DogeCoin Up By 0.44% – Time To Buy DOGE?

• Investors to buy DOGE as the asset gains the bulls
• DAODAO To Build Functionality To Aid Dogecoin Investment
• Dogecoin Commissions The Biggest Doge Beach Art

Dogecoin (DOGE) was built as a humorous alternative to regular cryptocurrencies. However, the altcoin ended up gaining widespread popularity. Most of the users who buy DOGE are developers and artists.

The digital asset is primarily used on Reddit and Twitter as a tipping system for rewarding valuable content. Unlike the bitcoin proof-of-work protocol, the altcoin uses Scrypt technology. Dogecoin is known for its 1 minute block time and uncapped total supply.

DAODAO To Build Functionality To Aid Dogecoin Investment

DAODAO, a major crypto fundraising platform, has disclosed its plans to build functionality to aid DOGE investments. The project is set to launch in May 2022. As a result, Dogecoin will be integrated into any decentralised autonomous organisation (DAO) launched on the platform.

With this new development, Dogecoin is set for expansion. This is an expansion that may spur investors to buy DOGE.

Formerly, users could only invest in DAOs with ETH. This unique and compelling recourse holds diverse potential for DOGE holders and investors seeking to buy DOGE. DAODAO is the first known DAO platform to support Dogecoin and other currencies like ETH, SOL, BTC, and fiat.

Also, plans are being formulated to launch a DAO that amasses a stake in Twitter and advocates for Twitter to approve Web3 functionality. Chief among these plans is the clamour for Twitter to approve social tips in more cryptocurrencies (like Dogecoin). This may shift the entire twitter base to an open social protocol like DeSo (Decentralized Social).

Moreover, if the Takeover DAO choose to launch and raise substantial capital from communities like the DOGE community, Twitter may undergo a quantum shift.

Dogecoin Commissions The Biggest Doge Beach Art

Dogecoin recently commissioned one of its biggest art pieces. The artwork was created by an Irish artist who creates art on wet sand. Dogecoin had earlier revealed that Doge NFT was verified on Twitter. This may spur developers and users to buy DOGE as the network seeks to empower creators.

Additionally, the newly commissioned artwork has garnered many views among its social Shard community and Dogecoin Foundation members.

Hence, Doge NFT continues to record huge progress with several giveaways and academy proposals.

Technical Analysis

At press time, DOGE trades at $0.13. In the last 24 hours, the digital asset has risen by 0.44%. The altcoin’s technical indicators show a bullish trend for investors who choose to buy DOGE.

DOGE is now trading within the 23.6% Fibonacci retracement threshold of $0.13. However, its moving average convergence and divergence (MACD) is negative, indicating a sell signal.

Furthermore, the altcoin shows a 50-day moving average value of $0.13 and a 50-day exponential moving average of $0.13. DOGE’s current price and its indicators are pegged at the same value. This shows the asset has begun recovery from the bears that trailed it over the past few days.

Moreover, DOGE’s relative strength index of 42.52 shows the token is trading in the underbought region. The digital asset’s indicators reveal that it is an opportunity for investors to buy DOGE and rise with the market.

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