Dogecoin has reached a new milestone with the number of number Entry pockets in the network Meet a new all -time high (ATH). Despite this bullish development, the Doge Prize continues to fight, which has raised concerns among the members of the community.
Dotecoin Wallets hit a new ATH, but the price continues to fight
In X PostThe crypto analyst Ali Martinez showed that the total number of Dotecoin letters has reached a new all-time high of 83.48 million. This is optimistic of Doge because it indicates that more users use actively The networkAnd the leading Memmünze. An increase in the use of dotecoin tends to lead to higher prices for the meme coin.
In this case, however, the price for Dogecoin is fighting, although the addresses of the network meet for a new ATH. Doge is currently below the psychological price level of $ 0.20, after it has steadily declined from a local high of USD 0.46 in December. As Bitcoinist recently reported, The price drop from Dogecoin is more due to external factors than their basics.
The ongoing Trading war Between the USA and other countries such as Canada, Mexico and China, investors have triggered a bearish feeling and has a negative impact on Dotecoin and other crypto assets. In addition, the United States continued to create uncertainty on the market by going back and forth over the tariffs that they want to impose on these countries.
In the meantime, the US Federal Reserve maintains a Hawkian attitude and reduces the probability of the Fed in the cutter this year. This is also Bärisch for Dogecoin and continues to affect the price. It is unlikely that investors of the Meme coin and other risk assets assign a lot of capital without an interest reduction.
The risk of Doge to drop to 0.15 US dollars
In an X Post, Ali Martinez It warned that the price of Dotecoin could drop to just 0.15 US dollars if it breaks under the support level of $ 0.19. He explained that Doge had been acting in an ascending channel since 2014 and tend to have used the lower support trend line of the canal to the upper resistance trend line.
Crypto -analyst Dealer Tarderrade suggested that the price for Dogecoin could break out of the advantage instead of suffering a break of less than 0.19 US dollars. In an X -Post, he explained that the average direction index (ADX) from Doge has a potential increase. His associated table showed that the foremost Meme coin could collect to 2.8 US dollars on this increase.
In the meantime, the crypto analyst Kevin Capital in the middle of this market has stated that this may now be a good time Collect dog coin. He pointed out that the weekly relative strength index (RSI) of Doge, which is currently oversold, is oversold. As such, the Meme coin could soon recover from its current price level.
At the time of the letter, the Doge Prize will go back to around 0.19 US dollars in the last 24 hours, so that this has dropped by over 8% Data From coinmarketcap.
Selected picture of Unsplash, diagram of tradingview.com
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