- Dogecoin price is being pressed down by the weight of the 50-day simple moving average (SMA).
- DOGE may close today with the biggest gain since the July 21 breakout from the May descending trend line.
- Oscar Mayer taps the Dogecoin fever with a limited edition pack of Hot Doge Wieners.
Dogecoin price action has been uneventful since the July 21 breakout, offering few clues about directional intentions. The lack of volatility has resulted in several doji candlestick patterns on the daily charts, signifying that DOGE speculators are uncertain and reluctant to accumulate the meme token despite the booming returns for Ethereum and Bitcoin. Thus, with no sustainable bid, Dogecoin is vulnerable to a break to the downside if the cryptocurrency complex is hit with selling pressure.
Dogecoin enthusiasts have the opportunity for a DOGE hot dog
Oscar Mayer, the famous brand for wieners, announced on August 4 that it has a “limited-edition pack of Hot Doge Wieners” with a cash value of 10,000 Dogecoins, which equates to around USD 2,050 at the current price. To amp up the interest, Oscar Mayer produced only one pack that was put up for bid on eBay at a starting bid of USD 0.99.
BEHODL This limited-edition pack of Hot Doge Wieners that comes with the cash value of 10,000 Dogecoins There’s only one pack in existence… and it can be yours Bid it for a chance to get it at https://t.co/ZrrUxfjPPs pic.twitter.com/FHWGhpGthF
— Oscar Mayer (@oscarmayer) August 4, 2021
