In the last 24 hours, Dogecoin has lost almost 2%. From $0.0026 to it has fallen to $0.0023 in few days. Here is an analysis of the five price swings of the coin for the day.
Dogecoin Price Analysis
Dogecoin took a shift between 00:25 UTC and 04:54 UTC, and this shift cost the coin $0.0001 and placed it at $0.00236356. It was followed by a price recovery by 4.28%, and this recovery made an addition of $0.0001 and pushed the Dogecoin price to $0.00246338. The next variation is an important one as it pushed the DOGE to the lowest of the day at $0.00229356 after a 6.88% fall by 19:45 UTC. It was followed by an increment of 7.06%, and this increment happened between 19:45 UTC and 00:16 UTC and this increment added $0.00016 to the DOGE. The latest swing of the coin was a price fall of 5.49% and by 03:35 UTC, it cut $0.0001 from the coin and placed the price of DOGE at $0.00231941.
Dogecoin to USD Price Chart
Yesterday’s price movement of Dogecoin can be termed as a gradual fall, and it has gone exactly as per the market trend. DOGE may get bullish in the medium-term, but no short-term push is imminent. Following are the most probable resistance and support levels, which traders should consider for safer trading:
Will Dogecoin Price be able to Beat the Bears?
- Dogecoin price is still under bear pressure as seen by the price variations over the past month.
Dogecoin has not been able to sustain its position in the upward range due to the constant bear pressure since they gained strength from the end of June. From the past one month, DOGE shows a lot of price fluctuations and is trading mostly below the baseline with the prices oscillating between $0.0023 – $0.0029.
Dogecoin Price Predictions
The price of Dogecoin has been continually in the lower range due to the bear pressure in the crypto market. From a high of $0.002897 on August 19, 2019, the price went on a downhill to $0.002360 on August 29 to the extent of 18.46%. DOGE then made a recovery on September 09 to the tune of 13.68% at $0.002683. With the bears showing an upper hand, Dogecoin price again went down in the next 8 days to $0.002319; downward movement was to the extent of 13.64%. In a matter of the next 4 days, DOGE price went up at $0.002567 to the tune of 10.71%. Currently, Dogecoin is trading at $0.002478, which is again lower by 3.84%.
Dogecoin to USD Price Chart
Dogecoin price has seen a lot of variations from the beginning of the year. The price of DOGE was moving in a flattish range till April where it suddenly rose during the first week of April. Dogecoin had managed to sustain its momentum even as late as July 16 when it was at $0.0032, but by then, the bears had got stronger, and the downslide began for the coin. Analysts expect this volatility to run its course for the short-term and feel that DOGE has the potential to bounce back by the year-end.
For long-term investors, this is the right time to make their investments. Short-term and day traders should invest cautiously, taking market conditions into account.
Dogecoin Inclines Below the Baseline; Trades Within the Range of $0.0023 to $0.0026
- The coin continues to range-bound trade within $0.0023 to $0.0026.
- DOGE/USD by Bittrex has candle formation, which is more inclined towards the lower side of the said range.
- With a few trading instances upwards, Dogecoin price went as high as $0.0026.
Dogecoin is ranked at 29th position in the crypto market, which rightly points out the potential of the coin. DOGE/USD has strict range-bound trading since past 12 days now. With Bitcoin consolidating gains above $10,000 but below $10,500; Dogecoin is trading within the said range only. Although the week was quite a gainful one for most of the coins in the crypto market, this did not seem to have affected the price of Dogecoin.
DOGE to USD Price Chart by TradingView:
Tracing the 30 minutes movement of the coin on Bittrex over the past 1-day, we see that the coin’s trend is much more inclined towards the lower range. Dogecoin was trading around $0.002594 in the initial hours of the day. Around midday, DOGE rose to $0.002615 corrected from $0.002354 by 11.08% within no time.
Today, Dogecoin price is more inclined in the lower range below $0.002498 for the major extent, until the time of penning down. However, the situation is no better and the coin is still encircled by the solid selling pressure just as the fore altcoin. Nevertheless, it is slightly rooted in the short-term moving averages.
DOGE Technical Indicators:
The current trading price of Dogecoin is supported by the 5-day SMA ($0.002477), 10-day EMA ($0.002478), and is notably below the 50-day SMA ($0.00272).
The MACD of the coin appears flat at present but, with a slight bullish crossover, while, RSI seems to have taken a flat route around 50.
Dogecoin (DOGE) marks a Slight Fall; will this get Deeper?
- Dogecoin (DOGE) price registers a fall.
- The intraday traders can expect a profit by the end of the day.
Dogecoin price is dealing with the bear. The coin opened the day with a downtrend along with the market. Bitcoin (BTC) was also experiencing the same. However, Bitcoin (BTC) is now dealing with positive digits. Dogecoin (DOGE) gets highly influenced by movement in the price of Bitcoin. If the same happens today, Dogecoin might close the day with a positive number on the price chart.
Let’s have a look at the Dogecoin price chart, to understand its intraday movement.
Current Statistics of Dogecoin:
- The price of the coin is $0.002543.
- The ROI is marked as 352.50%.
- The 24hr volume is noted as $26,864,432 USD.
- The market cap stands at $306,140,237 USD.
- The circulating supply has 121,078,688,230 DOGE.
DOGE to USD Price Comparison:
The chart is taken from Trading View on 05th September 2019 at 09:10:20 UTC for price analysis.
Yesterday, the coin opened at $0.0026. The coin immediately dropped from $0.0026 to $0.0025 by 5.88%. Later, there was another drop from $0.0026 to $0.0024. This time regression was of 8.75%. The coin closed at $0.0025 with a fall of 4.52%. Today, the coin started with a moderate movement. The coin jumped from $0.00242 to $0.00256 by 5.74%. The coin is currently dealing at $0.00254.
Dogecoin Price Prediction and Conclusion:
The market is reflecting a fall on today’s chart. Dogecoin (DOGE) also felt a pullback because of the same. There are high anticipations that the coin would climb for during the second half of the day. The traders can also expect a positive result from the coin in the long term investment. In the coming years, the escalation could bring a 4% to 5% profit in the price.