Dogecoin tried to catch massive investors' attention when Ukraine asked for a donation for the current Ukraine- Russia crisis. Ukraine’s vice prime minister Mykhailo Fedorov tweeted with the country’s official DOGE address to transfer funds. However, the announcement failed to show a price surge in the technical analysis Dogecoin, where the current price is still heading lower within a bearish trend.
Dogecoin is a meme coin that came with Shiba Inu on its logo. This open-source digital currency was created by Billy Markus with his team from the Litecoin fork. Although this coin was made as fun, it caught investors’ attention as soon as the Tesla CEO featured it on social media. Moreover, the Dogecoin foundation was formed to support and govern the crypto project. After being inactive for several years, the foundation was relaunched to support the ecosystem and promote the blockchain.
Being a meme coin, One of the valuable factors for Dogecoin is its return on investment, which is very high. Since its formation, Dogecoin has provided 55,000% gain to investors where last 1 year’s gain is still at 167%. The current circulation supply of this token is 132.67B DOGE, while the trading volume of the last 24 hours showed a 17.54% increase to $606,540,083.
Let’s see the Dogecoin (DOGE) price prediction from the Doge Price Prediction Today.
Dogecoin (DOGE) May Test The 0.10 Key Level Before Moving Up
In the DOGE/USDT daily chart, the price showed a massive selling pressure after multiple failures to make a new sign high. Moreover, the recent bearish rejection from 0.1727 resistance level with a new swing low at 0.1067 opened the room for testing the 0.1000 psychological number.
The above technical analysis showed how the price tested the dynamic 20 EMA in the daily chart and formed a bearish rejection candle. However, the MACD Histogram remained bullish but failed to show strong momentum. Therefore, as the price already showed a bearish pressure from the dynamic 20 EMA, any new MACD Histogram below the neutral line would be a potential bearish opportunity in this pair.
Based on the daily dogecoin price prediction chart, the selling pressure is solid in this pair, where the price is likely to test the 0.1000 key level in the coming days. On the other hand, bulls may regain momentum if the price rebounds higher and forms a daily candle above the dynamic 20 EMA. In the dogecoin future price prediction, the price may test the 0.1727 resistance level before aiming higher.
DOGE/USDT Ichimoku Cloud Analysis
According to the Ichimoku cloud analysis, the DOGE/USDT price trend is bearish, whereas the most recent price showed a sign of volatility. Bulls tried to regain the momentum, but the price failed to hold the momentum above the 0.1372 static resistance level. As a result, the future cloud has turned bearish, where the Lagging Span is yet to move below the price level.
The above technical analysis shows the TDI (traders dynamic index) moved to the lower band, indicating that bears are more aggressive in this market. Moreover, there is a bearish crossover in dynamic Tenkan Sen and Kijun Sen, where the price is likely to move below the 0.1205 static support level.
In the dogecoin latest price prediction, investors should find the price below 0.1205 with a bearish H4 close to considering the upcoming price direction as bearish with the target of 0.100 level. The alternative approach is to wait for a rebound and a bullish H4 close above the 0.1375 to consider the upcoming price direction as bullish.
DOGE/USDT Intraday Price Action Analysis
According to the H4 price action, the DOGE/USDT market trend is bearish, where the most recent bearish pressure from the bullish channel opens rooms for further downside pressure.
The above technical analysis shows that MACD Histogram is making new lows with a solid selling pressure while the current price is trading below dynamic 20 EMA. The intraday high volume selling level also formed lower lows, indicating that bears are still interested in selling this instrument at a lower price.
In this context, any bearish rejection from dynamic weekly VWAP has a higher possibility of increasing the selling pressure in the price where the ultimate target is 0.100 level. Moreover, a bearish H4 close below 0.1205 would increase the selling pressure, followed by the broader selling pressure.
Is Dogecoin (DOGE) A Buy?
According to the Dogecoin long-term price prediction, DOGE/USDT bulls should wait for the price to test the 0.100 key support level before showing a buying pressure. As the dogecoin realistic price prediction, any bearish H4 candle below 0.1200 would increase the bearish possibility where the primary target would be 0.100 level.