Hello friends, welcome to the post. Today Here we try to find out Best Buying point for Dogecoin and also try to find that it would about to fall or not after looking to the technical chart of DogeCoin.
Everybody knows Dogecoin was a meme coin started just to troll cryptos but because of FOMO (fear of missing out) effect people started to buy this coin in thought of one day it will also runs like Bitcoin and ethers and other cryptos. And major buying happens in Dogecoin because of Tesla's king Elon Musk's love towards Dogecoin. He openly promoted dogecoin that's why many retailer got to know about this coin and also they have invested on his advice.
Dogecoin made a high of $0.738255 in 8 may 2021 and now it is trading at $0.069572 which is nearly 90% from it's peak price. May be thats is also the reason people is very much angree of him ( Elon Musk ).
And There is also a news came into the market yesterday that said Tesla had sold it's 75% of holding of Bitcoins adding $936 million into their balancesheet. Reason given by them is - company is concern about lockdown in China that's why they want much cash in their balacesheet. Still Elon Musk claims that He is still holding Dogecoin on his account and his view remains the same for it.
Technical Chart of Dogecoin -
Below you can see the Technical chart of Dogecoin, Doge is making a pattern called Asscending Triangle pattern, After the making of this pattern stock is generally gives a breakout from the range. Here also can happend the same only if Doge coin is sustain above it's upper range which is near $0.077820.
But in the chart you can also see that Dogecoin is started to making confusing and bearish candle which shows this is not the time to go long in DogeCoin. But still anyone want to buy this coin then I will advice him\her to buy above 0.077820 only. Let one candle made above this level then onlt think to go long otherwise better to ignore.
