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Dogecoin Highlighted as LunarCrush Coin of The Day

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Dogecoin has been mentioned as the LunarCrush Coin of the day, as it leads as the highest gainer on the top 40 list, with a 24-hour surge of over 8%.


Dogecoin (DOGE) is officially the LunarCrush coin of the day amid propitious market movements and increased social activity complemented by positive sentiments. The asset has also surged by over 8% in the past 24 hours, leading as the top gainer on a 24-hour timeframe amongst the top 40 assets by market capitalization.

“Today’s Coin of the Day is Dogecoin,” LunarCrush revealed in a tweet Friday, as it disclosed DOGE’s metrics about social activity and market performance.

 

Data from Lunar Crush’s assessment of DOGE further reveals that the asset has a Galaxy Score of 50%. The LunarCrush Galaxy Score considers the asset’s price score, social impact score in the past 24 hours, average sentiment, and correlation rank.

Additionally, DOGE secured a lofty 6th position on LunarCrush’s AltRank out of 3,994 mainstream assets evaluated in the past 24 hours. The LunarCrush AltRank considers a token’s social activity within its community comparable to other mainstream assets. The DOGE community has been recently awakened amidst a healing market. On Wednesday, LunarCrush disclosed that DOGE was the 8th asset on its list of top coins by AltRank.

Meanwhile, Dogecoin has constantly been surging in value in the past 7 days amid hints of a gradual decline of the apprehension provoked by the FTX saga. While there appears to be a market-wide rejuvenation, DOGE has gained the most amongst the top 40 assets by valuation in the past day, having surged by 8.85%.

With an increase of 3.97% in the past seven days, DOGE currently trades at $0.088. The asset’s journey to reclaim the $0.9 price point seems difficult due to the uncertainties surrounding the cryptocurrency space as of press time. Notwithstanding, it is not impossible, especially if the bulls maintain a sustained rally for the next few days.

DOGE currently maintains a position above the 100-day moving average, indicating potential strength in its current rally, which could support its expedition to the next resistance point at $0.09. The asset has faced a series of rejections today at the $0.09 territory as it seeks to conquer it.

Additionally, data from IntoTheBlock reveals that the majority of DOGE holders – about 57% – are currently in profit at their current price point, with 6% at a breakeven point and 37% in the loss. DOGE appears to have outperformed most assets, including BTC and ETH, recently. These metrics contribute to the asset’s positive sentiments.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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