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$DOGE has reached the resistance area, and the price is now trying to break above this level. Wait for some time for confirmation before entering new positions. If the price holds above $0.25, we will open long positions.
Dogecoin (DOGE) is a cryptocurrency created in December 2013 by software engineers Billy Markus and Jackson Palmer as a satirical take on the burgeoning digital currency market. Inspired by the popular "Doge" meme featuring a Shiba Inu dog, Dogecoin was intended to be a fun and approachable alternative to Bitcoin. Despite its humorous origins, it quickly gained traction, developing a strong online community and achieving a market capitalization exceeding $85 billion by May 2021. Dogecoin operates on a decentralized, open-source blockchain using a proof-of-work consensus mechanism and the Scrypt algorithm, which allows for faster transaction times compared to Bitcoin.