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.

Also read: Binance accused of intellectual theft by a South Korean firm, what to expect from BNB?

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

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. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink social dominance surged to a six-month peak on Friday as LINK holders increased their activity. LINK traders started taking profits, on-chain data trackers show. LINK price added 6% on Friday, extending its gains from mid-week.

More Chainlink News

Binance helps Taiwan crack a virtual asset money laundering case, BNB sustains above $570

Binance helps Taiwan crack a virtual asset money laundering case, BNB sustains above $570

Binance’s Financial Crimes Compliance (FCC) department joined forces with Taiwan’s Ministry of Justice and helped resolve a case of money laundering worth NT$200 million, or $6.2 million. 

More Binance News

Bitcoin Weekly Forecast: Is BTC out of the woods? Premium

Bitcoin Weekly Forecast: Is BTC out of the woods?

Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.

More Bitcoin News

XRP trades steady at $0.50 as Ripple shares plan to expand services in Africa

XRP trades steady at $0.50 as Ripple shares plan to expand services in Africa

Ripple hovers close to $0.51 on Friday, above the psychologically important $0.50 level, as traders await the court ruling of the lawsuit against the US Securities and Exchange Commission and amid new commitments from the firm to expand its services in Africa. 

More Ripple News

Bitcoin: Is BTC out of the woods? Premium

Bitcoin: Is BTC out of the woods?

Bitcoin (BTC) price action in the past two days has confirmed the resumption of the bull run. However, BTC needs to clear a few key hurdles before investors can go all-in. 

Read full analysis

BTC

ETH

XRP