Dogecoin has seen fluctuating sentiment in recent times, with many wondering if the meme coin has lost its momentum. While it reached a massive market cap of $82 billion during the COVID-19 lockdown, driven by hype and Elon Muskâs tweets, its trajectory since then has been less stellar.
Competing meme coins like Shiba Inu have outperformed Dogecoin in terms of recent gains. Dogecoinâs price remains significantly below its all-time high, trailing by about 85%, compared to Shiba Inu, which came much closer to its peak. Despite a notable rise earlier this year, Dogecoin has since corrected by 57%.
As of today, September 15th, Dogecoin is trading at $0.105, with a market cap of $15.4 billion and a 24-hour trading volume of $344.7 million. Over the past 24 hours, $DOGE has experienced a slight decline of 0.29%, but it has risen by 11% over the past week.
The 14-day RSI for Dogecoin stands at 56.32, suggesting a neutral position for $DOGE. Dogecoinâs price is currently in bearish territory, trading below both the short-term 50-day exponential moving average (EMA) at $0.113 and the long-term 200-day EMA at $0.123, which suggests the possibility of continued selling pressure.If $DOGE manages to break through its resistance level at $0.110, it could see an upward trend, potentially rising to $0.146. However, if it fails to surpass this resistance, the price might decline to its nearby support level at $0.095, with a stronger support at $0.0732.
