DOGE Rockets Back? Can Dogecoin Return to $0.73 Highs!
In 2021, Dogecoin (DOGE) peaked at $0.73, ushering in the meme coin era thanks to Elon Musk’s strong support. However, the cryptocurrency has since fallen significantly in value, dropping to $0.06 by 2023. The community remains curious as to whether DOGE can reclaim its previous highs.
Over the past week, DOGE has fallen 3% to reclaim key support at $0.1184. Currently, DOGE is trading at $0.1188, down 5% in the past 24 hours, with a market cap of $17.4 billion and a trading volume of $497.7 million, an increase of 25.71%.
The Stochastic RSI indicator shows a short-term pullback, suggesting that DOGE could fall further.
Despite the recent decline, 75.77% of DOGE addresses remain profitable. This may suggest profit-taking behavior in the current market structure.
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The data shows that the volatility led by exchanges is increasing, indicating an increase in the transfer to exchanges. This trend, coupled with the continued market decline, has given the upper hand to the bears, pushing DOGE back to the $0.1184 level.
If the bulls can maintain this level, a test of the $0.132 resistance level may be imminent.
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