Dogecoin Price Prediction as DOGE is Added to a New Crypto Exchange – Adoption on the Rise?
The price of Dogecoin has fallen by 2% in the past 24 hours, with the meme token dropping to $0.080528 amid a similar dip for the wider market. Its current price means that it has fallen by 5.5% in a week and by 8.5% in the last 30 days, at a time when many other major tokens have enjoyed gains.
However, DOGE's dip today comes in the wake of news that Philippines-based exchange Coins.ph has become the latest platform to list the token. Along with the expectation that Twitter will eventually integrate DOGE-based payments, this news highlights the possibility that the cryptocurrency will sooner or later enjoy some big rallies this year.
DOGE's indicators appear to suggest that the coin needs to fall a little further before a rebound is due. For instance, its relative strength index (purple) has dropped to almost 40, meaning that it still has some way left to drop before it becomes oversold.
At the same time, the coin's 30-day moving average (red) has begun sinking towards its 200-day average (blue), although it will take some more time before it drops below the longer term indicator.
In terms of support levels, a drop below $0.08 could signal further losses, although DOGE hasn't really been below this price since the start of the year.
In other words, DOGE may not fall too far before it begins rising again. And it's not as though the coin is completely lacking in good news, with Coins.ph yesterday becoming only the latest exchange to list the popular meme token.
While such a listing isn't monumental news in and of itself, it nonetheless provides some confirmation that the industry and its players expect DOGE to do well this year. Coins.ph wants to join the ranks of exchanges listing the token because it expects demand for the
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