Main navigation

This DOGE Index Shows Possible Buying Opportunity

Thu, 08/25/2022 - 13:38
article image
Yuri Molchan
Dogecoin Fear and Greed index shows positive signal for DOGE market
This DOGE Index Shows Possible Buying Opportunity
Cover image via

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.

Read U.TODAY on
Google News

The index for Fear and Greed related to Dogecoin shows 35, which means it is stepping into the "fear" zone. Here is why this is good for the market.

Dogecoin Fear and Greed index shows "fear"

According to the current value demonstrated by the Fear and Greed index for the original and most popular canine cryptocurrency Dogecoin, it is in the "fear" territory at the moment, showing 35 out of 100.

This means that the market is going up as there is a lot of FOMO ("fear of missing out") here and, according to the portal, which developed the index, this could signify a buying opportunity for the token.

Here's what's happened to DOGE lately

As covered by U.Today previously, later this year, the launch of a Doge-Ethereum bridge is expected. Thanks to this, users will be able to transfer DOGE to the Ethereum chain and back.

The bridge will be governed by a DAO with the Dogecoin Foundation, BitGo, Blue Pepper and MyDoge as genesis members. It will allow DOGE to be used in smart contracts, decentralized finance apps and NFT marketplaces, thus increasing its utility greatly.

Adoption of Dogecoin is also growing. It has recently been added by exchange, which has offices in St. Vincent and Grenadines and Dubai, and was founded this year. Prior to that, the platform also listed the DOGE rival, Shiba Inu.

As was reported earlier this week, Dogecoin, along with XLM, LTC and other coins, has been added by the Coinstar chain to its crypto ATMs. Coinstar partnered with the Coinme exchange four years ago to start offering its customers operations to convert cash into crypto, and this experiment has been so successful that the company has gradually been adding more coins to its ATMs.

Last October, the Walmart retail giant installed 200 Coinstar ATMs in its shops, so now consumers have a chance to buy crypto in U.S. grocery stores.

DOGE Better Watch Out as Sentiment Around Polkadot Is Most Positive Since 2021

240 million Doge shifted by anon users for tiny fees

As per a few recent tweets by @DogeWhaleAlert, over the past few hours, anonymous wallets shifted an amount close to 200 million Dogecoin between each other.

Two transfers carrying 100,029,474 and 99,999,950 DOGE were worth $6.8 million and $6.9 million, respectively, in fiat. The third transaction, which wired 40,246,379 DOGE (evaluated at $2,787,826) was made nearly 20 hours ago.

The fees charged for these transfers were minute compared to what banks usually charge and constituted $0.07 and $0.31. For only one transfer, the fee was $8.72, which is still incomparable to what banks would charge for moving $7 million.

Image via Twitter
article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at