DOGE koers riskeert 20% daling door Bollinger Bands – wat gaan crypto memes doen?

The price of Doge could potentially experience a significant dip in the near future. The meme coin, which has been a phenomenon within the crypto market for years, is moving towards the lower half of the Bollinger Bands technical indicator. This could indicate a potential decline in the coming days, but does not guarantee a drop.

The Bollinger Bands indicator is based on the average price of the last 20 days. Often we see that the price of a cryptocurrency moves towards the outer band of this indicator, before reversing direction.

When the price moves above or below the middle line, it indicates the direction. Recently, Doge’s price has already dropped and we saw that it reached the outer band. Now that the altcoin is still in the lower half of the Bollinger Bands, there is a strong possibility that the meme coin will drop again soon.

In recent times, we have seen many meme coins experience significant declines. For example, Shiba Inu plummeted by a substantial 65% after reaching a local top. The overall crypto market has been turning red in recent weeks, primarily due to high inflation and the Federal Reserve’s decision not to further reduce interest rates.

During bull markets, we often see periods where altcoin prices undergo corrections before resuming their upward trend. Dogecoin seems to be following a similar pattern at this moment.

In the above image, we see Dogecoin’s price chart. The chart shows some key price points that Dogecoin has encountered in recent months. The local bottom currently lies around $0.07. During the recent dip, Dogecoin managed to find support around $0.20, indicating a strong support level here.

Since early December, we see that a downtrend has begun. After reaching a local top around $0.48, Doge’s price fails to go further than $0.43 at its next breakout point, but we see that highs are getting lower and lows are also reaching new lows.

Ultimately, the support level around $0.20 was reached during a steep decline. This is still higher than the local bottom of $0.07, indicating that a higher bottom has been formed. Additionally, Doge managed to reach a new peak. The previous peak was around $0.22 and rose to $0.48.

Higher highs and higher lows indicate that Dogecoin is still in an uptrend. This temporary correction may soon come to an end despite negative signals from indicators on Dogecoin’s chart; an increase in value may be possible in the near future.

Now that altcoin season seems almost ready to begin, investors are actively looking for the best altcoins to generate returns with them. In recent months, we have seen some altcoins rise significantly such as XRP, ADA and LINK.

However, investors are interested in cryptocurrencies that have not yet risen sharply; these are often altcoins not yet available on exchanges which leads us quickly to presale cryptos.

A new presale crypto recently launched is Mind of Pepe. During Mind of Pepe’s presale phase, they are selling $MIND tokens which have already raised $6.4 million.

Mind of Pepe offers an AI agent to holders of $MIND tokens which provides sharp analyses about the crypto market allowing you make better decisions without any doubts.

You can purchase $MIND through ETH , BNB , USDT and credit card on official website van Mind of Pepe .

The post DOGE Price Risks A 20% Decline By Bollinger Bands – What Will Crypto Memes Do?appeared first on99Bitcoins .