Dogecoin Rallies While Making New Highs Following Bullish Trend

For March 1, 2022, the dogecoin price analysis shows that the meme coin has continued to follow a downward trend. It has major resistance at $0.14. According to CoinMarketCap, Dogecoin’s trading volume has increased by 33.16% in the last 24 hours. The market cap of the coin has also gained a significant rise. The daily candle for the dogecoin shows that its price reached a high of $0.1345 and a low of $0.1297.The dogecoin’s price can be concluded on a positive note due to its bullish MACD line, which indicates that the altcoin might regain its upward momentum. The RSI indicator of the dogecoin shows that the bears are still in control and might cause lower prices in the coming days. Although the dogecoin price can be concluded on a positive note, it is still important to note that the coin needs to recover from its current price to confirm an uptrend. Dogecoin is a cryptocurrency based on the popular “Doge” Internet meme. Created by Jackson Palmer and Billy Markus, it was forked from Litecoin in 2013. Its creators believed that it could appeal to a wider variety of users than Bitcoin.