Dogecoin continues attempts to breach $0.07: What to expect?

Cryptocurrency Price analysis and Prediction

August 11, 2022

Cryptocurrency Price analysis and Prediction

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Dogecoin price analysis for August 11, 2022, comes on a bullish note for the world’s biggest meme coin as we can confirm that the prices have surged by 4.52% in the last 24 hours as DOGE was able to jump from the $0.068 price level to back above the $0.070 price level. However, it is also important to note that the DOGE token has major resistance zones above the $0.07 and investors cannot expect the beginning of an uptrend until the $0.070 price level is not turned into support and the nearest resistance at $0.10 price level is not reclaimed.

As noted in our DOGE price analysis for August 11, 2022, the nearest support for the Dogecoin token stands at the $0.060 price level which has been holding for a very long time and investors can expect it to hold in the near future as well.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 4.13% in the last 24 hours, followed by a 4.60% surge in the market cap. Moreover, the Market Dominance of the coin dropped to 0.82%, while the Volume / Market Cap Ratio has a value of 0.04895.

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The daily candle for Dogecoin opened at a price of $0.07126 and reached a daily high of $0.07248. Furthermore, the daily low for the coin stands at a price of $0.07091, and the price of 1 DOGE at the time of writing is $0.07138.