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- 1 The DOGE price is currently trading at $0.072 while seeing a change of 1.86% in 24-hour trading volume.
- 2 The DOGE price is observing a decline of 0.88% in the last 24 hours.
The price of DOGE is currently trading near a crucial support level on the Daily Timeframe. Though it is not respecting its major EMA levels after its recent breakout which suggests that the price is in the earlier stage of the trend reversal. In the long-term view price of DOGE has recently taken a reversal from the 100 EMA and presently it is trading near its previous support zone.
The current value of the DOGE coin is $0.072, It has a total Market Cap of $10.08B.
A Significant Decline in the Fees and Revenue of DOGE
The DOGE coin is seeing a significant decline in users within the last few months. According to DefiLama the fees and revenue of the DOGE token reached its all-time near late April of 2022 after which there is a sharp decline at present.
A Recent Increase in The Price and TVL of DOGE
The TVL (Total Value Locked) after its downfall near early August is regaining buyers’ interest. The TVL of DOGE saw an increase in its value recently near late April. The present TVL of DOGE is 1.165M observing a change of 1.20% within the last 24 hours. In comparison to TVL, the price is giving steady movements.
DOGE Price May Continue the Downtrend (Daily Timeframe)
The RSI line is presently trading near the demand, it is taking a retest through 14 SMA. The RSI value is near 36.58 points in the oversold level points and it is taking resistance from the 14 SMA near 38.72 points.
Stochastic RSI is consolidating near the near-oversold levels on the daily timeframe. The %K is making an attempt to cross above the %D. The current value of the Stochastic RSI is 9.60 points.
The overall market sentiments are trading near neutral levels at 54 points. The sentiment index is observing a substantial decline since the previous month when the market was trading at around 68 points in the greed zone, In accordance with the greed and fear index offered by the Alternative(dot)me platform.
Conclusion
According to analysis, the price may take a bullish reversal within recent days as it has already reached its demand zone. Buyers have been defending the support zone for the last 13 months hence the probability of a bullish rebound is prominent.
Technical levels –
Support – $0.070 and $0.060
Resistance – $0.091 and $0.100
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
