Dogecoin price has been dropped by 4.56% over the last 24 hours. It is currently being traded at $0.002005, and investors may witness huge volatility in the upcoming days.
If we look at the price movement of DOGE/USD over the past few weeks, the currency was trading with upside momentum, but along with that, it also faced heavy price fluctuations. And over the past week, Dogecoin managed to trade around $0.0020. In the next few days, it may cross $0.0021 mark despite the volatility.
DOGE/USD Price Chart
Dogecoin’s last week has been on a moderate rising path. It started at $0.0019, and by April 16, the price has been pulled down to $0.0018. However, from there, it has been on a recovery spree. The currency has been trending above $0.0020 since April 18.
The price of Dogecoin was at $0.002101 at the starting of the day, and in the next 6 hours, it was down by 5.19% and touched $0.001992. Then, it recovered by 4.65% which pushed the DOGE price to $0.002085 by 10:05 UTC. However, the coin couldn’t remain at that height for long and fell by 4.98% and reached the lowest point of the day at $0.001980 by 14:05 UTC.
From this low, Dogecoin started trading upwards and between 14:05 & 23:00 UTC, it got a hike of 5.25% and the price reached $0.002084. From this price point, the currency again faced rejection and started trading downwards. At the time of writing this analysis, it spotted at $0.002005 without having support from its short-term moving averages.
The RSI of DOGE/USD stands below 40 points, and it tilted towards the oversold region. Dogecoin may not see any quick recovery of this situation anytime soon. However, Trade99’s analysts think that the coin may reflect a strong recovery in the upcoming days, as per the overall trend noticed.