Dogecoin, now the 7th largest cryptocurrency, seems to have sparked off an entire meme coin revolution. Presently, there is a handful of ridiculously named meme-cryptocurrencies emerging in response to Dogecoin's success, and some of them, like Pussy Financial, have successfully attracted investors' interest.
DOGE price is struggling to return above the MA 50 at $0.373 after the strong downward correction off of its all-time high price of $0.76. The dwindling slopes of the MA 50 and 200 are promoting a price consolidation phase. Nonetheless, the technical indicators MACD are currently favoring a short-term neutral-to-bearish outlook as the Doge price remains curbed around the MA 50. The RSI has improved near the 50 thresholds but has yet to nudge above it.
Near-term bears are expected to remain intact while current consolidation stays around the MA 50 at $0.373 while keeping in focus the price of $0.24, $0.19, and $0.13 levels, violation of which would risk the test of the MA 200 at $0.13. To the upside, more intense buying interest would be essential to propel the price past the immediate obstacle from the MA 50 at $0.373 until the $0.44 and $0.60 levels. Surpassing these limiting obstacles could then extend the DOGE price to challenge its all-time high of $0.76.
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