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DOGE Technical Analysis

Jun 1, 2023
DOGE Technical Analysis

Key Insights

  • DOGE has fluctuated between $0.06640 and $0.09987 recently, seeing a 66% increase in early 2023 before consolidating.
  • Strong support lies at $0.05299, with potential for gradual upward trend after extended accumulation.
  • If DOGE breaks the price level of $0.15897, its next target will probably be $0.28930.

As of writing, Dogecoin holds the 8th position in CoinMarketCap's rankings, with a market cap of $10,906,062,089. Users can get DOGE for fiat or crypto on SimpleSwap.

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Since November, the price of Dogecoin has fluctuated between $0.06640 and $0.09987, with occasional small dips. 

Starting from the beginning of 2023, the coin has seen an increase from $0.06301 to $0.10476, a rise of over 66%, followed by a subsequent dip in value and transition to a consolidation phase. The coin has a strong support level at $0.05299.

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Following a prolonged accumulation phase, during which false dips from the price range may occur, with a subsequent return, a gradual upward trend towards a price level of $0.15897 can be expected. DOGE is a part of a broadly diversified portfolio and meme world portfolio.

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The next target after surpassing $0.15897 would be a level of $0.28930.

The information in this article is not a piece of financial advice or any other advice of any kind. The reader should be aware of the risks involved in trading cryptocurrencies and make their own informed decisions. SimpleSwap is not responsible for any losses incurred due to such risks. For details, please see our Terms of Service.

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