Dogecoin Fails To Surge Despite These Major Announcements
Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE) price has been trading under huge selling pressure for a while. Meanwhile, the coin printed some green indexes as the global market saw some recovery.
Dogecoin issues new update
In order to boost the Dogecoin utility, its team announced a new update. It mentioned that Core 1.14.6 is out now and running live. This will bring a good number of improvements to Dogecoin. While it will also add some new features to the UI.
The release added that this release will be including important security updates and some changes to network efficiency. The team asked all core users like miners, service, and wallet users to upgrade it. However, the upgrade will change the dust limit on the network from 1 DOGE to 0.01 DOGE.
Earlier, Elon Musk in a quarterly investor call said that Tesla sold around 75% of its Bitcoin holdings in the second quarter. Meanwhile, he also mentioned that they haven’t sold any of their Dogecoin holdings and they are still holding the same amount.
Has Tesla added DOGE to its holdings?
DOGE price didn’t react to any of these announcements. In fact, its price dropped by around 7% in the last 24 hours. Seems like Musk’s influence over the DOGE is vanishing with time. He has been very vocal displaying his support for the meme coin.
Dogecoin is trading at an average price of $0.0688, at the press time. Its 24 hour trading volume also dropped by 26% to stand at $689 million. However, DOGE registered some price recovery of 15% over the past 7 days.
Musk has opened up about its Dogecoin holding in the past. However, he has not indicated that Tesla holds it. The EV giant has been accepting the DOGE as the payment for some of its merchandise.
Meanwhile, it is still unclear whether Tesla added Dogecoin to its portfolio or if it is holding some crypto used for merch purchases.
- Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown
- Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces
- Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes
- Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up
- Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
