Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Helios Blockchain Partners ZNS Connect to Launch Web3 Naming on Testnet

July 30, 2025

Will ADA outperform Bitcoin? – Charles Hoskinson’s 100x prediction explained

July 30, 2025

First Look: Inside United’s Newest Denver Club

July 29, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Wednesday, July 30
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Crypto»Dogecoin price slumps after recent surge: How low could it go?
Crypto

Dogecoin price slumps after recent surge: How low could it go?

November 3, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

  • Even as Dogecoin’s price drops, its funding rate remains positive.
  • The price has decreased by nearly 5% since the last update.

In recent days, Dogecoin has seen significant price fluctuations, reaching one of its highest points before a sharp decline. This volatility has raised concerns among investors about the potential for further drops if the bearish trend continues.

By analyzing DOGE’s price movements, the NVT ratio, and overall market sentiment, we can gain insights into where the coin may be headed in the near future.

Price Trend Indicates Possible Downtrend for Dogecoin

After reaching a peak, Dogecoin’s price chart shows a clear downtrend.

Following a bullish surge that pushed the price to $0.17976, the asset has since dropped to around $0.15048. This decline is accompanied by decreasing trading volume, indicating a weakening buying momentum.

The MACD indicator, which previously showed bullish signals, is now flattening, suggesting a potential shift towards bearish dominance.

Dogecoin price trend

Source: TradingView

The RSI is hovering around 56.63, moving away from overbought levels. If this trend continues, Dogecoin may test key support levels at the 0.382 ($0.14970) and 0.5 ($0.14042) Fibonacci retracement levels.

Rising NVT Ratio Indicates Potential Overvaluation for Dogecoin

The Network Value to Transaction (NVT) ratio for Dogecoin is a crucial metric to monitor. Historically, peaks in Dogecoin’s NVT ratio have often preceded market sell-offs.

Dogecoin NVT

Source: Santiment

The recent increase in the NVT ratio suggests a possible overvaluation compared to current transaction volume, indicating a potential price correction.

A high NVT ratio could indicate inflated valuation driven by speculation rather than actual network usage.

If this trend continues, it could signal further downside risks for Dogecoin.

Key Levels to Monitor Amidst Bearish Sentiment

Apart from the mentioned support levels, traders are closely watching the 50-day and 200-day moving averages for Dogecoin, located around $0.12409 and $0.12724, respectively.

A breakdown below these averages could lead to more selling pressure, potentially pushing DOGE back to the $0.12 range. Conversely, stabilization around $0.15 may indicate the downtrend is losing steam.


Is your portfolio green? Check out the Dogecoin Profit Calculator


Despite current market sentiment and the rising NVT ratio, the short-term outlook leans towards the downside.

The recent price trend and elevated NVT ratio suggest a challenging path ahead for Dogecoin. If bearish sentiment persists, the coin may retest lower support levels before finding stability.

Next: Could October’s NFT boom signal the start of NFT summer?
Dogecoin price slumps Surge
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Helios Blockchain Partners ZNS Connect to Launch Web3 Naming on Testnet

July 30, 2025

Will ADA outperform Bitcoin? – Charles Hoskinson’s 100x prediction explained

July 30, 2025

Bitcoin Long-Term Holders Begin Distribution: Mirroring Fall 2024 Cycle

July 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

The Top 24 Most-Read Inman Real Estate News Stories Of 2024

December 28, 20240 Views

Sheriff Suggests “Ominous… Conspiracy” Behind Trump Assassination Attempt

September 16, 20240 Views

Why politicians need to get over their tech insecurity

July 16, 20250 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Crypto

Helios Blockchain Partners ZNS Connect to Launch Web3 Naming on Testnet

July 30, 20250
Crypto

Will ADA outperform Bitcoin? – Charles Hoskinson’s 100x prediction explained

July 30, 20250
Personal Finance

First Look: Inside United’s Newest Denver Club

July 29, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.