Price Analysis

Dogecoin Price Still Sustains $0.3 Levels, Is A Skyrocket Jump Incoming?

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Highlights

    Dogecoin price despite a couple of huge pullbacks, successfully sustains above $0.3 levels

    The possibility of a massive jump after the current consolidation cannot be ruled out

Dogecoin price attempted to pump over $0.43 after a dreadful market crash. Yet woefully, the price revisited the lower levels around $0.24. No doubt the price bounced above $0.3 and ranged above $0.37, yet plummeted slightly. Moreover it maintained the similar trend above $0.3 since then.

Despite a couple of pullbacks, the price successfully sustained above these levels and at the press time has swelled to $0.31. Yet the price is steadily moving forward without forming any patterns. Hence the price may rally high once the price is done with the accumulation. 

Also Read:Polygon(MATIC) Price Dips! Will The Rally Continue Towards North?

doge chart

Currently, DOGE price maintains a stable channel where-in price is trending at the upper levels of the channel. Despite a huge dip, the price failed to break the lower support levels of the channel. Hence increasing the probability of a massive uptrend approaching fast in the near future. 

On the contrary, despite a slight dip in the current market capitalization, the trading volume has increased significantly by about 23.56%. This increased activity suggests the popularity of the asset has not diminished despite the crash or negative sentiments.

At the press time the DOGE price stands at $0.3139, heading strongly towards the upper levels of the channel at $0.34. Once the channel is broken, the price is expected to propel towards the resistance levels at $0.372. However, in the worst case, if the price flips to bearish trap, it may revisit lower levels below $0.3 around $0.29. 

Also Read: Bitcoin Price May Reach More Lows, If It Fails To Maintain These Levels!

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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