The bullish momentum continues in the global crypto market and Dogecoin isn’t left out as our price analysis for December 1 suggests. Flagship cryptocurrency Bitcoin experienced a price growth reaching $39,000 earlier today on the Bitstamp exchange.
Also, Ethereum continues to hover above the $2,000 zone. Furthermore, the general crypto market is up by 2.28% over the last 24 hours reaching a market cap of 1.45 trillion according to CoinMarketCap data.
Despite pressure from the sellers (bears), buyers (bulls) are trying to hold gains and maintain the bullish sentiment. Per Alternative.me data, the crypto Fear & Greed index rests at 71 which is 3 points down from yesterday’s 74.
Source: alternative.me
For context, the crypto Fear & Greed index is a metric used to analyze and evaluate the emotions and sentiments of investors in the crypto market and then crunch them into one simple number.
Advertisement
Dogecoin (DOGE) price analysis
According to live data from Coinstats, the price of Dogecoin is up 0.41% in the last 24 hours. Looking at the hourly time frame, the token’s value keeps falling below the $0.849 zone.
Source: TradingView
If the downtrend continues, we could see a drop to the $0.081 zone soon.
Source: TradingView
On the daily chart, a similar situation can be seen. The bears will seize the advantage if the bar closes near the $0.082 zone. Consequently, this can lead to a more significant drop to the $0.080 level by the weekend.
Source: TradingView
Alternatively, the bulls have a chance to maintain their gains in the midterm if the weekly candle finishes over $0.08380. In such a situation, the uptrend might continue to $0.09.
Dogecoin (DOGE) price today
Source: Coinstats
Meanwhile, live data from Coinstats shows that Dogecoin (DOGE) is selling at $0.0837 representing a 0.41% in the last 24 hours. Furthermore, DOGE maintains its #9 position on the global crypto market chart with a live market cap of $11,891,498,500 ($11.8 billion). Finally, Dogecoin has a 24-hour trading volume of $474,650,037 ($474.6 million.
Read more:
- Potential Approval of Spot Bitcoin ETF by SEC Set For January 2024
- Colombian President Gustavo Gifted 100k Satoshi Worth of Bitcoin
- XRP Price Analysis 11/30: Should You Invest?
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.