dogecoin After a bearish close on the daily chart, it experienced a major decline. This drop comes after the meme coin surged a whopping 28% over the last seven-day period. Currently, DOGE is down 1.33% in the last 24 hours to $0.211.
The 28% parabolic rise experienced last week has almost stalled now, but let’s take a look at what’s in store for the rest of the month in terms of DOGE price and network growth, both short- and long-term. Dogecoin started the month at a price of $0.1164. Meme coin captured consecutive green daily candles between March 1 and March 4, but experienced a sharp correction on March 5.
This correction continued the upward reversal until March 19. At this point, the price rose to a monthly high of $0.22847 as of March 27. This choppy movement shows that Dogecoin price is dynamic and may recover from the current decline.
Daily charts show an ongoing bull-bear battle, reflecting the broader trend in the sector.
Apart from the overall market situation and whale actions, data from crypto analysis platform IntoTheBlock (ITB) has identified the main resistance point for DOGE price.
Addresses in profit increased by 88.98% to 5.52 million addresses, revealing a total of 6.47 billion Dogecoins acting as a barrier to track.
A total of 573,840 addresses currently hold shares, and current charts show that this is the last major hurdle that sets Dogecoin on its way to retesting its all-time high (ATH) price of $0.7376.
