The Dogecoin Foundation adds another bag because DOGE can’t afford to support it

  • The Dogecoin ecosystem has received five million DOGE in an effort to improve the project.
  • DOGE increased for a while, but it may not last.

Dogecoin [DOGE] The Foundation gave its community a gift at the end of the year more dangerous $5 million from DOGE for the Ecosystem Development Fund. Post December 31, the foundation indicated that the grant was necessary to strengthen the ecosystem.

how many Dogs you’ll get for $1?

However, the team made it clear that the developers and others who did their part in moving DOGE to where they would have received a share of the fund. The blog post reads,

“The DOGE in the new multi-signature wallet will reward Dogecoin Core developers for working on all contributions, no matter how big or small. This new multi-signature wallet will be powered by Dogecoin Core developers and members of the Dogecoin Foundation.”

You can not strengthen in the lists

DOGE chose one Rapid increase in aagainst the background of evolution. According to price tracking platform CoinMarketCap, the meme coin has gained 2.42% in the last 24 hours.

Indicators from the daily chart showed that DOGE has been unable to maintain its resistance since December 5th. The resistance fell further from $0.11 to $0.07 on Dec 21st.

Although DOGE recovered briefly, he turned to losing support. At the time of writing, the support area is at $0.067. Moreover, the Moving Average Convergence Divergence (MACD) revealed that DOGE may not be able to sustain the recent price increase.

Based on the MACD signal, the momentum has been bearish. This conclusion was because the difference between the 12 and 26 exponential moving average (EMA), as indicated by the MACD, was lower than the histogram.

In addition, monitoring of sales (orange) exceeded purchasing power (blue). Therefore, the short-term movement of DOGE may end with a decline below the price at the time of writing.

Source: TradingView

31.03 times high on the cards If DOGE reaches the Bitcoin market cap?

DOGE volatility decreases as titles follow

Data on the series from feelings Show that DOGE is unlikely to experience high price volatility. The price volatility in one day was at the lowest level. However, 24-hour active addresses mean slow response from the community regarding transactions.

At the time of writing, the total number of active addresses over a 24-hour period is 120,000, underlining relatively low audience engagement.

Dogecoin price volatility and active addresses

Source: TradingView

Finally, the Dogecoin Foundation pointed out that the custodians of the wallets held by the fund do not have rights to distribute without consent. He Said,

“The trustees have no rights to the funds in the wallet, individually or as a group. All distributions must be widely publicized and distributed via social media channels to the best of the trustees’ ability.”

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