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Will Dogecoin (DOGE) Skyrocket this October?

WikiBit 2021-09-30 17:53

Abstract:Dogecoin is an open-source peer-to-peer cryptocurrency.

  Dogecoin is an open-source peer-to-peer cryptocurrency. For quite some time now, the price of Dogecoin has been absent from the show and buzz. Interestingly, there is a 20% increase in the price compared to this time last year. Sadly, the coin has not come near to an all-time high in recent days.

  In addition, the Dogecoin prices didn‘t see any notable changes also. Instead, the coin’s transactions are only decreasing over the period of time. More so, the crypto has noticed many pumps and dumps. Added to this, most investors are part of FOMO. As DOGE does not really stand well with its core fundamentals.

  Summing up, Dogecoins price is at $0.20 with a 24-hour trading volume of $844,254,844, at press time. More so, the coin might increase if the catalysts work in favour of the basics of the platform like that of the Ethereum bridge.

  The chart below shows that DOGE has shown a bear trend in the past few days. Moreover, the DOGE price dropped over 10% in the last 7 days. If this trend continues, DOGE might run along with the bears, moving below its $0.04 support level and drop lower.

  The Relative Strength Index (RSI) is above 38.12, which means that DOGE is in an oversold state. Hence, this may lead to a price reversal at any given time. All-in-all, the DOGE price can hit $1, in case the trend reverses and shows a bullish trend.

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