Dogecoin jumps 4% amid a sluggish market

Dogecoin price analysis for August 14, 2022, comes on a bullish note for the world’s biggest meme coin as it is clear that the DOGE token has jumpd by almost 4.5% in the last 24 hours and investors can expect the meme coin to jump higher in the coming days if the bulls remain in control of the price action of the token. It is also important to note that the nearest resistance for the token stands at the $0.07 price region which has been reclaimed and now, the bulls are trying to turn it into a support level.

As noted in our DOGE price analysis for August 13, 2022, the Dogecoin token continues to hold above the $0.07 price region but lost the 10th position in the market and is currently ranked at the 11th position.

The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 33.56% in the last 24 hours, followed by a 3.59% surge in the market cap. Moreover, the Market Dominance of the coin rose to 0.86%, while the Volume / Market Cap Ratio has a value of 0.05121.

The daily candle for Dogecoin opened at a price of $0.07292 and reached a daily high of $0.07760. Furthermore, the daily low for the coin stands at a price of $0.07262, and the price of 1 DOGE at the time of writing is $0.07753.

Dogecoin price analysis on the daily chart for August 14

Dogecoin price analysis on the daily chart for August 14, 2022, will consider the data presented by 3 major indicators on the daily chart below.

Source: TradingView

The RSI indicator reads a value below 69 which means that Dogecoin is almost reaching overbought levels.

The MACD line and signal line are almost overlapping as the histogram for the DOGE token remains green.

The price action for Dogecoin is situated in the bullish region of the Bollinger Bands and a breakout can be expected.

Conclusion

Dogecoin price analysis for August 14, 2022, ends on a bullish note for DOGE with increased chances of retaining $0.07.