{"id":629981,"date":"2024-07-16T15:00:04","date_gmt":"2024-07-16T15:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=629981"},"modified":"2024-07-16T11:32:42","modified_gmt":"2024-07-16T11:32:42","slug":"dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-set-for-heightened-downtrend-after-a-rejection-at-0-1293\/","title":{"rendered":"Dogecoin Set For Heightened Downtrend After A Rejection At $0.1293"},"content":{"rendered":"
Popular meme coin,<\/span> Dogecoin<\/span><\/a>, recently faced a rejection at a significant resistance level of $0.1293. This setback has led the crypto asset to start a fresh downward move towards its previous low of $0.0914. Since DOGE failed to break past the $0.1293 barrier, this has led to speculations among market participants about the next move of the digital asset.<\/span><\/p>\n In this article, we will examine the post-rejection price actions of DOGE with the help of technical indicators to determine what this rejection could mean for the crypto asset in the near future.<\/span><\/p>\n DOGE’s price is currently trading at around $0.121 and is up by 1.85% with a market capitalization of over $17 billion and a trading volume of over $1 billion as of the time of writing. In the last 24 hours, its market cap and trading volume have increased by 1.83% and 73.09% respectively.<\/span><\/p>\n Currently, the price of Dogecoin on the 4-hour chart is trading below the bearish trendline and has dropped a bearish momentum after the rejection at $0.129 above the 100-day Simple Moving Average (SMA). Based on these current price actions, the digital asset may be poised to maintain its bearish<\/span> sentiment<\/span><\/a> and could potentially extend its bearish move toward the $0.1144 support level.<\/span><\/p>\nRecent Market Performance: Analyzing DOGE\u2019s Price Action<\/strong><\/h2>\n