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Price Analysis

Will Dogecoin Price be able to Beat the Bears?

  • Dogecoin price is still under bear pressure as seen by the price variations over the past month.

Dogecoin has not been able to sustain its position in the upward range due to the constant bear pressure since they gained strength from the end of June. From the past one month, DOGE shows a lot of price fluctuations and is trading mostly below the baseline with the prices oscillating between $0.0023 – $0.0029.

Dogecoin Price Predictions

The price of Dogecoin has been continually in the lower range due to the bear pressure in the crypto market. From a high of $0.002897 on August 19, 2019, the price went on a downhill to $0.002360 on August 29 to the extent of 18.46%. DOGE then made a recovery on September 09 to the tune of 13.68% at $0.002683. With the bears showing an upper hand, Dogecoin price again went down in the next 8 days to $0.002319; downward movement was to the extent of 13.64%. In a matter of the next 4 days, DOGE price went up at $0.002567 to the tune of 10.71%. Currently, Dogecoin is trading at $0.002478, which is again lower by 3.84%.

Dogecoin Price
Dogecoin Chart By TradingView

Dogecoin to USD Price Chart

Dogecoin price has seen a lot of variations from the beginning of the year. The price of DOGE was moving in a flattish range till April where it suddenly rose during the first week of April. Dogecoin had managed to sustain its momentum even as late as July 16 when it was at $0.0032, but by then, the bears had got stronger, and the downslide began for the coin. Analysts expect this volatility to run its course for the short-term and feel that DOGE has the potential to bounce back by the year-end.

For long-term investors, this is the right time to make their investments. Short-term and day traders should invest cautiously, taking market conditions into account.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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