Dogecoin loses $0.13: Drops to 14th position in the market

Dogecoin price analysis for April 25, 2022, ends on a bearish note for DOGE as investors can expect the meme coin to retes $0.10.
Dogecoin price analysis for April 25, 2022, ends on a bearish note for DOGE as investors can expect the meme coin to retes $0.10.

Dogecoin price analysis for April 25, 2022, comes on a bearish note for the token with increased chances of dropping to the $0.10 price region in the near future. The meme coin might lose its position in the top 15 cryptocurrencies in the crypto space. Currently, the DOGE token has dropped to the 14th position in the crypto as it lost the $0.13 price region. As noted in our DOGE price analysis for April 22, 2022, the meme coin has very crucial support of $0.14. 

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 21.00% in the last 24 hours, followed by a 2.54% drop in the market cap. Moreover, the Market Dominance of the token is now once again back below 0.97%, while the Volume / Market Cap Ratio has a value of 0.04016.

The daily candle for Dogecoin opened at a price of $0.1362 and reached a daily high of $0.1373. Furthermore, the daily low for the token stands at a price of $0.1357, and the price of 1 DOGE at the time of writing is $0.1372.

Dogecoin price analysis on the daily chart for April 25

Dogecoin price analysis on the daily chart for April 25 will consider the data presented by the daily chart below, which includes a few of the most important indicators in the TA space.

Dogecoin price analysis
Source: TradingView

The MACD indicator shows that the MACD line is below the signal line, and the former continues to move away from the latter. 

The RSI indicator reads a value below 41, which confirms that the bears are in the driver’s seat for now, and investors can expect lower prices. 

The price action might break out of the bearish zone of the Bollinger Bands in the near future as the situation doesn’t seem promising for Dogecoin.

Conclusion

Dogecoin price analysis for April 25, 2022, ends on a bearish note for DOGE as investors can expect the meme coin to retes $0.10.

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