Price Analysis

Dogecoin Price Poised To Surge Towards North, How High Will It Rally?

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Dogecoin price, since the past month, is following a very narrow trend and attempting very hard to reach $0.5 levels. After Elon Musk’s SNL repulse, DOGE price plunged mercilessly, draining more than 50% of the price. Since then the price is combating severe FUD and also mounting selling pressure most of the time.

Yet the recent price movements suggest yet another attempt to raise high, climbing towards the initial target at $0.5. After dropping more than 20% in the past couple of days, the price bounced off a support level.However, the dogecoin price may surge again to hit more highs in coming days as said by an analyst.

dogecoin chart

As per the chart posted by the analyst, the price may experience a slight pullback below $0.3 levels to reach $0.278. And further the price might bounce back to hit the targets set at $0.37, $0.47 and finally at $0.58. Interestingly, the analysts hope the target will be achieved in the coming couple of days and hence suggest his followers to buy as the price dipps further. 

The DOGE bulls are planning to make a comeback that could probably push the price close to $0.378 shortly accumulating huge buying pressure. However, it is very important to note that the bullish narrative is valid only if DOGE price sustains strongly above $0.28. If the dogecoin price slides further, then the plunge around $0.25 may be imminent. 

Also Read: Cardano Price May Not Resume Bull Run Soon! Has the Bearish Trend Begun?

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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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