Dogecoin Price Analysis — September 9

Dogecoin is on track to record its third-consecutive bullish daily candle after bottoming at the $0.0578 mark yesterday.

The recent bottoming aligns neatly with my long-standing bearish tripwire (trendline), highlighting a strong bearish outlook for the meme coin. At press time, DOGE trades at the $0.0635 mark, up by 4.2% today primarily due to the palpable bullish sentiment in the broader market as Bitcoin reclaims $21,000.

That said, a slowdown of this sentiment could mean a return to the tripwire for DOGE at $0.0560. To defeat this bearish bias, the meme coin needs to reclaim the $0.0900 line, a faraway dream at the moment.

Meanwhile, my resistance levels are $0.0700, $0.0800, and $0.0900, and my support levels are $0.0600, $0.0500, and $0.0400.

Total Market Capitalization: $1.04 trillion

Dogecoin Market Capitalization: $8.44 billion

Dogecoin Dominance: 0.8%

Market Rank: #11