Dogecoin (Doge) loses decisive support in prices amid a 15 % decrease, what is the following?
Dogecoin Cryptocurrency under the title of dogs (DOGE) records significant decreases because the encryption market faces sale pressure.
Dogecoin has now lost more than 15 % of its value in the past two days after a sharp drop at the beginning of the week during the early trading session.
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The decrease in the DOGECOIN slide has caused a minimal moving average for 200 days (SMA) at $ 0.24 for the first time since October 2024. This main technical level was a strong support zone for Dogecoin price.
The broader encryption market is still volatile, which puts pressure on the price of Dogoin. Bitcoin decreased less than 90,000 dollars, reaching its lowest evaluation since mid -November. Other cryptocurrencies, including Dogecoin, have declined, which have declined significantly for this day. At the time of this report, Dog has decreased by 14 % in the past 24 hours to $ 0.199. The main digital diocese index was ready for the largest four -day decrease since early August.
Altcoins is under pressure where investors search elsewhere, as the sector is still reeling from the BYBIT attack last week. Since mid -December, most symbols have lost between 30 % and 80 %.
Dogecoin work
Dogecoin has maintained its declining direction. After a major shift in the trading session on Monday, the cryptocurrency fell to the bottom of the SMA 200 at $ 0.24. The slide lasted until Tuesday’s session, when prices touched a decrease at $ 0.195.
Ali, the encryption analyst, highlights the importance of $ 0.19 support. According to Ali, if Dogecoin decreases to less than $ 0.19, the probability of correcting about $ 0.060 will significantly increases.
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Unlike this assumption, if the price of this support line appears from this support line and recovers the daily SMA support, it may indicate that the sale pressure is abandoned. Dogecoin may try to gather to SMA for $ 50 at a value of $ 0.30, as you may face resistance.
