After exceeding Tron and entered the first eight cryptocurrencies by market capitalization, Dogecoin officially found its place as one of the most precious digital assets. The same part, which is frequently struck off due to its nature of meme, is always resilient on the competitive market of cryptocurrencies without offering fundamental value. More than a simple symbolic change, the market classification shows that investors are more confident in Doge.
This change occurs on a market that stagnates relatively and where the majority of Altcoins have struggled to gain ground. Dogecoin experienced an increase in value due to its tenacity and its robust community even if it has consolidated around the fork of $ 0.155. Technically, DOGE is still in a downward trend that started in February and is marked by resistance along the significant exponential movable averages and the lower ups. The 100 EMA is looming more above, while the 26 EMA and 50 EMA continue to serve as levels of resistance to general costs.
The price has formed a slight ascending model with the current support, which is about $ 0.15. This suggests that there can be an accumulation phase before a possible escape. Dogecoin continues to present a solid transactional activity compared to many other altcoins despite the remaining volume remaining relatively low but not non -existent. Since the relative force index (RSI) is close to 44, it indicates that there are still growth possibilities because the assets are neither onbouillé nor occurring.
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Withdrawal $ 0.17, which complies with the 50 EMA consolidation levels and anterior, it would be an important turning point in the future. An aggressive rally to $ 0.20 and possibly $ 0.23, where the 100 EMA and the more robust resistance are located, could be triggered by a breakthrough there.
DOGE can use its market position to produce unexpected performance in the coming months as the general feeling improves and Bitcoin begins to increase. However, it will not be so easy given the generally lowering feeling in the cryptocurrency market caused by global economic factors.
