{"id":1133,"date":"2023-02-26T08:04:25","date_gmt":"2023-02-26T02:34:25","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=1133"},"modified":"2023-02-26T08:04:26","modified_gmt":"2023-02-26T02:34:26","slug":"dogecoin-sellers-crowd-doge-market-ahead-of-the-weekend","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/dogecoin-sellers-crowd-doge-market-ahead-of-the-weekend\/","title":{"rendered":"Dogecoin: Sellers Crowd DOGE Market Ahead of the Weekend"},"content":{"rendered":"\n
\"Dogecoin\"\/
credit \u2013 Unsplash.com<\/figcaption><\/figure>\n\n\n\n

Cetoex News –<\/strong> The cryptocurrency market has been experiencing a downtrend. Almost every asset had dropped in the last 24 hours. This included meme coins like Dogecoin [DOGE] as well as Shiba Inu [SHIB]. It looks like Elon Musk\u2019s favorite cryptocurrency could continue this trend into the weekend as well.<\/p>\n\n\n\n

At press time, Dogecoin was trading for $0.08437 with a 1.28% daily drop. The asset\u2019s trading volume followed suit and dipped by 35% over the last 24 hours.<\/p>\n\n\n\n

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Source \u2013 DOGE\/USDT Chart on TradingView<\/figcaption><\/figure>\n\n\n\n

As seen in the above chart, the price of DOGE has been moving sideways in the asset\u2019s 4-hour chart. Therefore, the direction of its breakout is uncertain. However, a prominent indicator was pointing toward the bears.<\/p>\n\n\n\n

The Relative Strength Index [RSI] indicator indicated that there were more sellers at the time. With the RSI marker below the 50-day median, the indicator hinted at a bullish notion. If this trend persists, Dogecoin could drop to its immediate level of support, which is at $0.8087. If the bulls decide to pay a visit, the asset might move toward the $0.0900 range.<\/p>\n\n\n\n

Despite the advent of the bears, most of the Dogecoin holders were pocketing profits. Data from Into The Block revealed that 58% of the holders were making money at the asset\u2019s current price. Only 37% of them were suffering a loss.<\/p>\n\n\n\n

Dogecoin\u2019s social engagements take a hit as other meme coins thrive<\/h3>\n\n\n\n

Despite constant tweets by \u201cDog Father,\u201d Elon Musk, the asset did not rise in terms of its social volume. According to Lunar Crush, weekly social engagements have decreased by 24%.<\/p>\n\n\n\n

\"\"
Source<\/figcaption><\/figure>\n\n\n\n

However, the asset\u2019s other on-chain metrics remained prime. According to Messari, Dogecoin was the 6th most\u00a0active network\u00a0right below\u00a0Litecoin\u00a0[LTC]. The total transaction volume of the network was $118 million, with 49,955 active addresses.<\/p>\n\n\n\n

<\/p>\n\n\n\n

NEWS BY – CETOEX NEWS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Cetoex News – The cryptocurrency market has been experiencing a downtrend. Almost every asset had dropped in the last 24 hours. This included meme coins like Dogecoin [DOGE] as well… <\/p>\n","protected":false},"author":1,"featured_media":912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[24],"tags":[41,44,26,232,261,49,406],"class_list":["post-1133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alt-coin","tag-cetoex","tag-cetoex-news","tag-cryptocurrency","tag-doge-army","tag-doge-coin-price-prediction","tag-dogecoin","tag-dogecoin-price"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/01\/dogecoin-much-wow-1-800x450-1.jpg","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1133"}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=1133"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1133\/revisions"}],"predecessor-version":[{"id":1134,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1133\/revisions\/1134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/912"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=1133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=1133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=1133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}