Skip to content
All about investing. — All about finance.

Dogecoin encounters a 20% plunge; nonetheless, three signs hint at a significant surge for DOGE!

Dogecoin (DOGE) exhibits indications of a possible trend inversion, bolstered by bullish divergence and robust historical backing.

,   and  Administrator
3 min read
Dogecoin plummets by 20% - Yet, three indicators suggest a substantial rise for DOGE!
Dogecoin plummets by 20% - Yet, three indicators suggest a substantial rise for DOGE!

Dogecoin encounters a 20% plunge; nonetheless, three signs hint at a significant surge for DOGE!

Buckle Up: Dogecoin Could Be Setting Its Sights on a Moonshot

  • Share
  • Let's dish it!
  • Price action suggests DOGE could take a ride to $0.20 - but for that, it needs to keep its head above $0.164.

Dogecoin (DOGE) is no stranger to a rollercoaster ride, and it looks like it's gearing up for another wild ride.

Currently trading at $0.169, the once-joke cryptocurrency has been undergoing a sustained downturn, falling 20% from recent highs. Yet, the technical structure hints at a possible bounce, thanks to an intriguing bullish divergence.

A tug-of-war between support and resistance – where will DOGE land?

You know how it goes – every heroes' journey requires a test. For Dogecoin, the latest one is a familiar support zone, where the price has historically shown a penchant for turning the tide. If DOGE can hang on to this support, it could gain an additional 18% and break through the $0.20 mark.

However, even as bullish expectations surface, it's important to remember that DOGE remains below its 200-day Exponential Moving Average (EMA). Breaking above that crucial level is a necessity for sustaining a larger bull trend.

Here's the thing: Since April 2025, DOGE has found itself at this level at least thrice, and each time it resulted in a price reversal[1]. The latest time, don't be surprised if history repeats itself.

When the RSI and DOGE make friends – a sign of a potential rebound?

The Relative Strength Index (RSI) has formed a higher low in the daily chart while DOGE has made a lower low. Like two old pals catching up, this bullish divergence may be the harbinger of an upcoming price surge, providing the buying pressure returns[1].

Listen, I know things are looking grim right now, but with such intriguing technicalities at play, DOGE enthusiasts have reason to toast to the possibility of a moonshot back up. We're talking $0.60 here, people[2].

Social media buzzing with confidant predictions

Analysts are feeling bullish, and mainstream audiences are catching on[3]. On X (formerly Twitter), optimism is bursting forth:

  • "I am long DOGE. This is a HUGE area of accumulation on the way to $0.60."
  • "Watching DOGE closely. Seems ready for a massive breakout. Y'all better be hodling cause we're going to the moon(!)"

These positive sentiments reflect a growing interest in the meme coin, and many analysts believe DOGE could soon experience a breakthrough[3].

DOGE-tastic accumulation

Recent exchange data reveals that a whopping $31.4 million worth of DOGE has left exchanges, suggesting investors and long-term holders are jumping on the bandwagon[4]. This accumulation activity spotlights potential future buying pressure, driving up the price of DOGE.

Combined with bullish technical patterns, this increased buying pressure could boost the already optimistic outlook for Dogecoin. Let's hope Lady Luck shines on the meme coin once more!

Source:[Various Sources]

Enrichment Data:Dogecoin (DOGE) is showing signs of a possible revival after a bearish stint, with several positive factors pointing towards an uptrend. With expert predictions projecting gains of up to 300%, exchanges witnessing a multimillion-dollar outflow of DOGE, and historical price trends indicating a surge of up to 35% in the short term, DOGE looks primed for another illustrious run.

  1. Dogecoin's current struggles, trading at $0.169, might just be the last hurdle before a potential surge up to $0.20, provided it can hold onto its existing support.
  2. Even as the RSI and DOGE show a bullish divergence, Dogecoin's price remains below its 200-day Exponential Moving Average (EMA), a level that DOGE has historically had a harder time breaching.
  3. The recent accumulation of $31.4 million worth of DOGE off exchanges indicates that investors and long-term holders are betting on a price increase.
  4. The technical structure of Dogecoin and the recent accumulation activity suggest a possible bounce, fueling optimistic predictions of up to 300% gains for the meme coin.
  5. Analysts and mainstream audiences on X (formerly Twitter) are increasingly positive about Dogecoin's future, hinting at a potential return of the meme coin's bullish trend.

Read also:

    Related

    Latest