Dogecoin Price Prediction as DOGE Falls Below $0.15 – Is DOGE Going to $0.01?
The Dogecoin price has fallen by 3% in the past 24 hours, with its drop below $0.15 coming as the crypto market barely moves today.
Despite this loss, DOGE has actually risen by 2.5% in the past hour, in line with the rest of the market, which is compensating a little for yesterday’s losses.
This means the Dogecoin price has now dropped 24% in a week, but remains up by 16% in a month and by 60% in a year.
The last hour’s bounce also raises the possibility that the market has bottomed and is now entering a recovery, something which could see DOGE make further gains soon enough.
After suffering over the past week, DOGE is showing increasing signs of a recovery, with its indicators bottoming out and beginning to rise again.
Most notably, DOGE’s relative strength index (purple) has jumped from 30 earlier this morning to just over 50 now, and it looks like it should continue for a while yet.
At the same time, the coin’s 30-day average (orange) has flattened out after a period of consistent declines, indicating that it had entered an oversold position and is now ready to rise again.
We haven’t seen a pronounced spike in trading volume just yet, but with the coin now rising vigorously more buyers could soon follow.
It’s likely that DOGE had fallen by so much that investors and traders could no longer pass on the opportunity to buy it at a discount.
It’s also possible that today could be the beginning of a pre-Bitcoin halving rally, although some analysts have warned that financial pressure on miners could force a damaging selloff.
However, given that the market has declined markedly over the past week, such a selloff may have already happened.
This means that the market is now ready to recover while bringing the Dogecoin price along for
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