Dogecoin Seems Unaffected by the New Year Market Change

• Dogecoin gets comforted at 0.00200541 USD after a no show on the first day of 2020
• It may find itself at the support point of 0.002018667 USD soon

Dogecoin couldn’t get benefitted from the bullish market initiation for 2020. Over the last 24 hours, it seems to have stayed under the same selling pressure of 2019, and the unprecedented moves were still there. However, a mere 0.0209% hike has been noticed.

Dogecoin Price Analysis

Dogecoin was being traded at 0.00200499 USD at the opening moment of the year 2020. It went through a short-term upside movement and added 4.24% over the next 3 hours to find itself at 0.00209004 USD. However, this hike could not be sustained for long and faced a price decline of a whopping 7.34% that cost Dogecoin 0.00015 USD to push the price to 0.001936 USD by 11:50 UTC. This was the lowest point for Dogecoin. It soared by 7.48% by 01:03 UTC today and could lift its price to 0.002082 USD.

The market cap seems to have replicated the price trend. Over the last 24 hours, it has been down to 247.911 million USD from 249.432 million USD.

Dogecoin’s current price has been trading behind its both 50 days MA (0.00201708 USD) and 20 days MA (0.0020253 USD) with a good margin. It shows that no change in the fundamental has happened yet, and Dogecoin is likely to maintain this sluggish movement for the next few days. As per the Dogecoin future prediction, we should expect that it will seek the support point of 0.002018667 USD. Investors are advised to trade with caution as it may show sudden ups and downs.