Market observers are seeing Dogecoin (DOGE) price retreating back into the red territory, expecting the meme coin to register new lows on a weekly, monthly and even yearly basis if some support does not come quickly to lift the sluggish coin. As of this writing, DOGE is trading at $0.0653, down 4.5% in the last seven days, data from Coingecko show, Sunday. Tesla CEO Elon Musk has always been an avid Dogecoin supporter. His fame and standing on the worldwide markets have enabled him to significantly influence the price and appeal of DOGE. Suggested Reading | Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls Where’s The Musk Tweet When Dogecoin Needed It? As DOGE takes a heavy beating in the ongoing bear market, it is only natural to think that, perhaps, another tweet from Musk might provide some boost of energy to the lethargic coin? Based on Coingecko charts, DOGE is down 0.6 percent in the one-hour timeframe, and 3.0 percent in the last 24-hours. Since the Dubai Economic Forum, where the billionaire talked about Twitter and steered clear of any topic about cryptocurrency, DOGE hasn’t received any social media “promotion,” especially from its superfan, Musk. As of Sunday’s quick overview, DOGE price looks bearish as analysts noted some weakness to retrace further; a consolidation has developed below $0.68. DOGE total market cap at $8.69 billion on the weekend chart | Source: TradingView.com Consequently, the DOGE/USD pair appears primed for more declines and to continue its path toward even more loss next week. The likely initial objective is the $0.61 mark, which emerged as a clear support and resistance level in the past. Suggested Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets Lethargic Dogecoin Feeling The Pinch In the past 24 hours, the broader cryptocurrency market has traded with moderate bullish momentum. Bitcoin lost 0.35 percent, the most among major cryptocurrencies, while Ethereum shed 2.16 percent. The remaining leading cryptocurrencies have followed closely behind. In the past three days, the DOGE price has rejected the $0.065 support zone, indicating that buyers are protecting this region. If the meme coin recovered from this support, buyers would bring the price back to the level of dual resistance. Last May, as Dogecoin’s price neared an all-time high of $0.72, the cryptocurrency’s loyal fan base believed that Musk’s upcoming appearance on “Saturday Night Live” that month would send the value of the parody coin “over the moon.” In the subsequent year, its price has plummeted back to Earth. As of the time of writing, Musk has remained absolutely mute regarding cryptocurrencies. Featured image from The Tech Outlook, chart from TradingView.com
View full article at NewsbtcBackground Photo by broh fulan on Unsplash
Quant Hedge Fund Two Sigma Hirin...
Cream Plunges on News That Hack ...
Indian National Congress Accuses...
CoinTelegraph (cointelegraph.com)
Blockchain-based private loans h...
Bitcoin won’t be beaten as dig...
Daily gas spent on EVM inscripti...
Bitcoin News (news.bitcoin.com)
BRICS Bloc Mulls Stablecoins, CB...
Crypto Assets Record 7-Day Uptic...
Crypto Exchange Okx Partners Wit...
‘Buy Bitcoin’ Note From Jane...
Here Are The Most Bullish Predic...
Shiba Inu Shibarium Faces Techni...
Unveiling the KARRAT Protocol: P...
Bitcoin Runes Set To Usher In Th...
Why Bitgert Coin Might Be the Ne...
Hoskinson says PRAGMA adds ‘se...
FTX creditors invited to bid on ...
Chainalysis proposes $10 million...
Ethereum Price Signals Reversal ...
Market Expert Predicts New Parad...
Bitcoin Miners Strike Gold: $107...
CryptoGazette (cryptogazette.com)
Another Day, Another Banking Sca...
US Banking Giant Pays $249,000,0...
Cardano To Explode by Over 1,300...
Bitcoin’s $109M outflow: A dip...
Shiba Inu: Should you trust this...
BAYC’s 3-year low: Will NFT ma...
BONK And PEPE Break Resistance: ...
Is Chimpzee Ready for a Pump? Wi...
Crypto Investment Essentials: So...
Celebrities May Have Their Dirty...
3 Ways Bitcoin Traders Can Spot ...
Blockchain as an Infrastructure:...
BinaryX Releases RhinoX Whitepap...
StreamCoin’s 1st Anniversary: ...
Ukrainian Real Agriculture Busin...
Benchmark Protocol (medium.combenchmarkprotocol)
Benchmark Protocol celebrates 1 ...
Benchmark Protocol Integrates Ch...
Bitcoin Magazine (bitcoinmagazine.com)
Reynolds Foundation Donates $1 M...
Swiss Central Bank Urged to Add ...
Bitcoin.com (news.bitcoin.com)
US Presidential Candidate RFK Jr...
Crypto Exchange Coinex Set to Au...
Tether Expands to TON Blockchain...
Centralized Exchanges Are Alread...
What Happens When the Last Bitco...
'Dragon's Dogma 2' Beginner’s ...
Fake letter claims Elizabeth War...
Unanswered questions about the B...
Is ‘cloud seeding’ behind Du...