Dogecoin Price Analysis: DOGE Price Slumped -4.31% in 24-hours


  • In terms of DOGE support floor, it is now $0.056.
  • Dogecoin price analysis is bearish today.
  • Dogecoin has a medium term resistance at $0.064.
  • DOGE fall -11.25% in seven days.

07 December 2022 : In this article we will walk you through Dogecoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Dogecoin, Is DOGE a good investment? Dogecoin support & resistance levels etc. But before diving deep into the DOGE technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $841,911,813,910. The total trading volume stands at $37,293,480,282. Bitcoin shares 38.51 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,865.76 level after a decline of -1.22%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.89 percent reaching to $1,233.61 during the previous 24 hours.
While publishing this blog, BNB traded at $284.63, following a price change of -1.94%within the same time frame. XRP the native coin of XRP is down by -2.06 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.31% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Dogecoin Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Dogecoin (DOGE)

DOGE Resistance Levels DOGE Support Levels
Resistance Level 1 $0.062 Support Level 1 $0.056
Resistance Level 2 $0.064 Support Level 2 $0.053
Resistance Level 3 $0.068 Support Level 3 $0.050

Dogecoin Performance

The price of Dogecoin (DOGE) is at $0.096, down -4.31% in the past 24-hours and has a price change of -11.25% over the week. One day trading volume for BTC is 624,808,583.00 USD while total marketcap reached $12,717,104,024.00 USD. There are almost 132,670,764,300 are in circulation out of 132670764300.

Dogecoin Price Analysis

DOGE price analysis for 07 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Dogecoin.

Moving Averages Price Indicator
Simple Moving Average (10) 0.060 Buy
Exponential Moving Average (10) 0.060 Buy
Simple Moving Average (20) 0.061 Buy
Exponential Moving Average (20) 0.061 Buy
Simple Moving Average (50) 0.061 Buy
Exponential Moving Average (50) 0.061 Buy

While DOGE’s Williams %R indicator is at -58.383 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. Dogecoin investors need to wait for any directional change over the daily chart. The relative Strength Index (RSI) indicates that the DOGE coin is in oversold phase, as RSI is at 24.

Conclusions

As of now, Dogecoin is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the DOGE move into the positive zone. In 2022 and beyond, the Dogecoin price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.