Bitcoin price witnessed the second leg of its rally that originated on July 20 but failed to produce a convincing close above a crucial support level. Moreover, a technical indicator is flashing a sell signal, further supporting a downswing.
Axie Infinity price has been a rebel coin due to its relatively recent launch and its breathtaking performance. While the exponential rally has not yielded gasping corrections, investors can continue to be bullish on AXS price.
Dogecoin price could see further consolidation before continuing its rally. A technical indicator suggests that DOGE has printed a local top, and the canine-themed token could retest critical support levels before making its next big move.
CEO Adam Aron and the folks over at AMC Entertainment (NYSE:AMC) sure know how to excite retail investors. The movie theater chain just announced second-quarter revenue that beat expectations. However, there is more to the AMC stock story than that. As InvestorPlace Assistant News Writer Brenden Rearick highlighted, news of AMC accepting Bitcoin (CCC:BTC-USD) is generating buzz.
This points to the fact that the first half of the year has been huge for AMC. The movie theater chain has been battling the impacts of Covid-19, fighting off debt, and becoming the star in a market-gripping story about short squeezes. Along the way, AMC and its CEO have embraced retail investors.
With this all in mind, Aron shared big news today of AMC accepting Bitcoin as a form of payment by the end of this year. He said the company would accept BTC at all U.S. locations. In addition to this, he also shared it would accept Google Pay and Apple Pay for online purchases.
Although he did not have many specifics, this clearly tickled retail investors. Another big announcement from the call is news AMC is working on some sort of partnership with GameStop (NYSE:GME), such as an in-theater gaming event.
What to Know About AMC Accepting Bitcoin
Right now, there is not a ton of detail around the latest AMC stock news. However, it comes at a key time for Bitcoin and other cryptocurrencies. Just as the earnings call was kicking off, the Senate shot down a compromise that would clarify a new tax proposal on crypto transactions.
But beyond that, it also comes at a time when companies like AMC are eager to cater to retail investors. Embracing Bitcoin… and a partnership with GameStop… are both great ways to do that.
So what is the bottom line? It is unclear yet what exactly will come of this news, but it may not be the end of the AMC-crypto story. Earlier this summer, Elon Musk signaled his support for AMC to start accepting Dogecoin (CCC:DOGE-USD).
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Sarah Smith is the Editor of Today’s Market with InvestorPlace.com.
Dogecoin and Shiba Inu coin have posted double-digit gains over the weekend as trader sentiment on memecoins turns bullish.
Luke Martin, host of “The Coinist” podcast, shares a bullish outlook on DOGE in a recent tweet.
Experts predict that Dogecoin could be worth $0.42 by the end of 2021.
Altcoins DOGE and SHIB price surged over the weekend, and the correlation between the two Shiba Inu-themed altcoins became evident.
Analysts bullish on DOGE and SHIB, further price rally likely
Two Shiba Inu-themed memecoins, Dogecoin and Shiba Inu coin, witnessed a surge in momentum over the weekend. Among top altcoins, DOGE and SHIB posted the highest gains, which explains traders’ bullish outlook.
Dogecoin is back in the spotlight after posting an 18.8% weekly surge in price. IntoTheBlock, a blockchain intelligence firm, uses the Global In/Out of the Money (GIOM) indicator to determine whether addresses that hold DOGE are profitable at the current price level. An address’s average cost is calculated based on the weighted average price at which it bought or received the amount of DOGE tokens that it currently holds.
According to GIOM, 66% of addresses currently holding DOGE in their wallets are profitable at the current price ($0.24) level. This is bullish for DOGE traders.
Dogecoin Global In/Out of Money
The increase in bullish sentiment among DOGE traders spilled over to SHIB, popular as “DOGE Killer.” SHIB price is up 21.3% in the last week. Currently, SHIB is nearly 80% away from its all-time high, but traders have a bullish outlook due to the increasing correlation between the two Shiba Inu-themed coins.
Ahead of the latest price rally in DOGE and SHIB, a panel of cryptocurrency experts predicted DOGE could be worth $0.42 (up 60% from the current price level) by the end of 2021. Finder, a price comparison website, surveyed the panel, and it polled a total of 42 experts on what they expect to see happen to DOGE prices in the future.
Forrest Przybysz, a senior cryptocurrency investment analyst at Token Metrics and a panel member, said,
I would expect DOGE to grow in tandem with the rest of the rapidly growing crypto market, though it will likely have long periods of flat price action followed by violent speculative pumps like we’ve seen in the past.
The crypto experts stated that they see Dogecoin hitting $1.21 by 2025 and $3.60 by 2030. The panel was starkly divided since experts like John Hawkins, senior lecturer at the University of Canberra, predicted that DOGE would be worth $0.15 by the end of 2021 and worthless by 2030. Hawkins stated,
Dogecoin seems largely dependent on Elon Musk’s erratic tweets.
Nevertheless, the average response of the panel members puts the DOGE price rally on the path to $0.42 before the end of 2021. Crypto influencers like Luke Martin, host of “The Coinist” podcast, recently tweeted about DOGE with a bullish sentiment:
Kraft Heinz Co. (NASDAQ:KHC) subsidiary Oscar Mayer’s Dogecoin (CRYPTO: DOGE)-themed hot dogs has sold for $15,000 in an auction on eBay Inc. (NASDAQ:EBAY).
What Happened: Oscar Mayer said on Twitter that a single pack of “Hot Doge Weiners” was sold for $15,001 and the auction has closed. According to the Guinness Book of World Records, the most expensive hot dog was previously sold for $169 in 2014.
The winner of the auction will receive the “one-of-a-kind,” 10-pack of hot dogs featuring the Shiba Inu image and the cash equivalent of 20,000 dogecoins – worth about $4,800 at the time of writing. A total of 76 bids were received in the auction, which was announced by Oscar Mayer last week.
Dogecoin’s acceptance as a payment option by companies has also gained momentum this year.
It was reported in July that Burger King Brazil is now accepting the meme cryptocurrency as a payment method for the purchase of Dogpper, a dog snack it recently introduced. The “Burger King” brand is owned by Restaurant Brands International Inc. (NYSE:QSR).
Price Action: Kraft Heinz shares closed 0.7% higher in Friday’s trading at $37.20.
Dogecoin is down 4.8% during the last 24 hours, trading at $0.2411 at press time.
Dogecoin (DOGE) and Shiba Inu (SHIB) saw the biggest gains over the weekend as market sentiment appears to have shifted in favor of bullish sentiment.
Following a weekend that finally saw Bitcoin climb well over $45,000. Altcoins DOGE and SHIB appear to have been the biggest benefactors of the market conditions over the weekend. Bitcoin rallied to a nearly three month high, touching $45,300 on Sunday.
The surge in bullish momentum spilled over to ethereum, which also saw a nearly three month high, hitting $3,195 on Sunday. The total market capitalization increased to $1.8 trillion as bullish buying saw a majority of the top 100 coins increase in value.
However, the most notable gainers over the weekend saw DOGE and SHIB both climb by double figures. At the time of writing, DOGE has jumped 16%, with SHIB also climbing over double figures, gaining 10.3% in price.
DOGE has had a tumultuous run since reaching its all-time high of $0.74 on May 8, 2021. However, following a drawn-out correction, a bounce was expected around the $0.15 support level as previously reported.
DOGE has seen a combined 43% gain since Friday. Climbing from $0.198 as it surged to Sunday’s high of $0.287. DOGE had previously bounced off of its resistance level at $0.16 on July 20.
SHIB follows its big brother
The correlation between DOGE and its baby brother coin, SHIB, was evident over the weekend as the meme token followed the price action of DOGE. SHIB also saw a surge in price since Friday. SHIB jumped from $0.00000613 from Friday, up to $0.00000888 on Sunday. Seeing a 45% gain, similar to that of DOGE.
The recent price action of DOGE finally has no influence from Tesla CEO Elon Musk. Musk had previously added a profile picture of himself on Twitter with the Dogecoin logo in his sunglasses. DOGE climbed 20% from Musk’s profile update. However, this time the project appears to be climbing without any assistance from the DOGE fan.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Here are important headlines that made their way from the cryptocurrency market.
At the beginning of this week, cryptocurrency prices struggled a little as the crypto market went into a period of consolidation. Despite the weak momentum, Bitcoin, the world’s most popular and the largest cryptocurrency by market cap, dipped at the US$40,000 mark and is trading around US$38,000, at the time of writing. The market cap, however, is stable at US$755 billion.
While Bitcoin is staggering to surpass the US$40,000 mark, its rival Ether is seeing a spike. At the time of writing, it is trading at US$2,633, up by more than 1.26%. Its market cap also rose above US$306 billion. But the trend for the rest of the cryptocurrency market is marked in red. XRP, Cardano, Stellar, Dogecoin, Chainlink, and Dogecoin declined by approximately 1.3% to 2.5%. Investors are not worried about this bullish trend as it was more or less expected by market experts. According to them, the next week is going to be indecisive for the cryptocurrency market, till it finds a neutral point.
A New Boost for Ether
Ether is the second-largest cryptocurrency as per the market cap and its blockchain network, Ethereum, is expected to undergo a big shift. Its upgrade called London has Ethereum Improvement Proposal (EIP) 1599 that aims at changing the way transactions fees or gas fees are calculated.
At present, users have to bid for the price they are willing to pay for their Ether transactions to be picked by a miner, which is a pricy matter. User the new upgrade, this process will be handled by an automated bidding system with a defined fee amount that fluctuates on the basis of how worked up the network is.
Another new aspect of this upgrade is that a part of every transaction fee will be removed from circulation which will reduce the supply of the crypto coin and hike its price. Hence, experts believe that EIP-1599 is one of the most significant upgrades to the Ethereum network since its launch. For investors, this implies that there will be a positive run for Ether in the short term and result in a big boost in the long term. It has the potential to improve the user experience, and leverage other innovations on Etherum’s network like DeFi apps and the proof-of-stake model.
Dogecoin price is being pressed down by the weight of the 50-day simple moving average (SMA).
DOGE may close today with the biggest gain since the July 21 breakout from the May descending trend line.
Oscar Mayer taps the Dogecoin fever with a limited edition pack of Hot Doge Wieners.
Dogecoin price action has been uneventful since the July 21 breakout, offering few clues about directional intentions. The lack of volatility has resulted in several doji candlestick patterns on the daily charts, signifying that DOGE speculators are uncertain and reluctant to accumulate the meme token despite the booming returns for Ethereum and Bitcoin. Thus, with no sustainable bid, Dogecoin is vulnerable to a break to the downside if the cryptocurrency complex is hit with selling pressure.
Dogecoin enthusiasts have the opportunity for a DOGE hot dog
Oscar Mayer, the famous brand for wieners, announced on August 4 that it has a “limited-edition pack of Hot Doge Wieners” with a cash value of 10,000 Dogecoins, which equates to around USD 2,050 at the current price. To amp up the interest, Oscar Mayer produced only one pack that was put up for bid on eBay at a starting bid of USD 0.99.
The public response was overwhelming, breaking the eBay link and pushing the bid up to $3,450 later in the day.
You guys really took this to the moonthe link is down but will be up soon!
Oscar Mayer is not the first consumer company to indulge the Dogecoin mania. In July, AXE created a limited supply of ‘Dogecans’ that were sold out immediately. Similarly, Slim Jim generated a significant jump in customer interactions after launching a dogecoin-focused marketing strategy earlier this year.
The excitement over the Hot Doge Wieners did not positively impact Dogecoin price as DOGE is up 0.90% for the week.
Dogecoin price needs a bigger catalyst
The disinterest, indecision or fear that has defined Dogecoin price action over the last 17 days has compressed the Bollinger Bands to the tightest range since the period preceding the explosive April rally. It does not predict a continuation of the doddering DOGE rally, but it does hint of a substantial move shortly.
Adding to the limited volatility is the ongoing convergence of the 50-day SMA at $0.217 with the 200-day SMA at $0.197, thereby establishing pivot prices for future DOGE investment decisions.
A daily close below the intersection of the 200-day SMA at $0.197 with the May 19 low of $0.195 would be the first confirmation of a bearish resolution from the trendless Dogecoin price action. It would immediately position DOGE for a quick drop to the July 20 low of $0.159 and potentially the June 22 low of $0.152. If Dogecoin price does not attract a bid at the June 22 low, the altcoin will drop to the April 23 low of $0.135, logging a 30% decline from the May 19 low.
DOGE/USD daily chart
Alternatively, if Dogecoin price claims the 50-day SMA at $0.217 on a daily closing basis, it would project a bullish DOGE narrative that will include a test of the June 25 high of $0.291, representing a 34% profit for timely speculators. The only resistance of importance before the June 25 high is the July 26 high of $0.242.
A bullish cryptocurrency complex and a new Oscar Mayer market strategy built around Dogecoin has not unlocked Dogecoin price from the trendless action that has dominated since July 22. The passive trading has the technicals pointing to lower prices, but for now, patience is the only investment tactic that will work with DOGE.
Here, FXStreet’s analysts evaluate where DOGE could be heading next as it seems bound to retrace before rising.
Dogecoin price is grappling with the $0.213 crucial resistance level.
A breach of this barrier might lead to a 20% upswing to $0.255.
However, if DOGE bulls fail to defend $0.168, it will invalidate the bullish thesis.
Dogecoin price is currently tussling with a vital resistance level, a breach of which will open the path for more gains. However, the upside seems to be limited due to the presence of a massive supply zone.
Dogecoin price contemplates a breakout
Dogecoin price has set up three lower highs since June 25, indicating a waning bullish momentum. Drawing a trend line along these swing points shows a declining resistance level that DOGE is currently tagging.
Interestingly, the resistance level at $0.213 coincides with the supply barrier mentioned above. Therefore, a decisive 9-hour candlestick close above this confluence will signal the presence of bulls and open up the path for further upside.
However, investors should note that Dogecoin price is likely to rally 20% to tag the supply zone’ ranging from $0.255 to $0.290.
In some cases, this upswing might retest the $0.273 resistance level, which would constitute a 30% rally from $0.213.
DOGE/USDT 9-hour chart
Conversely, if DOGE bulls fail to push through the declining trend line and the horizontal resistance level at $0.213, a retracement will likely ensue.
The support barriers at $0.187 and $0.182 are the most likely candidates that might end the correction. However, if the selling pressure persists, Dogecoin price will tag $0.168.
While a reversal from this area is likely, market participants should note that a breakdown of the said demand barrier will invalidate the upswing and potentially trigger a downswing to $0.157.
“Dogecoin Millionaire Review”- Is Dogecoin Millionaire App legit? Is Dogecoin Millionaire Trading Scam? – The Dogecoin network has grown to become one of the most vital and influential cryptocurrencies in existence. Dogecoin market developsintention to help bring other people into this incredible game. Investorshope to produce more consistent returns alongside the community growth through targeted investment offerings, public outreach, and trading/trading tips.
Dogecoin is more than a cryptocurrency. It’s an internet phenomenon, and it shares many similarities with its more famous cousin, Bitcoin. Like Bitcoin, Dogecoin is traded online and used to purchase various goods and services. Dogecoin Millionaire also intends to utilize our established relationships within the cryptocurrency space to provide additional value to investors sleeping under bridges somewhere.
Dogecoin was created in December 2011 as an alternative to Bitcoin. At its inception, Dogecoin was simply a joke: a Dogecoin pro bono wallet containing a few thousand coins selected from among dozens of different versions of the currency created by anonymous programmers. Since then, Dogecoin has become well-known in the cryptocurrency community and traded at numerous price points leading up to its November 2012 launch as an investment commodity.
Dogecoin is unique in that it is both a digital currency and a gambling game. As the value of Dogecoin has grown, so has the interest in purchasing stakes in the managed Dogecoin Investment Pool. These stakes can then be exchanged for cash or other investments at any time.
The Dogecoin Team has created a method of investing in Dogecoin without any risk involved. Anyone can come on the team and increase their Dogecoin investment by donating funds wherever they are. Simply contribute to the Dogecoin team. They will distribute the donated Dogecoin among their active allies in the community without asking anyone else.
Similar to bitcoin
Dogecoin is a cryptocurrency with a similar purpose to Bitcoin: it is used to purchase certain goods and services on the websites of the Dogecoin exchange. Many cryptocurrency users have found Dogecoin particularly attractive because of its community-based approach to development. As a result, Dogecoin has seen steady growth in value since its launch on January 20, 2014. Due to its low processing fees and easy method of purchasing cryptocurrency, Dogecoin has found itself squarely in the upper rungs of cryptocurrency rankings.
Well, it is similar to Bitcoin, with a 1/10th the price. As of writing this, Dogecoin is trading at $6.67, having topped the charts at over USD 70 late yesterday. This makes Dogecoin one of the most valuable cryptocurrencies in existence and one of the easiest to acquire.
If you haven’t heard of Dogecoin yet, then you might be unaware that an Internet meme inspired it; the ShibaInu. In late 2013, one Redditor assembled a community of followers by gives away 100 Dogecoins to anyone who contributes a tip over $5 to their Reddit account.
There are three different types of Dogecoin. The premise is what people get for investing in the coin before it officially launches. The halving takes place every 28 days and halves the premise amount every year until 50%. The network also gets a new block every 8 minutes instead of 12 hours like Bitcoin. This means that a Dogecoin investment that sat in your wallet for days might suddenly be worth $10,000 on an exchange when the network releases.
It all started when one user decided to distribute 130,000 Dogecoins among four random people on the internet. Soon after, the creator realized he could make money even more efficiently by selling the coins online. And that’s where the Dogecoin Millionaire App comes in.
Anyone can download this free mobile application and within a few clicks earn 100,000 Dogecoins, which they can put toward any product on the market or donate to a charity if they like.The platform has been built with a minimal marketing budget. It has grown organically by community vote and word of mouth. If you enjoy playing games and earning free money, then this is your chance to get involved.
What is Dogecoin Millionaire app?
Dogecoin is rising fast and everyone wants their piece. The coin was created in April 2012 by cool guy Jackson Palmer as an experiment in open-source cryptocurrency. It’smarket cap of over $150 million as of February 2014. The Dogecoin community has grown rapidly over the last twelve months.
Much of the early investment was made by individuals on Reddit and other online communities. Still, now the market has expanded beyond that, and many high-profile investors are jumping into Dogecoin. Millionaire offers one of the best ways to make money with Dogecoin – download the app and follow the simple steps.
How Do I Sign Up For The Dogecoin Millionaire App?
JOIN THE SITE TO REGISTER
Create a free trading account by filling out the form at the top of the official page. The procedure takes five minutes. It treats all user data with the utmost care.
After you sign up, it will direct you to the partner broker’s page to deposit funds into your trading account. Reputable, well-regulated brokers manage all money transfers.
You can go about your everyday business while the trading process operates in the background for you. A $250 deposit is all that is required to begin your journey to becoming a prosperous crypto trader.
Are you searching for increment in your income? Dogecoin is a cryptocurrency that utilizes the Dogecoin network to allow for Dogecoin Millionaires to earn free money.
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You can install it within seconds on your PC or smart mobile devices.
Dogecoin Millionaire is Secure Transactions using blockchain technology to deliver a 98.9% success rate for its investors.With Dogecoin, creating a cash deposit is as easy as oneclick – placing an order on an online marketplace and then waiting for your Dogecoin to arrive at your bank account.
Dogecoin is the hottest new crypto-currency, and as of today, there are over 120 million Dogecoin in circulation. This makes Dogecoin ideal for fast, easy, and secure cash deposits.
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It is a fully automated app with the best performance. It instantly scans all exchanges with Zero risks.
Trading Procedure for Dogecoin Millionaires
From trading platforms to security measures, every detail is discussed openly so that users could even participate in the forum for trading. Various concerns about the platform’s performance have been raised over time. Users reported multiple issues while continuing to work with the platform, ranging from vague purchases to changes in the information or valuation of the Dogecoins.
Technical flaws are most likely to blame for the problems encountered by users. Its functionality is already designed to provide easy navigation and functionality.
Furthermore, the platform’s utmost transparency has piqued the interest of millions of people on the site. It has high transparency for transactions, billing information, and other site-related components. People who are new to the site can easily access the details provided on the system’s page and learn about the entire trading process.
Why is the Dogecoin millionaire app beneficial for investors?
We are going to show you exactly how easy it is to earn money through Dogecoin by mining. We will also show you how easy it is to use cryptocurrency as a method of exchange and how it is increasing in popularity. There are few reasons why this platform is worth mentioning:
It’s being used as a means to buy products and services in small amounts, instantly and for free.
Purchasing Dogecoin with other cryptocurrencies has been made possible as well
Dogecoin is helping thousands of new users to get into cryptocurrency.
It was initially created as an alternative to Bitcoin, but after several controversial changes, including expanding the block number to 32 megabytes and removing the 10 percent fee that Bitcoin charges. The original Dogecoin price was around $1.40 at launch, but it has grown to over $3,000 per coin. It’s more popular than Amazon.com stock in some countries and less famous than Microsoft’s stock.
Dogecoinis popular on social media
Dogecoin is a fun, unique coin that makes everyone smile. It’s not tied down to any exchange and doesn’t require any special knowledge or knowledge about cryptocurrency. Dogecoin allows anybody to earn Dogecoin by sharing links or images of their favorite ShibaInu with the tag #DogecoinMansion on Twitter, Facebook, or any other social network.
People who have discovered the Dogecoin Mansion have become famous on Reddit, with over 65,000 subscribers flocking to their page searching for tips and tricks. As a result of inflow of new members, Dogecoin has increased by over 1500 percent in last 24 hours alone!
Dogecoin is the second most popular cryptocurrency, and it’s experiencing a surge in popularity as one of the best ways to buy things online anonymously. Using Dogecoin enables you to purchase many rare and expensive items for small amounts of Bitcoin. Well, making it especially useful in anonymous transactions involving drugs, guns, or stolen credit card numbers. Dogecoin, Jackson Palmer, received over 12 million Dogecoins from donations through the ShibaInuDogecoinmultipool. Dogecoin began as a joke but soon became popular among its users and traders
Is Dogecoin Millionaire a good investment for me?
Are yousearching for a safe cryptocurrency? Then Dogecoin Millionaire buying and selling is only for you.
Is Dogecoin Millionairea fake or scam?
No,Dogecoin Millionaire is not a scam.It is fastest growing cryptocurreny right now. It’s also one of the most controversial. The market cap has increased by nearly 300%, and the price has gone up by almost 400%. Due to the sudden increase in value and popularity, many people have been asking – Is this actually a scam? To answer this question,it is no.
Best Verification system
Dogecoin is the first cryptocurrency to reach one million dollars with an authentic verification system. Despite its wild price increase, it is still considered an investment, suitable only for experienced users.Furthermore, the dealer must provide their cost information.
Frequently asked questions (FAQS)
Is it similar to MLM or cryptocurrency investing?
This is not the same as MLM, Crypto Trading, or anything else available. Based on proven schemes used by large banks, the software generates profits with 97 percent accuracy.
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Earnings with Dogecoin Millionaire are limitless. Some members earned their first million dollars in as little as 61 days.
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Really nothing, Members of Dogecoin Millionaire receive a free copy of our open-source software. Obviously, fill in the form to become a participant.
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There are no additional fees, broker fees, or commissions. Well, cash isultimately yours and withdraw it easily whenever you want.
Final words for useful money app
Dogecoin, the cryptocurrency of the internet, is making a run for its money. The meme-based cryptocurrency has experienced a surge in popularity this week, rising from $1 billion to over $2 billion in a matter of days. Despite this windfall, Dogecoin’s market cap remains small – less than $1 billion.
Well, for downloading the app of Dogecoin Millionaire review,enter the app. The free download offers instant wallet access for all Dogecoin wallets. It allows users to exchange Dogecoin for various popular cryptocurrencies.During the past 24 hours, the Dogecoin trading platform has processed more than 850,000 transactions, bringing the trading platform’s value up by more than 400%.
As a result, Dogecoin has surpassed $1 million in market cap and is now ranked 16th among cryptocurrencies by market cap. The platform is available in more than 40 countries and is supported by more than 100 primary exchanges and 40 regional trade groups.