Dogecoin nears $0.075 but is pushed out of the top 10

Dogecoin price analysis
Source: TradingView

Dogecoin price analysis for August 13, 2022, comes on a bullish note for the world’s biggesst meme coin as it is clear that the token has finally broken above the $0.072 price region and the nearest important price level stands at the $0.075. However, it is also important to note that the DOGE token has been holding strong above the $0.070 and the nearest support for the meme coin is $0.060. This support level has been holding strong for a very long time.

As noted in our DOGE price analysis for August 12, 2022, the world’s biggest meme coin has lost its position in the top 10 cryptocurrencies in the market. Now, the Dogecoin token is ranked the 11th biggest cryptocurrency in the market.

The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 12.44% in the last 24 hours, followed by a 4.12% surge in the market cap. Moreover, the Market Dominance of the coin rests at 0.83%, while the Volume / Market Cap Ratio has a value of 0.04576.

The daily candle for Dogecoin opened at a price of $0.07232 and reached a daily high of $0.07517. Furthermore, the daily low for the coin stands at a price of $0.07180, and the price of 1 DOGE at the time of writing is $0.07356.

Dogecoin price analysis on the daily chart for August 13

Dogecoin price analysis on the daily chart for August 13, 2022, will consider the data presented by 3 major indicators on the daily chart below.

Dogecoin price analysis
Source: TradingView

The RSI indicator reads a value below 63 which means that Dogecoin bulls are overall in control of DOGE price action and might soon be oversold.

The MACD line and signal line are almost overlapping but as the bullish intensity of the histogram continues to increase.

The price action for Dogecoin is situated in the bullish region of the Bollinger Bands and a bullish breakout is certainly possible.

Conclusion

Dogecoin price analysis for August 13, 2022, ends on a bullish note for DOGE with increased chances of retesting $0.070.

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