Financial expert and wealth management expert, Michael Jade, has seen that Dogecoins [DOGE] The current market is an obstacle to the revival of the bull market. According to him, the $7 billion market capitalization of the meme cryptocurrency should not exist in a bear market condition.
Dogecoin’s current market capitalization is still over $7 billion.
This shit isn’t over yet.
– Michael A. Jade, Chartered Financial Analyst (leadlagreport) September 22 2022
At press time, DOGE’s market capitalization is up by nearly $8 billion. With a good opinion, this current situation may mean that it may take longer for the bulls to return to control.
So, what is the topic of DOGE?
For DOGE, Good Faith can only be dismissive, especially since he recently passed Polkadot [DOT] in market value. Although DOGE has lost just over 2% over the past seven days, DOGE’s price appears to be interested in a rally. According to CoinMarketCap, DOGE was valued at $0.05944 at press time, up 0.89% over the past 24 hours.
Moreover, its volume does not seem ready to take the plunge to confirm a bear market. Santiment, the on-chain crypto platform, open DOGE’s volume increased from 254.31 million on September 21. At the time of writing, it is 403.47 million.
In other respects, the thirty-day DOGE Realized Value (MVRV) market volume was -5.378%. This means that if the “real” bear market appears, the MVRV will only get worse. This is because MVRV can help indicate the bottom signal.
In terms of its circulation and active titles, it has remained steady. feelings too show up That 24 hour active headlines increased to $125,890, and amounted to $1.21 billion for one day trading.
block on block
Furthermore, DOGE was unfazed by the comments as they continued to mine new blocks. According to DogeCoin explorer, DogChain4,400,927 plots of land have now been mined. This was done with a network difficulty of 8604272.
Also, the indicators from the charts were in preparation that DOGE’s market value may not drop any time soon. According to Jaid’s tweet, the bear market may be in for a long time. Based on Moving Average Convergence Divergence (MACD), the current momentum of DOGE is positive.
The MACD showed that the buyers were in control. This dominance helped the strength of the 12 and 26 exponential moving averages (EMA) to stay in the positive areas. On the other hand, the wonderful oscillator (AO) indicated a neutral stock. Although there were more greens, AO favored short-term buying momentum.