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Benzinga
Benzinga
Business
Melanie Schaffer

Here's How Dogecoin May Be Signaling A Reversal

Dogecoin Crypto

Dogecoin (CRYPTO: DOGE) was trading down more than 5% on Monday in consolidation, after seeing whipsaw action between May 9 and May 13, which caused the crypto to plummet almost 48% to the $0.064 mark before bouncing up back up over the 8-cent mark on May 12.

The Shiba Inu-themed crypto is currently trading in a downtrend, although that might be set to change because on Sunday and Monday Dogecoin was finding support at the $0.085 mark and forming hammer candlesticks above that level.

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