Dogecoin DOGE price is surging consecutively, hitting a 34-day continuous high streak. It remains to be seen if Dogecoin can sustain its upward trajectory.
Dogecoin, the world’s largest memecoin, has increased consecutively for more than a month. It has reached its highest level since the last 34 days. Market Trade analysts, however, hint that DOGE’s current price trends suggest that this increase may not last long. Dogecoin (miners) are selling their coins, suggesting DOGE prices will decrease instead of rising.
Dogecoin on the Rise
According to CoinMarketCap’s data Dogecoin DOGE price surge by more than 14%. In the last 24 hours, the DOGE price has 4% more increases. Now It is trading at $0.1369 and Its market price is more than $19.88 billion, which makes it the 8th largest cryptocurrency. The popularity and positive sentiment of Dogecoin have also boosted because price increses.
According to IntoTheBlock’s data Dogecoin addresses were in profit nearly 50 million.
Dogecoin DOGE Price Surge Might Be Short-Lived
According to AMBCrypto, The Dogecoin DOGE price surge may down soon by Dogecoin looks from data and market situation. Dogecoin miners are selling our coin and More people are betting against Dogecoin than in favor of it.
Fear and Greed Index are on 73%, which see that very excitement in the market and when this happens prices often fall. chaikin money flow are down on daily chart. And the Money Flow Index is in the overbought zone. All this indicates that the price of Dogecoin may go down.
Conclusion
DOGE price has increased significantly in the last month but conditions can change any second.
Analysts say that its increasing can not last long. People holding Dogecoin should keep an eye on the coin and its price before making any decisions.
Also Read:- Shiba Inu Coin Burns Surge Despite Market Consolidation
