{"id":599508,"date":"2024-03-25T14:00:20","date_gmt":"2024-03-25T14:00:20","guid":{"rendered":"https:\/\/wncen.com\/?p=599508"},"modified":"2024-06-11T14:41:29","modified_gmt":"2024-06-11T14:41:29","slug":"social-media-storm-gives-dogecoin-14-price-boost-details","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/social-media-storm-gives-dogecoin-14-price-boost-details\/","title":{"rendered":"Social Media Storm Gives Dogecoin 14% Price Boost &#8211; Details"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:332\">Dogecoin (DOGE), the meme-inspired cryptocurrency, has experienced a rollercoaster ride in recent days. A surge in social media activity surrounding the coin coincided with a price increase of over 14% within the last week. However, technical indicators hint at a potential pullback, leaving investors to grapple with mixed signals.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/analyst-bullish-on-polkadot-dot-predicts-17-price-target-for-march\/\" target=\"_blank\" rel=\"noopener \">Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April<\/a><\/div>\n<h2 data-sourcepos=\"5:1-5:38\"><strong>Social Media Frenzy Fuels Optimism<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:379\"><a href=\"https:\/\/lunarcrush.com\/categories\/cryptocurrencies?metric=alt_rank&amp;filter=meme&amp;cols=alt_rank%2Cinteractions_24h%2Cclose%2Cpercent_change_24h%2Caverage_sentiment%2Ctop_influencers%2Cmarket_cap%2Cvolume_24h%2Clast_7_days&amp;rpp=20\" target=\"_blank\" rel=\"noopener nofollow\">Data from LunarCrush,<\/a> a crypto analytics platform, revealed a significant uptick in social media interactions related to<a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\"> DOGE<\/a>. Likes, comments, retweets, and upvotes on various platforms reached a staggering 30 million within a 24-hour period. This surge in social volume not only placed DOGE at the forefront of meme coin discussions but also suggests renewed investor interest.<\/p>\n<p data-sourcepos=\"7:1-7:379\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-599519\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?resize=1024%2C283\" alt=\"\" width=\"1024\" height=\"283\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=1452 1452w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_1d8be2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<h2 data-sourcepos=\"9:1-9:67\"><strong>Regulatory Integration Paves The Way For Institutional Adoption<\/strong><\/h2>\n<p data-sourcepos=\"11:1-11:410\">Adding fuel to the fire, Coinbase Derivatives recently filed with the CFTC to introduce US-regulated futures contracts for <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">DOGE,<\/a> alongside Litecoin and Bitcoin Cash. This regulatory move signifies a growing acceptance of established cryptocurrencies beyond the realm of traditional financial institutions. Integration with established players could lead to greater market stability and wider adoption for DOGE.<\/p>\n<h3 data-sourcepos=\"13:1-13:53\"><strong>April: Historically A Bullish Month For Dogecoin?<\/strong><\/h3>\n<p data-sourcepos=\"15:1-15:395\">The report also highlights a historical trend \u2013 April has proven to be a particularly strong month for DOGE in previous years. This historical data injects a dose of optimism into the current scenario, hinting at a potential price upswing in the coming weeks. However, past performance doesn&#8217;t guarantee future results, and investors should be cautious about relying solely on historical trends.<\/p>\n<p data-sourcepos=\"15:1-15:395\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/D2u5R3fD\/\" width=\"1835\" height=\"883\"><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"17:1-17:38\">Total crypto market cap is currently at $2.472 trillion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<h3 data-sourcepos=\"17:1-17:38\"><strong>Technical Indicators Flash Caution<\/strong><\/h3>\n<p data-sourcepos=\"19:1-19:374\">Despite the positive social media sentiment and historical precedent, technical indicators paint a somewhat contrasting picture. The Aroon Up Line, an indicator that gauges trend strength, suggests a weakening uptrend for DOGE. Additionally, the Chaikin Money Flow (CMF) \u2013 a measure of money flow \u2013 currently displays a negative value, indicating potential selling pressure.<\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"19:1-19:374\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-599521\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_370de0.png?resize=643%2C384\" alt=\"\" width=\"643\" height=\"384\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_370de0.png?w=643 643w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_370de0.png?w=460 460w\" sizes=\"(max-width: 643px) 100vw, 643px\">DOGE seven-day price action. Source:<a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\" target=\"_blank\" rel=\"noopener nofollow\"> Coingecko<\/a><\/pre>\n<h3 data-sourcepos=\"21:1-21:47\"><strong>Dogecoin Bearish Signals\u00a0<\/strong><\/h3>\n<p data-sourcepos=\"23:1-23:450\">The Moving Average Convergence Divergence (MACD) indicator, often used to identify trend changes, further reinforces the bearish sentiment. Readings show the MACD line crossing below the signal line in mid-March, potentially marking the beginning of a short-term downtrend.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/fantom-ftm-bull-run-can-ftm-hit-2-after-20-price-spike\/\" target=\"_blank\" rel=\"noopener \"> Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike?<\/a><\/div>\n<p data-sourcepos=\"23:1-23:450\">Lastly, the Parabolic SAR indicator, which identifies potential trend reversals, positions its dotted lines above the current DOGE price, suggesting increased selling activity.<\/p>\n<h3 data-sourcepos=\"25:1-25:35\"><strong>Navigating The Uncertain Waters<\/strong><\/h3>\n<p data-sourcepos=\"27:1-27:396\">The current situation surrounding DOGE presents a complex scenario with both positive and negative factors at play. While social media buzz and regulatory progress offer reasons for optimism, technical indicators warn of a potential short-term price correction.<\/p>\n<p data-sourcepos=\"35:1-35:373\"><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE), the meme-inspired cryptocurrency, has experienced a rollercoaster ride in recent days. A surge in social media activity surrounding the coin coincided with a price increase of over 14% within the last week. However, technical indicators hint at a potential pullback, leaving investors to grapple with mixed signals. Related Reading: Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April Social Media Frenzy Fuels Optimism Data from LunarCrush, a crypto analytics platform, revealed a significant uptick in social media interactions related to DOGE. Likes, comments, retweets, and upvotes on various platforms reached a staggering 30 million within a 24-hour period. This surge in social volume not only placed DOGE at the forefront of meme coin discussions but also suggests renewed investor interest. Regulatory Integration Paves The Way For Institutional Adoption Adding fuel to the fire, Coinbase Derivatives recently filed with the CFTC to introduce US-regulated futures contracts for DOGE, alongside Litecoin and Bitcoin Cash. This regulatory move signifies a growing acceptance of established cryptocurrencies beyond the realm of traditional financial institutions. Integration with established players could lead to greater market stability and wider adoption for DOGE. April: Historically A Bullish Month For Dogecoin? The report also highlights a historical trend \u2013 April has proven to be a particularly strong month for DOGE in previous years. This historical data injects a dose of optimism into the current scenario, hinting at a potential price upswing in the coming weeks. However, past performance doesn&#8217;t guarantee future results, and investors should be cautious about relying solely on historical trends. Total crypto market cap is currently at $2.472 trillion. Chart: TradingView Technical Indicators Flash Caution Despite the positive social media sentiment and historical precedent, technical indicators paint a somewhat contrasting picture. The Aroon Up Line, an indicator that gauges trend strength, suggests a weakening uptrend for DOGE. Additionally, the Chaikin Money Flow (CMF) \u2013 a measure of money flow \u2013 currently displays a negative value, indicating potential selling pressure. DOGE seven-day price action. Source: Coingecko Dogecoin Bearish Signals\u00a0 The Moving Average Convergence Divergence (MACD) indicator, often used to identify trend changes, further reinforces the bearish sentiment. Readings show the MACD line crossing below the signal line in mid-March, potentially marking the beginning of a short-term downtrend. Related Reading: Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike? Lastly, the Parabolic SAR indicator, which identifies potential trend reversals, positions its dotted lines above the current DOGE price, suggesting increased selling activity. Navigating The Uncertain Waters The current situation surrounding DOGE presents a complex scenario with both positive and negative factors at play. While social media buzz and regulatory progress offer reasons for optimism, technical indicators warn of a potential short-term price correction. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":599540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[134,1785,7,4735,3505,3901],"class_list":["post-599508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-doge","tag-dogecoin","tag-price-action","tag-price-analysis","tag-social-media"],"acf":[],"yoast_head":"\n<title>Social Media Storm Gives Dogecoin 14% Price Boost - Details<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE), the meme-inspired cryptocurrency, has experienced a rollercoaster ride in recent days. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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