Dogecoin price analysis for March 23, 2023, reveals that the meme-based cryptocurrency has been experiencing an upward trend over the last 48 hours. During this period, its price increased from $0.0722 to $0.0757 on March 22, 2023. Today, Dogecoin has shown even more positive momentum and has significantly increased in value. Currently, the cryptocurrency is continuing its bullish movement and is valued at $0.0767 at the time of writing.
The present trading data indicates that Dogecoin is currently being traded at a price of $0.0767 with a 24-hour trading volume of $1.69B and a market capitalization of $10.17B, representing a market dominance of 0.87%. The coin has witnessed a 1.77% increase in its price over the last 24 hours.
Dogecoin attained its all-time high price of $0.738595 on May 8, 2021, while its all-time low of $0.00008547 was recorded on May 7, 2015. Since reaching its all-time high, the lowest price of Dogecoin was $0.049701, which represents the cycle low, while the highest price of the coin since the last cycle low was $0.156883, representing the cycle high. Currently, the sentiment regarding Dogecoin’s price prediction is bearish, while the Fear & Greed Index depicts a level of 57, indicating greed.
The total circulating supply of Dogecoin is presently 132.67B DOGE out of its maximum supply of the same. Dogecoin currently holds the third position in the Proof-of-Work Coins sector, the first position in the Meme Coins sector, and the sixth position in the Layer 1 sector.
DOGE/USD 1-day price analysis: Recent developments
Dogecoin price analysis seems to show the market following a positive movement, with the market’s volatility entering a closing movement, consequently tightening the market. The stability of the cryptocurrency’s price reduces the likelihood of experiencing extreme fluctuations. At present, the highest price of the DOGE cryptocurrency is $0.0768, while the open price stands at $0.0751. In contrast, the lowest price of DOGE is currently at $0.0751, with a 2.28% change and a close price of $0.0768.
Currently, the DOGE/USD is showing a bullish movement as it has crossed over the Moving Average curve. However, there is a potential for a reversal in trend as the price is moving upwards towards the resistance band. This increase in volatility could favor the bulls, potentially prolonging a breakout and providing more opportunities for bullish activity.
Dogecoin price analysis reveals the Relative Strength Index (RSI) to be 52, indicating a stable DOGE number falling in the central neutral region. Furthermore, the RSI score is showing an upward movement, suggesting that there is an increasing market with dominant buying activities. The market indicates a positive trend.
Dogecoin price analysis for 7-days
Dogecoin price analysis shows the market to be following a downward movement, with its volatility decreasing. In addition, the market appears to be undergoing a closing movement, indicating future dormant dynamics. The current state of the DOGE price is showing greater susceptibility to extreme fluctuations. At present, the highest price for DOGE is $0.0768, with an open price of $0.0738. On the other hand, the lowest price for DOGE is $0.0737, representing a change of 3.90% and a close price of $0.0768.
The current movement of Dogecoin suggests a bearish trend, as the DOGE/USD price has crossed under the Moving Average curve. However, there is an upward movement indicating a growing market for the meme cryptocurrency. The price is aiming to reach the moving average band, and if it succeeds, it could break and reverse the current market dynamics.
The meme cryptocurrency Dogecoin is currently in a stable state with a Relative Strength Index (RSI) score of 47. This indicates that the market is stable after experiencing an upward movement. The increase in the RSI score reflects the dominant buying activities and suggests a potential for further upward movement.
Dogecoin Price Analysis Conclusion
Dogecoin price analysis reveals the cryptocurrency following an increasing movement, showing potential towards the positive extreme. Despite the current state of the market, there is significant potential for a reversal in the coming days as the price of Dogecoin moves toward the resistance level. This presents an opportunity for the bulls to take control of the market and drive the price of Dogecoin up beyond expectations.
