DOGE is range-bound between $0.059 and $0.06 today after shedding $0.001 and closing at $0.06 today.
Despite being in the red so far in the current trading session, Dogecoin peaked above its 10 day Simple Moving Average around $0.06 — typically an early indicator of a new bullish trend beginning to emerge. A "hammer” chart pattern. When appearing during a bearish trend, as it is now, it is typically considered to be an indication of a trend reversal. DOGE's lower Bollinger band is at $0.057, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that DOGE (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.481, Ripple lost $0.01 and is trading around $0.471. Cardano is trading around $0.366 (down $0.007). FTX Token retreats 1.77% to trade around $23.72.
11 months ago Dogecoin reached a significant high of $0.3 but has consequently lost 80% since then. Dogecoin has a market cap of 7.87 billion with an average daily volume of 44.21 million.