{"id":512674,"date":"2022-12-16T10:00:27","date_gmt":"2022-12-16T15:00:27","guid":{"rendered":"https:\/\/www.wncen.com\/?p=512674"},"modified":"2023-03-08T07:26:17","modified_gmt":"2023-03-08T07:26:17","slug":"doge-below-critical-level","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/dogecoin\/doge-below-critical-level\/","title":{"rendered":"Double-Digit Losses Brings Doge Below Critical Level, More Pain To Follow?"},"content":{"rendered":"

Dogecoin (DOGE) has seen some of the worst declines in the last week. The meme coin is already down double-digits during this time and is also recording losses on the daily charts. While this is not out of the ordinary given the current crypto market trend, the digital asset has been pulled below important critical levels, which would imply more declines.<\/p>\n

DOGE Could Go Down Further<\/h2>\n

Given Elon Musk\u2019s recent radio silence on his crypto plans for Twitter and thus Dogecoin by extension, the meme coin has been unable to maintain its upward momentum. It is now down almost 50% from its most recent November peak of $0.15. But perhaps more concerning is the fact that its 15% decline over the last 7 days has dragged it down below the 50-day moving average.<\/p>\n

Related Reading: What Ethereum\u2019s Rejection At $1,350 Says About The Cryptocurrency<\/a><\/div>\n

DOGE\u2019s 50-day MA is currently sitting at $0.086, whereas the price of the digital asset has now fallen to $0.082 in the last 24 hours. Previously, the cryptocurrency had been on a bullish path as it continued to maintain its value above this level. However, a decline below this point shows that there is now less buying in the market.<\/p>\n

The meme coin is continuing to maintain above its 100-day MA of $0.075 but this could also be short-lived if the sellers continue to gain momentum in the market. If the price were to fall below the 100-day MA, it would turn forecasts for the digital asset to sell not just for the medium term, but for the long term as well.<\/p>\n

\"price<\/p>\n

DOGE price at $0.082 | Source: DOGEUSD on TradingView.com<\/a><\/pre>\n
The Weekend Impact<\/h2>\n
The weekend is already established as a period of low volatility. This is because while the crypto market does not see a close of the trading week, the close of the broader financial markets impacts the market as well. It leads to less volume and less momentum in the market.<\/p>\n
Related Reading: Whale Accumulation Paints Bullish Picture For XRP<\/a><\/div>\n
Given this, it is important for cryptocurrencies such as DOGE to finish strong on Friday if they are to maintain a bullish trend through the weekend. Otherwise, the impact of this low volume can push the prices further down.<\/p>\n
If\u00a0 <\/span>DOGE is unable to beat the $0.09 resistance level before the end of Friday, then it could see the $0.07 territory before the weekend is over. There is not much support for the meme coin at this level, so bulls will likely have to build support around $0.065 to hold off the bears if this happens. However, if the digital asset can finish strong above $0.09, then there is the possibility of a rally above $0.1.<\/p>\n
DOGE was trading at $0.0826 at the time of this writing, according to data from Coinmarketcap<\/a>. It is down 5.85% in the last 24 hours and 25.83% in the last seven days.<\/p>\n
Featured image from Freepik, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin (DOGE) has seen some of the worst declines in the last week. The meme coin is already down double-digits during this time and is also recording losses on the daily charts. While this is not out of the ordinary given the current crypto market trend, the digital asset has been pulled below important critical levels, which would imply more declines. DOGE Could Go Down Further Given Elon Musk\u2019s recent radio silence on his crypto plans for Twitter and thus Dogecoin by extension, the meme coin has been unable to maintain its upward momentum. It is now down almost 50% from its most recent November peak of $0.15. But perhaps more concerning is the fact that its 15% decline over the last 7 days has dragged it down below the 50-day moving average. Related Reading: What Ethereum\u2019s Rejection At $1,350 Says About The Cryptocurrency DOGE\u2019s 50-day MA is currently sitting at $0.086, whereas the price of the digital asset has now fallen to $0.082 in the last 24 hours. Previously, the cryptocurrency had been on a bullish path as it continued to maintain its value above this level. However, a decline below this point shows that there is now less buying in the market. The meme coin is continuing to maintain above its 100-day MA of $0.075 but this could also be short-lived if the sellers continue to gain momentum in the market. If the price were to fall below the 100-day MA, it would turn forecasts for the digital asset to sell not just for the medium term, but for the long term as well. DOGE price at $0.082 | Source: DOGEUSD on TradingView.com The Weekend Impact The weekend is already established as a period of low volatility. This is because while the crypto market does not see a close of the trading week, the close of the broader financial markets impacts the market as well. It leads to less volume and less momentum in the market. Related Reading: Whale Accumulation Paints Bullish Picture For XRP Given this, it is important for cryptocurrencies such as DOGE to finish strong on Friday if they are to maintain a bullish trend through the weekend. Otherwise, the impact of this low volume can push the prices further down. If\u00a0 DOGE is unable to beat the $0.09 resistance level before the end of Friday, then it could see the $0.07 territory before the weekend is over. There is not much support for the meme coin at this level, so bulls will likely have to build support around $0.065 to hold off the bears if this happens. However, if the digital asset can finish strong above $0.09, then there is the possibility of a rally above $0.1. DOGE was trading at $0.0826 at the time of this writing, according to data from Coinmarketcap. It is down 5.85% in the last 24 hours and 25.83% in the last seven days. Featured image from Freepik, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":512680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,85675,7,87539,79599,79600],"class_list":["post-512674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-price","tag-dogecoin","tag-dogecoin-performance","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDouble-Digit Losses Brings Doge Below Critical Level, More Pain To Follow?<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has seen some of the worst declines in the last week. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/www.wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Double-Digit Losses Brings Doge Below Critical Level, More Pain To Follow?","url":"http:\/\/www.wncen.com\/news\/dogecoin\/doge-below-critical-level\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/dogecoin\/doge-below-critical-level\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2022\/12\/Dogecoin-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2022\/12\/Dogecoin-1.jpeg?fit=2000%2C1333"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge price","dogecoin","dogecoin performance","dogeusd","dogeusdt"],"dateCreated":"2022-12-16T15:00:27Z","datePublished":"2022-12-16T15:00:27Z","dateModified":"2023-03-08T07:26:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Double-Digit Losses Brings Doge Below Critical Level, More Pain To Follow?\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/dogecoin\\\/doge-below-critical-level\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/dogecoin\\\/doge-below-critical-level\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Dogecoin-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/Dogecoin-1.jpeg?fit=2000%2C1333\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge price\",\"dogecoin\",\"dogecoin performance\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2022-12-16T15:00:27Z\",\"datePublished\":\"2022-12-16T15:00:27Z\",\"dateModified\":\"2023-03-08T07:26:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2022\/12\/Dogecoin-1.jpeg?fit=2000%2C1333","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/512674"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=512674"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/512674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/512680"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=512674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=512674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=512674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}