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Dogecoin in the Market 9/26/21

By gmoney777 | Dog Money Daily | 26 Sep 2021

Dogecoin Current Price (9/26/2021 at 4PM ET): $0.2075 (-0.85% 24 Hours)

Remember, while dogecoin may go up and down, 1 doge will always equal 1 doge but the love, community, goodness, and wow will always increase.

Dogecoin has been trading mostly sideways the past 24 hours except for a quick 2-hour dip from around 3:30 am - 5:30 am. Over the last 24 hours, the range has been between a low of $0.1943 to a high of $0.2123 for a range of $0.018 or 9.2%. This range is more than double the range dogecoin traded between in the previous 24 hours. Volume has picked up some, with $1.141B in 24-hour trading volume compared to $1.092B in the preceding 24 hours, a 4.5% volume increase. 


Analysis: Dogecoin has been flat overall in the last 24 hours, with a 9% dip that was quickly recovered in just 2 hours. Increasing volume and range indicates that dogecoin activity is growing, and a breakout in either direction is becoming more likely. $0.20 support remains strong, as even a fast dump dip during off-hours was quickly swallowed up. Dogecoin is still happy, and the MACD magnitude has flattened considerably, indicating that dogecoin is consolidating with its longer-term averages.


Prediction: Dogecoin continues to consolidate between $0.19-$0.21. The floor remains strong, but neither the bears nor the bulls seem to have the upper hand in this tug of war. I think that the $0.25 level is a very strong psychological near-term target, and dogecoin will slowly move towards it. Dogecoin remains a strong value buy, but additional buying pressure is likely needed to make a large move. Expect dogecoin to retain a single-digit range over the next 24-hours in this consolidation station.


Chart and Data Sources:

Price Data - Kraken

Simple Chart:

Detailed Chart:


Volume Data - CoinMarketCap

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