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Benzinga
Benzinga
Business
Melanie Schaffer

Why Dogecoin Could Rally After The Next Dip; A Double-Digit Percent Bounce May Be Coming

Dogecoin Crypto Bitcoin Ethereum

Dogecoin (CRYPTO: DOGE) was trading over 5% lower on Wednesday in tandem with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were down over 4% and almost 6%, respectively, amid a bearish day in the general markets.

Dogecoin’s volume has been increasing over the past four 24-hour trading sessions, which indicates interest may be returning to the crypto, although unfortunately for the bulls, the bears are gripping control.

The crypto may be headed for another dip over the coming days, but if Dogecoin falls lower, a bounce is likely to become imminent because crypto’s relative strength index (RSI) has been hovering between 26% and 34% since May 9.

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