Dogecoin may have been slumbering for the past month. However, A popular crypto trader says that DOGE needs to break through one critical price level before it can surge upwards.
Dogecoin Price Analysis
The price of Dogecoin has been very volatile in recent months, with two major bounces off support levels. The coin is currently trading at $0.272 and has seen a 22% rise in the last 30 days.
The Dogecoin price has been on quite the rollercoaster ride this past month. This cryptocurrency first broke through its $0.226 support level twice over, followed by an increase of roughly 22%.
However, volatility returned just days ago, as can be seen with all these incredible ups and downs in between.
Dogecoin value is stuck in a tight range, and it seems like there’s no end to the consolidation. The price remains stagnant between $0.226 and $0.343 levels for now – with any movement anticipated when it break through that current sticking point.
Dogecoin Price Prediction
The recent drop in Dogecoin’s price is likely to be temporary, with the value expected to exceed $0.343 within the short term, as predicted by FxStreet. So according to them, “Therefore, market participants can expect a 25% ascent shortly for the Dogecoin price”.
Furthermore, The bears have the momentum at this point, but if Dogecoin can hold its ground and continue to climb higher, we could see a return of bullish trends.
The all-time high of DOGE’s value has been in sight for some time now, and many investors are starting to take notice. The price will bounce back as more people target this milestone that is sure not only interesting but also lucrative.
A drop below $0.25 will invalidate the bullish view, but an increase above that level is not impossible as investors look towards an all-time high of $0.3392.