DOGE Price Analysis for June 8

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Nei­ther bulls nor bears are con­trol­ling the sit­u­a­tion on the mar­ket today, accord­ing to the Coin­Mar­ket­Cap rank­ing.

Top 10 coins by CoinMarketCap

DOGE/USD

The rate of DOGE has risen by 1.24% over the last 24 hours.

DOGE/USD chart byTradingView

Image by Trad­ingView

On the hourly chart, the rate of DOGE is trad­ing near the local resis­tance at $0.06847. If buy­ers can hold the gained ini­tia­tive, traders can expect a chan­nel break­out and fur­ther upward move to the $0.07 zone.

DOGE/USD chart byTradingView

Image by Trad­ingView

On the big­ger time frame, the price of SHIB has not decid­ed yet which way to go. Thus, the vol­ume has fall­en, which means that buy­ers are not ready yet to get back in the game. Cur­rent­ly, one should focus on the inter­im mark of $0.065.

If a break­out of it hap­pens, there is a high pos­si­bil­i­ty to see a test of the sup­port at $0.06251 shortly.

DOGE/USD chart byTradingView

Image by Trad­ingView

From the midterm point of view, sell­ers are not giv­ing up as the rate keeps slow­ly approach­ing the sup­port at $0.05577. In this case, traders are like­ly to see an ongo­ing drop to the area of $0.04-$0.05 by the end of the month.

DOGE is trad­ing at $0.06806 at press time.

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