Dogecoin Green Despite Fed Headwinds: Why Voyager’s Bankruptcy Is A Message For Shibes

July 7, 2022 Scryptopia Dogecoin 0

Dogecoin DOGE/USD traded 2.7% higher at $0.07 over 24 hours in the early hours of Thursday.

The meme coin was higher along with other major coins even as the global cryptocurrency market cap fell 4.3% to $865.7 billion at press time.










Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour 2.72%
24-hour against Bitcoin 0.9%
24-hour against Ethereum -1.3%
7-day 9.2%
30-day -13%

YTD performance

 -60.5%

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The DOGE Factors

  • DOGE was among the most-discussed coins on Twitter at press time, according to Cointrendz. The three most-discussed coins were Bitcoin, Ethereum, and Solana.

  • Dogecoin’s 24-hour trading volume rose 2.86% to $401.1 million at press time, according to CoinMarketCap

  • Coinglass data showed that $375,050 worth of DOGE were liquidated over 24 hours as the price of the meme coin rose

  • DOGE’s relative strength index stood at 48.8 at press time, according to TradingView. An RSI of under 30 suggests an asset is oversold, and when the metric is above 70, the asset is overbought.

Consolidation Despite Hawkish Fed

Bitcoin consolidated around the $21,000 mark on Wednesday after the U.S. Federal Reserve released its June monetary policy meeting minutes, which underlined the central bank’s hawkish stance. Other coins, including DOGE, were in the green on an intraday basis after the minutes were made public.

DOGE On The Web

In the wake of cryptocurrency lending platform Voyager Digital LLC VYGVF declaring bankruptcy. DOGE-oriented Twitter handle Mishaboar warned Dogecoin holders that no market maker, exchange or brokerage service was “too big to fail.”

News that Tesla Inc TSLA-founder Elon Musk’s Boring Co will accept DOGE was noted by DOGE-related handles on Twitter.

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