Dogecoin's price has remained stagnant, showing a 3% decline over the past 24 hours. Trading volume fell by 36% to $1.65 billion despite a $370,000 purchase by Neptune Digital Assets. The price remains stuck below $0.33, with technical indicators like the Ichimoku Cloud suggesting a bearish outlook.
The Ichimoku Cloud chart points to downward pressure, with resistance levels expected to stay strong. The conversion line is moving sideways, indicating consolidation. Overall, bearish sentiment prevails in the market as Neptune Digital Assets' recent purchase has not bolstered the price.
The BBTrend indicator shows a negative reading, signaling weak bearish momentum but some easing in selling pressure. DOGE remains in a downtrend, but a reduction in negative momentum could lead to potential consolidation or a relief bounce.
The price prediction remains cautious, with EMA lines suggesting the downtrend persists. A move below $0.20 could push prices further down, but a trend reversal could lead DOGE back toward $0.36.