Is Dogecoin On Life Support? Analyzing Its Recent Price Downturn
Dogecoin (DOGE), the notoriously popular meme-inspired cryptocurrency, is facing a turbulent period that has left investors and enthusiasts pondering its fate. The central query echoing through the crypto community is a haunting one: Is Dogecoin destined for obscurity? The decline in Dogecoin’s value can be attributed to a confluence of factors, with the broader cryptocurrency market’s downturn chief among them. This overall slump has eroded confidence in the crypto sphere, and Dogecoin hasn’t been spared from the pessimism. Over the past year, Dogecoin’s....
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Bitcoin experienced an incredible bullish outbreak over the last few days. However, despite BTC/USD's incredible gains over the last few days the dogecoin price didn't experience gains to this extent, despite a small increase in the volume. The increase in the trading volume wasn't really significant, though. It was indeed higher from the time that the entire market was stagnant and BTC/USD reached the low of $215. However, today's trading volume of ~$140k isn't something new to dogecoin. While all the bullish activity in the bitcoin market did have a mild effect on the dogecoin price, it....
Dogecoin seems to have formed a trading range which has the put the risk/reward ratio highly in favor of traders. As expected, the price has not violated the support level of 43 satoshis and has rebounded strongly, approving it as a near-term floor. In another shot at taking out the resistance of 50 satoshis, Dogecoin has failed miserably. In my previous analysis, it was discussed that volatility may continue to play a decisive role, and the price is indeed oscillating wildly in the range. As of this moment, each Dogecoin is worth 47.9 satoshis. After analyzing the 240-minute....
Cardano (ADA) saw its market structure undergo a significant bullish transformation following a series of recent gains. This rally, which began in late September, has propelled ADA’s price up by more than 10% in just one week, measured from its lowest point to the recent peak. Although ADA experienced a retracement in the past few hours, it has managed to retain its overall bullish outlook. The initial signs weren’t entirely encouraging, as evidence from volume indicators hinted at dwindling buying pressure. Nevertheless, the bulls rallied with determination, successfully....
Shibes everywhere should "much rejoice," because the Dogecoin price is having an impressive run. After falling as low as ninth in total market cap during summer 2014, Dogecoin has roared back to life with a massive price increase that shows signs of permanence. The Dogecoin price has experienced double-digit percentage increases several times throughout the last month-including this week. CCN analyzes this altcoin price swing to help traders make informed investing decisions. Dogecoin Price Increases 23% in 24 Hours. The Dogecoin price has been in a sustained uptrend throughout the month....
Dogecoin price ranged between 56.6 and 63.2 satoshis on Cryptsy throughout yesterday's trading sessions. Although the price is still within the range we identified during yesterday's analysis, higher highs have been recorded throughout the past 3 days. Note: We will be analyzing the 1 day (DOGE/BTC) charts from Hitbtc and Cryptsy throughout this analysis. By studying the 1 day (DOGE/BTC) Hitbtc charts from tradingview.com and plotting the OBV oscillator (look at the below chart), we can conclude the following: Although yesterday's dogecoin price low is lower than that of the previous day,....