Dogecoin Struggling Again, Hits 3-Week Low

Dogecoin (DOGE) has slid back below 60 satoshi, falling as low as 55 this weekend, its lowest point in three weeks.

Dogecoin (DOGE) has slid back below 60 satoshi, falling as low as 55 this weekend, its lowest point in three weeks. It has since recovered slightly to 57 satoshi ($0.000194).

DOGE has had a poor showing in December thus far, continuing its fall from a peak of 75 satoshi reached in late November, which was a five-week high at the time.

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Neither good feelings from its first birthday nor the prospect of its acceptance on reddit have been enough to stem the slide, which has maintained a similar profile to that of bitcoin’s.

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A lower bitcoin value effectively compounds DOGE’s losses in dollar terms as well, leaving it near 2014 lows.

Like bitcoin, DOGE has slipped back well below its 50-day moving average (MA), now at 63 satoshi after having finally reconquered this level when peaking in late November.

The 200-day MA is also not painting the most promising picture. Currently equal to 53 satoshi and still stuck in a steady state of decline since March, DOGE risks falling below this long-term measure for the first time in over three weeks.

The 54 satoshi support level, however, has been valiantly serving as the last line of defense of September’s remaining gains. DOGE has not broken this level following that rally, testing it multiple times during the subsequent three months of trade.

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