(VIANEWS) – On Wednesday, Jackson Palmer, the co-creator of dogecoin, slammed the cryptocurrency sector as a right-wing, hyper-capitalistic instrument and said that he will never return to the business.

Cryptocurrencies, he claims, take the worst aspects of today’s economic system – corruption, fraud, and inequality – and limit regulation, audits, and taxation through software.

Palmer and co-creator Billy Markus launched dogecoin in 2013 as a satire on the larger crypto industry. Markus and Palmer had no intention of taking dogecoin seriously, and both have left the space and liquidated their shares.

Dogecoin (DOGE-USD) Cryptocurrency is currently on bullish momentum by 16.72% in the last 6 hours. At 15:45 EST on Saturday, 17 July, Dogecoin (DOGE-USD) is at $0.2059.

Volume

Today’s last reported volume for Dogecoin is 2412286996, 67.32% below its average volume of 7380987067.03.

All-Time High and Low

Dogecoin’s current value is at $0.21, 72.27% below its all-time high of $0.73 on Saturday, 8 May.

Dogecoin’s current value is at $0.21, 233312.38% above its all time low of $0.73 on Wednesday, 6 May.

Market Cap and Supply

Dogecoin’s current market cap is 26167967881.

Dogecoin (DOGE-USD) Range

Regarding Dogecoin’s daily highs and lows, it’s 21.09% up from its trailing 6 hours low of $0.1700 and 1.97% down from its trailing 6 hours high of $0.2100.

Social Status

Currently, Dogecoin (DOGE-USD) has 1963581 Twitter followers and 2116260 Reddit subscribers.

As of now, on Github, there are 2211 forks, 12295 stars, and 849 subscribers.

Volatility

Dogecoin’s last week, last month’s, and last quarter’s current volatility was a negative 2.22%, a negative 1.33%, and a positive 10.02%, respectively.

Dogecoin’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 3.45% (last week), 4.89% (last month), and 10.02% (last quarter), respectively.

Crypto Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Dogecoin’s crypto is considered to be overbought (>=80).

News about Bitcoin

Bitcoin seen as reason for sliding Tesla correlation to big tech. According to Bloomberg Quint on Thursday, 15 July, “Tesla has since sold a portion of the holdings, and Musk has emerged as a critic of Bitcoin for reasons including energy consumption.”, “Tesla Inc.’s shares have become less correlated with those of large U.S. technology companies ahead of the electric-vehicle maker’s earnings report and Bitcoin may be the reason why.”

Bitcoin found a happy match in the traditional 60/40 portfolio. According to Bloomberg Quint on Thursday, 15 July, “Earlier this year, analysis by JPMorgan Chase & Co. suggested that exposure to Bitcoin could achieve an efficiency gain in risk-adjusted portfolio returns.”

Bitcoin slides while chatter about central bank rivals increases. According to Bloomberg Quint on Thursday, 15 July, “Meanwhile, hardcore enthusiasts who have been arguing that Bitcoin and some other cryptocurrencies are a hedge against rising consumer prices and excessive money printing from global central banks are seeing that argument put to the test amid hotter-than-expected inflation prints in the U.S.”, “That challenges Bitcoin in a way, it challenges the dominance of Bitcoin but it actually adds credibility to the whole idea of digital currencies.”

More news about Dogecoin (DOGE-USD).

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