Dogecoin (DOGE) is currently trading at approximately $0.2257, reflecting a modest increase of 0.0237% over the past 24 hours. The price has experienced fluctuations, with an intraday high of $0.2328 and a low of $0.2188.
In this article, we will look at Dogecoin next target by looking at price chart and technicals.
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Dogecoin Next Target
- Current Price: $0.2257
- 24h Price Change: +0.0237%
- 24h Range: $0.2188 – $0.2328
- Market Cap: Approximately $32.1 billion
- 24h Trading Volume: Approximately $1.57 billion
- Circulating Supply: Approximately 142.7 billion DOGE
There are signs of bullish trend reversal: breakout from Channel Down pattern was followed by Higher Lows and Higher High (above prior upswing high). It’s trading in a Channel Up now. We would enter on pullbacks near Channel support at $0.20, with +25% upside potential back to $0.25 (PT1) or even $0.30 (PT2).
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~38 (approaching oversold territory)
- MACD: Bearish crossover observed
- Support Levels: $0.2160, $0.2107
- Resistance Levels: $0.2345, $0.25
- Current Trend: Sideways with potential for downward movement
📰 Latest Dogecoin News & Developments
- 📉 Price Action
On May 20, DOGE experienced a slight decline, testing key support levels around $0.2160. Technical indicators suggest a bearish trend, with the RSI nearing oversold conditions and the MACD indicating downward momentum. - 📊 On-Chain Activity
Recent data shows a significant increase in Dogecoin network activity, with new addresses rising by over 100% and active addresses increasing by more than 110%. - 🛠️ Regulatory Developments
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on proposed Dogecoin exchange-traded funds (ETFs), citing the need for further review and public input.
📌 Summary
Dogecoin is currently navigating a period of consolidation, with the price stabilizing around $0.2257. Technical indicators suggest potential for further downside, but increased network activity and community engagement may provide support.
👉 Short-Term Forecast: Neutral to slightly bearish, contingent on holding above $0.2160
📉 Risk Factor: Moderate – due to market volatility and regulatory uncertainties
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