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The DOGE\/USD closed at $0.204210 after placing a high of $0.217690 and a low of $0.201130. DOGE\/USD dropped in its price for a second consecutive session on Sunday as the U.S. dollar gained traction in the market. Dogecoin price forecast is bullish above $0.1980level that\u2019s extended by an upward channel.<\/span><\/p>\n
The U.S. Dollar Index (DXY) that measures the greenback value against six major currencies\u2019 baskets rose on Friday to 92.20. It placed gains after falling for the previous four consecutive sessions. The U.S. dollar finally turned green on the back of a better-than-expected macroeconomic data release on Friday, and this is still influencing the pair.\u00a0<\/span><\/p>\n
At 17:30 GMT, Personal Income from June surged to 0.1% against the estimated -0.4% and supported the U.S. dollar that added loss in DOGE\/USD prices.\u00a0<\/span><\/p>\n
Personal Spending in June also rose to 1.0% against the expected 0.7% and supported the U.S. dollar that dragged DOGE\/USD even lower.\u00a0<\/span><\/p>\n
At 18:45 GMT, the Chicago PMI for July rose to 73.4 against the predicted 64.2 and supported the U.S. dollar that helped the bearish momentum in Dogecoin. These macroeconomic figures came in favor of the greenback and had a negative impact on DOGE\/USD as both share a negative correlation.<\/span><\/p>\n
There were reports that a man from Utah wanted to sell his house in Dogecoin. A man from Saratoga Springs is reportedly trying someone to buy his house for $399,000. However, he has said that he will provide a 10% discount to anyone willing to pay him with Dogecoin, despite several issues related to the transaction.<\/span><\/p>\n
The volatility of Dogecoin and the fact that buying a home using cryptocurrency was not traditional makes it a unique event. It can be a difficult scenario because of two reasons:\u00a0<\/span><\/p>\n
First, the person should be willing to take risks considering the chances of Dogecoin falling in price. The second issue is for a company that will be converting the current cryptocurrency into U.S. dollars. The company would hold it and facilitates the transaction.<\/span><\/p>\n
Some dealers have said that the seller would have to convert money back into cryptocurrency after the sale was complete. Some proposed an alternative option to hiring a lawyer who would draw a contract that both the buyer and seller sign to exchange the money and title of the home on a peer-to-peer basis.<\/span><\/p>\n