Home Bitcoin Update How the worth has reacted to Ukraine accepting DOGE donations

How the worth has reacted to Ukraine accepting DOGE donations


Just lately, Ukraine’s Vice Prime Minister Mykhailo Fedorov had tweeted {that a} Dogecoin pockets has been added for crypto donations. DOGE joined the prevailing BTC, USDT, ETH, and DOT pockets addresses because the war-hit nation’s donation choices. Reportedly, near $50 million have been raised to date.

With that, the query arises if the meme coin donation has supported DOGE’s value?

On the time of writing, DOGE was down round 4% within the final 24 hours. It maintained a value range of $0.125549 and $0.134115 for a similar interval. Nevertheless, on its hourly chart, the token was hovering close to the $0.127 stage.

It’s price noting that even when DOGE is down by over 80% from its ATH in Might 2021, it has managed a 16% restoration from its cycle low as per Messari’s analysis.

This primarily signifies that the meme coin with over $16 billion in market cap has obtained some help to its value up to now day.


Supply: IntoTheBlock

Notably, for the previous three days, DOGE has been range-bound. Nevertheless, the pockets addition to be able to assist Ukraine doesn’t look promising sufficient for a rally amid bigger market uncertainty. Particularly when specialists have raised warning on the dangers and lack of transparency of a few of these transfers.

On the present value ranges, half of the Dogecoin holders are in revenue, whereas 2% of the remaining half are at breakeven, with 48% out of the cash as per IntoTheBlock data.


Supply: IntoTheBlock

In the meantime, the Relative Power Index for Dogecoin rested on the 40-mark wanting southward. The value motion additionally appeared bearish on a macro timeframe. Apparently, RSI has remained underneath the 50 stage since 15 February. It appears to be like just like the 35-50 ranges are appearing as help for DOGE.


Supply: TradingView

Newest on DOGE

Just lately, DOGE’s Billy Marcus introduced the launch of a DOGE wallet for iOS customers. Together with that, the Dogecoin Basis (the non-profit group behind the mission) notified the neighborhood that it has secured trademark safety underneath the EU mental property registration for Dogecoin.


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