CandleFocus

Dogecoin (DOGE) Price Declines 10% in 24 Hours, Loses $60 Billion Market Cap

The price of Dogecoin (DOGE) has dropped by nearly 10% in the last 24 hours, falling below the $60 billion market cap threshold. The Ichimoku Cloud chart indicates that DOGE has entered a bearish phase as its price has dropped below the cloud after trading above it for a period of time. The ADX for DOGE has also risen, suggesting that the downtrend is gaining strength and there may be further downward pressure on the price in the short term. The EMA lines indicate that DOGE is in a downtrend, and if this trend continues, the price could test support at $0.34 and potentially drop further to $0.219 or even $0.14. However, if the price manages to reverse the downtrend, it may face resistance at $0.42 and could continue to rise to test the $0.46 and $0.48 levels.

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