Will Dogecoin demand wall hold its ground as DOGE price climbs above $0.076?
- Dogecoin demand wall at $0.075 held steady despite the FUD from Silvergate bank, 44,000 addresses bought 34.4 billion DOGE.
- As Dogecoin gained traction, the meme coin continued to climb above key support level at $0.075.
- DOGE price is on track to significant resistance at $0.086 where 92,000 addresses bought Dogecoin.
Dogecoin, the largest meme coin by market capitalization, continued its uptrend as the demand wall at $0.075 held steady. While the uncertainty from Silvergate bank’s clients, cryptocurrency exchanges and crypto firms dropping the financial institution triggered a correction in the cryptocurrency ecosystem, DOGE price held its ground above the support level at $0.075.
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Dogecoin demand wall at $0.075 held despite uncertainty in crypto
Dogecoin, the Shiba-Inu-themed cryptocurrency, survived the uncertainty in the crypto ecosystem. When Silvergate bank announced that it could be approached by US regulators and the Department of Justice for investigations, crypto clients dropped the banking institution and moved on to other financial firms.
The event triggered Fear, Uncertainty and Doubt (FUD) among crypto market participants. Despite Silvergate FUD, Dogecoin price held steady above $0.075, where 44,000 addresses bought 34.4 billion DOGE tokens.
Dogecoin demand wall holds steady above $0.075
The next significant resistance for DOGE is at $0.086, with 92,000 addresses holding 13 billion Dogecoin tokens. The meme coin’s price held steady despite a correction in Bitcoin, Ethereum and altcoin prices. Bitcoin and Ethereum witnessed nearly 5% correction within an hour on March 3.
At press time, Dogecoin is trading at $0.076. The largest meme coin by market capitalization is on track to climb towards the next resistance at $0.086, in its ongoing uptrend.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
