Dogecoin Price Down 0.67% – Time To Buy DOGE?

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  • Bitcoin ATM Operator Adds DOGE to Kiosks, best time to buy DOGE?
  • Tesla gives the green light to buy Cyberquad, Giga Texas Belt Buckle, Cyberwhistle with Dogecoin.
  • AMC Theatres Now Accept Dogecoin Crypto Payments.

Dogecoin (DOGE), the lighthearted alternative to traditional cryptocurrencies, recently had a dip in prices amid the downtrend in the crypto market. Is this a good time for investors to buy DOGE? Will the asset rise when the market consolidates?

The crypto asset is widely known for the Internet meme “doge”. It has a Shiba Inu as its logo. In addition, DOGE became one of the most valuable cryptocurrencies in market capitalisation, surpassing $50 billion in 2021, even though each coin is only worth a few cents.

Bitcoin ATM Operator Adds DOGE To Kiosks, Best To Buy DOGE?

Bitcoin of America has announced the newest addition to their Bitcoin ATMs (BTMs). Dogecoin may now be purchased at BTMs.

Over the last year, Bitcoin of America has made significant modifications to its equipment and services. The exchange revealed its new Universal Kiosk in May of last year. The new universal kiosk offers three main functions and combines the capabilities of a traditional ATM with those of a Bitcoin ATM.

The first is the traditional ATM feature, which allows customers to withdraw cash using their debit cards. The ability to buy cryptocurrencies with cash is the second feature. The final option is for customers to sell cryptocurrency for cash.

Tesla Gives The Green Light To Buy Cyberquad, Giga Texas Belt Buckle, And Cyberwhistle With Dogecoin

Tesla’s CEO, Elon Musk, has revealed that consumers can now use Dogecoin to buy certain Tesla items. The Cyberquad for Kids (12,020 doge, roughly $2,320), the Giga Texas Belt Buckle (835 doge, around $161), and the Cyberwhistle (300 doge, about $58) are among the items that you may buy with the meme-based money.

Musk revealed the development on Twitter, saying that the company would see how it goes with the cryptocurrency payment option. It’s unknown whether or when Tesla would accept Dogecoin as a form of payment for its vehicles. Musk has previously stated that Dogecoin is his favourite cryptocurrency.

The Tesla CEO stated that he collaborated with Dogecoin developers to increase system transaction efficiency. He’s been outspoken about his support for the cryptocurrency, which began as a joke inspired by the Doge meme.

AMC Theatres Now Accepts Dogecoin Crypto Payments

AMC Entertainment, the world’s largest movie theatre chain, has finally started taking Dogecoin and Shiba Inu payments. For some months, supporters of DOGE and SHIB have been waiting for AMC Theatres to accept the two meme cryptocurrencies.

AMC Theatres’ CEO, Adam Aron, said recently that AMC Theatres would officially accept DOGE for online transactions. Bitpay, which processes crypto payments for Aron’s company, also received a mention from the CEO.

The movie theatre chain now accepts various cryptocurrencies in addition to Dogecoin and Shiba Inu, including Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Litecoin (LTC), and XRP, thanks to Bitpay’s integration.

Dogecoin Technical Analysis

At press time, the Dogecoin price is $0.1499. In the last 24 hours, DOGE has dipped by 0.67%, with a 24-hour trading volume of $6 billion.

The technical indicators of DOGE show a slightly bullish value. The crypto asset is trading across the 23.6% Fibonacci retracement threshold of $0.1493, which means DOGE will likely see resistance above that level. However, a broader market bull run could see it break above instead.

The digital asset’s Relative Strength Index (RSI) stands at 31.25. This shows that Dogecoin is in the underbought zone leaving more room for investors to buy DOGE and rise with the market.

Furthermore, Dogecoin’s asset is trading below the indicator, with a 50-hour Simple Moving Average (SMA) value of $0.1531. This also shows that the asset is bearish.

The Moving average convergence and divergence (MACD) indicator shows a strong sell signal.

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About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.