Dogecoin is the first meme coin to ever being released. It is based on the dogechain network. As a meme coin on the dogechain platform, it is mostly used as a tipping coin in most publishsing platforms. Just like bitcoin,it is released to the dogechain network through the mining process using computing power. The miners are the one who share their computing power to the dogecoin mining pool where it is being used to secure the dogechain network from being hacked as well as to ensure that only legit dogecoin are getting into the dogechain platform. In return,the miners are rewarded with the new dogecoin being released into the dogechain network. The dogecoin used to pay for gas fee whenever dogecoin owners are transfering their dogecoin from one dogecoin address to another is also being rewarded to miners. The rewarding is based on the computing power shared on the mining pool such that the more your computing power the more reward one should expect to receive.

On Monday the 21st of August 2023,one dogecoin started trading at around $0.06036. By Tuesday the same week, the price had managed to go as high as $0.06326. On the same day, the price dropped to its lowest low point of $0.06033 . On Wednesday the same week, the price rises to its highest high point of $0.06586 but later dropped to $0.06276 on the same day. The price slightly rises to around $0.06463 on the same day. On Thursday the same week, the price dropped to $0.06186 but later slightly rises to around $0.06326 on the same day. On the same day,the price dropped to around $0.06164. By Friday the same week, the price had risen to around $0.06285. This is shown as from the candlesticks chart below;

 The above candlesticks chart is showing the weekly price change for dogecoin. As you can see, it started trading at around $0.06036 on Monday. By Tuesday the same week, the price had increased all the way to around $0.06326, a price increase of $0.0029. This price increase is due to sellers exceeding buyers thus the dogecoin market moving upwards with few buyers in order to profit with them. At $0.06326, the number of buyers have increased in number thus causing the market to experience an overbought condition over there which causes a reversal to downward movement all the way to $0.06033. Over there, the traders who were holding their bought dogecoin are beginning to sell in the fear that the market will continue moving downwards. Because of this, the sellers exceed the buyers over there causing the market to again experience an oversold condition over there and gains support where it moves upward all the way to its highest point of $0.06586, a price increase of $0.00553. This is on Wednesday. The price later sharply declines to $0.06276 on the same day followed by a slightly increase to $0.06463 on the same day. This is due to sellers exceeding buyers at $0.06276.

As of on Thursday the same week, the price can be seen to drop to as low as $0.06186, a price decrease of $0.00277. This price decrease is due to buyers being more than sellers at $0.06463 in the hope that the market will continue moving upwards. The market slightly rises to $0.06326 for a short tim but later reversed and drops to $0.06164. At $0.06164, there is possibility of many sellers selling their previously bought dogecoin in the fear that it will continue moving downwards. As you can see because of this,the price is beggining an uptrend which can continue of the sellers will continue selling their previously bought dogecoin. Also, if the buyers will exceeding sellers,we should expect to see this downtrend continuing