• Dogecoin’s price has risen by 13% in the past week and 6% in the last 24 hours.
• Its indicators are currently in a position for a rally and its 30-day moving average is below its 200-day average.
• This rise comes as the cryptocurrency market as a whole increased by 4%, with investor sentiment likely buoyed by measures taken to stabilize the financial situation of First Republic Bank.
Dogecoin Price on The Rise
Dogecoin’s price has seen remarkable gains over the past week, rising 13% from $0.067620 to $0.075820 today. Additionally, it has appreciated by 7.5% since the start of 2021 and experienced a 6% increase in the last 24 hours as investors continue to show confidence in cryptocurrencies despite recent news of vulnerabilities in its code base.
Positive Market Sentiment
The current surge in Dogecoin’s price comes amidst an overall positive trend for cryptocurrencies, with the market increasing 4% in just one day due to measures taken to stabilize First Republic Bank. This is a sign that investors are more willing than ever to invest their money into digital assets, thereby creating an ideal environment for DOGE to continue its upward trajectory.
Indicators Pointing Upwards
DOGE’s indicators are also pointing towards further growth potential, with its relative strength index (RSI) bouncing from nearly 20 (oversold) a few days ago to nearly 50 and continuing on an upwards trajectory. Furthermore, its 30-day moving average (red) has dropped below its 200-day average (blue), which could signal another surge above this longer term line soon enough.
Despite all this positive news however, researchers at cybersecurity firm Halborn recently discovered a zero-day vulnerability impacting 280+ networks including Dogecoin, Litecoin and Zcash – potentially putting over $25 billion worth of digital assets at risk and causing some temporary losses for DOGE midweek before it recovered today . Fortunately though developers had already patched this issue prior to Halborn disclosing it publicly on Monday March 13th , therefore minimizing any long lasting damage caused by malicious actors exploiting these weaknesses .
The Possibility Of Twitter Integration
Another factor that could be driving up prices is speculation surrounding possible future integration with Twitter payments , which could make Dogecoin even more accessible than it already is . In addition , supporters remain hopeful that such integration will eventually take place , thus making 2023 another very positive year for DOGE holders once again .