Is DOGE Having a Calm Before the Storm?


The Dogecoin price has been relatively quiet recently. DOGE is trading at $0.05, where it has been in the past few days. This performance has brought its total market cap to more than $7.46 billion, making it the 17th biggest digital currency in the world.

What happened: Dogecoin, the meme coin that was recently promoted by Elon Musk has been relatively muted in the past few days. This has seen its ranking in crypto drop from an all-time high of 7 to the current 17. This performance is mostly because there have been no major announcements by Elon Musk about the coin. 

Recently, he asked Coinbase to start accepting the currency. He is also selling a song about non-fungible tokens (NFT) as an NFT for Dogecoin. Also, recently, Mark Cuban touted the currency, saying that Dallas Mavericks, a team he owns were the biggest merchants for the coin. He expects it to reach $1 soon.

Dogecoin price prediction

The daily chart shows that the Dogecoin price has struggled to find direction recently. Still, it is 2,300% higher than where it was in November last year. This makes it one of the best-performing digital currencies in the world. The chart also shows that its volatility, as measured by the Average True Range (ATR) has dropped to the lowest level since January 29. 

Therefore, in my view, this performance is a calm before the storm, meaning that the price will soon break out. The challenge is to figure out the direction of this breakout. The key levels to watch will be $0.04 and $0.08.

Don’t miss a beat! Follow us on Telegram and Twitter.

DOGE price chart

More content





Read Full Article

Latest articles

Cardano, Dogecoin, Avalanche Price Analysis: 8 December

As the broader trend swayed in favor of the sellers, the crypto market was in red in the last 24 hours. As a...

Weekend Volatility Awakens Bitcoin Buyers, Active Addresses

Following the volatility of the weekend, Bitcoin holders seem to have woken up as active addresses break one million. Number Of Active Bitcoin Addresses...

Crypto Analyst Says Bottom Is In for Two Altcoins, Predicts V-Shaped Recovery for Bitcoin and Ethereum

A popular crypto analyst and trader says several crypto assets on his watch list have survived the recent market-wide pullback and are now...

Hathor Network: Building a Scalable Blockchain Infrastructure for a Decentralized Solution

GEORGE TOWN, CAYMAN ISLANDS / ACCESSWIRE / December 8, 2021 / The world has witnessed a number of innovations in the past decade,...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here