Dogecoin Price Analysis – DOGE/USD

Dogecoin is a cryptocurrency featuring a likeness of the Shiba Inu dog from the “Doge” Internet meme as its logo. The 20th largest cryptocurrency, having its market cap stands at the level of $297,360,129 on 08:18 UTC on December 18 has slashed in Current value by 56.44% relative to the level of September 23 as analyzed from the graph above. However, it has soared high by 30% approx. relative to the level of November 27 as interpreted from the graph above. It seems that when it declined from its all-time high it attained on September 23 was due to bearish pressure; however, the current trend looks more favorable – bullish trends which make investors buy more of the currency. Let us not forget that Dogecoin is believed to be the most favorable altcoin as of today.

While the 20-day EMA below the current price signifies the “uptrend” in value as interpreted from the graph above. The bullish patterns that may suggest a buy, hence, it is worthwhile to buy it and is recommended to all those community users and traders that would like to impart their capital for the long-term perspective. As the current crypto story for this currency looks fantastic! It seems that the buyers are on the verge of buying this, in particular, more and more as the 14-day day RSI represented an upward trend in value.

Now let me walk you through certain milestone that this cryptocurrency attained in the recent past. The DOGE remained range bound from November 28 to December 17 this year, as the cryptocurrency rallied from a low of $0.0020 to a high of $0.0031 which is a 55 percent – an extraordinary return within 19 days. As the variety of upwards and downwards fluctuated, trends have been observed since July this year.

Besides this, the DOGE stayed in the range till October 15 at the level of $0.0051 since then it created a “descending channel’ represents the fact that how the current scenario experienced fluctuated downtrend till date.

If bulls succeed in rising and sustaining above the current resistance level of $0.002577 and remain traded above the 20-day EMA, the investors’ sentiment will keep remained with the current bullish pattern. However, based on the current trend, the next support level could be $0.0027.

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