Dogecoin (DOGE) has shown significant growth in the last 24 hours, increasing by over 6%. The trading volume of this cryptocurrency has also surged. Market analysis expresses both positive and negative trends.
Overall Market Trends
As per current data, the overall crypto market capitalization amounts to $3.83 trillion. While Bitcoin (BTC) and Ethereum (ETH) remain within their previous low ranges, the meme coin market has grown over 5.4%, reaching $77 billion.
Dogecoin Market
In the past 24 hours, Dogecoin (DOGE) rose by 6.89%. At the start of the day, it traded in the $0.2164 range and later reached a high of $0.2343. Currently, DOGE trades around $0.2313 with a market cap of $35 billion and trading volume that surged 138% to $2.73 billion. Over the same period, $8.44 million worth of DOGE was liquidated.
Technical Analysis of Dogecoin
Chart analysis shows a positive outlook for DOGE. Bullish pressure could push the price up to $0.2319. However, should the trend reverse to bearish, a drop towards the support level of $0.2307 may occur. Current technical indicators suggest some bullish momentum, yet the Relative Strength Index (RSI) is in the overbought zone, indicating a potential correction may be on the horizon.
The state of the Dogecoin market remains under observation, as current indicators present a mixed picture. The future price movement of DOGE will depend on further trading dynamics and buyer presence.
