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June 08, 2023
After closing at $0.067 today, DOGE began today at $0.067 with significant bullish sentiment driving DOGE's price action higher. So far today, price action has drawn out a distinct $0.067 to $0.068 range.
As the trading day comes to an end, chart analysis indicates Dogecoin could be slowing down soon as it approaches resistance at $0.069. Of course, crossing it might suggest further gains are ahead. 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. According to asset volatility analysis, DOGE's lower Bollinger Band® is at $0.067, indicating that the market is oversold and fertile for new buyers.
Overall, the technical outlook suggests Dogecoin is likely to remain muted for the immediate future, with no clear-cut direction.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS added 3.14% to its value, now trading at $0.889. Binance Coin is up 1.91%.
7 months ago Dogecoin reached a significant high of $0.142 but has consequently lost 52.68% since then. Dogecoin is currently trading with a market cap of 9.50 billion with an average daily volume of 212.28 million.
