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• While a significant portion of the altcoin market is recovering well, Dogecoin (DOGE), the world’s largest meme coin, is facing strong selling pressure.
• The $0.0959 level holds great significance for Dogecoin (DOGE) and has served as a resistance barrier that the meme coin struggled to surpass for nearly 11 months in the past.

$0.0959 수준은 Dogecoin(DOGE)에 큰 의미를 가지며 과거 거의 11개월 동안 밈 코인이 능가하기 위해 분투했던 저항 장벽 역할을 해왔습니다.

• In the early hours of Monday, Dogecoin’s founder, Billy Markus, also known as Shibetoshi Nakamoto, humorously reacted to bearish trends on Twitter.

Dogecoin price faces selling pressure as cryptocurrencies recover: Which levels to watch for DOGE?

Dogecoin Price Faces Selling Pressure

Dogecoin 가격은 판매 압력에 직면

While a significant portion of the altcoin market is recovering well, Dogecoin (DOGE), the world’s largest meme coin, is facing strong selling pressure. Currently, Dogecoin (DOGE) price is trading at around $0.096, down more than 4%, and is losing its ninth position against Avalanche (AVAX).

According to a crypto analyst, the TD Sequential indicator has given a weekly chart sell signal for Dogecoin (DOGE). This development aligns with a significant resistance level that previously hindered Dogecoin’s rise. In the event of a correction, the analyst suggests potential price declines to the range of $0.085 to $0.078. However, if Dogecoin manages to surpass the $0.11 level, a bullish scenario may unfold that could neutralize the current bearish outlook.

The $0.0959 level holds great significance for Dogecoin (DOGE) and has served as a resistance barrier that the meme coin struggled to surpass for nearly 11 months in the past. Following this recent breakout, Dogecoin’s price has become vulnerable to potential further declines and is at risk of losing support at $0.0900. The subsequent critical support is at $0.0840, and a breach could lead to a 11.5% decline for the cryptocurrency.

$0.0959 수준은 Dogecoin(DOGE)에 큰 의미를 가지며 과거 거의 11개월 동안 밈 코인이 능가하기 위해 분투했던 저항 장벽 역할을 해왔습니다. 최근의 돌파 이후 Dogecoin의 가격은 잠재적인 추가 하락에 취약해졌으며 0.0900달러의 지지를 잃을 위험에 처해 있습니다. 후속 중요 지원은 $0.0840이며 위반으로 인해 암호화폐가 11.5% 하락할 수 있습니다.

Despite recent negative developments, indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) still reflect some bullish tendencies in the market. This positive outlook could contribute to DOGE redefining $0.0959 as support. Such an achievement might push the meme coin towards $0.1000 and set the stage for further upward movement.

DOGE Founder Reacts to Bears

In the early hours of Monday, Dogecoin’s founder Billy Markus, humorously reacted to bearish trends on Twitter, also known as Shibetoshi Nakamoto. Markus wrote on Twitter: “Oh no, crypto is dead, everything is dead, etc.” This joke received positive reactions from the community and was endorsed by Elon Musk, known as the owner of DOGE.

월요일 이른 시간에 Dogecoin의 창립자 Billy Markus는 Shibetoshi Nakamoto라고도 알려진 Twitter의 약세 추세에 유머러스하게 반응했습니다. Markus는 트위터에 이렇게 썼습니다. “안돼, 암호화폐는 죽었고, 모든 것이 죽었어.” 이 농담은 커뮤니티로부터 긍정적인 반응을 얻었으며 DOGE의 소유자로 알려진 Elon Musk의 지지를 받았습니다.

There’s a new leader in the meme coin space, and it’s Solana-based BONK. In the past week, the meme coin Bonk, operating on the Solana blockchain, has shown remarkable performance, outperforming others. With an impressive surge, the digital asset recorded a notable 150% value increase, surpassing the gains of Dogecoin, Shiba Inu, Pepe, and Floki Inu, ultimately reaching an all-time high.

밈 코인 분야의 새로운 리더가 바로 솔라나 기반의 BONK입니다. 지난 주 솔라나 블록체인에서 운영되는 밈 코인인 Bonk는 다른 코인들을 압도하는 놀라운 성과를 보여주었습니다. 인상적인 급등과 함께 디지털 자산은 150%라는 눈에 띄는 가치 상승을 기록하여 Dogecoin, Shiba Inu, Pepe 및 Floki Inu의 이익을 능가하고 궁극적으로 사상 최고치를 기록했습니다.

The post Dogecoin Price Faces Selling Pressure: Which Levels are Critical for DOGE? appeared first on COINOTAG NEWS.

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