- MyDoge wallet, exclusively made for Dogecoin, was recently released publicly for iOS users.
- The Vice Prime Minister of Ukraine announced that the war-torn nation has started accepting donations in Dogecoin.
- Dogecoin price struggled to recover from recent drop despite rising utility and adoption.
Dogecoin price tumbled in the recent crypto market bloodbath, posting 4% losses over the past day. Analysts have a bearish outlook on the meme coin, predicting a further price drop.
Dogecoin price could continue downtrend as bloodshed continues
The recent bloodbath in crypto wiped out $200 billion from the market. Dogecoin price plummeted in the bloodshed, posting 4% losses over the past week. Dogecoin co-creator Billy Markus confirmed the launch of MyDoge, a wallet for iOS users.
The wallet application supports transfers from any cryptocurrency exchange. Markus revealed that Dogecoin developers did not develop the application. Instead, an autonomous designer group worked on it.
Clients running Apple devices can access Dogecoin through the wallet. The developers of MyDoge wallet have developed it as a “Social Wallet for the People’s Currency,” offering free, secure, and non-custodial services.
Proponents expected the launch of MyDoge wallet to facilitate further Dogecoin adoption to fuel a bullish narrative for the meme coin’s price. However, the Dogecoin price failed to recover from the drop.
Ukraine’s acceptance of Dogecoin donations further paved the way for users to utilize the meme coin.
Analysts have evaluated the Dogecoin price trend and predicted that the meme coin could soar soon. @AltcoinSherpa, a pseudonymous crypto analyst, believes that Dogecoin is in the buy zone.
$DOGE: Likely a good buy soon. If this starts to moon, look for some other doggy / meme coins. #DOGE pic.twitter.com/OQxyPRouDH
— Altcoin Sherpa (@AltcoinSherpa) March 3, 2022
FXStreet analysts have predicted that the Dogecoin price could plummet to $0.15. Analysts have observed that the Dogecoin price has been in a congestion zone for over 300 days now and argue that the equilibrium of time and price in the Dogecoin price chart implies a substantial move in the next 15 days.
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.
Recommended Content
Editors’ Picks
XRP holds steady above $0.47 as Ripple President breaks silence on Real USD stablecoin
Ripple President Monica Long recently appeared on The Block Podcasts and addressed XRP trader concerns about the stablecoin’s launch. The payment remittance firm’s stablecoin is called Real USD (RLUSD) and is slated for launch in 2024.
Bitcoin Weekly Forecast: BTC price correction could end in July, according to seasonal data
Bitcoin price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.
TON and Telegram narrative may be overvalued according to new research
Toncoin, Telegram narrative may be overestimated according to analysts at Blockworks Research. The social media messaging app has a relatively low number of daily active users, and no EVM compatibility.
Dogecoin price poised for 13% rally after finding support on a key level
Dogecoin price has stabilized around $0.118, aligning with the 200-week Exponential Moving Average (EMA), while on-chain data reveals a rising trend in DOGE's development activity, reflecting optimistic sentiment among investors.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.