Dogecoin [DOGE] was seen riding the bear, similar to all the other coins in the market. Bitcoin [BTC] seemed to be having a hard time setting up a significant line of support as well as resistance. The king coin was back at $32K, during press time, with a 3% slump in the last 24-hours. Ethereum [ETH] followed a similar notion as its price was slashed from $2K. ETH was trading for $1,974.
At the time of writing, DOGE was priced at a low of $0.20 with a 5.77% in the last 24-hours. The coin didn’t fare all that well over the last couple of days either. The altcoin plummeted by about 15% in the previous seven days. The altcoin seemed to be on the brink of dropping down below $0.20.
Not only did Dogecoin fall in terms of price, but also a market cap. While the overall market cap of the crypto-verse stands at $1.35 trillion, DOGE was seen accounting for $26.24 billion of the total number. Other prominent coins like Cardano [ADA], XRP, and USD Coin [USDC] had overshadowed DOGE and pushed the latter to the eighth rank.
Dogecoin [DOGE] one-hour price chart on Binance
The short-term price chart of DOGE observed a conflict between the bull and the bear. The Parabolic SAR indicator announced the presence of the bull by laying out dotted lines over the candlesticks. However, the majority inclined towards the bear.
The Chaikin Money Flow [CMF] indicator was seen singing to a whole new tune. The CMF marker was below the zero median, which is considered a bearish momentum. The signal line was slowly taking over the MACD line which further indicated a bearish crossover.
Dogecoin [DOGE] notes strong sellers’ sentiment
The one-hour price chart of DOGE announced a major sellers’ market. The Relative Strength Index [RSI] indicator was making its way onto the oversold zone. The RSI marker was going towards 20 median. The Money Flow Index [MFI] mirrored this notion as it dropped to the sellers’ arena.