Dogecoin aims to break $0.09: What to expect?
Dogecoin price analysis for May 30, 2022, comes on a bearish note for the token with increased chances of breaking the $0.09 price region in the next few days if the bulls continue to dominate the price action. Furthermore, we can also expect DOGE to break the $0.1 price region if the bulls successfully break $0.09. Additionally, as noted in our DOGE price analysis for May 29, 2022, the meme coin has major support at the $0.08 price region and it currently holds. Another crucial fact is that DOGE is more than 88% low than its all-time high.
The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 4.89% in the last 24 hours, followed by a 6.30% surge in the market cap. Moreover, the Market Dominance of the coin dropped to 0.90%, while the Volume / Market Cap Ratio has a value of 0.0408.
The daily candle for Dogecoin opened at a price of $0.0827 and reached a daily high of $0.0865. Furthermore, the daily low for the coin stands at a price of $0.0821, and the price of 1 DOGE at the time of writing is $0.0865.
Dogecoin price analysis on the daily chart for May 30
Dogecoin price analysis on the daily chart for May 30, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 42 which means that the bulls have successfully defeated the bulls and the gradient of the line suggests that higher prices will follow.
The MACD indicator shows that the MACD line is moving away from the signal line and remains above it. The MACD histogram is also bullish.
The price action for Dogecoin has broken above the middle zone of the Bollinger Bands and it seems that the meme coin aims to break into an uptrend soon.
Conclusion
Dogecoin price analysis for May 30, 2022, ends on a bullish note for the meme coin with considerable chances of breaking $0.09.
