Most meme coins, including Dogecoin, are seeing a week of red. Dogecoin currently has a 2% gain and could resume buying if there’s a consistent increase in the daily volume.
In recent months, Dogecoin took off from $0.8, creating a temporary drop from $0.132 to the $0.13 psychological level. Dogecoin now seems to be holding at around $0.11. With low overall market volume and price holding steady, Dogecoin appears stronger than other cryptos, even with recent volatility.
Looking at Dogecoin’s long term monthly chart, its outlook appears weak. Bears still hope to bring Dogecoin back to the $0.6 support and create a new yearly low, however, its daily charts appear stronger and positive as long as its trading remains stable. Dogecoin currently retains key levels like $0.115, $0.129 and $0.143 in the upper range and support remains firm around $0.1 and downwards to $0.089. A new yearly low of around $0.081 can still be expected, should an abrupt decline occur.
Spot price at present sits at $0.109 with bearish trends continuing but overall, Dogecoin still stands relatively strong amid market fluctuation.
Source: Dogecoin