Is Dogecoin (DOGE) Trending Lower or Higher Wednesday?

Wednesday, September 28, 2022 06:48 PM | InvestorsObserver Analysts

Dogecoin receives a weak long-term technical score of 20 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 20% 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 20 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

Dogecoin's price is -$0.0100000 (-8.41%) below its 100-day moving average price of $0.070000000 as its price at the moment sits at $0.060000000. Additionally, DOGE is $0.0100000 (-22002.25%) higher than its 52-week low price of $0.050000000 while -$0.28000000 (-2933.36%) under its 52-week high of $0.340000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives DOGE an average long-term technical score of 20. Long-term trading movement of Dogecoin suggest that investors are bearish on the coin at the moment. Dogecoin has a total market value of $8,030,933,873.43 with an high average daily volume of $2,227,501,859.32 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, DOGE's volume is below its average with $276,291,818.64 exchanged in total. 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

Trading patterns over the last year for Dogecoin leads to the coin's a weak long-term technical score of 20 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the coin. Click Here to get the full Report on Dogecoin (DOGE).