Dogecoin's price fell 6% over the past 24 hours, reaching $0.2521, as trading volume increased by 8% to $1.48 billion.
Current Situation with Dogecoin
Before the price drop, the largest meme cryptocurrency managed to reach $0.2684, but then corrected, initially dropping to $0.250 support, and then slightly rebounded to $0.2521. Over the last 12 hours, the price has been fluctuating between $0.250 and $0.255, still staying within these boundaries.
Dogecoin Price Prediction
As the price surged to $0.27, the Bollinger Bands widened as the price pushed the upper band further up. Once the price started to fall, it pushed the lower band down, which left the bands quite wide. Now that the price has mostly stabilized, the bands have tightened significantly, indicating uncertainty among traders and investors. The RSI fluctuated between the neutral value of 50 and the overbought zone, only to drop to the oversold zone as the price corrected. Currently, the RSI is back to the neutral value of 50, indicating stabilization.
Alternatives to Dogecoin
While Dogecoin has reached stability, current sentiment is not very optimistic as traders do not expect a major surge just yet. Instead, many are considering alternatives like Catslap, which is about to have a major event that could positively impact its price. Despite a 3% drop in the last 24 hours, the project is less than two days away from the MEGABURN event.
As Dogecoin stabilizes, alternative digital currencies are gaining attention from investors due to their events and prospects, as seen with Catslap.
