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 Negative market sentiment spread rapidly, leading to Dogecoin price continues to fluctuate around $0.2 . This puts this "meme coin" in a precarious position, and its decline may further intensify. The impetus for higher prices may be able to reverse the decline, but trading volumes have fallen significantly, so that road remains elusive. The other major concern is resistance near $0.21, where any rally may stall. What happens if Dogecoin price falls below $0.218?Cryptocurrency Analyst Diana Sanchez emphasized Dogecoin’s upside potential points to its recent strong price performance. This is consistent with what happened after the Federal Reserve’s FOMC meeting market fluctuations related. However, Dogecoin currently remains at an important resistance level. Analysts first pointed out that despite the current difficulties, The price of Dogecoin has increased More than 43%. This makes it among the top cryptocurrencies by market capitalization Best performing encryption One of the currencies, and its upward momentum may once again turn into a bull market. However, the main concern right now lies at $0.218, where bears are building defenses. Currently, the support level of $0.2 remains valid, which has become the focus of bulls, who hope to extend the rally. The crypto analyst explained that the key now is to break the $0.218 resistance level. If this resistance level is broken, the price of Dogecoin is expected to continue rising. Analysts say that as a result, dogs Coin price rises to $0.5 target It is no longer an unattainable dream.  Low trading volumes could hinder recoveryAlthough the Dogecoin price chart shows an upward trend, its daily trading volume continues to decline, This undoubtedly casts a shadow over the market . In early October, Dogecoin’s daily trading volume soared to more than $20 billion before falling back. However, daily trading volumes have continued to decline since then, and as of this writing, Coinglass website data show Average daily trading volume has reached US$5 billion. Therefore, unless volume increases significantly, any breakout is likely to lack momentum, meaning price may Retrace quickly and fall back。  Join us and take one step ahead: output high-quality targets and first-class golden dog band opportunities. Contract/spot operations, solid theory and rich practical experience. He is good at combining technology and news, focusing on fund management, entry timing, position allocation and risk control, with a steady and decisive style. (If you can’t add it to WeChat below, you can contact the author on the homepage) Welcome to private message me VX to join us→→peipei3786  |
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