- Dogecoin is the 10th largest cryptocurrency in the world.
- The DOGE crypto has witnessed higher long liquidation in the last 24 hours.
Dogecoin born from a meme in 2013, gained attention for its philanthropic endeavors and surged in 2021 after social media campaigns. Created by Jackson Palmer and Billy Markus, DOGE initially mocked cryptocurrency hype but evolved into a widely circulated asset, buoyed by community acceptance and celebrity endorsements.
The trading price of the Dogecoin is medium resulting in 2.42% and the market cap dominance of the crypto is 0.65%. Also, the market cap of the coin is $11.591 Billion and the market cap ranking of the crypto is #10 as per CoinMarketCap.
The trading volume of the coin does not show any significant change and the value of the traded volume of the crypto is $293.867 Million. The volume/market cap ratio of the crypto is 2.52% and the max supply of the crypto is infinite.
Also, the circulating supply of the crypto is 143.013 Billion DOGE and the total supply of the crypto is also same. The fully diluted market cap of the crypto is $11.594 Billion and the total value locked for the crypto is $3.27 Million
The supply inflation of the crypto is high and the crypto has medium volatility trading with neutral sentiment. Also, the fear and greed index of the crypto is at 74 indicating greed in coin price.
Dogecoin Derivatives Analysis
The long/short ratio of the Dogecoin is 0.9658 and the long liquidation recorded by Coinglass for the coin is $185.65K. The short liquidation for the crypto is $19.39K and the derivatives trading volume of the crypto has declined by 5.1%.
Moreover, the value of the traded volume for the crypto is $428.09 Million and the open interest for the crypto is worth $475.95 Million.
DOGE Crypto Technical Analysis
After losing its value by more than 88% from its all-time high price, the price of the coin is currently trading in a small zone at lower levels. For a further change in the character of the crypto price, it needs an influx of buyers.
If the buyers manage to push the price above the consolidation zone and the most recent swing high of $0.17995, it might lead to a strong uptrend in the future.
DOGE/USD Chart by TradingView
The 50 and the 200-Day EMAs are trading in a golden cross while the price of the coin is reversing and following bearish candlestick patterns. The price of the crypto is currently trading between the EMAs indicating volatility.
The MACD indicator is moving towards the formation of the bullish scenario on the daily chart as the formation of bullish histograms can be seen on the chart. The MACD line has also broken above the signal line.
The RSI looks to be volatile following a small range and trading near 50 level for a long time. This further indicates uncertainty in the crypto price.
Summary
Dogecoin has neutral sentiment but the fear and greed index at 74 represents uncertainty. Technical analysis shows a potential for uptrend if buyers surge, yet volatility persists amid bearish candlestick patterns and fluctuating EMAs, signaling an uncertain trajectory.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.