Z Squared Merges with Coeptis Company to Create a Dogecoin Mining Giant

In the latest DOGE news, there has been an announcement by the Z Squared DOGE mining firm. Based on this announcement, this company, in a surprising turn of events, is merging with the biopharmaceutical company Coeptis Company.

In a surprising turn of events, Z Squared, a company specialized in mining, is merging with the biopharmaceutical company, Coeptis Company. According to the latest Dogecoin news, the resulting company from this merger will continue the mining operations. However, the Coeptis’ pharmaceutical part will become a separate entity and will be operated as one.

This company will become one of the Dogecoin mining giants as its value increases, making it one of the biggest in this sector. According to this DOGE news, this contract will be closed as late as the third quarter of this year. This will create a mining company with over 9,000 mining rigs, specially made for DOGE mining. Such development can also create excitement whiting the community, causing the DOGE price to rise.

The merger has also caused the old CEOs to step down and David Halabu to become the new CEO. This move will also be very expensive, leading the final entity to go public. The Z Squared CEO has also sent a statement regarding this merger. “Going public provides us with broader access to capital markets to fuel the growth of our mining operations and pursue additional strategic opportunities we believe will be accretive to shareholders.”

This announcement has not been favorable for COEP as its stock value is down almost 38%.

How Does Dogecoin Mining Compare To Bitcoin Mining?

The mining process of Dogecoin is similar to that of BTC, as this memcoin is a parody of the prime crypto. This mining process involves miners completing an algorithmic problem to go to the next block. Such a mining method is called the Proof-of-Work consensus mechanism and gives the coins to whoever solves the block sooner.

Ironically enough, although it started as a parody, DOGE price and market capitalization have grown significantly since its launch. This puts Dogecoin as the eighth biggest cryptocurrency in the crypto market. With over $27 billion in market capitalization, this token is the biggest memecoin as well.

Bitcoin mining is becoming more expensive every day, and the competitive scene for this sector makes it even more challenging. Because of this, some crypto mining firms have been looking to start mining altcoins like Dogecoin and Litecoin.

One example is the Bitcoin mining firm BIT Mining. This company expanded its operations to DOGE and LTC, which has resulted in triple the profits of BTC mining.

Is DOGE Preparing For A Breakout After Its Recent Consolidation?

The recent price surge was followed by a period of consolidation as DOGE price approaches the $0.18 mark. According to the hourly candles, it seems that the buyers encountered resistance at the $0.1900 level, which can be seen as a near-term barrier to further bullish price action.

The volume data shows a decrease in buying activity, indicating that traders prefer to wait for stronger market signals before entering new positions. In the absence of any significant DOGE news, this token is likely to remain below the $0.1900 resistance and above the $0.1800 support.

According to the DOGE/USD daily chart, the Relative Strength Index stands at 49, which can be interpreted as weak market momentum, with no clear trend towards either bullish or bearish activity in the immediate future. As the RSI stabilizes around the midpoint, it indicates a lack of direction in price action.

Moreover, the Moving Average of the RSI is 55, which is greater than the current RSI value, suggesting a slight bearish divergence. The ADX is around 22, which signifies a decrease in the strength of the trend. As the ADX is below the standard threshold value of 25, it indicates that the DOGE price is in a consolidation or sideways phase.