- Dogecoin traded below the baseline to a major extent yesterday, as observed from the one-day price chart
Dogecoin (DOGE) has had to bear the brunt of the bears in the crypto market like most other major altcoins. The price has been fluctuating ever since the bears have taken hold of the market and they seem to be in no hurry to leave. From the one-day DOGE price chart, looks like the bears are here to stay. The price has been fluctuating in the narrow range of $0.0023 – $0.0025
Dogecoin Price Analysis:
The price of DOGE had started the day on a good note, but the bear pressure was too hard to sustain in the crypto market and the prices were below the baseline price by the end of Oct 01. At 1:31, the price of DOGE was at $0.0024. It then rose to $0.0025 at 11:56, the rise being to the extent of 5.40%. With the bear volatility in full swing, the prices went sliding down to the extent of 7.41% at $0.0023 at 17:56. From here the price of DOGE managed to recover to the tune of 3.88% at 23:27 at $0.0024. Today, the price of DOGE is at $0.0024 indicating the price has been moving in a flat range
The beginning of 2019 was not a good time for the price of DOGE. Still it was able to gain traction and manage an upward momentum till the bearish volatility hit the crypto market in July. From there onwards, it was a downward slide and the price of DOGE has been trying not to get too much pushed by the bears. Analysts expect the short-term bearish trend to continue for some time and play havoc on the price of DOGE. The crypto market is expected to be bullish by the year-end.
Investors do not have much say in this ongoing bearish crypto market sentiment and should hold their investments from a long term perspective. Short term investors may not have much options to trade.