Dogecoin (DOGE) Price Extends Its Rebound After Declining for Three Consecutive Days

According to IntoTheBlock data, dog-themed cryptocurrency Dogecoin (DOGE) has seen a 32% surge in daily active addresses over the last 24 hours.

Dogecoin (DOGE) price is up over 2% in the last 24 hours as it extends its rebound from last week's lows. However, DOGE price now faces resistance at the daily SMA 50, which could halt its immediate upside.

Key Takeaways

DOGE price rose 32% in the last 24 hours.

Daily active addresses surged to 55,444.

DOGE price faces resistance at the daily SMA 50.

Dogecoin price was trading at $0.101 on Saturday, up 2.10% in the last 24 hours and 6.23% in the past week. DOGE price hit intraday highs of $0.102 in the last 24 hours.

However, DOGE price now faces resistance at the daily SMA 50, which is currently at $0.115. If buyers can push the price above this level, DOGE price could gain momentum and reach the daily SMA 200 at $0.136.

A break above the daily moving average might kick-start a fresh uptrend for the Dogecoin price. On the downside, if the price falls below $0.10, it could indicate that bears are attempting to gain control.

There is little support at $0.09, but if this level fails to hold, the next halt will most likely be the support at $0.08.

Dogecoin Core 1.14.8 Release

In the past week, Dogecoin Core 1.14.8 was released, which includes important network code updates. The minor version release also included important bug fixes to the networking code.

The Dogecoin Core 1.14.8 release also includes several new features, such as the ability to set custom transaction fees and a new mempool visualization tool.

Overall, the Dogecoin Core 1.14.8 release is a significant update that will improve the performance, stability, and usability of the Dogecoin network.

Dogecoin Price Analysis

DOGE price is up over 2% in the last 24 hours as it extends its rebound from last week's lows. However, DOGE price now faces resistance at the daily SMA 50, which could halt its immediate upside.

On the downside, support is seen at the daily SMA 200, which is currently at $0.08. If this level fails to hold, the next support is seen at $0.06.

Technical Analysis Summary

Immediate Resistance: $0.115

Immediate Support: $0.10, $0.09

Relative Strength Index (48): Bearish

Bollinger Bands: Price is in the lower Bollinger Band, indicating bearish momentum