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June 15, 2023
Slightly weaker but mostly flat: Dogecoin is currently trading at $0.06 as it maintains an active range between $0.06 and $0.06.
Technical analysis trend indicators suggest 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 momentum evaluation, the Relative Strength Index indicates Dogecoin is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that Dogecoin's lower Bollinger Band® is at $0.057, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Chart analysis indicates
With market volatility ebbing, the current technical outlook indicates Dogecoin will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Polkadot is trading around $4.36 (down $0.2). Cardano retreats 2.66% to trade around $0.256.
Other assets are showing positive performances as FTX Token is up 9.54%.
Over the past 7 months, DOGE has retreated 57.51% from a noteworthy peak of $0.142. Dogecoin has a market cap of 8.40 billion with an average daily volume of 254.65 million.
