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DOGE Price Analysis for February 1

Wed, 02/01/2023 - 19:00
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Denys Serhiichuk
How powerful is DOGE against other coins?
DOGE Price Analysis for February 1
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Even though the day has started with bulls' dominance, some coins have come back to the red zone by the end of the day.

Top coins by CoinMarketCap


DOGE is one of the biggest losers today, falling by almost 2% over the last 24 hours.

DOGE/USD chart byTradingView

On the local time frame, the price is trading near the support level after the false breakout of the resistance at $0.09299. If the situation remains the same until the end of the day, the drop may lead to a test of the $0.089 zone tomorrow.

DOGE/USD chart byTradingView

On the daily chart, bears might have seized the initiative as the rate of DOGE could not continue yesterday's rise. However, there are low chances to see a midterm decline as the selling volume is low.

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In this regard, the meme coin might enter the consolidation phase ($0.085-$0.095) until mid-February to accumulate energy for a further sharp move.

DOGE/USD chart byTradingView

On the weekly time frame, one should pay attention to the level at $0.09555. The price has made a false breakout of it, however, the candle has not closed yet. If the price gets back to it, the upward move may continue to the resistance zone around $0.1.

DOGE is trading at $0.09038 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at