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FX.co ★ Technical analysis of Dogecoin for November 1, 2022

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Forex Analysis:::2022-11-01T06:42:00

Technical analysis of Dogecoin for November 1, 2022

Dogecoin has been one of the first cryptocurrencies to show some real life after the huge decline that followed the peak back in May 2021. We have already seen Dogecoin gain more than 100% and we should see a little more upside closer to 0.1629 before a corrective decline should be expected. A corrective decline towards at least 0.1116 and possibly even closer to support near 0.0883 before a new upswing towards 0.3500 should be expected.

That said, we will also stress, that Dogecoin has no relevance in the Crypto pace other than being a "meme coin" that Elon Musk made popular when he announced buying a very large stake. This move lifted the coin to the May 2021 peak.

Technical analysis of Dogecoin for November 1, 2022

Analyst InstaForex
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