Dogecoin Price Prediction as Daily Trading Volume Surpasses $2 Billion – Are Whales Buying?
DOGE has dropped by 0.5% in the past 24 hours, with the Dogecoin price slipping to $0.1475 as the crypto market as a whole recovering by 2.5% today.
The famous meme coin has now lost 16% in a week and 12.5% in a fortnight, although it remains up by 75% in a month and by 90% in a year.
Such medium-term momentum bodes well for DOGE, which continues to attracting relatively high volumes, at just over $2 billion today.
And with traders expecting the market to remain bullish over the next couple of months, the Dogecoin price is likely to witness further rallies soon enough.
Dogecoin’s chart is in a very mixed position right now, with further falls just as likely as a rebound.
Its relative strength index (purple), for example, is falling towards 40 and could sink to 30 or lower before things improve.
Meanwhile, Dogecoin’s 30-day average (yellow) crossed below its 200-day (blue) over the weekend, indicating a bearish reversal that may continue for at least a few days yet before the action becomes more positive.
That said, DOGE’s volume remains encouraging at $2.1 billion, a figure which remains more than 450% higher than where it was 30 days ago.
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