DogeCoin Union: dogecoin the new bitcoin

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As a challenge video about Dogecoin went viral in TikTok, the token's trading volume soared to $27 million on the exchanges that supported it, 22 times the average daily volume in 2020 and up 600% between July 6 and July 7. In addition, according to Google Trends Analytics, "dogecoin" had 100 Google searches on July 7.

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In this way, the internet legend shifted from Doge to Dogecoin. On December 6th, on BitcoinTalk, a well-known Bitcoin forum, a new member named Dogecoin posted a message about a competitive coin named Dogecoin, which Chinese translates as a dog coin, cute and memorable. The title of the post is Dogecoin - very currency - many coin - wow - v1.1 Released, and the style of the teaser is in line with Doge's.

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However, analysts believe a number of factors could prompt shorts to regain control. Most notably, technical analysts quoted yesterday's "doji candle" in the daily chart, which is characterized by an almost equal opening and closing price. The cross-star candle in the technical chart analysis indicates market uncertainty and may now indicate a return to a bearish trend.