Dogecoin Down 7%: What Is Going On?
Posted On October 1, 2024
Dogecoin’s (CRYPTO: DOGE) spike in new addresses prompted traders to predict an upcoming bull run for the meme coin.
What Happened: Crypto trader Lucky stated that Dogecoin has seen a “decent run” in recent times which is expected to continue. He said, “In my opinion dips are for buying and DOGE will have a spectacular season this cycle.”
Benzinga’s technical analysis shows Dogecoin’s Relative Strength Index (RSI) at 63.8, implying the meme coin is in an uptrend.
After a single-day drop of 7%, crypto trader Kevin stated that Dogecoin is currently back testing the macro falling wedge it broke out of a week ago. He sees this as a bullish back test.
Cautioning traders, he said that if …
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