Dogecoin price analysis: DOGE struggles at $0.23 as trading volume dips 40 percent

TL;DR Breakdown Dogecoin consolidates above $0.23 in anticipation of a bullish rallyHowever, controversy surrounding Coinseed Inc. has put DOGE price in jeopardy as sellers look to take controlFurther retracement expected before the next push towards $0.30 kicks in Dogecoin price analysis suggests that the meme cryptocurrency has to hold plans for the next uptrend in price. As price recovers and consolidates above $0.23 support level, trading volume has dipped near 40 percent on the intra-day trade. This can be linked to controversy surrounding Dogecoin and Coinseed Inc., a cryptocurrency exchange that was shut down by New York Attorney General Letita James. The reason behind came as Coinseed converted customers’ funds into Dogecoin and allegedly violated the Martin Act. Over the past 24 hours, Dogecoin price has been oscillating between a narrow range of $0.236 and $0.243, suggesting price is facing consolidation after last week’s decline. Trading volume shows a worrying sign for DOGE bulls, as it dropped near 40 percent, suggesting there is very little momentum in the market. Dogecoin price went up almost 1 percent over the past 24 hours, following a positive day trade for the larger cryptocurrency market. The largest cryptocurrency Bitcoin was up around 2 percent, moving past $47,500, with Ethereum also increasing 2 percent to sit above 3,400. Altcoins show incremental gains as well, with Ripple moving up 1.5...