a doji candle. A 145% monthly rally followed this setup.
DOGE is now showing a similar pattern: an inverted hammer, a TD buy signal, and a developing doji candle, and if history repeats, the next monthly candle could spark a significant move.
U.Today Editorial Team
Dan Burgin
