Doge Price Prediction: Today’s Dogecoin Price, 29th Jan 2023

Doge price prediction – Here’s the latest Doge price  prediction and Doge TO USD converted price you can find here

Doge Today’s price

Doge price today is $0.0899028 USD

Doge Price Prediction:

With a peak of approximately $0.0940, the price of Dogecoin appears to have momentarily slowed from its recent upward trend. It is currently trading at $0.0840, down 4.8%.

This price decline is not unique to DOGE; it has also affected other cryptocurrencies like Shiba Inu, Cardano, Shiba, and Ethereum.

The total market value of all cryptocurrencies decreased by about 3.5%, holding just above $1 trillion. Since bulls began to aggressively push for higher prices in early January, this is the first significant correction.

The meme coin hype was revived by the upward movements in Dogecoin and Shiba Inu, which helped the cryptocurrency market reclaim the $1 trillion capitalization threshold a few weeks ago.

The three-week rally in the price of Dogecoin has paused, but price analysis suggests that the uptrend will soon resume. On the daily time chart, a green candle is forming and is confluent with the red 50-day EMA, the 100-day EMA, and support at $0.0802. (in blue).

The 200-day EMA (in purple) and the bottom of the falling trend channel serve as immediate resistance, which bulls must overcome by keeping their feet on the ground.

Bulls pushing for gains above $0.10 will only have to worry about the upper boundary of the channel if they successfully break and hold above this seller congestion zone.

The likelihood that the Moving Average Convergence Divergence (MACD) indicator will change from a buy to a sell is increasing even though it is still maintaining the buy signal from the beginning of the year.

Because losses could become more severe if the MACD (line in blue) crosses below the mean line, traders must keep an eye on its movement in the sessions to come.

Additionally, approaching the mean line and perhaps the negative region would spark a sell-off that would probably drive the price of Dogecoin to $0.0722 and $0.0602, respectively.

The price outlook for Dogecoin in shorter time frames is relatively dim, which is made worse by a negative volume flow that the Money Flow Index (MFI) indicator has detected.

The MFI measures momentum by taking into account the inflow and outflow of funds in DOGE markets, much like the Relative Strength Index (RSI).

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