- The popular meme coin’s Fear and Greed Index is giving a positive signal, while the dog cryptocurrency offers a buying opportunity.
Dogecoin (DOGE) Fear & Greed index 35 is showing, which means that the dog cryptocurrency has stepped into “fear” territory. This is also considered to be positive for the DOGE market.
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Dogecoin Fear and Greed index shows “fear”
Based on the current value shown by the Fear and Greed index of the original and most popular dog cryptocurrency Dogecoin, the indicator currently at 35 out of 100 is in the “fear” zone. This means that there is a lot of FOMO (fear of missing out) right now and the market will go up. Developing the index alternative.me According to the portal, this could indicate a buying opportunity for the token.
Dogecoin Fear and Greed Index is 35 – Fear pic.twitter.com/YOzk4Vf1gA
— Doge Fear and Greed Index (@DogecoinFear) August 25, 2022
Here’s what’s been happening at DOGE lately.
A Doge-Ethereum bridge is expected to be launched this year, as it has been making headlines lately. As a result of this development, users will be able to transfer DOGE to and from the Ethereum chain.
The bridge will be managed by a DAO, whose Genesis members are the Dogecoin Foundation, BitGo, Blue Pepper, and MyDoge. The bridge will allow DOGE to be used in smart contracts, decentralized finance (DeFi) applications and NFT marketplaces, thereby greatly increasing its utility/usability.
As a result of all these developments by the team, the adoption of Dogecoin is also increasing. The meme coin, which is making progress in listing, recently launched its St. Vincent and the Grenadines, as well as the BlueBit.io exchange, which has offices in Dubai and was established this year. Before that, the platform was a DOGE competitor. Shiba Inu (SHIB) also listed.
Coinstar support to DOGE
As reported earlier this week, Dogecoin Stellar (XLM), Litecoin (LTC) and along with other popular altcoins Coinstar chain Added to crypto ATMs by Coinstar partnered with Coinme exchange four years ago to start offering operations to convert money to crypto to its customers, and the experiment has been so successful that the company continues to slowly add more and more cryptocurrencies to its ATMs.
Last October, the Walmart retail giant installed 200 Coinstar ATMs in its stores, as a result of which consumers now have the opportunity to buy crypto in US grocery stores.
240 million Doges are moved by anonymous users
Anonymous wallets have moved close to 200 million Dogecoins between them in the past few hours, according to several recent tweets by the @DogeWhaleAlert Twitter account. The two transfers, carrying 100,029,474 and 99,999,950 DOGE, were worth $6.8 million and $6.9 million in fiat, respectively.
The third transaction, which moved 40,246,379 DOGE (worth $2,787,826) at the time of the transaction, was made about 20 hours ago. The fees charged for these transfers were very small ($0.07 to $0.31) compared to what banks usually charge for daily transactions. The fee for just one of the transfers came in at a relatively high amount of $8.72, yet this transaction fee is quite low compared to what banks would charge to move $7 million.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.