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Dogecoin / Bitcoin

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DOGEBTC trade ideas

Shift in momentum, Dogecoin * FOR THE RECORD, I OWN 2.75Ɖ * Dogecoin has been slowly chipping away at its Bitcoin ‘dominance’ for over a year — a losing battle of course — Bitcoin has always been the King of the crypto market. This “chipping away” has been happening at a relatively steady pace since it’s peak in relative strength in May, 2021. This chart clearly shows that shift in momentum, and dominance. But why? As economies go, the DOGE economy is no different — there are many factors involved in its ebbs and flows. I’d like to list off a few reasons that may possibly explain the shift we’re witnessing on this chart. Interesting Note: This smooth steady shift in momentum might suggest an inverse correlation between the two. Momentum Shift, Why? Sentiment: The Dogecoin movement has an energy unlike any other. In 2021, we saw the brunt of how powerful that sentiment can be. This energy has since gone from a roaring boil, down to a simmer — with many supporters realizing that Dogecoin is not just about making money — it is money. Bitcoin’s sentiment has gone from bad to worse, with institutional investors realizing the “Store of Value” mantra was somewhat of a façade. Bitcoin, like all other cryptocurrencies, is a hedge against centralized corruption and poor reserve management. It will mot retain it’s value from purchase to sale. Furthermore, Bitcoin is inflationary until the last Bitcoin is mined in the year 2140. Marketing: Coins cannot pay for their own marketing, that’s a nonsensical idea. It’s also clear that they shouldn’t even if they could — coins are only medium of exchange. However, there are quasi ‘brands’ associated with each respective coin, brought on by the crowd they attract. For Bitcoin, the brand is anarchistic capitalism, while Dogecoin has become more geared toward humility. Surely we can see why these two coins are inversely correlated to some degree — their cultures contrast in many ways. Upgrades: While this topic is too long to cover completely, one point to note is that Dogecoin developers have recently published “libdogecoin” which has catapulted development in the periphery of the flagship Dogecoin Core software. This advancement might be what we’re seeing with the most recent “curling up” of the Dogecoin’s relative strength. MyDoge Mobile Wallet: This has been huge for Dogecoin over the past 6 months. This Dogecoin wallet has a very simple, with a innovative design that has caught the interest of thousands of users. The mobile app has made Dogecoin accessible to everyday folk who may have not had the technical expertise to use the Dogecoin Core wallet. We can imagine that this self-custodial wallet is slowly becoming discovered in the App stores, and being used increasingly for the purposes of commerce and interpersonal exchange. It’s not hard to tell that Dogecoin has really grown up over the last year, and needless to say it seems to be helping it relative strength against Bitcoin. On a final note, this isn’t written in distaste for Bitcoin, I’ve only just grown to understand that Dogecoin is a stronger candidate than many people realize.
by daanksy
DOGEBTCHello Crypto Lovers, Mars Signals team wishes you high profits. This is a one-day-time frame analysis for DOGEBTC Here you observe that R2 and R1 are our resistance areas and both contain the unsuccessful triumphs of the price to rise. And S1 is the support line in which the well support of the price since the past is clear. At the moment, we have the fluctuation of price below R1 and we must wait for some confirmation candles to make sure whether the price will have a rising or falling trend. Either the price will give us some rising signs, and therefore we predict an increase to R2. Or it may happen that the price loses the support here and a decline is waiting for it toward S1. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you luck
by MarsSignals
2
The Scrypt Miner's DilemmaSuch problem, much wow. Dogecoin is 'merge mined' with Litecoin. This means that as a favor to Dogecoin (and heck considering the stupidity of retail investors, a shockingly profitable one) Litecoin miners simultaneously contribute work to Doge blocks as they perform Litecoin's POW. This decision by Litecoin miners (and the ltc community I suppose) to help Doge prevent a certain death many years back was perhaps an easy one: not much to lose with a shot at some profits in the form of Doge (if it happened to survive). Fast forward to the last couple of years: Doge has managed to (lbf temporarily) overtake Litecoin a midst the 2021 crypto bull run. Why was this again? Oh ya, b/c cool guy said the things about how great it is...oh, and he may not be so cool anymore b/c of (at least what would appear on the surface) a fairweather easily swayed weak hands perspective on hodling cryptocurrency. The logic must have went something like this: everything's going up, cool guy is richest guy in the world, cool guy like coin: I like coin! Shut up and take my money! Welp, I hope cool guy doesn't have even weaker hands with the meme coin than he does with Bitcoin. lol. Or Twitter. double lol. In anticipation of the Litecoin Halving (litecoinblockhalf.com) it would perhaps make economic sense for miners to slowly seek to sell a bit of coin over the coming year in anticipation of their block reward being cut in half to help smooth the transition. It's no secret that we here at LARP are wildly bullish on Litecoin over the coming year and beyond and are expecting a historic bull run which has likely already begun. In it of itself, it was only a matter of time before Litecoin would reclaim it's market dominance over Doge. In a sense, the 2021 Doge bubble was blessed by Litecoin miners and allowed to happen as it benefited them handsomely. It's some-what astonishing how high the market cap actually went, but when you combine retail frenzy with the ignorance of market-making industry wide 'index' based funds--magic can happen. But I digressss. Considering all of the above, the question for the scrypt miner over the next year becomes: WHICH COIN TO SELL!? The legitmate one that is on the rise who's supply available for sale is about to be drastically reduced or the wildly overvalued meme coin with an infinite supply? Hmmm. Tough one. Perhaps a bit of a vicous feed-back loop could develop here around this narrative. Does any of this stuff even really matter? Probably not, but I'd say the logic is at least more sound than the 'fundamental' reasons for Dogecoin's epic rise. lol. Anyway, you know us, above all we only really care about TA, so lets talk charts. LTCUSD/DOGEUSD Ratio:
by ltc-joe
2
Dogecoin has been obliterated against BTC since last year.Dogecoin has been obliterated against BTC since last year. I can't recommend going long on DOGE right now. I would only spot buy it and only hold it with no leverage for the next bubble phase and hope to catch some sales in a few years. Dogecoin does have its moments when it shoots so it is nice to have some exposure. But Doge vs BTC, BTC has been the big winner as Dogecoin has lost a bunch of its value. It is a value buy below 350 Sats, but yeah, you have to buy this with extra extra money.
Short
by aeloxcom