Dogecoin Price Falls 9% amid Rising Trade Volumes

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by Giorgi Kostiuk

2 years ago

The Dogecoin price decreased by 9% to $0.3605 as trading volume increased by 75%, reaching $9.6 billion.

DOGE Chart Analysis

Dogecoin's 4-hour chart shows a rounded bottom pattern, indicating a potential bullish reversal. After reaching $0.40, the price consolidated around $0.36. It fell below the 50-period SMA, suggesting short-term bearish momentum, but the 200-period SMA remains a strong support. The RSI stands at 42.21, reflecting a loss of bullish momentum.

Can DOGE Reach $0.45?

Following a strong rally, Dogecoin is in a consolidation phase. If DOGE holds above the 200-period SMA, it might trigger another upward movement aiming at $0.40, and potential breakout to $0.45. If it falls below $0.3455, the next support comes near $0.34.

Flockerz Presale Update

Flockerz is nearing the $12 million mark in its ICO, featuring a vote-to-earn mechanism and a staking yield of 261% annually. Participants can purchase FLOCK tokens using BNB, ETH, USDT, or a bank card.

Dogecoin's price decline and increased trading volume may indicate a market sentiment shift, while projects like Flockerz continue to attract investor interest.

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