Dogecoin Price Analysis: Doge Price Continue to Shine with a 10% spike

The Cryptocurrency market took a significant hike today after the recent bearish run. Major Altcoins are recovering and the market is enjoying the green day. Few coins bucked the trend with the growth in double digits. 

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The leading coin with maximum growth is Digibyte with a 20%  spike, followed by Bitcoin with 17% growth and Bitcoin SV with 15% growth. 

Dogecoin Price Today 

The previous week, we saw the DOGE price broke the barrier of $0.0020 after suffering price consolidation. According to a 7-day chart, the price level of $0.0020 and had a top price level of $0.0023.

However, the market forces can provide dogecoin a needed positive boost for breaking the resistance level of $0.0025. 

At the time of writing, the Dogecoin price has increased by 10.88%  against USD, trading at $0.003377. In terms of DOGE/BTC, the price slopped down to -5.84%. The coin is trading at  0.00000028 BTC.

Currently, the coin is ranking at 31st  position, holding market cap $324,186,864 USD  with $309,394,235 USD hour volume and 124,357,785,612 DOGE circulating supply.

However, according to experts, the short-term Price prediction of dogecoin is bullish. The only barrier for the altcoin will be the resistance level of $0.0025.

It showed its potential at the starting of this month when the crypto asset crossed the major resistance level of $0.0020 with significant bullish momentum.

Previously, DOGE Price was facing consolidation between the price range of $0.0015 and $0.0020, and the break above $0.0020 indicated a major bullish momentum upcoming for the crypto asset.

Also, read, Will Dogecoin Be a Good Investment in 2020?

Dogecoin Technical Analysis 

The technical indicators are in favor of the bulls.

The MACD levels are in the bullish zone and show slightly negative nature with a bearish cross made in the bullish zone.

The RSI indicator is also showing positive nature and is about to reach a bullish level of 60. This also favors the bulls.

The Commodity channel index is showing positive divergence avoiding the oversold region, which indicates that there’s still some buying left for the altcoin in the market.

Resistance Level: $0.0023 and $0.0025

Support Level: $0.0020 and $0.0018

Experts View on Dogecoin 

Dogecoin has been in the news quite frequently in recent times. We saw Elon Musk publicly stated that Dogecoin is one of his favorite cryptocurrencies. 

Even Founder of Ethereum, Vitalik Buterin tweeted, “I’m very pro-Dogecoin”. 

On the other hand, Popular cryptocurrency influencer John Mcafee also Believes that Dogecoin will go to the moon.

Samu, a great DogeCoin follower shared his opinion on how Dogecoin had the chance to explode with higher figures if the leading News portals made efforts to put down the news of Elon Musk writing himself as CEO of Dogecoin.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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