Dogecoin (DOGE) Price Analysis 12/8

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Dogecoin (DOGE) Price Analysis 12/8

Dogecoin price analysis for December 8 – The bullish momentum continues today in the global crypto market. Most cryptocurrencies maintain trading in the green zone.

Live data from CoinMarketCap show that the general crypto market cap is up by 2.54% over the last 24 hours, rising to 1.64 trillion. In addition, the Crypto Fear & Greed Index indicates extreme greed, showing 81 which is 9 points up from yesterday’s 72.

The world’s largest cryptocurrency by trade volume, Bitcoin has reached a new yearly high as it breaks $44,000 and currently trading at $44,300.

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Furthermore, Ethereum continues to trade above $2,200 and is now selling at $2,363 according to Coinstats data.

Some of the top gainers and trending cryptocurrencies today include Jito (JTO), Solana (SOL), and Seedify.fund (SFUND) with 69%, 12%, and 22% gains over the last day according to CoinMarketCap.

Recent analysis shows that bulls are dominating the market despite sellers’ pressure. The Securities and Exchange Commission’s possible approval of a Bitcoin ETF is one of the factors contributing to the consistent momentum. As previously reported by 36crypto, the Commission is indicating that it will approve, but it will decide between January 5 and January 10, 2024.

Let us look at Dogecoin.

Dogecoin (DOGE) price analysis

Over the last 24 hours, Dogecoin has surged by 8.18% and an impressive 22.8% over the last week.

On the hourly chart, DOGE is looking bullish as its price has reached and passed the recently formed resistance of $0.0987.

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The breakout has led to the price surge to the long-awaited $0.1 zone.

Dogecoin (DOGE) price analysis

Source: TradingView

In the longer time frame, one should observe the high of yesterday’s bar. The rally should shortly lead to a test of the $0.1050-$0.11 region if the candle closes above it.

Dogecoin (DOGE) Price Analysis 12/8

Source: TradingView

Looking at the midterm point, the price of the coin has made a false breakout of the resistance level of $0.1050. Also, if the bar closes with no long tick, then the momentum might be sufficient to push the price upward to $0.11 and above.

According to Coinstats data, DOGE is currently selling at $0.103 with a 24-hour trading volume of $798,488,744 ($798 million) and a live market cap of $14,665,212,930 ($14.6 billion).

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.