{"id":542126,"date":"2023-07-11T10:00:35","date_gmt":"2023-07-11T10:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=542126"},"modified":"2023-07-11T09:03:27","modified_gmt":"2023-07-11T09:03:27","slug":"dogecoin-price-downtrend-set-to-persist","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-price-downtrend-set-to-persist\/","title":{"rendered":"Dogecoin (DOGE) Price Downtrend Set To Persist – What To Expect"},"content":{"rendered":"

Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. However, despite this notable increase, it failed to ward off the sellers who swiftly entered the market.\u00a0<\/span><\/p>\n

Can Dogecoin regain its momentum and rise again, or will it succumb to the mounting pressure from the bearish sentiment?<\/span><\/p>\n

Bitcoin (BTC) also experienced a downturn in the previous week, and this negative trend had a noticeable impact on the sentiment surrounding Dogecoin. <\/span><\/p>\n

Unfortunately, the figures did not provide a strong basis for a potential recovery in DOGE. Instead, it indicated a looming decline towards the price range of $0.053 and $0.048.<\/span><\/p>\n

DOGE Bearish Indicators Emerge<\/strong><\/h2>\n

The current <\/span>DOGE price on CoinGecko<\/span><\/a> stands at $0.0652, experiencing a modest 0.7% rally within the past 24 hours. However, it is important to note that a decline of 5.8% has been recorded over the course of the past seven days.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
This price movement has prompted a closer examination of the market conditions, revealing some bearish signals and underlying trends.<\/span><\/p>\n
Related Reading: Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature<\/a><\/div>\n
Based on a <\/span>DOGE price report<\/span><\/a>, it appears that bears are preparing to exert downward pressure on prices once again. The Relative Strength Index (RSI) has slipped below the neutral 50 level, indicating a shift in momentum towards the bearish side, suggesting that selling pressure may increase in the near future.<\/span><\/p>\n
<\/p>\n
DOGE market cap back at $9 billion. Chart: TradingView.com<\/a><\/pre>\n
Additionally, the On-Balance Volume (OBV) has been unable to surpass a resistance level since May, reflecting a lack of interest from buyers. This suggests that market participants may be hesitant to make significant purchases, contributing to the downward pressure on DOGE prices.<\/span><\/p>\n
Related Reading: PEPE Potential Rebound: Key Details You Shouldn\u2019t Miss<\/a><\/div>\n
Although some buyers noticed the recent short-term rally and made purchases as prices slowly edged higher, it is worth noting that this rally pales in comparison to the significant surge the meme coin experienced in early April, when Dogecoin reached the $0.1 level.<\/span><\/p>\n
\"\"<\/p>\n
DOGE seven-day price action. Source: Coingecko.<\/a><\/pre>\n
This discrepancy, referring to the difference between the current rally and previous ones, implies that the present market upswing may be lacking an equivalent degree of enthusiasm and support from buyers. This observation raises questions about the sustainability and strength of the crypto.<\/p>\n
Outlook For DOGE<\/strong><\/h2>\n
The bearish signals observed, such as the RSI dropping below the neutral 50 level and the lack of conviction from buyers indicated by the OBV, suggest a challenging road ahead for DOGE. These factors may contribute to increased selling pressure and further price declines.<\/span><\/p>\n
Considering the current market conditions, it is important to approach the outlook for DOGE with caution. The short-term rally, although relatively subdued compared to past performances, could still offer opportunities for traders looking for quick gains. However, it is vital to remain vigilant and closely monitor the market dynamics.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from iStock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. However, despite this notable increase, it failed to ward off the sellers who swiftly entered the market.\u00a0 Can Dogecoin regain its momentum and rise again, or will it succumb to the mounting pressure from the bearish sentiment? Bitcoin (BTC) also experienced a downturn in the previous week, and this negative trend had a noticeable impact on the sentiment surrounding Dogecoin. Unfortunately, the figures did not provide a strong basis for a potential recovery in DOGE. Instead, it indicated a looming decline towards the price range of $0.053 and $0.048. DOGE Bearish Indicators Emerge The current DOGE price on CoinGecko stands at $0.0652, experiencing a modest 0.7% rally within the past 24 hours. However, it is important to note that a decline of 5.8% has been recorded over the course of the past seven days. Source: Coingecko This price movement has prompted a closer examination of the market conditions, revealing some bearish signals and underlying trends. Related Reading: Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature Based on a DOGE price report, it appears that bears are preparing to exert downward pressure on prices once again. The Relative Strength Index (RSI) has slipped below the neutral 50 level, indicating a shift in momentum towards the bearish side, suggesting that selling pressure may increase in the near future. DOGE market cap back at $9 billion. Chart: TradingView.com Additionally, the On-Balance Volume (OBV) has been unable to surpass a resistance level since May, reflecting a lack of interest from buyers. This suggests that market participants may be hesitant to make significant purchases, contributing to the downward pressure on DOGE prices. Related Reading: PEPE Potential Rebound: Key Details You Shouldn\u2019t Miss Although some buyers noticed the recent short-term rally and made purchases as prices slowly edged higher, it is worth noting that this rally pales in comparison to the significant surge the meme coin experienced in early April, when Dogecoin reached the $0.1 level. DOGE seven-day price action. Source: Coingecko. This discrepancy, referring to the difference between the current rally and previous ones, implies that the present market upswing may be lacking an equivalent degree of enthusiasm and support from buyers. This observation raises questions about the sustainability and strength of the crypto. Outlook For DOGE The bearish signals observed, such as the RSI dropping below the neutral 50 level and the lack of conviction from buyers indicated by the OBV, suggest a challenging road ahead for DOGE. These factors may contribute to increased selling pressure and further price declines. Considering the current market conditions, it is important to approach the outlook for DOGE with caution. The short-term rally, although relatively subdued compared to past performances, could still offer opportunities for traders looking for quick gains. However, it is vital to remain vigilant and closely monitor the market dynamics. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":542136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,85675,7,8686,83767,4735],"class_list":["post-542126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-doge-price","tag-dogecoin","tag-ethusd","tag-meme-coins","tag-price-action"],"acf":[],"yoast_head":"\nDogecoin Price Downtrend Set To Persist - What To Expect<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin (DOGE) Price Downtrend Set To Persist – What To Expect","url":"http:\/\/wncen.com\/news\/dogecoin-price-downtrend-set-to-persist\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin-price-downtrend-set-to-persist\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-64.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-64.png?fit=611%2C355"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","doge price","dogecoin","ethusd","meme coins","price action"],"dateCreated":"2023-07-11T10:00:35Z","datePublished":"2023-07-11T10:00:35Z","dateModified":"2023-07-11T10:00:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin (DOGE) Price Downtrend Set To Persist – What To Expect\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-price-downtrend-set-to-persist\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-price-downtrend-set-to-persist\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-64.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-64.png?fit=611%2C355\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"doge price\",\"dogecoin\",\"ethusd\",\"meme coins\",\"price action\"],\"dateCreated\":\"2023-07-11T10:00:35Z\",\"datePublished\":\"2023-07-11T10:00:35Z\",\"dateModified\":\"2023-07-11T10:00:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-64.png?fit=611%2C355","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542126"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=542126"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/542136"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=542126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=542126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=542126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}