Dogecoin might lose $0.05 as sellers remain in control
Dogecoin price analysis for June 13, 2022, comes on a bearish note for the meme coin as there are high chances of losing the $0.06 price region in the near future. Additionally, it is also important to note that DOGE has lost major price levels this month and it seems that the biggest meme coin in the crypto market might have to fight for its 10th position in the crypto market. As noted in our DOGE price analysis for June 12, 2022, after losing the $0.08 price region, important support, DOGE continued to fall and lost the $0.07 price region as well.
The data from CoinMarketCap shows that the trading volume for Dogecoin has surged by 99.01% in the last 24 hours, followed by a 20.47% drop in the market cap. Moreover, the Market Dominance of the coin dropped to 0.75%, while the Volume / Market Cap Ratio has a value of 0.1866.
The daily candle for Dogecoin opened at a price of $0.06352 and reached a daily high of $0.06627. Furthermore, the daily low for the coin stands at a price of $0.05234, and the price of 1 DOGE at the time of writing is $0.05397.
Dogecoin price analysis on the daily chart for June 13
Dogecoin price analysis on the daily chart for June 13, 2022, will consider the data presented by 3 major indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value below 21 which confirms that the DOGE token is now oversold and investors can expect lower prices in the near future.
The MACD indicator shows that the MACD line has broken below the signal line which means that a bearish divergence has been seen.
The price action for Dogecoin broke out from the lower end of the Bollinger Bands indicating a surge in bearish strength.
Conclusion
Dogecoin price analysis for June 13, 2022, ends on a bearish note for the meme coin with considerable chances of retesting $0.050.
