While most of the altcoin market is showing good recovery, the world’s largest memecoin – Dogecoin (DOGE) – is facing strong selling pressure. As of press time, the Dogecoin (DOGE) price is down by over 4% trading at $0.095 and losing its ninth spot to Avalanche (AVAX).

대부분의 알트코인 시장이 좋은 회복세를 보이고 있는 반면, 세계 최대 밈코인인 도지코인(DOGE)은 강한 매도 압력에 직면해 있습니다. 보도 시간 현재 Dogecoin(DOGE) 가격은 4% 이상 하락한 $0.095에 거래되고 있으며 Avalanche(AVAX)에게 9위 자리를 빼앗겼습니다.

Key Support Levels to Watch for Dogecoin

Dogecoin에 주목해야 할 주요 지원 수준

Cryptocurrency analyst Ali Martinez has reported that the TD Sequential indicator has issued a sell signal on the weekly chart for Dogecoin ($DOGE). This development coincides with Dogecoin encountering a significant resistance level that has previously hindered its upward movements.

In the event of a correction, Martinez suggests potential price declines to the range of $0.085 to $0.078. However, a bullish scenario could unfold if Dogecoin manages to surpass the $0.11 mark, effectively negating the bearish outlook.

조정이 발생할 경우 마르티네즈는 잠재적인 가격 하락폭을 $0.085~$0.078 범위로 제안합니다. 그러나 Dogecoin이 0.11달러를 돌파하여 약세 전망을 효과적으로 무효화한다면 강세 시나리오가 전개될 수 있습니다.

The $0.0959 level holds significant importance for Dogecoin ($DOGE), historically serving as a resistant barrier that the meme coin struggled to breach for nearly 11 months until achieving a breakthrough in the past week.

Following this recent breakthrough, Dogecoin’s price is now vulnerable to potential further declines, risking the loss of support at $0.0900. The subsequent critical support is at $0.0840, and a breach could lead to an 11.5% downturn for the cryptocurrency.

최근의 돌파구 이후 Dogecoin의 가격은 이제 잠재적인 추가 하락에 취약하여 $0.0900의 지원 손실 위험이 있습니다. 후속 중요 지원은 $0.0840이며 위반으로 인해 암호화폐가 11.5% 하락할 수 있습니다.

Despite the recent setback, indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are still reflecting some bullish sentiment in the market. This positive outlook could contribute to a recovery, potentially aiding DOGE in reestablishing $0.0959 as a support level. This achievement might propel the meme coin towards $0.1000 and set the stage for further upward movements.

DOGE Founder Reacts to Bears

DOGE 창립자는 곰에 반응합니다

In the early hours of Monday, Dogecoin founder Billy Markus, also known as Shibetoshi Nakamoto on Twitter, humorously responded to bearish sentiments. Markus took to Twitter, stating, “oh no crypto died everything is dead blah blah blah.” The jest received positive reactions from the community, including approval from Elon Musk, the owner of X and affectionately dubbed the “DOGEfather.”

— Elon Musk (@elonmusk) December 11, 2023

— 엘론 머스크(@elonmusk) 2023년 12월 11일

There’s a new boss in the memecoin space and it’s the Solana-based BONK crypto. In the recent week, the memecoin Bonk, operating on the Solana blockchain, has notably outperformed its counterparts. Demonstrating an impressive surge, the digital asset recorded a remarkable 150% increase in value, surpassing the gains of Dogecoin, Shiba Inu, Pepe, and Floki Inu, ultimately achieving an all-time high.

The post Dogecoin (DOGE) Price Under Strong Selling Pressure, Key Support Levels to Watch appeared first on CoinGape.

강력한 매도 압력 속에서 도지코인(DOGE) 가격, 주목해야 할 주요 지원 수준이 CoinGape에 처음 등장했습니다.