Bulls push Dogecoin price higher as community fights FUD and impersonators

Dogecoin Foundation's Timothy Stebbing offered the community a new tool to fight the uncertainty in DOGE price using Dogepedia.
Dogecoin price attempts to break out of a multiyear downtrend, offering 4.5% gains overnight.
Analysts believe Dogecoin price is at a crossroads, and a rally could follow on one specific condition.

Timothy Stebbing introduced a new tool in the Dogecoin community's arsenal to tackle Fear, Uncertainty and Doubt (FUD) about DOGE. The meme coin started recovering after the FOMC rate hike announcement and recouped its losses from the past two weeks.

Also read: Dogecoin: A tool of speculation or starter drug for crypto

Dogecoin Foundation announces Dogepedia

Dogepedia, a comprehensive directory of all things Dogecoin, introduced by Timothy Stebbing, the product lead at Dogecoin Foundation. Dogepedia is complete with Dogecoin guides and FAQs. Unlike Wikipedia, the content is not user-generated; instead, it is maintained by the Dogecoin Foundation.

The announcement reads:

Dogepedia is the resource containing Documentation, Guides, FAQs and Resources related to Dogecoin. The place to be for all scribes trying to learn about Dogecoin and crypto. Such knowledge! Much wow!

Dogepedia will help users identify Dogecoin impersonators and fight the ecosystem's FUD. Each section contains links and details on each topic. Interestingly, the FAQ and FUD section address criticism on multiple levels and address the narrative that "Dogecoin is a joke."

The section reads:

Despite Dogecoin's genesis as a joke, though, more and more people are beginning to realize Dogecoin's utilitarian value as a legitimate, efficient, and functional currency.

Hey #dogecoin, there's a new weapon in the war against dogecoin FUD, we call it the Dogepedia!
https://t.co/Lf1ZJWdg46

How to use:
1. encounter FUD
2. link article from dogepedia
3. 9999 emotional damage pic.twitter.com/5eLdUjpbyL
— Timothy Stebbing (@tjstebbing) July 27, 2022

Impersonators line up against Dogecoin

Cryptocurrency meme coins and metaverse tokens that mimic Dogecoin have witnessed a spike in adoption. Dogecoin's rising utility and popularity have resulted in capital rotation in impersonators and competitors within the crypto ecosystem.

SDOG, renDOGE, The Doge NFT, ShibaDoge, Doge Elon and Doge Token are a few impersonators that have witnessed a spike alongside the rally in DOGE. The Dogecoin community is now equipped to tackle impersonators through FAQs and detailed information contained within guides on Dogepedia.

Analysts predict rally in Dogecoin

Analysts at FXStreet believe Dogecoin price is at a make-or-break point, and the meme coin is ready to break out of its multi-year trendline. Dogecoin price posted double-digit gains over the past two weeks, and is ready for a recovery.

For price targets and more information, check this video:

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.