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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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A considerable 76.65% of Binance Futures traders maintain long positions in Dogecoin (DOGE), indicating bullish market sentiment. Despite this optimism, growing liquidation risks could lead to market corrections.
At the moment, DOGE is trading at $0.1809, reflecting a 7.96% drop in the past 24 hours and testing critical support levels. Maintaining support is crucial for a potential rally towards $0.208.
With only 47,577 active addresses and a low MVRV ratio of 0.546, Dogecoin faces challenges in sustaining upward momentum. Long liquidations amounting to $5.53 million heighten bearish pressures, questioning the durability of current optimism.
This week, significant increases in wallets for OP and DOGE indicate a positive shift in sentiment, with OP’s holders rising to 4,313, and DOGE’s reaching 747.
Additionally, Worldcoin witnessed growth in wallets holding between 10,000 and 1,000,000 WLD, climbing to 1,138, suggesting renewed whale interest despite challenging market conditions.
Interactive Brokers now offers Solana (SOL) at 136.32 USD, Cardano (ADA) at 0.7199 USD, XRP at 2.36 USD, and Dogecoin (DOGE) at 0.1918 USD, increasing its crypto offerings significantly.
The platform generated 9.3 billion USD in revenue for 2024 and aims to provide low transaction fees between 0.12% to 0.18% with a minimum fee of 1.75 USD per trade, enhancing its competitive position in the market.
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