Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dog-themed cryptocurrency Dogecoin (DOGE), continues to expand its exposure with new exchange listings.
In the most recent instance, Flitpay, an Indian crypto exchange, announced that DOGE deposits and withdrawals are now available on its platform.
As reported, top crypto exchange Binance announced the listing of a USDC-margined DOGE perpetual contract that allows users to trade with up to 75x leverage.
According to IntoTheBlock, Dogecoin achieved multiple milestones in December, including five million addresses with balances and a large increase in transactions.
This rise in activity originally spurred price increases. However, the latest price fall implies that slightly over half of Dogecoin holders (54%) are now profitable, a level not seen since early November 2023.
DOGE is now the tenth largest cryptocurrency by market capitalization, at more than $11.41 billion in valuation, and trades for $0.08 per coin.
Dogecoin price action
Dogecoin has been trading near $0.08 for the previous few days, but bears have been unable to bring the price down to $0.07. Notably, Dogecoin's price has been consolidating in a range since the beginning of the year.
On the other hand, if the Dogecoin price breaks above the daily MA 50 of $0.089, it will indicate that the bears are losing control. Buyers will next attempt to boost the Dogecoin price to the next overhead barrier of $0.10 to $0.11.
At the start of the week, crypto analyst Ali predicted that as long as the $0.074 support cluster holds, DOGE could bounce to $0.100 or higher.
Alex Dovbnya
Denys Serhiichuk
