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Dogecoin Decline-Invitation To Inevitable Bear Rally

The entire crypto market is facing a gradual but continuous pullback and volatility, the effects of which are also borne by Dogecoin, which in a couple of weeks had faced a slight downfall but any analyst who had studied its history with profound focus will be able to say that its recovery rate had always been much higher than many of the cryptocurrencies in the market.

A short look on statistics (as recorded on Sep 23)

  1. Market cap – $310,828,678
  2. Price- $0.002562
  3. Volume(24h)- $36,754,579
  4. Circulating Supply- 121,328,529,943DOGE
  5. Change- 1.14%

As per statistics from a couple of weeks, DOGE was initially trading at $0.002578 as on September 15 at 15:45 UTC and today, SEPTEMBER 23,its value had further moved to $0.002562 witnessing a slight pull back again. But the data of September 17 cannot be ignored when the value dropped by 9.45% at recorded at 9:20 UTC when the trading value turned to $ 0.002334. Dogecoin touched its zenith on September 18 when the value rapidly escalated by 22.39% at 21:25 UTC, trading at $0.002855.

Yesterdays highest point was recorded about $0.002609 and the lowest range was $0.002546 which had been slightly better as recorded today. In the last 24 hours, the highest price was $0.002609 which was noted yesterday. Taking a short glance of yesterdays volume revealed that it was again higher than today’ s with a volume of $37,997,883 USD.

DOGE has recently seen a downfall in the trend, confusing the investors to take an ideal trade decision. The values as of now seem to be bending towards the moderate bearish zone but are expected to be favourable and towards escalation as it is still much higher than the lowest value recorded in 90 days that was $0.002366 USD. To conclude, it is a tough challenging obstacle for investors to take the ideal trade decision, to ease the same, the calculated resistance and support levels are-

Resistance level Support level
$0.002766 $0.002621
$0.002822 $0.002532
$0.00291 $0.002476

According to Experts, this is not the right time to jump in Dogecoin, it is advised that investors must wait for price reversal which could change the Doge trend from bearish to bullish.

 

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About 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: https://t.me/thecoinrepublic

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