Dogecoin [DOGE] gets hit by bear crunch as token falls to ninth place

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Dogecoin [DOGE] Gets Hit By Bear Crunch As Token Falls to Ninth Place

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Dogecoin’s price hikes seem to have come to a halt as the cryptocurrency continued on its stagnant price movement. Ever since the fall at the start of June, Dogecoin has been unable to recover its All-Time High behavior. One of the few positives about the behavior was that the immediate support has been untouched for more than two weeks.

At press time, Dogecoin was trading for $0.23 with a total market cap of $31.2 billion. The bear drop over the past couple of weeks made a significant dent in DOGE’s price action. A 17 percent weekly red line caused the daily trading volume to fall to $1.36 billion. Even though the cryptocurrency had rocketed to the podium spots earlier, currently it held the 9th position on the charts.

Dogecoin 1 hour:

doge 1hr

Dogecoin’s hourly performance was reminiscent of earlier bear runs where the support gets cut out from underneath. The memecoin’s safety line was drawn at the $0.26 mark as DOGE stayed afloat during trading hours.

Relative Strength Index: As of now, Dogecoin’s RSI is maintained in the middle of the graph. This meant that the number of users holding their assets and selling them was almost equal.

MACD: The signal line and the MACD moved upwards in tandem as the histogram blinked green A convergence may result in a change in Dogecoin’s price movement

CMF: Dogecoin’s short-term capital movement was not enough to disrupt the price action. The recent bear dip could be contributing factor in the graph’s dip below the zero line.

Dogecoin 1 day:

sol 1 d 1

Long term DOGE movement has been a sight to watch as it set its ATH in May after Elon Musk push The long term support clocked in at $1.5 as the bear set its set to form consecutive red candles

RSI: In the long run, DOGE’s buying momentum bad reduced since it’s a breach of the overbought zone. The graph had fallen below into the trading zone after more users sold their Dogecoin.

CMF: The CMF continued to stay below the zero line as capital influx reduced. According to the graph, Dogecoin had last enjoyed a strong CMF bullish run towards the end of April.

MACD: In the long run, the MACD line and the signal line moved downwards as the histogram ticked red

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