Last Updated on April 21, 2023 by Bitfinsider
In terms of market capitalization, Dogecoin ranks ninth and had a great day yesterday. Elon Musk, the CEO of Tesla and SpaceX, tweeted that the Starship launch might occur on Doge Day, which caused it to increase by 5%.
However, that rise was insufficient to start a long bullish run. In fact, Dogecoin has lost nearly 8% in the last day due to opposition from the $0.1 level.
In 2021, the price of Dogecoin increased by 23,000%, in what seemed to be an unending uptrend. However, the market developed a triangle that was contracting and served as a reversal pattern.
The majority of Dogecoin’s gains were lost by the year’s end. As it turned out, a bear market that lasted until 2022 and beyond had just just begun.
Leading cryptocurrencies like Bitcoin have seen a sharp increase in price since the beginning of 2023. Unfortunately, Dogecoin, which still encounters significant resistance at $0.1, was not one of them.
As a result, the bias is still bearish while below resistance. What if Bitcoin declines from its highs in 2023? If it succeeds, Dogecoin will aim for a fresh try at the crucial $0.05 support level.
How to buy or trade DOGE on ProEX
You can buy or trade DOGE on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.
On ProEX, you can trade DOGE as a spot pair (DOGE/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade DOGE/USDT at ProEX Spot
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.