DOGE News: Z Squared Merges with Biopharma Company to Boost Dogecoin Mining

In the latest DOGE news, there has been an announcement from the DOGE mining company Z Squared. Based on this announcement, the company, in a surprising turn of events, is merging with the biopharmaceutical company Coeptis Company. According to this Dogecoin news, the company resulting from this merger will continue mining operations. However, the biopharmaceutical company Coeptis will become a separate entity and will be operated as a Will this merger create the largest Dogecoin mining company? This company will become one of the giants in Dogecoin mining as its value increases, making it one of the largest companies in this field. According to this DOGE news, the contract will be finalized by the third quarter of this year at the latest. This will create a mining company with over 9,000 mining rigs, specifically designed for DOGE mining. Such development could also generate excitement in the community, causing the price of DOGE to rise. The merger also forced the former CEOs to resign, and David Halabu became the new CEO. This move will also be very costly, causing the final entity to go public. The CEO of Z Squared also issued a statement regarding this merger. "Going public allows us to access a broader capital market to drive the growth of our mining operations and pursue additional strategic opportunities that we believe will benefit shareholders." This announcement is not favorable for COEP as the company's stock value has decreased by nearly 38%. How does mining Dogecoin compare to mining Bitcoin? The process of mining Dogecoin is similar to BTC, as this memecoin is a parody of the main cryptocurrency. This mining process involves miners completing a mathematical problem to move on to the next block. Such a mining method is known as the Proof-of-Work consensus mechanism and rewards anyone who solves a block earlier. Ironically, although it was originally a parody, the price of DOGE and its market capitalization have increased significantly since its launch. This has made Dogecoin the eighth largest cryptocurrency in the cryptocurrency market. With over 27 billion dollars in market capitalization, this token is also the largest memecoin. Bitcoin mining is becoming more expensive every day, and the competitive landscape in this field makes it more challenging. For this reason, some cryptocurrency mining companies have sought to start mining altcoins like Dogecoin and Litecoin. One example is the Bitcoin mining company BIT Mining. This company has expanded its operations to DOGE and LTC, yielding three times the profit compared to mining BTC. Is DOGE preparing to break out after the recent consolidation? The price of DOGE is currently around $0.18 and is showing signs of consolidation. This comes after a recent price increase. The hourly candle shows that DOGE has encountered resistance at $0.1900, which currently serves as a short-term resistance level for the upward trend. Volume data indicates that buying pressure is decreasing, suggesting that traders are waiting for stronger market indicators before opening new positions. Without major news regarding DOGE, this token will remain below the resistance level of $0.1900 and above the support level of $0.1800.

Based on the daily chart of DOGE/USD, the Relative Strength Index is 49, indicating weak market momentum. This also means there is no clear trend towards bullish or bearish activity in the near future. Market behavior does not show a clear direction as it stabilizes around the midpoint. The moving average of the RSI is at 55, exceeding the current RSI value and suggesting a minor bearish divergence. The ADX is measured at about 22, indicating the strength of the downtrend is gradually decreasing. The price of DOGE remains in a consolidation or sideways phase as its ADX falls below the benchmark of 25. Is mining Dogecoin still a golden opportunity for investors? As the profitable mining potential of this token becomes more widely known, there will be expectations of more optimistic news about DOGE. Therefore, if this memecoin remains a profitable mining option, a price surge is inevitable in the long term. This is why long-term investors should also pay attention to positive news about Dogecoin, as discussed in this article.