Dogecoin price analysis for June 23, 2022, comes on a sluggish note for the meme coin as we have witnessed a price surge of only 1.4% in the last 24 hours. Furthermore, it can be expected that the DOGE meme token will give its all to hold the $0.06 price region which has been found to be an area of minor support. Currently, the meme coin is holding its position as the 10th biggest cryptocurrency in the market. As noted in our DOGE price analysis for June 22, 2022, there are chances of DOGE making higher highs if $0.06 is retained.
The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 43.51% in the last 24 hours, followed by a 1.13% surge in the market cap. Moreover, the Market Dominance of the coin rests at 0.93%, while the Volume / Market Cap Ratio has a value of 0.06171.
The daily candle for Dogecoin opened at a price of $0.06172 and reached a daily high of $0.06476. Furthermore, the daily low for the coin stands at a price of $0.06155, and the price of 1 DOGE at the time of writing is $0.06389.
Dogecoin price analysis on the daily chart for June 23
Dogecoin price analysis on the daily chart for June 23, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 44 indicating that the bulls haven’t given up and continue with their efforts to dominate the price action.
The MACD indicator shows that the MACD line remains above the signal line while the MACD histogram remains bullish for the meme coin.
The price action for Dogecoin failed the retest of the middle zone of the Bollinger Bands and is back in the bearish zone of the Bands.
Conclusion
Dogecoin price analysis for June 23, 2022, ends on a sluggish note for the meme coin with increased chances of retaining $0.06 as support.
