Dogecoin (DOGE) Targets Blockbuster Spider-Man..."Needs to earn 11 more times to catch up"

▲ Dogecoin (DOGE)/ChatGPT generated image

Dogecoin (DOGE) challenged Spider-Man, which set a box office record of $927 million, stating, "You need to earn 11 more times to catch up."

According to crypto media outlet Benzinga on August 5 (local time), Dogecoin's official X (formerly Twitter) account mentioned the opening performance of the movie Spider-Man: Brand New Day, stating, "Spider-Man recorded the largest opening weekend in movie history. To catch up with Dogecoin, it needs to do it about 11 more times."

Spider-Man: Brand New Day earned $927 million globally on its opening weekend. According to Deadline's tally, it is the second-largest global opening of all time, following Avengers: Endgame's $1.22 billion. In North America, it grossed $360 million, surpassing the previous record held by Endgame. Dogecoin's market cap is approximately $10 billion, which is about 11 times $927 million.

Network activity showed signs of recovery, contrary to the price weakness. According to crypto analyst Ali Martinez, Dogecoin's weekly active addresses increased by 16% from 38,000 to 44,000. Whale investors additionally purchased 200 million DOGE, worth approximately $14 million, on Robinhood Markets (HOOD).

The price trend remains bearish. Dogecoin fell to $0.0697 on Tuesday, dropping below the $0.07 level it had maintained for weeks. The $0.07 level has flipped from support to resistance, and the midline of the downtrend channel that began in June points to $0.055 in September. The Parabolic SAR is at $0.072, and all four exponential moving averages also acted as resistance above the price.

[Article Key Summary]

-Dogecoin's official account challenged Spider-Man, which earned $927 million, stating that it needs to record the same box office success 11 more times to catch up with Dogecoin's market cap.

-Dogecoin's weekly active addresses increased by 16% from 38,000 to 44,000, and whales additionally purchased 200 million DOGE.

-Dogecoin lost the $0.07 level, and the downtrend channel points to $0.055 in September.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*