After a series of enormously large buying and selling transactions, DOGECOIN rebirths in terms of value and transaction. Forecasters believe that some things are about to happen. They are forecasting a return of 500% by the end of the year 2024. Robin Hood Markets Inc. announces that its new cash card may invest in Ethereum, Bitcoin, and DOGE, sources revealed.
Moreover, there was news circulating in the market that EBay Inc. will be accepting similar cryptocurrencies for making payments.
In the month of May 2021, Hello Pal International Inc., the renowned live featuring social media podium made history. It became the first company that got listed and focused on DOGE mining. The reaction to the statement was rapid. Moreover, causes a flow of traffic so substantial that it leads to website disruption.
Furthermore, Hello Pal is now all set to expand its business operations and enter a new market. They are building their efficiency to support cross-border payments which are becoming now relevant. Considering shifts, users are now taking part in a mining process of both Litecoin and Dogecoin either by owing wholly or partly excavating rigs.
If we look into the recent quarter, then these two excavation rigs are proving productive enough for revenue generation.
The company Robin Hood Markets Inc. makes a post-announcement and said that now consumers have a way to invest in themselves. The company is going to give their consumers a weekly bonus of 10-100%. Moreover, they have full power to change it to the nearest dollar and invest it back into their choice of assets. The main agenda of this particular step was to show support to our customers thereby building their investment goals.
Technical View
On the weekly chart, Dogecoin is in a falling wedge pattern on the chart. Dogecoin is trading in a range with negative bias and took support from the lower band. Dogecoin is taking a hurdle of 20 weeks moving average which is at 0.1500 respectively. Three consecutive closes + weekly closes above 0.1500 will take Dogecoin to test the resistance level of 0.2400 in days to come. If breaks 0.1500 then maintain a stop loss of 0.1200 on a closing basis.