|Performance after Thursday 09-Mar|
Dogecoin (DOGEUSDT) price for the week to-date dropped -12.30% or -0.00919 lower to 0.06555. At time of writing into Friday’s trading session, Dogecoin has decreased by -8.82% over the past 24 hours. For the record, DOGEUSDT is -91.04% below all-time high of 0.73158. On Thursday, DOGE dropped -7.27% to 0.06595.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling but in oversold zone, our analysis is that there could be selling pressure as the outlook looks bearish.
For the month-to-date, DOGE is down by -18.92% or -0.0153 lower.
|24-hr||7-Day||30-Day||1-Year||Mkt Cap.||24-hr Vol.|
|-8.82%||-18.33%||-29.10%||-45.84%||9.10 bn||0.68 bn|
What can we expect from Dogecoin today?
Looking ahead for the day, immediate support level is at 0.06249 (S1) with break below could see further selling pressure towards 0.05902 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 0.07230 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Dogecoin need to break on either side to indicate a short-term bias. A close below 0.06393 would indicate selling pressure.
For the week to-date, take note that Dogecoin is falling as the pair posted lower, down by -12.30%. Prior performance for the week ending 2023-03-05 was -9.03%.
Key levels to watch out:
Last updated: 02:20 am UTC, 10-Mar 2023
Dogecoin is a cryptocurrency based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. Dogecoin is a Litecoin fork. Introduced as a “joke currency” on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined.Dogecoin was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia. Both wanted to create a fun cryptocurrency that will appeal beyond the core Bitcoin audience. Dogecoin is primarily used as a tipping system on Reddit and Twitter where users tip each other for creating or sharing good content. The community is very active in organising fundraising activities for deserving causes.The developers of Dogecoin haven’t made any major changes to the coin since 2015. This means that Dogecoin could get left behind and is why Shibas are leaving Dogecoin to join more advanced platforms like Ethereum. One of Dogecoin strengths is its relaxed and fun-loving community. However, this is also a weakness because other currencies are way more professional.To purchase Dogecoin, it involves downloading a crypto wallet, setting up a crypto exchange account and then trading away for your desired crypto currency. Once we have set up an account with a DOGE currency exchange and deposited some funds, you are ready to start trading.