Today’s Dogecoin Price, 20th Nov 2022

Dogecoin’s value increased in 2021 as the cryptocurrency markets recovered, gaining popularity on social media and spurring the creation of additional coins with Shiba Inu dog themes.

In order to provide a framework for governance and support for the development of the project’s community, the Dogecoin Foundation was established in 2014. Elon Musk unusually favours DOGE over other cryptocurrencies.

Furthermore, even in the context of cryptocurrency markets, the price of Dogecoin fluctuates wildly because social media communities are to blame for notable price peaks and subsequent crashes that garner mainstream media attention.

Doge Price Prediction:

The price of Dogecoin has been fluctuating in a small horizontal band recently.
The 50, 100, and 200 DMAs are much below the price, while the 20 DMA is still over it.
According to overnight figures, the trading volume continued to decline and was reported at $423 million.

After an extraordinary rise, the Memecoin-Dogecoin price moved in a narrow sideways range. Daily price candles are constantly formed inside of preceding candles by the asset price, and this accumulation phase denotes a bullish momentum signal going either up or down.

The price action indicates that the purchasers are entrapped in a small horizontal range. Therefore, the $0.080 level serves as a support, and the hypothetical round of $0.10 has developed into a crucial bear-rescue area. The weekly price candles therefore display long-legged doji-candles this week. Only two weeks of nonstop selling led to this accumulation period.

At the time of publication, the Dogecoin price is trading at $0.0853 against the USDT pair. However, buyers hold prices up by 1% during intraday trading sessions. Additionally, the DOGE price in relation to the bitcoin pair is down a small 0.51% at 0.000005102 satoshis. According to CMC’s 24 hour data, the market cap has reached $11.35 billion during a period of market consolidation.

Since November 8th, there has been a decrease in trading volume. This might be the cause of the market’s low volatility. Similar to that, according to overnight data, trading volume was $423 million.

According to conventional indicators, the price of dogecoin is not showing a bullish trend because the RSI is flat and the ADX is still declining. It only occurs as a result of the conceptual round level and the limited range-bound market.

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