Dogecoin Set for Bullish Breakout as Price Nears Resistance
The price of the Dogecoin currency is at an inflection point with technical analysis showing to a potential bullish breakout.
When the entire market was sighing, Bitcoin and Ethereum, Billy Markus had other ideas. With a desire to turn down the situation he joined hands with Jackson Palmer and gave birth to a new digital asset, Dogecoin (DOGE). It useed the face of the Shiba Inu dog named Kabosu as its logo.
It was December 2013; the first DOGE coin was introduced to the world. Dogecoin was considered an ‘inflationary coin’ while Bitcoin was considered a ‘deflationary coin’. To the surprise, the first meme coin DOGE went viral for its unique perspective. It can be traded through crypto exchanges like any other virtual currency.
Dogecoin has a huge online community and was created using the open-source code from Litecoin. It is one of the widely accepted crypto currencies among merchants as it is a fork of Bitcoin.
Since it is a memecoin, it is subject to high fluctuations and often experiences significant volatility with market narratives. To get a 360-degree view of the DOGE’s performance every day, read from CryptoTale.
The price of the Dogecoin currency is at an inflection point with technical analysis showing to a potential bullish breakout.
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