Dogecoin price analysis for February 12, 2023, shows the meme cryptocurrency following an increasing movement for the last 48 hours. The price rose from $0.0799 to $0.0828 on February 11, 2023. Dogecoin gained a more positive movement today and significantly increased its value. However, today the cryptocurrency continues a bullish movement and is at $0.0844 at the time of writing.
Dogecoin’s price today is $0.0844, with a 24-hour trading volume of $1.05B, a market cap of $11.18B, and a market dominance of 1.07%. The DOGE price increased by 2.92% in the last 24 hours.
Dogecoin reached its highest price on May 8, 2021, when it was trading at its all-time high of $0.738595, while Dogecoin’s lowest price was recorded on May 7, 2015, when it was trading at its all-time low of $0.00008547. The lowest price since its ATH was $0.049701 (cycle low). The highest DOGE price since the last cycle low was $0.156883 (cycle high). The Dogecoin price prediction sentiment is currently bearish, while the Fear & Greed Index is showing 50 (Neutral).
Dogecoin’s current circulating supply is 132.67B DOGE out of the max supply of 132.67B DOGE. Regarding market cap, Dogecoin is currently ranked #3 in the Proof-of-Work Coins sector, #1 in the Meme Coins sector, and #6 in the Layer 1 sector.
DOGE/USD 1-day price analysis: Recent developments
Dogecoin price analysis seems to show the market following a positive movement, with the market’s volatility entering a closing movement, consequently tightening the market. This makes the price of the cryptocurrency less prone to experience volatile change on either extreme. As a result, the high price of the cryptocurrency stands at $0.0846, while the open price of the cryptocurrency is $0.0844. Conversely, the low price of DOGE is present at $0.0842, with a change of -0.25% and a close price of $0.0842.
The DOGE/USD appears to cross under the curve of the Moving Average, indicating a bearish movement. The price seems to move upwards toward the resistance band, attempting to reverse the current trend. As the volatility happens to close, this could be in favor of the bulls, as a breakout would explode the volatility providing more room to the bulls for further activity.
Dogecoin price analysis reveals the Relative Strength Index (RSI) to be 46, indicating a stable DOGE number falling in the stable region. In addition, the RSI score appears to move upward, indicating an increasing market and dominant buying activities, signifying an upward trend in the market.
Dogecoin price analysis for 7-days
Dogecoin price analysis shows the market to be following a downward movement, with its volatility increasing. In addition, the market appears to be undergoing an opening movement, indicating future volatility bursts. This makes the DOGE price more prone to undergo change on either extreme in its current state. The high price for DOGE exists at $0.0846, while the open price of DOGE is present at $0.0841. Conversely, the low price for DOGE is at $0.0839, with a change of 0.20% and a close price of $0.0842.
Dogecoin appears to follow a bullish movement, with the DOGE/USD price crossing over the curve of the Moving Average. The upward movement indicates an increasing market for the meme cryptocurrency. The price attempts to meet the resistance band soon. If they happen to meet, the market will break and reverse the market dynamic.
The Relative Strength Index (RSI) score is 49, signifying the stability of the meme cryptocurrency. Dogecoin falls in the stable region following a downward movement. The decrease in the RSI score represents the dominance of the selling activities and the movement toward further decreasing dynamics.
Dogecoin Price Analysis Conclusion
Dogecoin price analysis reveals the cryptocurrency following an increasing movement, showing potential towards the positive extreme. However, the market shows colossal potential for a reversal in the coming days due to the price moving toward the resistance. If the bulls manage to use it to their advantage, they might engulf the market and help raise the price of Dogecoin beyond expectations.