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Dogecoin Sheds Nearly 2%, Yet Analysts Upbeat DOGE Can Breach $0.0788

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The price of Dogecoin (DOGE) is down 1.80% and is currently trading at $0.068826. CoinMarketCap ranked DOGE #10th largest coin in terms of market cap.

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The current market capitalization of Dogecoin is $9,131,190,072 and the 24 hour trading volume is $494,541,797. Currently, the total number of DOGE coins in circulation is 132,670,764,300 coins.

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Cryptocurrency analysts and experts expect Dogecoin to break the $0.0788 zone.

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Dogecoin developers launch new update

Dogecoin the developers have released their recent update that can help improve the efficiency, performance, user experience, and security of the meme coin.

Dust limits have also been lowered from 1 DOGE to 0.01 DOGE. The new refresh or payment mechanism also aims to further decentralize the meme coin network.

The new update was launched on July 21, 2022, along with an update or release of the payment engine. The new update includes some great features and security fixes. Additional nodes have also been limited to 800 to avoid the risk of network memory overload.

In addition, there are also new minor version updates that include important security updates as well as fixes and improvements to improve network efficiency and reliability. Moreover, all Dogecoin Core users, including wallet users, miners, and relay operators, are strongly encouraged to upgrade.

DOGE total market cap at $8.9 billion on the daily chart | Source: TradingView.com

Dogeverse Energy Boosting Memes

Dogeverse has also been filled with memes, which have also boosted online activity. In fact, up to 80,000 transactions have been processed in the last 24 hours, and many investors have expressed great interest and excitement about the memes found on the web.

Another interesting product adding dynamism to the Dogecoin meme economy is the MyDoge wallet, which is a DOGE wallet that allows fans to send DOGE tips to meme creators.

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Analysts are confident that DOGE is ready to break through the $0.078 level. All signals are waiting for this to happen soon. Now, in the worst case scenario, or if DOGE fails to break the $0.078 zone, the meme coin will drop in price by as much as 60%, which is a huge, painful drop.

DOGE data has risen steadily over the past three months after the biggest decline seen in December 2021. The MDIA DOGE value also dropped over 21.6% in just three days.



Credit : www.newsbtc.com

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