Dogecoin (DOGE) continues to face bearish pressure, but its price action remains more resilient than fellow meme coin Shiba Inu (SHIB), offering traders a potential reason for cautious optimism. While DOGE has been trending lower for several months, the decline has been steadier and less aggressive than SHIBs, suggesting that selling momentum may be gradually weakening.
Dogecoin has not seen a short squeeze beyond $0.08 yet, but this possibility remains viable.
Dogecoin tests decade-long support near $0.07 as improving momentum raises hopes for a rebound toward key resistance levels ahead.
Dogecoin (CRYPTO: DOGE) has closed below its 20-day moving average for a record 65 straight sessions, prompting veteran Wall Street investor Jordi Visser to argue that retail investors have yet to return to the crypto market. What The 65-Day Record Actually Means Visser tracks the Crypto Financial Rails 40 Equal-Weight Index, a 40-name basket of crypto assets tied to financial infrastructure, and noted on X that the index closed above its mid-June highs on July 21 while Bitcoin (CRYPTO: BTC) closed just below that same level.
Dogecoin holds crucial $0.071 support as bullish divergence points toward potential recovery targets at $0.0865 and $0.105.
Dogecoin is currently positioned around the $0.0734 price level on Tuesday as digital asset markets experience a modest rebound. The popular meme cryptocurrency appears to be finding some stability, despite continuing to trade within technically bearish parameters.
Billy Markus, co-founder of Dogecoin, described the possibility of removing merge mining from the cryptocurrency's protocol as “stupid and pointless.” Markus, who identifies himself on X as “Shibetoshi Nakamoto,” expressed his position during an exchange within the DOGE community, where the debate over merge mining has been generating divided opinions.
Amid the ongoing merge mining debate in the Dogecoin community, co-founder Billy Markus offers a non-partisan take on the subject. Merge mining, or Auxiliary Proof of Work (AuxPoW), allows users to mine two or more coins, including Dogecoin, with the same hashpower and proof-of-work without splitting.
Dogecoin's accumulation score hits 100 as momentum improves, raising the chance of a breakout toward $0.65 and beyond.
The popular meme cryptocurrency Dogecoin continues to maintain its position above the crucial $0.070 support threshold as renewed whale accumulation and expanding derivatives market activity draw attention to the digital asset. Trading data from Monday showed DOGE changing hands at $0.07212, representing a 1.07% decline during the most recent four-hour trading period.
Dogecoin price has held near $0.073 after whales accumulated 200 million DOGE and futures open interest climbed 3.74% to $1.08 billion. CoinGlass's three-day liquidation heatmap shows DOGE trading between large leveraged-position clusters near $0.074 and $0.
Dogecoin co-founder Billy Markus rejected claims that merged mining creates a dangerous Litecoin dependency, telling critics to revisit Satoshi Nakamoto's Bitcoin white paper. Developer Paulo Vidal questioned Dogecoin's security if Litecoin stopped, miner incentives, and whether Auxiliary Proof of Work remains the appropriate long-term arrangement.