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This major Dogecoin blogger bet on meme coin to reach $1 by end of this year, but he was wrong

This year, DOGE barked up many trees, which provided plenty of adoption opportunities for the canine coin.

The developers had to issue the denial notice following rumors that the team plans to “eliminate scrypt miners.” Even though the Dogecoin team has denied Rabid Mining's news, industry analysts have doubts about implementing a PoS switch for Dogecoin.

Top 10 Dogecoin (DOGE) wallets hold more than 48% of coin's total supply

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone.

Large cryptocurrencies were in the green on Thursday evening as the global cryptocurrency market cap rose 0.4% to $798.2 billion at 7:13 p.m. EST.  ​​

Dogecoin has once again emerged as one of the best performers for the year when it comes to the top 10 cryptocurrencies. The meme coin which enjoyed massive popularity in 2021 continues to hold on to gains even better than larger counterparts such as Bitcoin and Ethereum.

The denial was made after critics said the team was going to “kill scrypt miners.”

The Dogecoin price had recently faced intense selling pressure; however, over the last 48 hours, DOGE showed signs of recovery. At the moment, however, the meme coin was consolidating on its daily chart.

Michi Lumin, the leading developer for dogecoin, used Twitter to debunk speculations that dogecoin would switch to proof of stake.

Dogecoin (DOGE) is one of the meme coins that is often underestimated, primarily because of its extremely high volatility and low utility value. DOGE has trimmed off 8% of its value Dogecoin bulls aim to trigger price rally DOGE among most searched crypto DOGE has sloughed roughly 8% off the coin's value which plunged from $0.07751 to $0.06932.

The global market capitalization recently dropped below $800 billion as the fresh wave of bearish clouds hovered over the crypto space. The Dogecoin (DOGE) price also dropped considerably and presently trading along the lower support levels with depleted volatility and volume.

Dogecoin now ranks as second largest POW chain after Bitcoin

Traders and investors in Dogecoin (DOGE) have been gauging what 2023 will bring for the dog meme digital asset, which has gone through a rough patch in recent months. However, it has held up much better than most of the top assets on the market amid the severe crypto downturn in 2022.

Shiba Inu token soars almost 30% against Dogecoin in December, while Shibarium release approaches

Following the mid-week sell-off, it was a mixed start to the day this morning. DOGE adoption news failed to impress, with Twitter remaining the focal point.

Dogecoin's [DOGE] recent price correction led to about 9% of value shedding. DOGE dropped from $0.07749 to $0.06930.

As we approach the end of 2022, meme coin investments have taken off in a big way. Dogecoin (CRYPTO: DOGE) has emerged as the clear leader amongst investors, with a market cap of a phenomenal $10.71 billion.

It was a bearish mid-week session, with the crypto market tracking the NASDAQ Index into the deep red on Fed and recession fears and geopolitics.

Dogecoin remains the largest meme coin by market cap in the crypto market but its team and community continue to work toward more adoption of the digital asset. Over the last year, there have been multiple adoptions of Dogecoin as payment services among vendors and companies such as Tesla.

Investors continue selling small cryptocurrencies to end 2022.

Bitcoin and select altcoins have turned down from overhead resistance levels, indicating that bears remain in control.

It's an uphill battle for DOGE, as the developer team is grinding hard to provide new features for crypto lovers.

The Dogecoin (DOGE) price is approaching the convergence point between resistance and support of a bullish pattern. As a result, a decisive movement could occur soon.