Dogecoin Price Tries to Turn $0.002 Into a new Support Level

As the uneasy crypto market momentum intensifies, the search for stable currencies picks up. That is only to be expected, as most investors are tired of seeing their portfolio bleed value on a regular basis. The Dogecoin price remains rather stable so far, as the $0,002 level has not been broken in a decisive manner. As such, it is also one of the few top 30 coins to note a small gain.

What Comes Next for the Dogecoin Price?

Whereas most cryptocurrency users would love to chase a good old pump-and-dump, it seems nearly no market can generate any excitement today. Finding a coin which offers stability instead of volatility is a good alternative in this regard. Unfortunately for traders, choices are very limited in this regard as well. It seems Dogecoin checks most of the right boxes, primarily because it always generates some decent trading liquidity.

https://files.coinmarketcap.com/static/widget/currency.js

Over the past 24 hours, there hasn’t been any significant Dogecoin price change. While there is a 0.8% gain in both USD and BTC value, it doesn’t amount to all that much when looking t the bigger picture. One DOGE is still valued at $0.002014, or 52 Satoshi, like it was a few days ago. As such, it seems this level will act as the new support moving forward, assuming no major retrace occurs.

When the weekend comes around, there usually isn’t too much trading volume to take note of. In the case of Dogecoin, that situation is no different, although there is no reason to panic either With $15.48m in volume, it would appear there is still plenty of interest to buy, sell, and trade Dogecoin on a Sunday. Whether or not the volume will be sufficient to keep this uptrend in place, has yet to be determined.

Even though there was some concern regarding the Dogetheruem bridge not being developed further, it seems the price hasn’t responded in a negative manner. In fact, the dip was bought pretty quickly. It is a bit unclear why Rasedul Hasan decides to share a price chart dating back to August of an unspecified year, but the sentiment still applies up to a certain extent.

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When it comes to finding memes involving Dogecoin, there is never a dull day whatsoever. Fizz has created an interesting image depicting two dogs in what appears to be a Minecraft setting. While it remains unclear what the exact meaning of this meme is it will undoubtedly lead to some intriguing storylines. The Dogecoin community gets quite creative these days.

https://platform.twitter.com/widgets.js

All things considered, it seems the Dogecoin value will not see any major changes in the coming hours. Even with Bitcoin remaining on the bearish side of the spectrum, the meme currency of the internet continues to do its own thing first and foremost. The big question is whether or not the $0.002 level can turn into support over the coming days and weeks. That may prove to be crucial for the future DOGE price.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

The post Dogecoin Price Tries to Turn $0.002 Into a new Support Level appeared first on The Merkle Hash.

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