Dogecoin (DOGE) Price Watch: Daily Technical Analysis Report (DOGE-BTC) for 8 June 2023

Introduction Dogecoin (DOGE) is a popular cryptocurrency known for its unique branding and active community. In this daily technical analysis report, we will examine key indicators and interpret their values to provide insights into Dogecoin's potential price targets. Current Price: 0.0000026 BTC (unchanged) (as of 4:45 a.m.

Timeline of Dogecoin

Shina Inu (CRYPTO: SHIB) was sliding about 3.5% lower during Wednesday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE) and much of the crypto sector. The bears were attempting to break Shiba Inu down from a double inside bar pattern, but having some difficulty due to lower-than-average volume.

Dogecoin (DOGE) price is down 10% from a month ago. After the price slipped to a new 2023 bottom on Monday, DOGE long-term investors held firm as they looked to avoid booking historic losses.

XRP, Dogecoin and several other cryptocurrencies are posting a rebound after the market witnessed selling pressure yesterday and the day before as a result of the SEC lawsuits against the two biggest exchanges, Coinbase and Binance.

Meme coins inspired by the Securities Exchange Commission (SEC) and its chair Gary Gensler have gained significant momentum, beating Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe coin (CRYPTO: PEPE) in gains over the last 24 hours. What Happened: Following the SEC's recent lawsuits against crypto exchanges Coinbase Inc (NASDAQ:COIN) and Binance, a number of meme coins saw a sharp increase in price.

Dogecoin Price Analysis: For nearly a month, the Dogecoin price witnessed a sideways trend between the $0.075 and $0.069 levels responding to broader market uncertainty. However, with the recent sell-off in the crypto market, the range formation resulted in the sellers' favor as the price plunged below $0.069.

Dogecoin was one of the biggest losers in crypto markets on Tuesday, as markets continued to react to the United States Securities and Exchange Commission (SEC) suing Binance and Coinbase. The global cryptocurrency market lost nearly 4% of its value in today's session. Solana was another notable mover, falling by 9% today.

In the midst of the SEC's lawsuit against Coinbase, industry experts and prominent figures have shared their opinions on the matter. Pierre Rochard, vice president of research at Riot Platforms, suggested that Coinbase refocus its attention on Bitcoin.

Twitter CEO Elon Musk has just shilled his favorite digital currency Dogecoin (DOGE) to his more than 142.3 million followers on the social media platform. Elon Musk who is known as the biggest advocate of the industry's first memecoin joined a conversation that was brought to the fore by Pierre Rochard, the VP of Research

Dogecoin has plunged more than 7% during the past day as data shows that whales have made some large movements. Dogecoin Whales Move Large Amounts On The Chain According to data from the cryptocurrency transaction tracker service Whale Alert, five large transactions have been spotted on the DOGE blockchain during the last 24 hours.

Following the Securities and Exchange Commission's (SEC) Monday charges against Binance and its founder Changpeng Zhao for alleged securities violations, well-known figures within the cryptocurrency community have taken to Twitter to respond. What Happened: Former Twitter CEO Jack Dorsey tweeted “Steady lads” in response to Zhao's tweet which read “Strong together.