The latest price of Dogecoin at 06:00 on July 26, 2024

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: Dips Below $0.13 as Bears Regain Control

As of July 26, 2024, at 06:00 AM, Dogecoin (DOGE) is trading at $0.12514627720083, with a 24-hour trading volume of $981,118,859.30522. The price of Dogecoin has declined by 3.34267257% over the past day.

Key Metrics:

• Current Price: $0.12514627720083
• 24-Hour Trading Volume: $981,118,859.30522
• Price Change (24 hours): -3.34267257%
• Bitcoin (BTC) Dominance: N/A
• Circulating Supply: 145,265,566,383.71 Dogecoin
• Maximum Supply: N/A
• Total Supply: 145,265,566,383.71
• Market Cap: $18,179,444,838.391

Technical Analysis:

Dogecoin has been trading in a downward trend since its recent high of $0.1324 on July 24. The bears have successfully breached the $0.13 support level, indicating further downside potential. The Relative Strength Index (RSI) is currently at 43.48, suggesting that the asset is in neutral territory. However, the Moving Average Convergence Divergence (MACD) has just crossed below the signal line, indicating a possible bearish shift in momentum.

Outlook:

The short-term outlook for Dogecoin is bearish. The price has broken below the important $0.13 support level and is approaching the next significant support at $0.1230. If the bears manage to break below this level, Doge could continue to decline towards $0.12 or even lower.

On the other hand, if the bulls manage to regain control and push the price back above $0.13, Dogecoin could recover and attempt to reach higher levels. However, the overall trend remains bearish, and any recovery attempts could be met with strong selling pressure.