Dogecoin price sees 15% drop in next few days

Dogecoin is currently trading at a significantly lower price than its six-month high of $0.1572, offering investors the opportunity to take advantage of significant discounts to accumulate.

• Dogecoin Drops 11% Following News Of Twitter Plans To Halt Crypto Integration Project
• DOGE has rebounded in the last 24 hours, up almost 7%.
• Asset sees $0.136 as key point for further price surge

According to tracking from coin geckothe dog-themed crypto is trading at $0.1304 as it surges 6.7% over the past 24 hours.

Week-to-date gains are currently at 55.2%, but have risen 119.8% over the past two weeks and 102% over the last month.

Dogecoin was able to maintain its 8th place despite a slightly larger price dropth It is the largest cryptocurrency by market cap, with an overall valuation of $17.83 billion.

Whether or not it can stay in that sweet spot is anyone’s guess at this point as DOGE has been back and forth on its price trajectory. For now, the chart seems to point to a 15% drop over the next few days.

Dogecoin Price Analysis

DOGE daily price chat shows a lot Higher Price Rejection Zone close to the $0.15 marker. This is because the altcoin bull move has lost momentum, losing his 11% of its value over the past three days.

Source: TradingView

Digital coins are doing their best to hold the critical Fibonacci retracement level of $0.12 and will be severely impacted by significant selling pressure that could cause Dogecoin to drop another 12% to test the $0.11 zone. may receive it.

Meanwhile, the asset’s daily Relative Strength Index (RSI) settled into overbought territory, but overall sentiment is heading for a bullish move as the value sits at 72.4%.

Analysis of other DOGE indicators suggests that a successful breakout of the $0.136 area would invalidate earlier theories of a possible downside and instead allow the asset to reach $0.152. increase.

The recent rise in cryptocurrencies is due to improved market conditions and recent twitter purchase Self-proclaimed “Dogfather” Elon Musk.

Twitter may not be DOGE friendly after all

After Musk acquired social media platform Dogecoin for $44 billion, swelled violentlyraises its price by about 130%.

This proves that vocal DOGE supporters are still one of the biggest factors that can influence the asset’s price trajectory.

Analysts believed that demand for the token surged after the Twitter acquisition as hopes of the token being used as an accepted currency for payment for services were revived.

That idea may be out of the question for now, as reports are circulating that the social media giant is now under new management and plans to halt all plans related to crypto integration.

Following this, DOGE decreased by more than 11% in just 24 hours. i can’t think of a friend everytime.

Still, the whale seems unaffected by the development, with over $18 million worth of Dogecoin moving from wallet to wallet in the same period.

DOGE total market cap at $16.9 billion on the weekly chart | Featured image from Laptop Mag, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal understanding of the crypto market and should not be construed as investment advice.