Dogecoin (DOGE) Adoption Continues Are the holders Still Light-Hearted?

The entire digital currency economy is down.  Google trends indicate that the interest in meme coins like Doge Coin and Shiba Inu is decreasing as the meme coin economy has shed significant value in recent times. At this point in time, it is important to realize that Dogecoin is a light-hearted token and its popularity mainly came from its playful holders, but it just looks like just like many other crypto Doge holders are now only keen about price increase.

While Doge Coin has been trending with bullish pattern for over a year, the bullish trends might come to an end.  A falling wedge pattern is seen on the technical charts.  Technically, this can lead to a 60+% upswing; however, considering the bearish outlook of the cryptocurrency market this can lead to a crash.  Explosive gains for early investors are possible if the bullish set up is well established.  However, the Doge Coin price points have failed the demand zone six times.

If there kicks in a 30% pull back in price, buyers might rush in to save grace; however, the bullish promise by the “falling wedge” will be undone if the pullback happens.  There seems to be no validation for the uptrend.  The bears in reality are continuing to force the price down.

While Dog coins like Doge and Shiba are slowing down and are becoming whether new meme tokens will capture their market share by offering promising features is something we need to wait and see.

Previously, Doge Coin Whale Accumulation increased when optimism increased around the token following the Elon Musk $44 billion acquisition of Twitter. Elon Musk has been known well to move cryptocurrency prices, particularly the Dogecoin.

Adoption of Dogecoin in payment is widely reported in the recent days. The price drop has not hindered the scope for widespread adoption of the DogeCoin.

• About 455 million Wordpress websites will now accept Dogecoin.
• The curiosity around whether Elon Musk will permit Usage of Dogecoin for Twitter Blue Premium Subscription Payment transactions continue to exist.
• Reportedly, the famous brokerage app Robinhood is continuing to hold Dogecoin on behalf of its clients, according to DogeWhaleAlert, which is a Twitter account focused on DOGE transactions.

It is also getting listed in several new exchanges.  Bitso is the latest in the line of exchanges to extend its support for Dogecoin.

The recent technological improvement about Dogecoin is about Dogecoin being sent using Starlink Sattellite Network and Radio Towers.