Dogecoin (DOGE)

The crypto-verse was glistening in green as the bulls had entered the market. Polkadot [DOT], Dogecoin [DOGE], Terra [LUNA], and Ethereum [ETH] were leading today’s bull run. After garnering massive gains yesterday, Binance Coin [BNB] was seen taking a breather. Nevertheless, the asset was already close to hitting $500.

Speculations from the community were in and it was highly inclined towards Bitcoin [BTC] hitting $60K anytime soon. On one hand, Ethereum [ETH] revealed that it was on its way to conquer the $4K zone. Polkadot [DOT], on the other hand, was on an upward trajectory. The altcoin jumped to $41.57 as it witnessed a daily surge of about 19%.

Dogecoin [DOGE] was also mirroring the ongoing sentiment in the market. The asset managed to gather gains of about 6.27% over the last 24-hours. At the time of writing, DOGE was trading for $0.237.

DOGE amassed attention from around the globe. As serious as the coin’s creators and Elon Musk wanted people to take the asset, it always remained a meme coin. More recently, Shark Tank’s Mark Cuban went on to recommend Dogecoin for “fun” to people.

Despite the consistent fluctuations in its price and market cap, Dogecoin managed to stay in the top 10. During press time, DOGE stood as the 10th largest cryptocurrency with a market cap of $31.4 billion.

Dogecoin [DOGE] one-hour price chart on Binance

The one-hour price chart of DOGE noted a reversal of the trend that the asset resided in. The Awesome Oscillator indicator managed to roll out a green closing bar after laying out an array of red bars that hinted at the presence of the bear. However, the latest transformation could be beneficial for the altcoin. The Chaikin Money Flow [CMF] indicator was currently below the zero median in the bearish arena. But, the CMF marker was pointed upwards and suggested that it could be making its way onto the bullish zone.

Additionally, the Relative Strength Index [RSI] indicator pointed out that the DOGE was being excessively bought.

The entire market was doing great as the bulls were all over the market. However, one asset wasn’t matching the ongoing notion. Dogecoin [DOGE], despite amassing massive gains over the week was seen dropping down. While the whole crypto market was surging to new highs, DOGE was stuck at a weekly low.

Bitcoin [BTC] was back in action as the king coin rose to a high of $54K with a 5.16% soar over the last 24-hours. The king coin’s market cap had finally hit a high of $1 trillion. All the other assets mirrored this emotion. SHIBA INU [SHIB] with a whopping 50% surge over the last 24-hours, was the star of the show. The altcoin managed to beat prominent assets like Litecoin [LTC], Chainlink [LINK] as well as Bitcoin Cash [BCH] in terms of market cap.

While all these assets were trying to make it big, Dogecoin [DOGE] was seen smeared in red. At the time of writing, DOGE was trading for $0.24 with a 2.15% drop over the previous 24-hours. The past couple of days have been extremely beneficial for the altcoin as it managed to bag gains of up to 22%.

The market cap of the meme coin was at $32.2 billion further allowing the coin a spot as the tenth-largest cryptocurrency.

Dogecoin [DOGE] one-hour price chart on Binance

The short-term price chart or one-hour chart of DOGE revealed contradicting notions. The Awesome Oscillator indicator noted that the bulls were slowly trying to make a come back into the DOGE market by laying out green closing bars. However, the MACD indicator was still in a bearish crossover. With the signal line residing over the MACD line, DOGE has been in this zone since yesterday.

Furthermore, the Relative Strength Index [RSI] indicator revealed that Dogecoin was in the sellers’ zone as the RSI marker was down below the 50 median.

Out with the bear and in with the bull. All the assets were embracing this bullish notion. However, Dogecoin [DOGE] had taken things up a notch. Despite falling hard in terms of both price and market cap, the altcoin was seen outshining other assets in terms of daily gains.

Bitcoin [BTC] had finally hit the $50K mark. After a long and hard struggle, the king coin managed to steer towards its current zone. Simultaneously, the market cap of the asset rose over a high of $900 billion and was seemingly on its way over to $1 trillion. Ethereum [ETH] had marked its territory at $3K and vowed not to fall back again. Similarly, all the assets noted a major uptrend.

Despite starting out as a meme coin, Dogecoin [DOGE] managed to garner the attention of the entire globe. Its popularity was on par with that of Bitcoin’s for the longest time. With GenZ expressing immense interest in the asset, DOGE became a household name. All this popularity had no effect on the price of the coin. Not only did the asset fail to hit $1, but it also prolonged its downtrend.

At the time of writing, DOGE was trading for $0.23 with an 11.69% surge in the last 24-hours. The market cap of the asset was at $31.3 billion which allowed DOGE a spot as the tenth-largest cryptocurrency.

Dogecoin [DOGE] one-hour price chart on Binance

Dogecoin’s hot streak was certainly coming to an end. The short-term price chart of DOGE noted major signs of the bear. The Parabolic SAR indicator formed dotted lines over the candlesticks which acted as a line of resistance. Not only did this line block any further uptrend, but it could also push DOGE down. The Chaikin Money Flow [CMF] indicator was still on the bullish side. However, the CMF marker was pointed towards the bearish zone.

The Relative Strength Index [RSI] indicator suggested that the DOGE market had increased buying activity.

Just as the month flipped the incessant blues of September halted. Dogecoin [DOGE] also hinted at recovery as the global market cap soared above $2 trillion. As the broader market saw momentum re-enter, DOGE reversed its weekly losses and was up by 9.23%. However, the crypto-asset’s attempt to make a sustainable upward push near a crucial resistance level.

Of late, Dogecoin’s [DOGE] uptrend phases have not lasted for long. Over the past day, DOGE noted a minor dip of 0.38% which pushed the price to $0.216. At the time of writing, the crypto-asset recorded a market cap of $28.5 billion and a 24-hour trading volume of $1.08 billion.

Dogecoin [DOGE] Daily Price Chart:

Despite the mild surge, DOGE is yet to see signs of increasing volatility. As several crypto-assets appeared to be recovering from a death cross, on the other hand, the popular meme coin was undergoing one. The 50 DMA [Pink] and the 200 DMA [Yellow] were on the verge of a death cross above the candlestick arrangement, a mega bearish signal can potentially push the asset to a downward spiral. The 100 DMA [Blue] also remained above the DOGE price candles and continued to resist any uptrend.

The technicals depicted an uncertain picture. The dotted markers of the Parabolic SAR continued to remain above the candlestick arrangement exhibiting the presence of bears in the coin market. The green closing bars of the Awesome Oscillator [AO] indicated the formation of weak bullish momentum. On the other hand, the daily Relative Strength Index [RSI] was still hovering in the bear market territory even after shifting from the support found against the first oversold condition at 30. On the upside, the RSI formed a bullish divergence which can save its price from further sell-off.

If Dogecoin manages to surge past $0.25-level, the resistance levels of $0.33, $0.42, and $0.55 level would come into play. The crypto-asset’s support levels were found to be at $0.171 and $0.050 respectively.

Both the bears and the bulls were residing in the crypto market. Dogecoin [DOGE] and Polakdot [DOT] were harboring the bears while all the other coins had the bulls grazing in their market.

After yesterday’s bearish wave, most of the coins were running towards the bull. Bitcoin [BTC] was trying to get back into its form by aiming for $50K. At press time, BTC was trading for $48,613. Additionally, the coin’s market cap witnessed a surge and finally moved beyond $910 billion. Solana [SOL] was back in the game as the asset was rising by a whopping 17.44% which further pushed the price of the coin to $163.

Dogecoin [DOGE] had a confusing year. With major fluctuations in its price, DOGE was left gasping for air. While most of the assets were surging, DOGE noted a 5.57% daily drop. The altcoin was trading for $0.24, during the time of writing. The asset barely made gains throughout the week.

Crypto rankings were significantly impacted. An array of new coins joined the top ten and prominent currencies lost their spot on this list. With assets like Solana [SOL] making a debut in the top ten, Dogecoin plummeted with regard to ranking. The altcoin was ranked at the 9th position with a market cap of $31.9 billion.

Dogecoin [DOGE] one-hour price chart on Binance

The one-hour price chart of DOGE on the crypto exchange Binance noted the emergence of the bear. The Chaikin Money Flow [CMF] indicator remained over the zero median in the bullish area. However, the CMF marker was quite close to the bearish zone. The Klinger Oscillator indicator was still in a bullish crossover, but a bearish crossover wasn’t far away. Both the lines were extremely close to each other. This could mean that the bears could soon take DOGE down.

The Relative Strength Index [RSI] indicator noted no major buying or selling activity. The RSI marker stayed still at the 50 median.