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The new year has started with ongoing bear pressure, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has dropped by 1.04% over the last 24 hours.

On the hourly chart, the price of DOGE might have found a local support level at $0.3119. If bulls' pressure continues, one can expect a test of the resistance by tomorrow.

On the bigger time frame, neither side has seized the initiative yet. The rate of the meme coin is far from the main levels. Such a statement is also confirmed by the falling volume.

In this case, sharp ups or downs are unlikely to happen.

From the midterm point of view, the situation is quite similar. The price of DOGE has not accumulated enough energy for growth or a fall.

DOGE is trading at $0.3175 at press time.