Dogecoin Price Drops 4.3% to $0.189 Amid Market Caution
Summary of Dogecoin (DOGE) Price Movement
- DOGE fell 4.3% in 24 hours, from $0.196 to $0.189.
- Key support at $0.194 was breached during heavy selling.
- A temporary bottom was established at $0.187.
- Profit-taking in major cryptocurrencies and a shift towards stablecoins or bitcoin are observed.
- Significant DOGE transfers to exchanges raise speculation about sell-offs.
- Geopolitical tensions and inflation concerns affect investor sentiment across risk assets.
Price Action Details
- DOGE's current price consolidation is between $0.188 and $0.190.
- Technical indicators suggest potential seller exhaustion after the flush at $0.187.
- A descending triangle pattern is forming, which may influence the next price movement.
- Attempts to recover above $0.19 have been weak amid broader market caution.
Technical Analysis Recap
- DOGE experienced a price range of $0.010 (5.1%).
- A high volume of 223M indicated potential seller exhaustion at $0.187.
- A small rally occurred from 02:00-02:01 with a 0.18% increase.
- Higher lows after 01:50 show short-term bullish sentiment, but bearish momentum remains dominant.