House of Doge, the corporate division of the Dogecoin Foundation, has established the Official Dogecoin Reserve to enhance the cryptocurrency’s role as a widely accepted global payment solution. House of Doge has acquired 10 million Dogecoin at its current market price to initiate the reserve, reinforcing its commitment to increasing liquidity and transaction efficiency.
Source: X
The reserve aims to address key challenges in digital payments, including transaction processing times. By demonstrating Dogecoin’s capability for seamless transactions, House of Doge seeks to position the cryptocurrency as a practical alternative to traditional payment methods. This initiative aligns with the organization’s broader goal of making Dogecoin a scalable and reliable medium of exchange.
Dogecoin’s Market Performance
Dogecoin’s price has increased to $0.1850, marking a 5.14% gain in the last 24 hours. The cryptocurrency has broken out of a triangular pattern, signaling potential upward movement. Market capitalization has grown by 4.94% to $27.49 billion, while trading volume has surged over 110% to $1.57 billion.
Source: Coinmarketcap
According to analysts, Ali charts predict that Dogecoin’s breakout could lead to a further 16% increase, continuing its bullish trend. The cryptocurrency has been trading within a critical range, with resistance at $0.46 and support near $0.15. Investors are closely monitoring its price movement for further market developments.
Market Sentiment and Trading Activity
Dogecoin (DOGE) has been trading within a crucial range, facing resistance at $0.46 and support near $0.15. After a strong rally and subsequent correction, DOGE is consolidating—leaving traders wondering if another breakout is on the horizon.
Source: Tradingview
Dogecoin (DOGE) shows its liquidation trends throughout time as long liquidations appear in green, short liquidations appear in red while the DOGE price displayed in yellow. The price surged in Dogecoin during early December and early February triggered major long liquidation spikes because traders lost huge amounts when betting against the price rise.
Source: Coinglass
The price drops during mid-November and early March trigger significant spikes in short liquidations which force traders to sell their leveraged long positions. The DOGE market showed high price fluctuations where prices reached $0.40 then fell to $0.20 which led to regular liquidations when prices made major shifts.
