Dogecoin Price Prediction as DOGE Overtakes Cardano with $800M Volume – Gains Ahead?
Over the last 24 hours, the Dogecoin price has dipped slightly by 0.85% as the overall market has started to see growth, with meme coins averaging a 1.9% increase.
However, it seems like Dogecoin is gearing up for some upside.
This fall continues the 11.42% drop in the Dogecoin has seen since last Tuesday, aligning with the losses observed in leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) .
Over the past month, Dogecoin has fallen 25.32%. Despite this, Dogecoin still retains a modest annual return of 67.01%.
Indeed, with less than optimal price action in recent weeks, trader interest in Dogecoin has seen a small dip. The coin’s 24-hour trading volume has fallen by 4.36% to $822.06M over the past day.
However, traders appear to be more engaged in Dogecoin than Cardano, with DOGE overtaking ADA in coin rankings on aggregators such as CoinCodex.
After teetering between a gain and a loss today, it seems Doge may be poised for some upside.
Most significantly, the Dogecoin price seems to have successfully overcome the $0.10844 resistance level (dark green) after battling with it over the past 8 hours. This indicates renewed strength after correcting earlier today.
This is demonstrated in the relative strength index (RSI) (Purple), which has fallen from 80 to 60 over the past 12 hours. This represents a move from oversold territory to a more neutral one, erring on bullishness.
Despite the correction, Dogecoin still stands on strong footing, hinting at potential upside.
While these indicators do look positive, wider trends will provide the best insight into where the Dogecoin price is headed.
Notably, the 30DMA (yellow) has started to trend upward, sitting below the 200DMA (blue) which displays a
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