Dogecoin is Reflecting Bulls Against USD While Bears Hold The Market Cap

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates:

  • The major cryptocurrencies such as Bitcoin, Ethereum and XRP are under bearish pressure while the price of Dogecoin shows bullish momentum and surge by 0.08%.
  • The Doge/USD Pair founds major support at $0.002713, $0.002651 and $0.002615.
  • The Doge/USD Pair founds major resistance at $0.002811, $0.002847 and $0.002909.

Dogecoin showed an immense level of bullish behaviour in the past 24 hours when it managed to climb a total of 0.08%, it reached the mark at $0.002731  from the start of trade at 0.002715. Dogecoin is a derivative cryptocurrency from Litecoin which was introduced in December of 2013. Dogecoin was brought into light by its two creators Billy Markus and Jackson Palmer. Dogecoin has acclaimed the #28 rank on the global cryptocurrency index. DOGE has a market cap of $326,149,799 USD sharing value of 37,381 BTC in terms of Bitcoins. Dogecoin has a circulating supply of 122,008,871,581 DOGE.

Doge USD Price Analysis

During the Bull run yesterday there were three major shifts in price, the trade opened at $0.00272712 USD for DOGE and after a span of nine hours and four minutes it dropped to $0.002642 USD at 3.11% which immediately followed a rise by 7.06% that added $0.000186 USD which placed DOGE at $0.002828 USD. The last swing was recorded during the last six hours of the trade it lost a whopping 4.06% to end up at $0.00271453 USD.  

Although the market cap did quite the opposite, gaining in its value. It reached 336.485 Million USD from 338.534 Million USD. DOGE’s 20-day average and 50-day average stand at  $0.00260572 USD and $0.00246323 USD respectively. However, the current trading price is dominant to the 50-days and 20-days average by 13.72% and 7.50% respectively. The next pitstop fro dogecoin is predicted at $0.002847 USD.

Due to the mixed trend and flow of dogecoin in this volatility, the resistance and support levels have been sought using first-hand analysis techniques put together by an expert crew. The First resistance level for DOGE is placed at $0.002811 USD continued with the second one at $0.002847 USD and the final resistance level at $0.002909 USD.

The Support levels are seen as accordingly, first support level at $0.002713 USD, the second support level at $0.002651 USD and the third support level at $0.002615 USD.

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