Dogecoin shows buying opportunity as volatility declines
Dogecoin (CRYPTO:DOGE) is presenting a potential buying opportunity as its market volatility has decreased significantly.
Since dropping to a seven-month low of $0.08 on August 5, DOGE has consolidated within a narrow range between $0.09 and $0.10, indicating reduced price swings and a more stable market.
This period of consolidation is marked by DOGE trading within a horizontal channel, where the upper line at $0.10 serves as resistance and the lower line at $0.09 acts as support.
The reduced volatility is further confirmed by key indicators such as the Average True Range (ATR) and Chaikin Volatility, both of which have been on a downtrend since August 8.
The ATR has decreased by 27%, currently standing at 0.0072, while Chaikin Volatility is below its center line at -43.24.
These indicators suggest that DOGE's market activity has calmed, reducing the likelihood of sudden price movements.
Additionally, on-chain data from Santiment highlights that DOGE’s Market Value to Realized Value (MVRV) ratios, assessed over 30-day and 90-day moving averages, are flashing buy signals.
The 30-day MVRV ratio is at -1.11% and the 90-day MVRV ratio is at -15.32%.
When the MVRV ratio is below zero, it suggests that the asset is undervalued, meaning DOGE’s current market price is lower than what holders initially paid, indicating a potential buying opportunity.
If DOGE can break above the $0.10 resistance level with increased buying pressure, its price could climb to $0.11.
However, if traders overlook these signals and market activity remains low, there is a risk that DOGE’s value could decline back to $0.08.
Dogecoin's current price stability and undervalued status make it a coin to watch for potential gains as volatility fades.
At the time of reporting, Dogecoin is priced at $0.104.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP’s 16-Day $3 Surge Sparks Hopes of Breaking All-Time Highs

Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now
Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.
Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral
Share link:In this post: Trump’s economic and diplomatic tensions took over the spotlight at Pope Francis’ funeral. Trump met briefly with Zelenskyy, Macron, and Starmer during the service but made little progress. Trump skipped a second meeting with Zelenskyy and left Rome quickly after the Mass.

Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission
Share link:In this post: Elon Musk called OpenAI restructuring plan the “scam of the century” after experts oppose it. Legal and AI experts have called on Attorneys General of Delaware and California to OpenAI core mission as a non-profit. Concerns about Open AI deviating from its non-profit origins is not limited to Musk.

Trending news
MoreCrypto prices
More








