The cryptocurrency market continues displaying a volatile price action by displaying price movements within a short period. Moreover, with Bitcoin failing to hold its price above the $63k mark, the memecoin category has also taken a dip.
Top tokens such as Doegcoin (DOGE) continue hovering close to their important support/resistance levels, indicating a mixed-price action. Will DOGE price make a comeback this Uptober? Read our article to uncover the price mysteries!
Amid increased price volatility, the Dogecoin crypto price has dropped ~4% in the past 24 hours with a trading volume of $775.71 million. Moreover, it has corrected 9.17% over the past week. However, it has formed a rising channel pattern and has continued trading within it since September.
Successively, it has surged 11.81% during the past 30 days and has a Year-to-Date (YTD) return of +19.91%. Furthermore, with a market capitalization of $15.692 billion, it has secured the 08th position in the market.
The Simple Moving Average (SMA) is on the brink of registering a bullish convergence in the 1D time frame. This suggests that the DOGE memecoin could continue gaining value this week.
However, the MACD indicator shows a constant red histogram in the Dogecoin price chart. This highlights a mixed-price sentiment for the largest meme coin.
If the memecoins regain momentum, this could result in the Doge coin price retesting its resistance level of $0.127. Moreover, if the bullish sentiment intensifies, this could result in it heading toward its upper resistance level of $0.155 in the coming time.
On the negative side, if the bears outrun the bulls, the Dogecoin price could retest its support level of $0.101. Further, if the bears dominate the crypto space, this could result in it plunging toward its crucial support level of $0.0780.
Curious about the memecoin leader’s long-term prospects? Read our Dogecoin (DOGE) Price Prediction 2024 – 2030
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