Dogecoin on the verge of losing $0.05: What to expect?
Dogecoin price analysis for June 15, 2022, comes on a bearish note for the meme coin with high chances of losing the $0.05 price level in the near future if the sellers continue to remain in control of the price action. As noted in our DOGE price analysis for June 14, 2022, the DOGE token tried to hold the 10th position in the market but failed to do so. At the time of writing, DOGE is ranked as the 12th biggest cryptocurrency in the market and it seems that the season of meme coin is long gone.
The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 43.47% in the last 24 hours, followed by an 8.66% surge in the market cap. Moreover, the Market Dominance of the coin dropped to 0.78%, while the Volume / Market Cap Ratio has a value of 0.1058.
The daily candle for Dogecoin opened at a price of $0.05556 and reached a daily high of $0.05643. Furthermore, the daily low for the coin stands at a price of $0.05041, and the price of 1 DOGE at the time of writing is $0.05103.
Dogecoin price analysis on the daily chart for June 15
Dogecoin price analysis on the daily chart for June 15, 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 currently being oversold in the market and we can expect lower prices as well.
The MACD indicator shows that the MACD line remains below the signal line and the histogram continues to remain bearish.
The price action for Dogecoin broke out from the lower end of the Bollinger Bands and the downtrend for the token continue in the short term.
Conclusion
Dogecoin price analysis for June 15, 2022, ends on a bearish note for the meme coin with low chances of retaining $0.050.
