DOGE Mining Revenue Drops Heavily In Past 12 Months: Report

The DOGE mining revenue drops heavily in the past 12 months as the coin continues to drop as it failed to retain support at the $0.08 level as we can see more today in our latest Dogecoin news.

The bad news is that DOGE can continue falling as the bears seem to have bypassed the structure which latched on hard around the previous month. With the structure breached, the bears could pump in more capital to earn more from the DOGE drop and the bearish candle is falling head first which boosts the confidence of traders to go all-in with the bearish stance.

DOGE’s price now sits at $0.075 and a pause is expected before going for a bull run in $0.072 but the bearish outlook will remain until the liquidity at the $0.068 is driven out. Another indicator of a bearish control is that the DOGE price was not able to get through the RSI level of 40. Despite DOGE being down by 89.50% from its ATH, it seems that it jumped by 12.78% from the cycle low and hovering around $0.07. Regardless of the improvement, DOGE mining revenue is down at 76.2% in the past year and made the popular meme coin one of the less profitable mining options around as per the data aggregation site CryptoRank.

A drop of 70% in mining profitability is not impressive for the traders so can this trend be exhausted anytime soon? DOGE’s price dropped dramatically by 3.48% in the past week and was changing hands at $0.077 so after the meme token dropped on May 11, DOGE was in a tight trading range. The indicators pointed towards a bearish trend and the RSI lounged under the neutral point or going southbound as of the time of writing. In the meantime, the volatility of DOGE is at 88.28% in the past months and all of this indicates that there’s no trend exhaustion coming.

The DOGE mining revenue dropped and investors should look at the volume before making long bets. There has been a free fall which indicated a low buying and selling activity and the investor interest waned for a couple of weeks. The social dominance metric sits at 4.88% which indicated that social media power is at play here and people still talk about the meme coin.