Dogecoin Continues to Expand Exposure with New Exchange Listings
Dogecoin (DOGE), the popular meme-themed cryptocurrency, is making waves with its continued expansion into new exchanges. The latest development comes from Flitpay, an Indian crypto exchange, which has announced that DOGE deposits and withdrawals are now available on its platform. This move will further increase the accessibility and exposure of Dogecoin in the Indian market.
Flitpay Announces Availability of Dogecoin Deposits and Withdrawals in India
In a recent announcement, Flitpay, one of India’s popular cryptocurrency exchanges, revealed that it is now offering DOGE deposits and withdrawals for its users. This news comes as a positive development for Indian crypto enthusiasts who have been eagerly waiting to trade and invest in Dogecoin. To celebrate the addition of DOGE to their platform, Flitpay is offering a 1% assured bonus for deposits and a chance to win 20 DOGE for 10 lucky winners.
Binance Adds USDC-margined DOGE Perpetual Contract with 75x Leverage
The well-known cryptocurrency exchange Binance has also joined the Dogecoin bandwagon by listing a USDC-margined DOGE perpetual contract. This new addition allows users to trade DOGE with up to 75x leverage, providing them with more flexibility and potential for higher returns. Binance’s decision to introduce this trading option is a testament to the growing popularity and demand for Dogecoin in the crypto market.
Dogecoin Achieves Milestones in December, But Profitability Drops
In December, Dogecoin achieved several notable milestones, including reaching five million addresses with balances and experiencing a significant increase in transactions. These achievements initially drove up the price of DOGE. However, the recent price drop suggests that only slightly over half of Dogecoin holders (54%) are currently profitable. This level of profitability has not been seen since early November 2023. Despite the drop in profitability, Dogecoin remains one of the top cryptocurrencies by market capitalization, with a valuation of over $11.41 billion.
Dogecoin Holds Steady at $0.08 as Bulls Attempt to Break Key Resistance Levels
Currently trading at around $0.08 per coin, Dogecoin has been consolidating in a range since the beginning of the year. Despite its recent price fluctuations, the bears have been unable to bring the price down to $0.07, which shows some strength in the market. If the price manages to break above the daily MA 50 of $0.089, it will indicate that the bears are losing control. In that case, buyers will likely attempt to push the price towards the next resistance levels of $0.10 to $0.11.
In conclusion, Dogecoin’s expansion into new exchange listings, such as the recent addition on Flitpay, is further enhancing its exposure and accessibility for investors. The listing of a USDC-margined DOGE perpetual contract on Binance also highlights the increasing demand for Dogecoin trading options. While profitability for Dogecoin holders has dropped recently, the overall market sentiment remains positive. The current price consolidation and resistance levels suggest that there is potential for a bullish breakout in the near future. Cryptocurrency enthusiasts and investors will be closely watching Dogecoin’s next moves in the market.
Analyst comment
Positive news: Dogecoin continues to expand exposure with new exchange listings on Flitpay and Binance offering DOGE deposits, withdrawals, and trading options. The increased accessibility and demand indicate a positive market sentiment for Dogecoin.
Analyst prediction: Dogecoin’s expansion and increasing demand will likely lead to a bullish breakout in the near future, with potential price increases towards resistance levels of $0.10 to $0.11. Investors will closely monitor Dogecoin’s next moves in the market.
