Price of DOGE Has Climbed 2.05% Over the Last 24 Hours

Dogecoin (DOGE) is up 2.05% over the last 24 hours according to the crypto market tracking website, CoinMarketCap. As a result, DOGE is trading at $0.08962 at press time. Despite the 24-hour rise, the price of DOGE is still down 11.27% over the last 7 days.

DOGE has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 0.93% and 0.41% respectively. The one metric that is down for the meme coin, however, is the daily trading volume, which currently stands at $524,635,486. This is a 10.69% decrease compared to the day prior.

DOGE custody on Binance and Robinhood (Source: Twitter)

The Twitter user, WhaleGooBrr (@WhaleGooBrr), tweeted today that Robinhood Dogecoin custody percentage, 27.99%, has decreased 0.01% in the last day. On the other hand, Binance Dogecoin custody percentage, 6.53%, has not changed in the last day.

Daily chart for DOGE/USDT (Source: CoinMarketCap)

The price of DOGE attempted to break above the 4-hour 9 EMA line but was unable to successfully challenge the level, as bears stepped in to drag the meme coin’s price back down. The current 4-hour candle is slightly in the green which suggests that DOGE’s price will make another attempt at breaking above the 9 EMA line.

There is still bearish momentum present on DOGE’s 4-hour chart as the 9 EMA line is positioned below the 20 EMA line. In addition to this, the 4-hour MACD line is positioned below the MACD signal line. However, the narrowing gap between the MACD and MACD signal line suggests that a bullish reversal may be on the cards.

This bullish thesis will be confirmed when the price of DOGE closes above the 4-hour 9 EMA line.

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