Dogecoin (DOGE) saw a brief 2% gain in its last session, but this minor increase wasn't enough to counter its overall decline.
Dogecoin’s brief 2% gain wasn’t enough to stop its overall downtrend, mirroring the broader decline in the memecoin market.experienced a slight uptrend in its last trading session; however, this minor gain was insufficient to prevent an overall loss. The recent downturn in DOGE’s price exemplifies the broader decline thatexperienced a brief positive trend, with its price increasing by over 2%.
The short-lived gain failed to sustain momentum, and the broader market conditions continued to exert downward pressure on DOGE’s price.daily chart indicates that it experienced slight consecutive uptrends from August 28th to 30th after a challenging start to the week. The chart analysis further reveals that DOGE is struggling with a bearish trend, as evidenced by its short-moving average acting as resistance. DOGE is currently trading below this moving average, which is around $0.11, reinforcing the bearish pressure.
The RSI’s position below the neutral level suggests that the market sentiment around DOGE remains bearish, with little sign of immediate recovery.However, the data also indicates that Dogecoin has experienced a decline of over 8% in the past seven days.
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