What are the Long-Term Technical Predictions for Dogecoin (DOGE) on Thursday?
According to InvestorsObserver’s research, Dogecoin has received an average long-term technical score of 40 based on historical trading patterns. This score is higher than 40% of other cryptocurrencies. The scoring system takes into account price movement over the past months to a year, support and resistance levels, and how the coin compares to long-term averages. The score suggests that Dogecoin may be a strong buy-and-hold investment opportunity for those looking for steady growth.
At the moment, Dogecoin’s price is 15.35% below its 100-day moving average of $0.07, sitting at $0.06. It is also 19,620.53% higher than its 52-week low of $0.06 and 6,320.87% lower than its 52-week high of $0.16. These figures contribute to the average long-term technical score of 40. The analysis suggests that investors are bearish on Dogecoin in the long-term.
Dogecoin has a market capitalization of $8,875,369,934.97 and experiences a relatively high average daily trading volume of $1,924,299,093.58. However, the volume over the last 24 hours is below the seven-day average with 257,447,180.38 exchanged.
Dogecoin falls under the subclass of Digital Money, which is designed to maintain value and liquidity over time, similar to traditional fiat currencies.
In summary, the technical analysis of Dogecoin indicates a bearish outlook for the cryptocurrency in the long-term. Investors may use this information to make informed decisions about their investments.