The price of Dogecoin has risen by 2.5% in the past 24 hours, with its move to $0.1559 correcting several consecutive days of declines.
DOGE still remains down by 0.5% in a week and by 7% in a month, with the meme token also suffering a 1% drop in the past year.
These are all disappointing percentages, but one positive today is that DOGE has touched or is nearing bottoms on its chart, indicating a potential rebound.
And with the wider market also overdue a strong comeback, it could be only a matter of weeks before the Dogecoin price makes some substantial gains.
Dogecoin Hits Rock Bottom – Is a Mega Pump to $10 Next? Probably the clearest indicator of a bottom on the chart below is the 30-day average (orange), which has now fallen to a new low in relation to the 200-day average (blue).
Normally, when this happens it indicates that the market has oversold the corresponding asset, and that a rebound should be coming soon.
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