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Dogecoin Started as a Joke. Now It's Rallying
Dogecoin was created in 2013 as an homage to Bitcoin, with a goal to make crypto traders chuckle. The coin was presented with an internet meme of a Shiba Inu dog who couldn't spell (hence "doge" instead of "dog"). It's price barely ever moved.
But now the internet is going crazy over dogecoin, and even though it only trades for $.07 a coin, its market capitalization is still around $9 billion -- making it more valuable than Under Armor. What happened?
For one, Elon Musk's Twitter account happened. Over the last few weeks, Elon Mush has been tweeting about Dogecoin, sometimes cryptically and for no apparent reason. He has tweeted an internet meme based on the Lion King, written "who let the Doge out," and an instructional video titled "D is for Dogecoin." Musk also has other celebrities joining the parade -- Snoop Dogg has shared memes and tweets, and the lead singer of the band Kiss, Gene Simmons, has declared himself the God of Dogecoin. The coin's price is now up over 1,500% for the year.
At the end of the day, however, Dogecoin is still not a serious cryptocurrency, and does not have the global reach and disruptive functionality that Bitcoin, Ethereum, and Litecoin do (for instance). Even still, it is gaining the eyeballs of traders, so it's worth taking a look at an A.I.-powered analysis of Dogecoin vs. Bitcoin vs. Ethereum. Keep scrolling for the results.
BTC.X's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for BTC.X turned positive on May 20, 2022. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in 35 of 58 cases over the following month. The odds of a continued upward trend are 60%.
Current price $28815.23 crossed the resistance line at $29773.43 and is trading between $29773.43 resistance and $28729.92 support lines. Throughout the month of 05/04/22 - 05/26/22, the price experienced a -26% Downtrend. During the week of 05/21/22 - 05/26/22, the crypto fell -0.56%.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BTC.X's RSI Oscillator exited the oversold zone, 19 of 37 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 51%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 40 of 75 cases where BTC.X's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 53%.
Following a +3.85% 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in 254 of 477 cases, the price rose further within the following month. The odds of a continued upward trend are 53%.
BTC.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Momentum Indicator moved below the 0 level on May 23, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on BTC.X as a result. In 51 of 116 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 44%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 46%.
The Aroon Indicator for BTC.X entered a downward trend on May 19, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 14.00% within the next month with a likelihood of 46%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.23.
DOGE.X in -6.44% downward trend, sliding for three consecutive days on May 26, 2022
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where DOGE.X declined for three days, in 248 of 447 cases, the price declined further within the following month. The odds of a continued downward trend are 55%.
Current price $0.08 is below $0.08 the lowest support line found by A.I. Throughout the month of 05/04/22 - 05/26/22, the price experienced a -42% Downtrend. During the week of 05/21/22 - 05/26/22, the crypto fell -7%.
The Momentum Indicator moved below the 0 level on May 23, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on DOGE.X as a result. In 65 of 125 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 52%.
DOGE.X moved below its 50-day Moving Average on April 29, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for DOGE.X crossed bearishly below the 50-day moving average on May 02, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 6 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 38%.
The Aroon Indicator for DOGE.X entered a downward trend on May 19, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator entered the oversold zone -- be on the watch for DOGE.X's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Indicator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The Moving Average Convergence Divergence (MACD) for DOGE.X just turned positive on May 24, 2022. Looking at past instances where DOGE.X's MACD turned positive, the stock continued to rise in 32 of 50 cases over the following month. The odds of a continued upward trend are 64%.
Following a +2.53% 3-day Advance, the price is estimated to grow further. Considering data from situations where DOGE.X advanced for three days, in 253 of 398 cases, the price rose further within the following month. The odds of a continued upward trend are 64%.
DOGE.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 14.00% within the next month with a likelihood of 48%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.76.
ETH.X in -8.85% downward trend, falling for three consecutive days on May 26, 2022
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where ETH.X declined for three days, in 217 of 387 cases, the price declined further within the following month. The odds of a continued downward trend are 56%.
Current price $1734.84 crossed the support line at $1909.80 and is trading between $1909.80 support and $1546.92 support lines. Throughout the month of 05/04/22 - 05/26/22, the price experienced a -39% Downtrend. During the week of 05/21/22 - 05/26/22, the crypto fell -9%.
The Momentum Indicator moved below the 0 level on May 23, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on ETH.X as a result. In 57 of 119 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 48%.
The 10-day Moving Average for ETH.X crossed bearishly below the 50-day moving average on April 24, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 20 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 40%.
The Aroon Indicator for ETH.X entered a downward trend on May 19, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator entered the oversold zone -- be on the watch for ETH.X's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Indicator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Moving Average Convergence Divergence (MACD) for ETH.X just turned positive on May 22, 2022. Looking at past instances where ETH.X's MACD turned positive, the stock continued to rise in 39 of 61 cases over the following month. The odds of a continued upward trend are 64%.
Following a +4.17% 3-day Advance, the price is estimated to grow further. Considering data from situations where ETH.X advanced for three days, in 286 of 451 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
ETH.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 14.00% within the next month with a likelihood of 57%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.78.
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