Dogecoin price analysis for June 21, 2022, comes on a bullish note for the meme coin and the token has finally broken above the $0.06 price region in the last 24 hours. We have seen the meme coin rise by 5% and it seems that there are chances of DOGE breaking into an uptrend as well. Furthermore, as per our DOGE price analysis for June 20, 2022, DOGE bulls are gradually taking over the price action as people are taking advantage of the current bearish situation of the market. The meme coin continues to hold the 10th position in the crypto space.
The data from CoinMarketCap shows that the trading volume for Dogecoin has dropped by 8.25% in the last 24 hours, followed by a 6.29% surge in the market cap. Moreover, the Market Dominance of the coin rose to 0.92%, while the Volume / Market Cap Ratio has a value of 0.07919.
The daily candle for Dogecoin opened at a price of $0.06002 and reached a daily high of $0.06732. Furthermore, the daily low for the coin stands at a price of $0.05896, and the price of 1 DOGE at the time of writing is $0.06420.
Dogecoin price analysis on the daily chart for June 21
Dogecoin price analysis on the daily chart for June 21, 2022, will consider the data presented by 3 major indicators on the daily chart below.
The RSI indicator reads a value below 43 confirming that the bulls are taking over and the gradient of the line suggests that lower prices are possible for DOGE.
The MACD indicator shows that the MACD line has broken above the signal line confirming a bullish divergence on the daily chart.
The price action for Dogecoin is situated in the bearish region of the Bollinger Bands but we can expect DOGE to retest the middle zone soon.
Dogecoin price analysis for June 21, 2022, ends on a bullish note for the meme coin as we can expect DOGE to retain prices above $0.06.