Watching Dogecoin (DOGE) hover around $0.060839, with a 0.5% rise in the past hour and zero percent gain over the past 24 hours, it’s hard not to feel a pang of disappointment. While its recent 2.5% monthly slump might seem a bit dreary, especially considering the 13.5% dip since the year started, we can’t ignore the context here. Other major tokens such as BTC, ETH, XRP, and SOL have been going uphill since the start of the year, setting a high-altitude course for the cryptocurrency market.
Oops, did I miss out something? Hopes are still high in the Dogecoin community, waiting with bated breath for an integration with X, formerly known as Twitter. From what can be seen in DOGE’s indicators, which remain in weakened positions, the market seems to sell this coin at a rather steep discount. This long-overdue recovery pivots on DOGE’s relative strength index which sticks at a sobering 40, edging not so much on the rosy side since mid-August.
Issue arises when it comes to the meme token’s medium-term support level – an ominous shade of green – which has seen little to no rise in the recent weeks. This suggests further losses could be impending before DOGE could mount a significant recovery. Quite a cold sweat.
There is, however, a flicker of optimism in the 0.5% growth seen in the past hour. Yet, with nothing concrete to back this change, dogecoin’s future seems to be stranded in a sea of uncertainty. Even Elon Musk’s interactions with the Dogecoin community on Twitter, though promising, might be a hasty conclusion that he plans on integrating DOGE with ‘X’.
Will X launch DOGE payments? One can only fantasize the surge that would ensue! But it’s worth noting the lack of assurances that DOGE, let alone crypto in general, would be prioritized over fiat.
But before our heads spin with speculative frenzy, let’s turn our gaze on the new breed of altcoins, such as TG.Casino (TGC), which makes a compelling alternative. The Ethereum-based crypto-fueled casino which uses Telegram to redefine online gambling has had investors scrambling in, amassing over $220,000 just after its presale last week. Smart contracts, fairness, transparency, instant payouts, traditional to video games, staking rewards, and a maximum tokens supply – TGC seems to have it all. But will these fundamentals be enough to overcome the volatility that is inherent in the high-risk world of crypto? Only time will tell.
Source: Cryptonews
