Crypto News: The performance of Dogecoin (DOGE), Venom (VENOM) and ChainGPT (CGPT)

How are Dogecoin (DOGE), Venom (VENOM) and ChainGPT (CGPT) performing in the crypto market? 

Below is an in-depth look at their current and future prices, with a focus on the latest news on the subject.

Analysis of the cryptos Dogecoin (DOGE), Venom (VENOM) and ChainGPT (CGPT)

Recall that Dogecoin (DOGE) is the crypto whose logo is graphically based on an Internet meme representing a Shiba dog, made famous thanks to the support of Elon Musk. 

Venom, on the other hand, is the world’s first regulated blockchain. The decentralized network operates under the jurisdiction of the ADGM, with a license to issue utility tokens.

CGPT, finally, is the token of ChainGPT, a token recently launched on the BSC chain and then listed on the famous Bitget exchange.

Dogecoin crypto under negative pressure: will Venom and CGPT be as well? 

According to CoinMarketCap data, crypto Dogecoin (DOGE) has been under negative pressure over the past 24 hours, with the price falling from $0.07905 to $0.07763. 

Should the negative pressure break through the $0.07763 support level, the next level to watch would be $0.076. 

On the other hand, if the bullish momentum prevails and the $0.07905 resistance level is breached, the next resistance level to watch would be $0.0805. 

For now, the bears still have the upper hand, as DOGE is trading at $0.07828, down 0.60 percent.

During the decline, DOGE’s market capitalization and 24-hour trading volume fell by 0.65 percent and 18.79 percent, respectively, to $10,895,795,721 and $261,691,916.

Dogecoin price chart (DOGE/USD)

In addition, the Keltner Channel Bands are moving south, with the upper band at $0.0818 and the lower bar at $0.0768, indicating that DOGE’s volatility has decreased and that the price is likely to trade within this range in the short term.

Therefore, if and when the price action moves below the middle bar, traders can interpret this as a bearish signal and look for potential selling opportunities. 

Conversely, a rise above the middle bar could signal bullish sentiment and prompt buy orders.

The MACD line is moving south and below its signal line with a value of -0.006, indicating that the negative momentum in the market is strengthening and traders may consider selling their holdings to avoid significant losses.

Venom and the launch of its public testnet 

Venom Blockchain’s newly launched public testnet will allow developers and users to test and debug dApps and blockchain protocols, helping to foster innovation and community building within the ecosystem.

The Venom testnet ecosystem includes a number of proprietary features and applications, including Venom Wallet, Venom Scan, VenomPools, Venom Bridge, and others for users to test. 

It also aims to encourage developers to create innovative dapps, allowing users to experience the Venom blockchain first-hand. 

To participate in the testnet, users can download Venom Wallet on mobile devices and request a free testnet allocation to begin exploring the ecosystem.

Venom boasts an ultra-fast speed of 100k TPS and a dynamic sharding feature that improves the network’s scalability and reliability, making it an attractive tool for developers. 

In addition, the network’s interoperability and low transaction fees make it user-friendly for global deployment.

Peter Knez, President of the Venom Foundation Council, had this to say:

“With our highly scalable and reliable asynchronous blockchain, we are confident that developers will be able to create innovative dApps, while users will be able to experience them firsthand.”

New CGPT token listed on Bitget 

As expected, the ChainGPT token (CGPT) was recently launched on the BSC chain.

Shortly after the launch, token’s price fluctuated between $0.13 and $0.21, but after the initial boom, it began to fluctuate first around $0.17 and then around $0.15. 

More specifically, ChainGPT is a blockchain-based artificial intelligence (AI) project. 

This model is designed exclusively for use on the blockchain and in crypto, using sophisticated algorithms and high-speed computing capabilities to handle all kinds of tasks. 

In addition, ChainGPT aims to enable users to quickly obtain any knowledge and information they need in the cryptographic domain, similar to how the popular AI chabot ChatGPT works.

In any case, as expected above, cryptocurrency exchange Bitget has recently included ChainGPT (CGPT) in its Innovation Zone, the section of the exchange dedicated to new trending tokens, which is given a 60-day evaluation period for all newly listed pairs. 

However, if these pairs do not meet Bitget’s market criteria, such as market depth and liquidity, they will be removed. So all that remains is to wait and see what will happen with the CGPT token.