Dogecoin price analysis: DOGE loses inflated value at $0.1232

Dogecoin price analysis for November 6, 2022, shows the meme cryptocurrency following a declining movement for the last 48 hours. The price spiked from $0.1186 to $0.1353 on November 5, 2022.

Timeline of Dogecoin

Twitter and its new owner, billionaire and Tesla CEO Elon Musk, is currently under fire following a decision that will effectively make the social media platform a dubious source of information – or so detractors of the social media giant under new management says.

Dogecoin price prediction remains bullish above the $0.1200 level, which is being extended by 38.2% Fibonacci retracements. Since Elon Musk acquired control of Twitter a month ago, Dogecoin has been one of the top-performing cryptocurrencies. 

After finding a bullish volatile break, Dogecoin witnessed a bullish pattern on its daily chart. DOGE's Open Interest in the past 24 hours corroborated with the increased bullishness.

Dogecoin price analysis shows an encouraging 4 percent increment from trade over the past 24 hours. Price lowered down to $0.116 yesterday, before making a move up to $0.135 today to consolidate above the $0.11 support.

Dogecoin, the king of meme coins, has been one of the best performing crypto assets during the last 30 days and ever since Elon Musk took over Twitter. Statistics show that dogecoin has risen 116.3% against the U.S.

Dogecoin is currently changing hands at a price that is significantly lower than its six-month high of $0.1572, providing an opportunity for investors to take advantage of a huge discount for accumulation. Dogecoin went down by 11% following news of Twitter's plans to halt crypto integration projects DOGE managed to bounce back over the last 24 hours, going up by almost 7% The asset is looking at $0.136 as crucial point for further price surge According to tracking from Coingecko, the dog-themed crypto is trading at $0.1304 as it increased by 6.7% over the last 24 hours.

Cryptocurrency analyst and trader Justin Bennett have said that the slightly higher unemployment rate in the U.S. should be bearish for the U.S. Dollar Index (DXY) and bullish for the crypto market. During a recent interaction on Twitter, he said that Dogecoin's (CRYPTO: DOGE) performance shows bullish signs.

Dogecoin, Shiba Inu price prediction- The bull run continued in the crypto market and pushed the major cryptocurrencies to higher ground. At 9:15 am EST Saturday, the global crypto market stood at $1.06 Trillion, a 2.18% rise over yesterday.

Dogecoin (DOGE) Wallet Activity: In an interesting move, a mysterious Dogecoin (DOGE) wallet transferred assets after a gap of around nine years. Interestingly, the memecoin transfer coincided with Elon Musk Twitter takeover earlier in the week.

 DOGE's price fails to rally high as the price continues to stall in its price movement despite the market looking green across boards.   DOGE's price continues to trend above key support as the price tries to build more strength to overcome this area of resistance that has held the price from rallying.