Summary
TLDR: The growth in DOGE holders has stopped after a surge in February. The Relative Strength Index (RSI) has fallen but remains overbought, indicating potential selling pressure. A death cross formation by the Exponential Moving Average (EMA) lines suggests a bearish signal for the DOGE price. This shift in market sentiment raises concerns about future price direction. Strong support at $0.13, but could fall to $0.084. DOGE is influenced by BTC, so a rise in BTC could lead to a rise in DOGE price.
Key Points
1. The growth in DOGE holders ceased after a February surge, with the Relative Strength Index (RSI) falling and remaining overbought, indicating potential selling pressure ahead. Additionally, a death cross formation by the Exponential Moving Average (EMA) lines sends a bearish signal for the DOGE price.
2. DOGE experienced a significant increase in its holder base between January 30 and February 10, adding 500,000 new holders. However, from March 9 through March 18, DOGE holders fluctuated narrowly, indicating a period of stagnation and potential price stabilization or correction.
3. The 7-day Relative Strength Index (RSI) for DOGE has shifted from a high of 81 to 70 in the last two weeks. This adjustment suggests a gentle easing of its bullish momentum, potentially leading to price stabilization or an impending reversal in trend.