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- 1 Dogecoin price showcased a rebound and picked up strength.
- 2 Bulls are gaining momentum and eyeing to cross the $0.16000 mark.
DOGE price regained strength and is gaining momentum amidst the bearish market sentiments. Moreover, the memecoin held on to the 100 day EMA mark and is trying to surpass $0.16000. The price action demonstrates a minimal retracement move over 26% and remained above the mid bollinger band support zone, replicating a neutral price structure.
At press time, the Dogecoin (DOGE) price traded at $0.1503 with an intraday gain of 0.19%, reflecting neutrality on the charts. It has a monthly return ratio of -13.20% and 89.27% on a yearly basis. The pair of DOGE/BTC is at 0.00000234 BTC, and the market cap is $21.65 Billion. Analysts are neutral and suggest that the DOGE crypto may retain strength and will regain momentum in the upcoming sessions.
DOGE Price Volume Profile Analysis On Daily Chart
Per the daily charts of the DOGE crypto, the price to volume profile showcases a consolidation price movement in the last trading session. However, the trend is neutral and buyers are expected to surpass the 50 day EMA mark to regain momentum. Intraday trading volume jumped over 36.29% to $1.90 Billion.
Price Volatility & Weighted Sentiment Outlook
Amidst the price rebound, the DOGE crypto displays a decline in the price volatility curve this week. The price volatility curve noted a drop of over 22.90% to 0.0078. However, the weighted sentiment value remained below the midline around -0.422.
Social Dominance and X Followers Insights
Per the Santiment data, the social dominance data noted a drop over 22.40% to 0.98%, noting a decrease in the discussion reports. However, the X followers noted a bounce of over 42.89% to 2561.
Development Activity and Total Open Interest Insights
Amidst the significant price upmove of over 11% this week, the development data witnessed a consistent decline of over 19.67% and dragged below the midline around 2.6 showing a neutral outlook. However, the derivative data signifies short covering, the open interest dropped over 7.79% to $10.4 Billion in the intraday session.
Per the Fib levels, the DOGE price is trading near the 38.2% zone and is trading above the 38.2% region. However, the RSI curve stayed near the midline region, and a positive crossover. Additionally, the MACD indicator noted a bullish crossover and suggests a significant pullback ahead.
The total supply of the DOGE crypto is 143.81 Billion, whereas the volume-to-market cap ratio is 0.0879, and it is ranked 9 in terms of market cap in the global crypto market.
Summary
The Dogecoin price trades near the demand zone and is above the 100 day EMA mark support zone. Moreover, the bulls have started accumulating and are trying to uplift the gains and looking to outperform in the next sessions.
Technical Levels
Support Levels: $0.1440 and $0.1350
Resistance Levels: $0.1650 and $0.1800
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
