- Dogecoin price is still highly volatile due to continual bear pressure as seen from the one-day price chart
Dogecoin price has undergone a lot of variations in its price due to the volatility in the crypto market since the beginning of the year. There have been phases of bullish and bearish phases for the coin with the bearish phase getting stronger since July. The coin is still struggling to gain its stable momentum in the ongoing bearish market as seen from the one-day price chart where the price has been hovering in the range of $0.0022–$0.0027.
Dogecoin Price Analysis:
The price of DOGE underwent a lot of variations over the past one day on Oct 13, as seen from the price chart where initially the prices went on an upward swing but by the end of the day had reached below the baseline. From a low of $0.0022 at 1:12, the price of DOGE had a good rally and reached $0.0027, the rise being to the extent of 18:43%. The crypto market being still volatile, the price fell to $0.0024 at 15:50, fall being to the tune of 8.25%. The price of DOGE did try to recover at 20:04 UTC to $0.0025, to the extent of 3.68%. By the end of the day, the price of DOGE again fell by 4.80% at $0.0024. The current trading price of Dogecoin is at $0.0025, exhibiting a rise of 4.17%.
DOGE price is still under a lot of pressure from the bears in the crypto market though the bulls are trying to get back on track. The price is still heavily controlled by the bears and the short-term holds a bearish outlook. Experts expect the crypto market to be bullish by the year end and accordingly the price of DOGE is expected to go up as observed from the historical trend. Investors may need to have some more patience as the crypto market is still highly volatile. This is a good time to buy for long-term investors. Short-term traders may not gain much in the current market trend.