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Dog-themed cryptocurrency Dogecoin (DOGE) continues to expand its exposure with new exchange listings.
In the most recent example, FleetbayThe Indian cryptocurrency exchange announced that DOGE deposits and withdrawals are now available on its platform.
As reported, Binance, the largest cryptocurrency exchange, announced the listing of a DOGE perpetual contract with USDC margin that allows users to trade with up to 75x leverage.
according to IntoTheBlockDogecoin achieved multiple milestones in December, including five million addresses with balances and a significant increase in transactions.
This surge in activity originally caused prices to rise. However, the recent price decline suggests that just over half of Dogecoin holders (54%) are now profitable, a level not seen since early November 2023.
DOGE is now the 10th largest cryptocurrency by market cap, worth over $11.41 billion, trading for $0.08 per coin.
Dogecoin price movement
Dogecoin has been trading near $0.08 for the past few days, but the bears were unable to bring the price down to $0.07. It is worth noting that the price of Dogecoin has been consolidating in a range since the beginning of the year.
On the other hand, if Dogecoin price breaks the 50 daily moving average at $0.089, it will indicate that the bears are losing control. Buyers will then try to push the price of Dogecoin to the next upper barrier from $0.10 to $0.11.
At the beginning of the week, cryptocurrency analyst Ali predicted that as long as the support group at $0.074 holds, DOGE could rebound to $0.100 or higher.
About the author
Tomiwabold Olajide
