The crypto market is spotted with heavy pullback pressure, and almost all the coins are marking loss today. The top guns like Bitcoin, Ethereum, Ripple, etc. have taken a plunge of almost 4% since the opening hours of the day.
Dogecoin is also dealing under the same pressure. Yesterday, the currency was seen trading at $0.002283 and now the price has dropped to $0.00205. The tremendous downside movement is likely to stay for a while.
Yesterday, Dogecoin started dealing at $0.00220894, and then, the price jumped to $0.00228341 by 3.28% hike. Later, the currency dropped to $0.00214917 by 5.88% in the next 2 hours. After that, the currency locked itself around the same level but later fell to $0.002145 from $0.002258 by 5%. Dogecoin price improved immediately after the same and touched $0.002271 by 5.8%. Later, there was another fall that brought DOGE price to $0.002073 by 7.90%. The currency recovered and jumped to $0.002191 again. Then, the day closed at $0.002084 by the intraday regressive movement of 5.56%. Today, Dogecoin began the day with a slight fall with the price being around $0.00206. The price escalated thereafter and touched $0.002162 by 4.92%. DOGE price slipped in the later hour and touched $0.002059.
The coin has already violated its crucial support level at $0.00214. As per the current trend noticed, Trade99’s analysts predict that, in some hours, it would cross the major support level at $0.00201.
Dogecoin is not quite impressive as of now, but it is speculated to improve in the later years. The traders are recommended to opt for long-term investment as might bring the desired result.