Dogecoin Price Plunges 4% As This New Meme Coin Staking Platform Zooms Past $1.8 Million In Presale

Dogecoin Price Fluctuates

In the past 24 hours, Dogecoin has declined by 4%, currently trading at $0.1226 with a trading volume of $877.3 million, a 40% decrease.

While Dogecoin remains over 14% higher on the weekly chart, its daily performance witnessed a significant price dip on September 30th.

Dogecoin Price Prediction

Dogecoin's price has found support at $0.122 and has remained slightly above it in recent hours, with its price generally stabilizing. Technical indicators suggest stability, with a potential for a price increase if bulls regain momentum.

Currently, Dogecoin's Bollinger bands have narrowed, but during the price drop, the price continued to push the lower band down. While narrowing is not typically bullish, the price's return to the midpoint between the upper and lower bands is a positive change.

The coin's Relative Strength Index (RSI) has also reached the neutral level of 47.92. Previously, the RSI climbed to 70, indicating overbought conditions, but then plummeted to 20, indicating oversold conditions.

This suggests that traders took profits when the RSI reached 70. The RSI's return to neutral suggests stability for the time being.

In the near future, the coin may experience a recovery due to the typical pattern following sharp price drops like the one DOGE has experienced. However, Bitcoin's influence remains significant, and Dogecoin will likely follow its lead.