Dogecoin's price increased by 5% in the last 24 hours, reaching $0.0990, despite an 8% drop in trading volume to $428 million. This rise in price coincided with the launch of Elon Musk's X TV beta app, which is part of his plan to transform X into an 'Everything App.'
Dogecoin Price Movement
Dogecoin continues to show positive changes despite a recent downtrend. Over the past 24 hours, DOGE's price rose by 5%, despite an 8% reduction in trading volume. This coincided with the launch of the X TV beta, possibly attracting investor attention.
Dogecoin Chart Analysis
Dogecoin is trading within a descending channel, indicating that bears have taken control at the $0.114 resistance level. The current price has dropped below both the 50-day and 200-day Simple Moving Averages (SMA), confirming the recent bearish trend. The Relative Strength Index (RSI) is rising towards the 50-line, indicating increasing buying pressure. Furthermore, the MACD indicator is also moving towards the neutral zone, pointing to positive momentum. The blue MACD line crossing above the orange signal line represents a bullish crossover.
Base Dawgz News
The Base Dawgz project recently concluded its token presale, raising over $3.2 million. The $DAWGZ token will officially launch on a decentralized exchange (DEX) on September 4 at 5 p.m. CET. Base Dawgz aims to offer a unique multi-chain experience with compatibility across various blockchains such as Ethereum, Solana, Binance Smart Chain, and AVAX. The project also offers participation in the 'Be Social for Airdrop' campaign, which rewards users with points that can be exchanged for $DAWGZ tokens.
The launch of X TV and the current price dynamics of Dogecoin indicate ongoing interest in the project. Base Dawgz has also attracted attention with its successful presale and plans for further multi-blockchain ecosystem development.
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