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May 23, 2023
After ending the previous trading day at $0.073, DOGE went up to $0.074 only to drop back; still positive overall today, now trading at $0.073.
Dogecoin could be slowing down soon as it approaches resistance at $0.074. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw DOGE dropping below its 10 day Simple Moving Average at $0.073 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.078, thereby suggesting that DOGE is becoming overvalued.
DOGE is likely to reverse course and start pointing downward in the short term.
Other markets are also showing gains as FTX Token rallies 9.54% to trade around $1.36. Having closed the previous session at $26,854, Bitcoin is up 1.69% today to currently trade at around $27,300.
Meanwhile, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Dogecoin reached a significant high of $0.142 around 6 months ago but has lost 48.63% since then. DOGE has a market cap of 10.20 billion with an average daily volume of 257.74 million.
