Skip to main content

Dogecoin: Dogechain is surprisingly becoming a course driver

 


Dogechain advertises itself as a second-layer solution based on the Dogecoin blockchain. In fact, however, it is based on Polygon Edge technology and is therefore EVM-compatible. Thus, the Dogechain makes it possible to invest in the full variety of decentralized financial applications and NFTs.


To do this, Dogechain users must first convert their DOGE to wDOGE. So this is a wrapper for Dogecoin. The idea of ​​making investments on another chain with tokenized dogecoin is well received despite the distorted representation of what the dogechain is. The dogechain quickly became a topic via social media and the DOGE course was able to pick up.


Even a statement from the Dogecoin Foundation could not cloud the miniature rally. The foundation quickly made it clear that it was not involved. In general, it is advisable to be careful with the dogechain. It wouldn't be surprising if a chasm suddenly opened up and investors lost their money again to exploits or other adversities.


Dogecoin also remains dependent on monetary policy

Currently, however, the narrative surrounding the dogechain is not decisive. Instead, the focus will be on whether the US stock market continues to rally or whether it was just a correction and therefore a bear market rally.


Today the FOMC Minutes will be published, which could reveal between the lines how the Fed will act at the next meeting in late September. Even if it may sound a little absurd, the Dogecoin course is therefore dependent on the monetary policy of the US central bank.


Bullish market participants are betting on a disparity, hence that the economy is going through a recession, but the markets are still posting splendid gains. For those who are bearish, expect markets to collapse as monetary policy tightens and the recession kicks in.


From a technical point of view, it would be important for Dogecoin to clear the resistance at $0.09 in order to actually break out bullish. If this is not the case, DOGE could fall back into the range in which the price has been moving since the end of June. However, a break below $0.05 would be a clearly bearish signal for the mother of all memecoins.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more