A visible slump in the value of DOGE has occupied the attention of crypto communities in recent days. Observations show a 2% fall in the past 24hrs and an overall 14% dip in prices since the year’s commencement. Further grim statistics reveal that DOGE’s relative strength index has fallen below 50 since mid-August, indicating some significant overselling. Perturbingly, DOGE’s 30-day EMA has lingered beneath its 200-day average throughout the year, hinting at a heightened period of decline.
Despite its no-entry into major markets, DOGE’s community stalwartly hopes for an entry into cryptocurrency payment by a previously Twitter-owned company, X. The anticipated introduction might hail a massive rally for DOGE. However, with the crumble of the support level since mid-August, such optimism can appear misplaced without anything concrete holding the digital coin from further price falloffs.
Interestingly, the last significant piece of DOGE news largely centered around tweets from Elon Musk, who occasionally invoked internet buzz with obscure references to the meme token. His tacit support fostered hopes for an breakthrough in DOGE payments on platform X, especially considering the latter’s stride toward adopting digital payments after recent acquisition of money transmitter licenses. But the forethought of such executions involving DOGE remains obscure, and thus, future spikes in its value remain speculative.
However, the suggestion of DOGE payments on X could catalyze a price rally preceding double digits. Yet, absent that, the meme coin could continue its downtrend, hitting new lows unless another bull market emerges.
Shifting focus from sagging tokens, potential investors are flocking towards coins that showcase tangible use-cases. One such entity emerging from the crypto arena is TG.Casino (TGC), a decentralized gambling platform mixing betting and social networking.
In the wake of a rising user base, TG.Casino has launched a presale for its native TGC token, amassing a staggering fund above $500,000. The platform also operates on Telegram, exploiting the enormous user communities present on the app which makes it stand out from competition. A predetermined distribution plan is expected to entice broad community involvement, fostering longevity for the platform. The presale for the TGC token, priced at $0.125 each, is currently live on the official TG.Casino website and soon shall be listed on exchanges.
The caveat remains in crypto investments with potential capital loss, as they fall into the high-risk asset class. Always proceed with information and caution when considering such financial ventures.
Source: Cryptonews
