Dogecoin Hits 100-Day Low: Is Another Meme Coin Taking Over?


Dogecoin has recovered 5% in 24 hours to $0.1235 as it recovers from yesterday night's 100-day low.

After a rough few weeks for the market, the meme token is up 2% in a week, down 12% in two weeks, and down 27% in a month.

Although less amazing than Bitcoin, Solana, and Toncoin's 12-month growth, DOGE's 83% rise in the last year remains.

WienerAI, a meme token, attracted investors to its $6.4 million presale, suggesting traders may choose fresher tokens for faster returns.

DOGE has recovered from its 100-day low from yesterday night, and its momentum may endure many days.

Its 30-day moving average (orange) is rising strongly and close to exceeding its 200-day average (blue), indicating a breakout.

DOGE's relative strength indicator (purple) rose from 30 yesterday to over 70 today, signaling purchasing pressure.

It's also encouraging that the coin's trading volume has increased from $330 million two days ago to $850 million today.

After many weeks of decrease, traders can see that the coin's lower price has attracted buyers again.


Some traders believe DOGE will replicate its late 2020 and early 2021 gains.

The coin's indications imply this is conceivable, but investors should remember that each year and cycle has different fundamental and macroeconomic variables.

In this situation, purchasers are still worried about Mt. Gox's creditors dumping $9 billion in BTC.

Next month, Mt. Gox trustees will refund this amount of BTC, causing prices to drop.

Dogecoin's price may not rise for weeks or months.

However, with the currency highly oversold and central banks cutting rates later in the year, growth will come.

In the next weeks, it may rebound to $0.15 before hitting $0.2 by Q4.

#DOGE $DOGE