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February 26, 2023
After closing the previous trading day at $0.081, DOGE went up to $0.081 only to drop back; still positive overall today, now trading at $0.081.
Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Dogecoin's lower Bollinger Band® is at $0.078, indicating that the market is oversold and fertile for new buyers. Chart analysis suggests Dogecoin could be slowing down soon as it approaches resistance at $0.081. Of course, crossing it might suggest further gains are ahead.
With market volatility ebbing, the current technical outlook indicates Dogecoin will remain range-bound for the immediate future.
Other markets are also showing gains as FTX Token is up 9.54%. Having closed the previous session at $0.068, TRON is up 1.25% today to currently trade at around $0.069.
Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%).
Dogecoin has fallen back around 49.45% over the past 10 months, from a notable high of $0.16. Dogecoin is currently trading with a market cap of 10.76 billion with an average daily volume of 422.40 million.
