Dogecoin (DOGE): Does it Score Well on Long-Term Trading Metrics Thursday?

Thursday, August 04, 2022 12:01 PM | InvestorsObserver Analysts

Dogecoin receives an average long-term technical score of 49 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. DOGE currently holds a superior long-term technical analysis score than 49% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Dogecoin a 49 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Dogecoin!

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Trading Analysis

The current trading price of $0.070000000 for DOGE is -$0.0100000 (-17.75%) below the coins 100-day moving average of $0.080000000. DOGE meanwhile is $0.0200000 (-21989.46%) above its 52-week low of $0.050000000 and -$0.28000000 (-2830.32%) under its 52-week high price of $0.350000000. Dogecoin's current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 49. The price movement and range of DOGE suggest that investors are bearish on the coin at this time. Dogecoin currently has a total market cap of $8,874,552,289.26 to go along with its average daily volume of $1,767,352,641.96 worth of the currency over the past seven days. DOGE's volume is below its seven day average as of the past 24 hours, with 255,519,548.09 exchanged in that period. This coin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Technical analysis of Dogecoin over the past year results in the crypto receiving a an average long-term technical score of 49 as its price movement in that time has given traders reason to be bearish on the coin in the long-term. Click Here to get the full Report on Dogecoin (DOGE).