Dogecoin has slowed down now after seeing an upward streak in recent week. The memecoin is yet to achieve it’s lifetime high and there is a room for bullishness in this counter.
In this article, we will discuss Dogecoin price analysis along with weekly analysis and dogecoin news.
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Dogecoin Price Prediction
Dogecoin is currently trading at $0.1519 with a market cap of $20 billion and $1 billion in 24h trading volume.
Let’s have a look at the chart:
The price currently resides above the horizontal support/resistance (S/R) zone level, indicating a potential bounce from this point. Should this support be breached, it could form a double bottom pattern, followed by a subsequent rebound.
Weekly Price Analysis
After witnessing an uptrend over the past week, the coin slipped into an overbought category and now the price seems to have cool off for now.
After some consolidation, the coin is now set for further rally with all other memecoins also ready to fire up.
Dogecoin News
- Memecoin investors are looking forward to KangaMoon presale.
- Dogecoin, valued at $25 million, has left Robinhood Crypto following the firm’s receipt of a Wells Notice from the U.S. Securities and Exchange Commission (SEC).
- The crypto market’s slight resurgence comes on the heels of an endorsement by former president Donald Trump, with Dogecoin and Shiba Inu experiencing mixed performance.
Market Sentiment and Future Outlook
The market sentiment towards Dogecoin is currently optimistic. The recent price increase and positive news surrounding the cryptocurrency suggest a favorable outlook for Dogecoin.
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This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
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