Shiba

Dogecoin

bullish

Shiba Inu

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<p dir="ltr">The crypto market is undergoing a major bearish retreat as Bitcoin (BTC) has forced other assets to a new low, including Dogecoin (DOGE),&nbsp;<a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">per</a> CoinMarketCap data. While the price of Dogecoin took the bearish bait, other important metrics have stayed elevated.</p>
<h2 id="dogecoin-price-sends-bullish-signal-with-volume-boost">Dogecoin price sends bullish signal with volume boost</h2>
<p dir="ltr">At the time of writing, the price of Dogecoin had added a new zero and was changing hands for $0.09925, down by 6.25% in 24 hours. Rather than focus on this price outlook to redefine the next pace, investors have chosen a more bullish path for DOGE.</p>
<p dir="ltr">The trading volume has jumped by more than 25% within the same period, with a total of $668,022,374 traded. For a relatively more speculative digital currency, this trading volume is making no unique difference for DOGE. After flirting around the&nbsp;<a href="https://u.today/dogecoin-doge-reaches-crucial-support-level" rel="noopener noreferrer nofollow">crucial support level</a> at $0.10, the coin eventually caved in, dropping as low as $0.0097.</p>
<p dir="ltr">Notably, Dogecoin is only one of the hits among the meme coin assets. Shiba Inu (SHIB) and PEPE recorded worse drawdowns, with their prices falling 7.2% and 9.23% to $0.00001378 and $0.000007694, respectively.</p>
<h2 id="rebound-trend-to-watch">Rebound trend to watch</h2>
<p dir="ltr">It is worth noting that individual tokens have their respective strengths and weaknesses. With the price at a near multi-week low, Dogecoin investors may need to focus on its strength.&nbsp;</p>
<p dir="ltr">The coin is a major favorite of&nbsp;<a href="https://u.today/dogecoin-whales-worryingly-cash-out-amid-doge-price-pump" rel="noopener noreferrer nofollow">market whales</a>, who keep plunging heavily, hoping the ultimate price rebound will favor them. With IntoTheBlock data showing that more than 70% of Dogecoin addresses are profitable, the confidence to defy current market trends is high.</p>
<p dir="ltr">This might further help the DOGE price in its journey toward recovery. Ultimately, the&nbsp;<a href="https://u.today/bitcoin-btc-capital-inflow-cooling-down-expect-volatility-glassnode-report-says" rel="noopener noreferrer nofollow">resurgence of BTC</a> in the short term remains the dominant catalyst that might trigger the Dogecoin rebound based on the strong correlation.</p>

Dogecoin (DOGE) Skyrockets 25% in Volume as Price Takes Bait

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