Dogecoin Ready For A Move?

Dogecoin traded lower over 24 hours leading up to early Tuesday morning alongside other major altcoins. DOGE fell along with Ethereum, Cardano, and Solana, although Bitcoin was in the green at press time. Multiple analysts noted the reversal in Bitcoin’s trajectory on Monday, with Marcus Sotiriou, an analyst at GlobalBlock, noting that Bitcoin’s Relative Strength Indicator could suggest it’s time to buy. Benzinga’s Melanie Schaffer, however, noted that DOGE could be settling into a bear flag pattern on its daily chart, and if that is recognized, the cryptocurrency could drop. To negate that pattern, DOGE would have to reclaim the eight-day exponential moving average on its daily chart. DOGE was among the most mentioned coins on Twitter. Reflecting on gender-based buying in the coin, DOGE co-creator Billy Markus noted that Dogecoin and NFTs have a lot of female holders. He took a dig at Bitcoin maximalists, tweeting that “The maxis haven’t figured out that their white 20-to-45-year-old male club of sanctimony isn’t particularly inviting to the human race.”