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Dogecoin’s 200-day MA Holds the Key to DOGE Retaining a Top 10 Ranking

Dogecoin is now ranked 7th in terms of market capitalization Dogecoin has dropped 3 spots in view that its top score at quantity FOUR in early Would Possibly DOGE’s TWO HUNDRED-day MA is providing ok support at the $0.17 worth house The TWO HUNDRED-day MA might be the most important in figuring out whether or not Dogecoin is still within the top 10 in terms of market capitalization

the preferred meme-coin of Dogecoin has had an eventful first half 2021 that noticed DOGE turn out to be the fourth most valuable digital asset in terms of market capitalization. The latter milestone used to be the end result of DOGE hitting its most up-to-date all-time high of $0.74 as a results of the hype surrounding Elon Musk appearing on Saturday Night Are Living back in early May.

Dogecoin is Now Ranked seventh on Coinmarketcap

Then Again, in view that then, Dogecoin (DOGE) has slowly been dropping price and score within the most sensible 10 virtual property on Coinmarketcap. Dogecoin is now ranked 7th as observed in the following screenshot courtesy of the monitoring site.

Dogecoin's 200-day MA Holds the Key to DOGE Retaining a Top 10 Ranking 17Dogecoin’s TWO HUNDRED-day MA Holds the important thing to DOGE Conserving its Best 10 Rating

Doing the math, Dogecoin has dropped 3 spots on Coinmarketcap in a span of roughly months. The drop in rankings additionally coincides with Dogecoin’s pullback from the aforementioned all-time high of $0.74.

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on the time of writing, Dogecoin is buying and selling at $0.21 with the 2 HUNDRED-day transferring reasonable offering an area of cast beef up at the $0.17 value area, as highlighted within the following day by day DOGE/USDT chart.

Dogecoin's 200-day MA Holds the Key to DOGE Retaining a Top 10 Ranking 18

This reinforce at the 2 HUNDRED-day shifting moderate will be instrumental in DOGE retaining its score above the highest 10 digital belongings in terms of marketplace capitalization.

because it stands, Dogecoin seems set to test the the most important transferring average within the following couple of weeks major up to August. This trajectory is further showed by way of the low industry volume and daily MACD pointing in opposition to an ongoing ‘gradual bleed’ for Dogecoin. The day-to-day MFI and RSI additionally make sure an ongoing pullback for Dogecoin.

Due To This Fact, if Dogecoin holds the 2 HUNDRED-day transferring average, chances are it continues to be a most sensible ten virtual asset. in the situation where this strengthen zone fails, Dogecoin will input confirmed bear territory that could result in a drop to the $0.08 price house within the weeks and months to apply.

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