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Synopsis: Dogecoin price today is $ 0.086, with a 24-hour trading volume of $ 873.30M, market cap of $ 11.53B, and market dominance of 0.90%. The DOGE price decreased -7.38% in the last 24 hours.
Dogecoin reached its highest price on May 8, 2021 when it was trading at its all-time high of $ 0.738. The lowest price since it’s ATH was $ 0.067269 cycle low. The highest DOGE price since the last cycle low was $ 0.094 cycle high. The Dogecoin price prediction sentiment is currently bearish.
Dogecoin’s current circulating supply is 132.67B DOGE, out of max supply of 171 DOGE. In terms of market cap, Dogecoin is currently ranked 3 in the Proof-of-Work sector and ranked 1 in the Meme Coins sector. Dogecoin price in US Dollar has decreased by -37.90%, in the last 1 month. DOGE is down -3.79% against Ethereum, and down -13.34% against Bitcoin in the last 1 month.
According to our current Dogecoin price prediction, the value of Dogecoin will drop by -0.33% and reach $ 0.086, by May 19, 2022. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing Extreme Fear. Dogecoin recorded 37%, green days with 13.12% price volatility over the last 30 days. Based on our Dogecoin forecast, it’s now a bad time to buy Dogecoin.
Based on today’s classical pivot point, with the value of $ 0.0881, Dogecoin has support levels of $ 0.0821, $ 0.0764, and the strongest at $ 0.0704. Similarly, Dogecoin resistance levels are at $ 0.0937, $ 0.0998, and $ 0.1054. Dogecoin price is positively correlated with the top 10 coins by marketcap with a value of 0.957, excluding Tether and positively correlated with the top 100 coins, by marketcap excluding all stablecoins with a value of 0.896.
Over the past 24 hours, the price of Dogecoin fell from a high price of US$0.28, to a low point of US$0.07. A significant drop like this in the Dogecoin price hasn’t been seen in months. Over the past couple of days, the whole crypto market crashed as Bitcoin went tumbling down. The reason behind this sudden market crash and Dogecoin, falling was a direct result of China’s continued crackdown on Bitcoin mining, and cryptocurrency trading in the country.
As per a report by the Wall Street Journal, China’s Central Bank has ordered the major banks in the country to throttle cryptocurrency trading. The government of China has also been cracking down, on large Bitcoin mining farms. As per a report by The Motley Fool, China has also shut down the mining province of Sichuan, which contributed to the majority of China’s Bitcoin mining capacity. As China continues on its Bitcoin crackdown and the mining rates drop, the Bitcoin network, keeps getting more congested, which directly leads to a crash in price, as the transactions, cannot go through quickly. Moreover, China’s continued ban and the falling price of Bitcoin, have scared many investors who have withdrawn their investments, in order to not lose any more money.
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