Doge Price Prediction:

The price of the infamous meme coin, Dogecoin, validates the pessimistic bias assessment from last month. Traders are compelled to wonder where the bears will aim for the sell-off now that it has started.

The price of the most popular dog currency in the world, dogecoin, has verified the alarming technicals published earlier this month. It is down 15% from the previous week. Smaller-scale trends are negative, and the most recent Federal Reserve (Fed) meeting’s hawkish stance suggests risk assets are particularly exposed. The price of Dogecoin may return to the $0.060 region if the bears get their way.

At the time of writing, the price of dogecoin is $0.075. DOGE appears to be barely above important liquidity zones that were set up on November 9 and November 23. The bulls’ efforts to project DOGE to higher price levels were effective on both days.

The low point of $0.070 on November 9 sparked a 45% rally into the $0.094 region. Bulls made a higher low on November 23 at $0.071, sparking a 56% rally that led to the $0.110 region a few days later.

The DOGE price fluctuates between the 100-day and 200-day simple moving averages at the time of writing (SMA). Smaller time frames are coiling, indicating that DOGE will shortly make another big move. Bearish goals of $0.060 and $0.051 could be reached if there is a break below $0.071 that triggers a freefall sweep-the-lows event. The price of Dogecoin will fall by 30% if the bears are successful.

Since the price of Dogecoin has not yet broken through the crucial $0.070 level of support, traders should keep the possibility of a positive alternate scenario in mind. The 50-day version at $0.0972 could be the target of a countertrend rise if the 100-day SMA at $0.076 is breached. If the bulls prevail, the price of DOGE will increase by 20%.

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