Dogecoin price is holding above an important price point after noting a consistent decline for nearly a month the mean coin leader falling to a two-month low triggered significant activity among a particular cohort however their impact on the bigger picture remains rather insignificant Dogecoin price after a 20.89 decline since April 19th Mata swing low to 0.070 over the last four days the meme coin grazed a two-month low before recovering slightly to trade at 0.073 at the time of writing this recovery came after a sudden surge in the velocity of the altcoin which is the rate at which Doge changes hands High Velocity is usually suggestive of an active user base which in the case of Dogecoin is significantly higher since May 11 the change in addresses has increased by 477 percent from 3.2 to 20.8 change in Dogecoin price can be expected when large transactions worth more than one hundred thousand dollars observe fluctuation as that would be a sign of whale activity as for what can be expected from Price action going forward investors should observe some caution since clear signs of recovery are not apparent the moving average convergence Divergence appears to be on the verge of a bullish crossover as the macd line is nearing a crossover the signal line but the relative strength index is still in the bearish zone below the neutral Mark at 50.0 thus for the short term a rise to 0.078 should be the next Target coinciding with the 50-day exponential moving average flipping this level into a support floor could provide some strength to potential recovery
