Dogecoin Price Slips Back to $0.10 Area After Failed Weekly Rebound

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6d ago

DOGE-1.206%

MMT-6.565%

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Price Decline: Dogecoin's price has slipped back to around $0.10 after a failed rebound on Binance, indicating a bearish overall market structure that may affect investor confidence.
Target Price Maintained: Despite the pullback, market commentator Cryptollica maintains a target price of $1.40 for Dogecoin, suggesting that there remains hope among investors under a long-term bullish sentiment.
Momentum Indicator Analysis: The Price Momentum Oscillator (PMO) for Dogecoin has dropped to historical lows, with analysts noting that past occurrences at similar levels have led to significant price surges, hinting at potential recovery opportunities ahead.
Key Support Levels: If Dogecoin fails to hold the $0.10 support level, it may lead to further declines towards $0.065 and lower regions, highlighting market fragility and potential risks.

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Technical Analysis for DOGE

Technical Sentiment Analysis for Dogecoin (DOGE) As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Dogecoin (DOGE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0434	0.0617	0.0821	0.1	0.121	0.139	0.159
Fibonacci	0.0617	0.0765	0.0856	0.1	0.115	0.124	0.139

About DOGE

Dogecoin (DOGE) is based on the popular 'doge' Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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