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Dogecoin

DOGE
$0.0980
+1.38% (24h)

Market Stats

Price
$0.0980
+1.38% (24h)
Market Cap
$15.1B
Volume (24h)
$2.71B
Supply
153.86B DOGE
FDV
$15.08B

Shariah Analysis

Grey
Project
Token
Reward

The coin was created as a meme and it triggered an issue in shariah's perspective which concerns the legitimacy of the project. Legitimacy in shariah is very important to avoid gharar transactions and scam activities. However, as DOGECOIN has been rapidly developed, and consumers are using the coin for daily transactions, we considered that DOGECOIN is legit and neutral as it only acts as a store of value same as Bitcoin.

Last Screening: Q3 2023

Risk Analysis

Shariah

Compliance Score

--

--

Legitimacy

Project Score

--

--

People

Team Score

--

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In-Depth Analysis
Project Token Reward System Legitimacy
Project/Products Use Case Status
Meme Coin Initially created as a meme coin. Dogecoin's rapid development and growing adoption for daily transactions have led to its recognition as a legitimate and neutral store of value, akin to Bitcoin. Grey
Open-Source Software Ecosystem Dogecoin has an open-source software ecosystem for Dogecoin Core, facilitating transparency and encouraging contributions from individuals with technical expertise. Passed
Note: From Sharlife's perspective, meme coins carry risks that contradict Shariah principles. According to Sharlife, these tokens lack clear utility and genuine use, making them questionable in meeting Shariah criteria. One of the fundamental principles in Shariah is that only assets with genuine benefits and utility can be traded.

Technical Analysis

Support & Resistance
Support 2
0.08916
Support 1
0.09002
Last Price
0.09219
Resistance 1
0.10314
Pivot Points
Support 2
0.09002
Support 1
0.0911
Pivot Point
0.09272
Resistance 1
0.09381
Resistance 2
0.09543
Trading Signals
42 indicators
Trend
Moving Average (Mid Term) Weak
Ichimoku Cloud Neutral
Momentum
Relative Strength Index Weak
Moving Average Convergence/ Divergence Weak
Vol & Volatility
On-Balance Volume Strong
Average True Range Strong
Signal strength 40 / 100
Moving Average (Short Term) Weak
Moving Average (Mid Term) Weak
Moving Average (Long Term) Weak
Exponential Moving Average (Short Term) Weak
Exponential Moving Average (Mid Term) Weak
Exponential Moving Average (Long Term) Weak
Bollinger Band Weak
Williams %R Neutral
Relative Vigor Index Weak
Money Flow Index Neutral
Chaikin Oscillator Weak
Aroon Strong
Klinger Oscillator Strong
Chande Kroll Stop Weak
Moving Average Convergence/ Divergence Weak
Relative Strength Index Weak
Stochastic Weak
Parabolic SAR Weak
Average Directional Index
Ichimoku Cloud Neutral
Average True Range Strong
Commodity Channel Index Neutral
On-Balance Volume Strong
Volume Weighted Average Price Neutral
Keltner Channel Neutral
Dochian Channel Neutral
Choppiness Index Weak
Ergodic Oscillator Strong
Ease of Movement Weak
Ultimate Oscillator Neutral
Elder Force Index Strong
Connors RSI Neutral
Rate of Change Weak
Chande Momentum Oscillator Neutral
Triple Exponential Average Weak
Know Sure Thing Weak
Detrended Price Oscillator Weak
Moving Average Envelope Neutral
Coppock Curve Weak
Vortex Indicator Weak
Schaff Trend Cycle Strong
Elder Impulse System Weak

AI Price Prediction

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AI-generated analysis only. Not financial advice.

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Community Sentiment

Community Discussion (1)

Please login to join the discussion.
Irfan
1 year ago

Should be halal now

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1
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About Dogecoin

Dogecoin is a community-driven cryptocurrency originally inspired by a meme featuring the Shiba Inu dog. Its open-source nature allows anyone to participate in its development, and it operates on the Scrypt hashing method for Proof of Work, similar to Bitcoin. Initially created as a meme coin, Dogecoin has evolved rapidly, gaining recognition as a legitimate and neutral digital asset used for daily transactions. It acts as a store of value, and its development process is publicly visible, encouraging contributions from individuals with technical expertise.

Consensus Mechanism

Proof of Work