Cryptopolitan Reports DOGE Gains Bullish Momentum at $0.0690
Dogecoin, the meme cryptocurrency, has shown a positive movement in the last 48 hours, increasing from $0.0626 to $0.0685 on March 11, 2023. As of March 12, 2023, Dogecoin is trading at $0.068561 with a 24-hour trading volume of $669.69 million, a market cap of $9.10 billion, and a market dominance of 0.92%, experiencing a 3.68% increase in price over the last 24 hours. However, the sentiment for Dogecoin’s price prediction is currently bearish.
Dogecoin’s highest price was reached on May 8, 2021, when it hit its all-time high of $0.738595, and its all-time low was recorded on May 7, 2015, when it was trading at $0.00008547. The current circulating supply of Dogecoin is 132.67 billion out of a maximum supply of 132.67 billion. Dogecoin is ranked #3 in the Proof-of-Work Coins sector, #1 in the Meme Coins sector, and #6 in the Layer 1 sector.
Dogecoin price analysis shows the market following a positive movement, with the market’s volatility entering a closing movement, consequently tightening the market. This makes the price of the cryptocurrency less prone to experience volatile change on either extreme. However, the DOGE/USD appears to cross under the curve of the Moving Average, indicating a bearish movement.
In conclusion, Dogecoin has shown potential for a positive movement, but the market dynamics could reverse in the coming days if the price moves towards resistance. If the bulls manage to use it to their advantage, they might engulf the market and help raise the price of Dogecoin beyond expectations.