Dogecoin Community Exploration
Discover the deeper value of dogecoin and the latest developments of dogecoin whales.
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Feb / 07
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- Dogecoin (DOGE) Price Decrease Continues – Should You Hold or Fold?
- Feb 07, 2024 at 12:14 am BeInCrypto
- The Dogecoin (DOGE) price continues to decrease from its 2023 high of $0.107 on December 11. Currently, DOGE is approaching the end of a short-term pattern and investors are wondering if the price will break down further or if it can initiate a reversal. Technical analysis on the daily time frame reveals that DOGE has been consolidating inside an ascending parallel channel since June 2023. The upward movement reached its peak in December, but the price has since decreased. Initially, it bounced off the channel's resistance trend line, but in January 2024, it fell inside the channel, validating it as resistance twice. Currently, DOGE is trading close to the channel's midline, and investors are eagerly waiting to see if it will hold or fold
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