Bitcoin

Dogecoin

<ul>
 <li><em>DOGE has a short-term bearish bias on the price charts.</em></li>
 <li><em>The recovery from the $0.086 zone was encouraging as it showed bulls were still in the fight.</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/doge" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Dogecoin [DOGE]</a> saw its momentum shift bearishly after the recent selling pressure forced prices to dip to the $0.086 support zone. Yet, <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> recovered overnight and there was a market-wide bounce in asset prices.</p>
<p>AMBCrypto <a href="https://ambcrypto.com/where-shib-bonk-pepe-doge-stand-as-2023-ends/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a> on the performance of the meme coins in 2023 and noted that DOGE showed signs of short-term bearish sentiment in the futures market. Could the bulls reverse this development soon?</p>
<h4><strong>The November high was revisited as support</strong></h4>
<div id="attachment_359422" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359422" decoding="async" class="wp-image-359422 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price.png" alt="Dogecoin gains 8.2% in a day, where is it headed next?" width="1940" height="1099" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price-300x170.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price-1024x580.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price-768x435.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-price-1536x870.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-359422" class="wp-caption-text">Source: DOGE/USDT on TradingView</p>
</div>
<p>The 12-hour price chart showed a bearish market structure had developed. This was followed by the RSI dipping to the 41.5 mark to indicate a shift in momentum.</p>
<p>However, the OBV clung stubbornly to a level of support it has defended throughout December.</p>
<p>In mid-November, DOGE prices reached the $0.085 region. It was a strong resistance level at that time and caused a sharp pullback to $0.07. Since then, the buyers have breached it and also retested it as a support zone, highlighted in cyan.</p>
<p>On 18th December, the price fell to this region once again but immediately bounced higher. This showed buyers were strong, but the price was now at a lower timeframe resistance at $0.0928.</p>
<h4><strong>The rising active addresses were encouraging</strong></h4>
<div id="attachment_359423" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359423" decoding="async" class="wp-image-359423 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment.png" alt="Dogecoin gains 8.2% in a day, where is it headed next?" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOGE-santiment-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-359423" class="wp-caption-text">Source: <a href="https://app.santiment.net/s/CWPi9xew" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Santiment</a></p>
</div>
<p>The active addresses count has been trending higher since mid-November. This showcased increased participation from users and pointed toward increased demand for DOGE as well. The metric was near its three-month high at press time.</p>
<p style="text-align: center;">Is your portfolio green? Check the&nbsp;<a href="https://ambcrypto.com/calculator/dogecoin-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">DOGE Profit Calculator</a></p>
<p>The social volume was strong in early December but has receded since then. Yet, it was higher than what it was in October and the first half of November.</p>
<p>The dormant circulation saw a large spike when prices were at $0.097 on 12th December. This suggested increased token movement and was a sign of a spike in selling activity, and was followed by a descent in prices to reinforce this idea.</p>
<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>

Dogecoin prices gain 8.2% in a day – Are new predictions on the way?

AMBCrypto

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