Dogecoin Price Tries to Stay Above $0.002 Despite Growing Bearish Pressure

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Not too many of the top crypto markets are noting real gains as of right now. While that is somewhat annoying, it is also completely to be expected. Even the Dogecoin price is feeling a bit of pressure, yet it seems to maintain its current value without too many problems. Traders will be pleased to hear the 52 Satoshi level is still in play.

Dogecoin Price Trend Tries to Stay Positive

When the top crypto markets begin showing signs of weakness once again, it is a matter of time until bearish momentum materializes. With Bitcoin on the verge of dipping in the red, the coming hours will prove to be very crucial. For Dogecoin, there is nothing to worry about just yet, as everything remains in the green. That is somewhat surprising, although also a promising sign for all other markets.

Over the past few hours, most of the positive cryptocurrency momentum has evaporated completely. This is visible where the Dogecoin price is concerned as well. A 0.4% gain in USD value and a 0.55% improvement over Bitcoin are not spectacular by any means. It is still far better than losing value like some other markets valued at a similar market cap. With the price still at $0.002030, things are looking rather positive.

On social media, it would appear the overall DOGE sentiment isn’t exactly bullish either. While some resistance has been broken earlier this week, there is no real continuation of the uptrend. This is primarily because of Bitcoin’s sideways and bearish trend, but also because a lot of effort has been put into reclaiming the 52 Satoshi level. Keeping the price above $0.002 is also an ongoing struggle at this time.

Luckily, it seems most Dogecoin users are well aware of why DOGE is so successful, In terms of using it for any kind of transaction, it seems there is no equal to this altcoin at this time. Its low fees and quick processing time make it vastly superior to Bitcoin and most other altcoins on the market today. It is also one of the strengths of this particular currency which is overlooked quite often.

Last but not least, there is still a growing demand to see Dogecoin listed on the Binance trading platform. Despite ongoing inquiries from the DOGE community, it seems Binance couldn’t care less about Dogecoin, for some unknown reason. Adding this currency would certainly result in a fair bit of liquidity, which benefits any cryptocurrency trading platform.

All things considered, it seems Dogecoin will be able to maintain the current price levels without any real problems. The $0.002 level appears solid, as does the 52 Satoshi support. However, if Bitcoin were to turn mega bearish, Dogecoin will not be able to escape the negative trend unscathed either. A few interesting hours and days are ahead in this regard.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

Publication date: 
03/14/2019 - 02:00
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