December 9, 2022

Forex Solution

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Dogecoin is more of a dog in the crypto universe

1 min read

Down 73% from the May high.

Bitcoin is down some 50% from the high, but the meme dogecoin is the real dog in the crypto space.  

Down 73% from the May high.

From the high of 0.73905 from May, the price is now down some 73% from that high level (over 45 days). The price low today reached $0.16325 today before bouncing back higher.  

The move lower took the price below its 100 day MA which is still lagging higher after the sharp run higher in May.  That MA comes in at around $0.27.  The low today stalled ahead of the 200 day MA at $0.1509.

With the price now at $0.1987, the digital currency is between those two extremes.  The spread is still wide, but technically, the bias turns more positive above the 100 day moving average above, and increases the bearish bias below the 200 day MA below.  

PS. the price run up started to inch higher and then explode higher at around $0.05 back in April.  So at the current level, it is still up some 270% from the low. So although a dog, if your in at the low, you are still doing ok, but nothing like the 1280% gain at the high. 

Crazy stuff…..WOW


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