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DOGE price analysis 10 July 2019; Dogecoin’s growth is slowing down

Dogecoin 17 may price analysis 2019

Dogecoin managed to consolidate quite a lot because of the Binance listing, but all of the gains that the coin saw within that small time frame has all but disappeared.

The highest it managed to spike to was $0.0045 around three days ago, but now the price has corrected back to $0.0034 at press time.

Now though, the price has tanked even further due to the recent market fall. Almost no altcoin managed to survive the fall and the only crypto that’s relatively stable right now is Bitcoin, but it will also probably stumble even further down.

DOGE price chart

DOGE chart by Trading View

Due to the fall and already existing bearish sentiment in the market, it’s unlikely that Dogecoin can consolidate on a serious level.

Furthermore, much like the case with VET, Dogecoin’s consolidation has fallen for the “de-hype” phenomenon that every major spike is a victim of.

In the future, DOGE would be lucky to remain its position on the $0.0030 crucial resistance level as it doesn’s have enough backing to maintain its relevance.

Much like every other altcoin, the sentiment for DOGE is bearish for the short term, but there is also a very small room for growth in the long term as well.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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