Dogecoin (DOGE) was created as a joke inspired by a doge internet meme. It is a derivative of Luckycoin, which uses the Script algorithm. The Doge blockchain is faster than other blockchains because it has a 1-minute node interval. The coin supply is not capped, and hence its price can inflate infinitely. Past Performance As of March 2, 2021, DOGE began trading at $0.05. As of March 8, 2021, DOGE closed at $0.063. Thus, the DOGE price has surged by 26% in the past week. In the last 24 hours, the DOGE price is fluctuating within the price range of $0.054 – $0.063. https://ift.tt/2OyGT3d Technicals for the Day-Ahead and Tomorrow Today, DOGE started trading at $0.063. Currently, DOGE is trading at $0.059. The price is downtick. In short, the market looks bearish. The A/D indicator is declining for the past 4 hours. Thus, distributions are higher than accumulations. High selling activity will exert downward pressure on the DOGE price. The MACD and signal lines are negative. Thus, the market momentum is bearish. But, a bullish crossover by the MACD line over the signal line indicates that a price pullback may be temporary. The RSI indicator is currently at 40%. The RSI is facing rejection at 50% implying that there is heavy offloading in the DOGE market. Hence, we can expect a price dip. DOGE Price Analysis Currently, the price is below the Fibonacci pivot point of $0.06. It is soon likely to fall below the first Fibonacci pivot support level of $0.057 as the bears are presently strong. If the price downtrend continues, the price is likely to fall below the subsequent support levels of $0.054 and $0.051 respectively, by the end of the day. The price has tested and fallen below the 38.2% FIB retracement level of $0.059. By the end of the day, the price is likely to fall below the 76.4% FIB retracement level of $0.056. A price downtrend is setting in and is likely to continue tomorrow as well.
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