Dogecoin Price is looking to close January with a positive reminder, will February be different?
Este artículo también está disponible en estñol.
Dogecoin managed to maintain a relatively positive position at the end of January though Severe fluctuations throughout the month. With the end of January and the closure of the price of Dogecoin per month on a positive note, the following expectations are what awaits us for Meme and whether Dogecoin investors can see A. A similar price direction In February.
Dogecoin price performance in January
The DOGECOIN price movement in January was full of severe volatility. The MIM coin opened the trading of about $ 0.315, after it decreased in the last half of December. Interestingly, this opening price has proven that it is an important support level throughout the month, as Dogecoin is repeatedly tested and retreated in response to market fluctuations.
Related reading
In terms of performance, the prices of Dogecoin in January reflected the disturbances seen in the encryption market, with great manipulation playing a role in its path. After starting the month at about $ 0.315, Mimi currency Go up For the first seven days, in line with Bitcoin’s return above The price level is $ 100,000.
This first upscale movement saw that the price of Dogecoin reaches $ 0.39 on January 7. It was short -termAnd the severe fluctuations mentioned above witnessed that these gains are erased within 48 hours. After rejection near $ 0.4, Dogecoin decreased by 19 % in two days before the support was eventually bounced at $ 0.31. Interestingly, Dogecoin will come to re -test this level twice during the next five days.
The second re -test of this support zone led to a strong crowd of 40 % pushing Dog above the resistance level 0.40 dollars again after multiple attempts. This upward momentum reached its climax with Dogecoin reaching $ 0.4313 on January 18.
However, this high price was met with further rejection, which led to a new declining direction. Dogecoin and many other encrypted currencies have seen an increase of external flows in capital rotation, such as many investors Fomo on Mim Donald TrumpIt was launched on January 17. Despite this huge setback, dogecoin once I found again support At a level of $ 0.315, it enhances its importance as a strong price floor.
What do you expect in February: keeping momentum or facing a reflection?
The euphoria surrounding the election of Donald Trump and the Mimi currency has ended, and it appears to be the market CalmDogecoin has begun a gradual recovery of more than $ 0.31. With January approaching, attention is in February to see if Memecoin can maintain its current momentum during the month or undergo another volatile movement within a scope.
Related reading
At the time of writing this report, Dujij is trading at $ 0.33, an increase of about 4.25 % of the January Open Championship. According to date Cryptorank price dataThe price of the Dogecoin go down in February often. However, February 2024 proved that it is a positive month for Mimi, as the month closed the 50 % of open gain. A similar performance will witness that Dogecoin closes about $ 0.5 if January will be closed at its current price.
According to Chefir analyst, the current market dynamics indicate that DOGE will be subjected soon A strong pump above the price level of $ 0.4. However, the most important thing at the moment is for Dogoin to carry more than $ 0.315 and $ 0.3. Failure to keep these levels can erase the bullish momentum.
Distinctive image from Unsplash, Chart from TradingView.com
