Dogecoin

Bitcoin, Axie Infinity and Dogecoin – European Wrap 10 August

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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. 

BTC/USDT 12-hour chart

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.

 

AXS/USDT 12-hour chart

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. 

 

DOGE USDT

 

 

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Dogecoin

AMC Accepting Bitcoin? What to Know About the News Lifting AMC Stock

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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.

Neon sign of an AMC (AMC) theater

Source: rblfmr / Shutterstock.com

So what do you need to know?

Importantly, this was a key call for AMC Entertainment. The company posted estimate-beating revenue, as well as  narrower-than-expected losses per share. Even more important, the company directly engaged with shareholders ahead of the event, soliciting retail investor questions.

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).

Read more about AMC stock and its second-quarter report here.

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.



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Dogecoin

Dogecoin and Shiba Inu are on the rise and experts predict bigger gains by the end of 2021

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  • 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 GIOM

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: 

 

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Dogecoin

Dogecoin-Themed Pack Of Hot Dogs From Oscar Mayer Fetches $15,000 In Auction – eBay (EBAY), The Kraft Heinz Company (KHC)

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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.

See also: How To Buy Dogecoin (DOGE)

All proceeds from the sale will go to the hunger relief organization Feeding America as part of eBay’s Auctions for Charity.

Why It Matters: Oscar Mayer is the latest company to ride the dogecoin hype.

Consumer packaged goods company Conagra Brands Inc. (NYSE:CAG) and candy bar Snickers have used the joke cryptocurrency for marketing purposes earlier this year.

See Also: This Reddit-Based Cryptocurrency Is Outpacing Dogecoin Gains Over Past Month

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.

Read Next: Ethereum, Bitcoin, Dogecoin Turn Red As Weekend Rally Simmers Down

Photo: Courtesy of Oscar Myer



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Dogecoin

DOGE and SHIB See Biggest Gains in Top 100 Over Weekend

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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. 

Source: CoinGecko

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. 

Source: Tradingview

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. 

Source: Tradingview

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. 

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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.

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Dogecoin

Business News | Stock and Share Market News

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The market will first welcome the IPOs of CarTrade Tech and Nuvoco Vistas Corporation on August 9. Chemplast Sanmar and Aptus Value Housing Finance public issues will open on August 10.


IPOs galore on Dalal Street: 4 companies to float shares this week




Name Price Change % Chg
Sbi 435.65 -6.20 -1.4
Indiabulls Hsg 271.10 0.85 0.31
Ntpc 117.65 1.15 0.99
Rec 156.45 1.35 0.87

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