Dogecoin is the fourth most popular crypto used for BitPay transactions, here’s what to expect from the DOGE price

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Dogecoin price is on track to generate double-digit gains for holders as the meme coin ranks as the fourth most popular cryptocurrency on BitPay. BitPay is one of the largest payment processors in the world, and DOGE is on track to see a spike in its utility and adoption. Dogecoin price is poised to break out of resistance at its 50-day exponential moving average at $0.07203.

Dogecoin, the biggest meme coin in the crypto ecosystem, is on track to generate double-digit gains for holders. BitPay, one of the largest crypto payment processors, reveals that DOGE is the fourth largest cryptocurrency by usage.

Also Read: XRP Bulls Target $0.35 as SEC Legal Battle Against Ripple Reaches Final Deadline

Dogecoin Ranks #1 in Popularity Among BitPay Users

Dogecoin, a Shiba-Inu themed coin with a market cap of nearly $10 billion, is one of the most popular cryptocurrencies on payment processor BitPay. BitPay is an Atlanta-based bitcoin and crypto payment service provider, founded in May 2011.

According to data from crypto payment processor BitPay, DOGE is currently the fourth most popular cryptocurrency used for transactions in BitPay, a leading crypto payment processor.

BitPay crypto payment account

Dogecoin has found a spike in its usefulness and adoption, 6.17% of all BitPay transactions involve the use of DOGE.

Dogecoin price is on track to challenge resistance at $0.0720

The eighth-largest cryptocurrency by market capitalization is on its way out of its descending channel. The 50-day exponential moving average (EMA) is currently acting as resistance for the coin meme. It is in a downtrend and C,$0.0790 is the target for the eighth largest cryptocurrency by market cap.

DOGE/USDT Price Chart

As seen in the Relative Strength Index (RSI), the momentum indicator reads at 53.42, the asset is in the neutral zone. The descending channel has two key levels, A where price has moved lower, $0.0864 and B where DOGE price has reached the lower trendline forming the descending channel at $0.0712.

DOGE price is ready to target the $0.0790 level. A drop below $0.0712 could invalidate the bullish Shiba Inu killer thesis.

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