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Dogecoin level to watch as Memecoin takes hit in Iran war? Popular Analysts Say They Look Forward to ‘Starting Accumulating’ Here
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Dogecoin level to watch as Memecoin takes hit in Iran war? Popular Analysts Say They Look Forward to ‘Starting Accumulating’ Here

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Dogecoin (CRYPTO: DOGE) Slid further south on Sunday, amid signals from a leading analyst that the memecoin’s bottom could still be far away.

The bottom is yet to come?

Ali Martineza widely followed cryptocurrency researcher and trader, identified $0.058 as a key level at which they would begin accumulating DOGE – more than 37% below current prices.

Technical data gives mixed signals

The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, typically the 12 period and the 26 period, gave a buy signal for DOGE, according to to TradingView.

In contrast, the Awesome Oscillator, an indicator that compares recent market movements to historical market movements, gave a ‘sell’ signal. The Relative Strength Index, which is used to identify overbought and oversold conditions, was ‘neutral’ at the time of writing.

In the meantime, Polymarkt bettors are betting more than 50% that DOGE will close below $0.06 this year.

DOGE falls harder

The world’s most popular memecoin fell sharply as trading volume fell 33% in the past 24 hours as escalating conflict in the Middle East dragged down the broader cryptocurrency market.

The drop in spot prices was felt in derivatives, with open interest in DOGE futures falling 9.72% in the past 24 hours. according to to Coinglass. Since the beginning of the year, more than $500 million in open interest has been wiped out.

Price promotion: At the time of writing, DOGE was exchanging hands at $0.09328, down 4.01% in the past 24 hours, according to data from Benzinga Pro.

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