Dogecoin News

DOGE Faces Inability to Sustain the Bear Pressure

  • Dogecoin price has undergone a lot of variations as seen from the one-day price chart

Dogecoin (DOGE) price is still reeling under bear pressure and is mostly moving below the baseline. The price was moving at a steady upward pace till the bears dropped in. The one-day price chart for DOGE shows a lot of price fluctuations in the range of $0.0026–$0.0028, indicating that the crypto market will continue with its bearish trend for the short term.

Dogecoin Price Analysis:

DOGE price has been below the baseline for the most part of the day on Oct 20 as seen from the one-day price chart. The price was at a high of $0.0028 at 3:55 UTC, which later slipped to trade at $0.0026 at 8:38, the downward movement was to the tune of 5.02%. The price then showed recovery at the rate of 4.84% and moved to $0.0028 at 17:44. This movement was however short-lived as the price of DOGE again went down to $0.0026 at 23:16. The fall in price is to the extent of 4.76%. Today, the trading price of DOGE is at $0.0027, which is higher to the extent of 3.85%.

Dogecoin Price ChartDOGE price continues to be under bear grip as the coin has a lot of fluctuations. The price is mostly inclined towards the lower range in the current bearish market. Analysts expect the short-term bear run to continue in the crypto market. The year-end is expected to give some respite for the altcoins, including DOGE, as the bulls are expected to get back in full swing. Long-term investors should continue holding their investments as there is not much profit scope currently in the ongoing crypto market volatility.

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

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