Dogecoin Price Halted by $0.10 Ceiling Amid Thin Trading Volume

Dogecoin currently trades at $0.0929, up 0.01 percent over the past 24 hours but down 2.86 percent over the week. It's the only asset among its peers to give back ground over the week, but its performance over the month puts it in the middle of the field.

The 200-day moving average is currently at $0.0878, which is lower than the frequently quoted figure of $0.093. This discrepancy is due to the way different providers calculate the average, with some using hourly data and others an exponentially weighted average.

The $0.10 level is a significant ceiling for Dogecoin, with the price holding back from breaking above it. Since August 1, there have been 66 days in which the price has been below $0.10, and only one of those days saw the price close above it.

Trading volume is thin, with daily turnover standing at a little over 39 percent of the monthly average. This means that smaller orders are moving the price more, and breakouts are less durable when trading is thin.

The liquidation of the Bitwise dogecoin fund, BWOW, is also affecting the market, with the fund converting its dogecoin holdings into cash on October 14 and the remaining shareholders receiving the net asset value of their shares in cash on October 22.

The German government is also introducing a draft bill that would change the tax treatment of exchange crypto assets, which could affect investors in Germany.