Dogecoin receives a strong long-term technical score of 84 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
DOGE currently holds a superior long-term technical analysis score than 84% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
Dogecoin’s price is -$0.0600000 (-31.60%) below its 100-day moving average price of $0.200000000 as its price at the moment sits at $0.140000000. Additionally, DOGE is $0.1300000 (-147742.57%) higher than its 52-week low price of $0.010000000 while -$0.60000000 (-1336.99%) under its 52-week high of $0.740000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives DOGE a strong long-term technical score of 84. Long-term trading movement of Dogecoin suggest that investors are neutral on the coin at the moment.
Dogecoin has a market capitalization of $18,417,802,423.36 and a relatively high average daily volume with $4,740,358,780.81 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, DOGE’s volume is below its seven day average with 609,605,674.91 exchanged.
This coin’s subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.
Summary
Technical analysis of Dogecoin over the past year results in the crypto receiving a a strong long-term technical score of 84 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.
