Doge Price Analysis: Dogecoin price experienced an 11% drop in price late Monday night going into Tuesday. The price dropped as low as $0.113, the lowest since February. The price of Dogecoin briefly recovered and is now trading around $0.1218 at press time. Despite the fall in the value of the general market, DOGE price’s current support proved to be strong. Dogecoin may need to make a decision soon that might influence the next direction its price takes.
DOGE Price Analysis: Decision Time for Bulls
DOGE price was previously trending inside a giant descending triangle. The base of the triangle provides robust support for DOGE but prevailing bearish market conditions created by Bitcoin may render it useless. The support has been tested three times before and investors are hoping it will hold water now. Descending triangles are generally not bullish, but if they resolve upwards, it’s usually explosive.
The price of DOGE is trending below the 50-day and 200-day simple moving avera
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