Since the larger meme coin category is bearish right now, Dogecoin (DOGE) is inspiring confidence amongst its investors. As per, CoinMarketCap it has lost 5% of its market cap that it had yesterday.
Conversely, DOGE has recently staggered free with remarkable recovery, reaching a 186.54% percent bullish market share, achieving a staggering $1. 37 billion total.
Another important component pointing towards the high level of resistance in the market sentiment of Dogecoin exists bearing in mind that the increased trading volumes confirm continued trade interest by traders, especially with the current price trends being mainly bearish.
This may encourage easy buy signals from traders that could keep Dogecoin rallying on the upward trajectory as meme coin ambition intensifies with support from a robust community.
Current Dogecoin (DOGE) Price Analysis
As it stands at the time of this writing, DOGE costs $0. 1175, reflecting a 6. 18% drop they had been recording over the last 24 hours as well as the 25.47%.
In terms of the MACD and market indicators such as major moving averages, DOGE appears to be bearish below the key indicators; however, its RSI is at 28.15.
This oversold market condition gives the impression that Dogecoin can have a short-term price bounce from the current price level.
