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June 17, 2023
DOGE posts light gains on a low-volatility day, ranging between $0.062 – $0.063 and is now at $0.062.
Although up today, early price action saw Dogecoin dropping below its 3 day Simple Moving Average at $0.061 — an early indicator that a new downward trend could be emerging. DOGE could be slowing down soon as it approaches resistance at $0.063. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems DOGE is likely to reverse course and start pointing down in the short term.
Dogecoin shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. MaticNetwork USD is up 5.52% to $0.622. Binance Coin is up 2.79%.
Dogecoin has fallen back around 56.32% from the significant high of $0.142 set 7 months ago. DOGE has a market cap of 8.73 billion with an average daily volume of 260.48 million.
