Dogecoin Price Prediction as DOGE Approaches Ripple in Rankings – Can DOGE Overtake XRP?
DOGE has edged up by a very slight 0.2% in the past 24 hours, with the Dogecoin price moving to $0.1652 as the crypto market as a whole gains by 0.5% today.
The meme coin is actually down by 1.5% in a week, yet its recent good fortunes mean that it sits on a 10% increase in a fortnight and a 17% gain in a month.
Such performance keeps Dogecoin in ninth position in the market cap rankings, with the token one step away from overtaking XRP, which has suffered in recent weeks.
And with DOGE also up by 125% in a year, it has enough longer term momentum to flip XRP in the not-too distant future.
DOGE’s chart has taken a dive after a small dip this morning, with the coin looking like it could fall a little further before rallying again.
Its RSI (purple) has fallen from 60 earlier today to around 45 as of writing, with its direction suggesting that it may drop lower.
At the same time, DOGE’s 30-day moving average (orange) has been comfortably above the 200-day (blue) for over a week now, yet it’s now beginning to decline towards the longer term average.
This would indicate that it may have begun a short- or medium-term period of decline, and could test its support level (green) before recovering.
What’s also disheartening is that the token’s 24-hour trading volume still remains relatively underwhelming, at $1.3 billion today compared to $2.5 billion less than a week ago and upwards of $8 billion in early March.
In other words, there’s a comparative lack of demand for DOGE at the moment, with the last big Dogecoin buy coming on May 9, when a whale took around $18 million in the token off Robinhood.
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