Creator of biggest memecoin on market has something to say about Bitcoin
give answer Post Regarding the different ways to view progress, Dogecoin creator noted bitcoin’s controversial price performance and asked whether this could be considered progress. Later, he agreed that it is.
In the last few months, Bitcoin has lost a major part of its value on the cryptocurrency market, causing panic among long- and midterm investors that were aiming at serious gains after the first cryptocurrency broke through the psychological resistance of $50,000.
Apparently, given its overall pro-crypto status on Twitter, the creator of Memecoin, the largest on the market, was ironically asking about bitcoin’s progress. He later said that if something is above zero, it is already moving.
How is Dogecoin doing?
Unfortunately, the progress of the first memecurrency on the market is not something investors would desire as DOGE is yet failing to break every local resistance level on the chart and still consolidating around the 50-day moving average.
Fortunately, we can clearly see a flag pattern here, which, given Dogecoin’s price performance over the past few months, points to an upcoming volatility spike, which may be necessary in a recovery rally.
Memecoins have a chance for a reversal rally in the upcoming months, since the recovering sentiment of the industry will most likely lead to investors’ risk demand and memecoins are the most risky assets in the whole industry.
At press time, Dogecoin is trading at $0.0695 and is losing around 0.1% of its value, which is an insignificant value considering the lack of volatility in the weekend trading session.
