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Information about Dogecoin (DOGE)
Dogecoin (DOGE) is an open-source, peer-to-peer cryptocurrency with a Shiba Inu dog logo. After being born in 2013, Dogecoin quickly grew with its community and reached a breakeven of $60 million in January 2014.
Billy Markus, a software developer at IBM who wanted to create a digital currency but was struggling, discovered Dogecoin and contacted Palmer to build software behind Dogecoin. Jackson Palmer and Billy Markus launched the coin on December 6, 2013. Just two weeks later, on December 19, the value of Dogecoin increased by 300%.
Markus built Dogecoin on top of Luckycoin, derived from Litecoin and used initially as a random reward for block mining. Dogecoin uses Litecoin’s encryption technology and is a Proof-of-Work (PoW) coin.
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Tron (TRX) has shown a price increase of 4.39% in 24 hours, currently priced at 0.2358 USD. Meanwhile, Dogecoin (DOGE) has a market cap of 22.47 billion USD, valued at 0.1514 USD. Tron requires an increase of about 150 million USD to surpass DOGE.
Tron is recognized for its strong ecosystem, particularly with Tether (USDT) and significant staking volume for its USDD coin. As the demand for Tron’s solutions grows, it is positioned as a strong competitor against other established cryptocurrencies.
Major cryptocurrencies faced significant declines with Dogecoin dropping to nearly 0.145 USD, while Fartcoin rose about 10% to 0.4878 USD. This phenomenon depicts the surprising resilience of Fartcoin as investors navigate challenging economic circumstances.
The volatility reflects confusion among investors as Fartcoin defies the market’s downturn triggered by President Trump’s trade announcements. Investors are left questioning the drastic performance differences between Fartcoin and other established cryptocurrencies.
Billy Markus, the cofounder of Dogecoin, shared humorous memes that illustrate the cyclical nature of the crypto market as it experiences severe downturns. He noted the emotional loops characterizing bull and bear markets.
The crypto market is under intense selling pressure, with Bitcoin falling below 75,000 USD. Major cryptocurrencies like XRP and SOL also saw drops of over 17% alongside Dogecoin’s decrease to 0.138 USD.
Market sentiment is currently low due to significant liquidations totaling 1.4 billion USD, reflective of widespread panic-selling and potential market extremes.
Dogecoin has faced a significant decline, dropping to $0.1354 and losing approximately $3.73 billion in market cap. The overall bearish sentiment in the market is compounded by technical indicators suggesting continued downward momentum.
Warnings from financial analyst Jim Cramer about a potential global market crash if tariffs remain high are affecting sentiment around Dogecoin. Although technical indicators reveal a bearish trend, a possible falling wedge pattern could signal a future bullish recovery.
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