Dogecoin Market Performance and Risk Analysis
- Market Capitalization: Dogecoin currently has approximately 150 billion tokens in circulation, with a market capitalization around $14.2 billion, solidifying its position among the top cryptocurrencies despite facing market volatility risks.
- Transaction Activity: Over the past 24 hours, the Dogecoin network processed about 22,344 transactions, with an average transaction fee of just $0.038, demonstrating its efficiency and affordability as a payment system, thereby enhancing user adoption.
- Inflation Mechanism: Dogecoin implements an unlimited issuance model, generating approximately 5 billion new tokens annually, which incentivizes miners but simultaneously creates continuous dilution for existing holders, impacting the potential for price appreciation.
- Ownership Concentration: Data indicates that the top 100 addresses control roughly 66.39% of the circulating supply, with the largest 10 wallets holding 44.44%, suggesting that this concentration may increase market volatility and affect investor confidence.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0818 | 0.0854 | 0.0889 | 0.0925 | 0.0959 | 0.0995 | 0.103 |
| Fibonacci | 0.0854 | 0.0881 | 0.0898 | 0.0925 | 0.0952 | 0.0968 | 0.0995 |
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