In a recent X post, @DogecoinFear claimed that the Dogecoin Fear and Greed Index has reached “greed” level, with a score of 71. This suggests that a market correction may occur shortly, whereas a “reading” of fear suggests that investors are becoming concerned, which presents a purchasing opportunity.
Fear and Greed Index for Dogecoin is 71. Greed pic.twitter.com/TEgVW6MunR— October 24, 2023, Doge Fear and Greed Index (@DogecoinFear)
Dogecoin, the original joke cryptocurrency, has increased by 13.25% since Sunday, rising from $0.0607 to $0.0687. As of this writing, the popular meme coin is trading at $0.0679 on the Bitstamp exchange.
What the Dogecoin Fear and Greed Index Reveals Amid DOGE’s 13% Rally,What the Dogecoin Fear and Greed Index Reveals Amid DOGE’s 13% Rally
Dogecoin is soaring in tandem with the leading cryptocurrency, Bitcoin, which has risen 11.63% in the last day and unexpectedly crossed the $34,000 mark, currently trading at $34,585. Many think that the excitement around a Bitcoin spot ETF, which the SEC is anticipated to approve this year, is the cause of the price push.
Dogecoin aims for $1.
A number of cryptocurrency analysts have recently stated in their X posts that they believe DOGE will go for the lofty $1 objective. According to cryptocurrency specialist Ali Martinez, Dogecoin was approaching the peak of a multiyear falling triangle pattern over the weekend.
He stated that DOGE may reach $1 based on future developments. The $1 aim for Dogecoin was recently announced by @AngloBTC, a market analyst and bitcoin dealer.
“The universe owes me one billion dollars,” he tweeted. Goal: $1.”
Dogecoin is trading about 100% less than ATH.
On May 8, 2021, Dogecoin hit an all-time high of $0.7376, partly due to the influence of tech mogul, DOGE enthusiast, and current owner of the X platform Elon Musk. He promoted Dogecoin when he made his Saturday Night Live debut back in 2021.
But not long after the first spike, the price started to fall as many investors cashed in on their gains. Elon Musk has since supported DOGE in a number of tweets, but he hasn’t been able to raise the company to the prior all-time high. The value of the dog cryptocurrency is currently 90.74% lower than its peak in 2021.
What the Dogecoin Fear and Greed Index Reveals Amid DOGE’s 13% Rally,What the Dogecoin Fear and Greed Index Reveals Amid DOGE’s 13% Rally,What the Dogecoin Fear and Greed Index Reveals Amid DOGE’s 13% Rally, Doge coin Crypto news, Doge coin News