Dogecoin Community Exploration
Discover the deeper value of dogecoin and the latest developments of dogecoin whales.
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Jun / 24
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- Dogecoin drops 11% this week: Can DOGE rebound to $0.127 or higher?
- Jun 24, 2024 at 07:09 pm AMBCrypto
- Dogecoin (DOGE) has faced significant losses in recent days, with its price dropping below a crucial support level. The weekly and daily charts indicate a downtrend, with over 11% decline in the past week and 4% in the last 24 hours. Key metrics from IntoTheBlock show that while 72% of investors are still in profit, confidence in the coin has waned. Chain data analysis from Santiment reveals a bearish outlook, with a sharp fall in DOGE's MVRV ratio and a decline in Daily Active Addresses. Despite this, the daily chart suggests a possible trend reversal, with the Chaikin Money Flow indicating a potential further price drop, but the Relative Strength Index approaching the oversold zone, which could lead to buying pressure.
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