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Dogecoin Dips 2.8% to $0.18 – How to Buy DOGE

dogecoin (DOGE) elon musk snl
dogecoin (DOGE) elon musk snl

Dogecoin has not been spared from the ongoing slump in the crypto market. The most popular meme coin is currently headed towards a decline to lower levels. Currently, it looks like Elon Musk is no longer playing his role of influencing DOGE prices, hence the overwhelming dip from its all-time high.

Dogecoin is trading at $0.18 at the time of writing after a 2.8% decline in 24 hours.

Dogecoin Price Analysis

Dogecoin Price Analysis July 19
Source: TradingView

Dogecoin’s price movements in the past few days indicate there is mild volatility, with the coin trading between $0.169 and $0.19. Over the past weeks, dogecoin’s price movement has been bearish, with no significant gains being seen.

Last week, dogecoin left the $0.20 support level and retreated towards the $0.165 support level. However, dogecoin has not gone below this support, but with bears still in play, a retreat to this level could happen soon.

Reaching $0.165 could trigger a rally from traders who are accumulating holdings during the dip. However, bears will regain control; hence we will see dogecoin consolidating around $0.18.

Breaking past $0.20 is currently difficult for dogecoin because support from the broader market is lacking. However, such a rally is not impossible, and with market developments, we could see dogecoin resuming an uptrend to higher levels.

Elon Musk has remained conspicuously quiet about the crypto market for a while. However, the Tesla CEO broke that silence on July 18 when he showed more support for dogecoin. The CEO updated his Twitter profile picture with his face and DOGE sunglasses. The action rallied dogecoin towards $0.20.

The Musk effect led to a 10% spike in dogecoin’s prices, but the coin could not hold that level and retreated to the $0.18 support. This could indicate that the Musk effect is no longer as strong as it used to be.

Where to Buy DOGE

To buy dogecoin during the current dip, you need to create a cryptocurrency exchange account on a reputable platform. One of the reputable platforms where you can buy dogecoin is eToro. eToro is one of the leading exchanges, and it offers a wide range of features among them copy trading and user-friendliness. eToro also charges low trading fees and supports a variety of cryptocurrencies and trading pairs.

Looking to buy or trade Dogecoin (DOGE) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provide.

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