Dogecoin holds strong at $0.14 as trading volume doubles

Dogecoin price analysis for April 11, 2022, comes on a bearish note for the token as chances of losing the $0.14 seem low. The meme coin has been holding strong at this price region while the entire market has seen a drop in double digits for prices. Furthermore, the DOGE price analysis for April 8, 2022, confirmed that the token had reclaimed the $0.15 price region but it can be confirmed that the token failed to hold above it. 

The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 110.02% in the last 24 hours, followed by a 1.69% drop in the market cap. Moreover, the Market Dominance of the token has surged to 1%, while the Volume / Market Cap Ratio has a value of 0.09278.

The daily candle for Dogecoin opened at a price of $0.1482 and reached a daily high of $0.1515. Furthermore, the daily low for the token stands at a price of $0.1447, and the price of 1 DOGE at the time of writing is $0.1472.

Dogecoin price analysis on the daily chart for April 11

Dogecoin price analysis on the daily chart for April 11 will take into consideration the data from the chart below which has 3 major indicators embedded in it.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are quite close to each other and bearish divergence can be confirmed for now. 

The price action for Dogecoin currently rests in the upper end of the Bollinger Bands which means that the token’s retest of the middle region of the Bands might be successful. 

The RSI indicator shows a value above 54 which means that the chances of losing the $0.14 price region are low for now as this seems to be strong support. 

Conclusion

Dogecoin price analysis for April 11, 2022, confirms that the meme coin has found strong support at $0.14 and prices might hold here.