Tough start for Dogecoin this morning following 0.26% decline; now at $0.079

Dogecoin is down to $0.079, after ending today at $0.079. Overall, a 0.26% loss or $0 today.

As the trading day commences, technical analysis suggests 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. After descending below strong Fibonacci support at $0.078, market bears have earmarked $0.073 as the next downside target. Asset volatility analysis shows that Dogecoin's lower Bollinger Band® is at $0.075, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests Dogecoin is likely to remain muted for the immediate future, with no clear-cut direction.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36. UNICORN Token USD is up 1.62%.

DOGE is now trading 48.69% below the significant high of $0.153 it set around 11 months ago. DOGE is currently trading with a market cap of 10.92 billion with an average daily volume of 1 billion.