Shiba

Bitcoin

Dogecoin

Resistance

Shiba Inu

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/lwwbjgmw-e1700572550599.png" class="attachment-full size-full wp-post-image" alt="Doge price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Dogecoin Price Prediction: Amid the current uncertainty in the crypto market, the DOGE price <a href="https://coingape.com/markets/dogecoin-price-prediction-why-doge-recovery-is-set-to-32/">witnessed a sharp reversal</a> from the $0.087 peak, This pullback has tumbled the memcoin’s market value by 13.2% in the last 4 days currently trading at $0.077 mark. However, is this rejection a minor retracement or a change in traders’ sentiment? 
This Dog-themed is likely to remain in news highlights and on investors’ attention as it is set to land on Earth’s moon as <a href="https://coingape.com/astrobotic-to-send-dogecoin-to-the-moon-this-december-doge-price-to-rally/">per the recent announcement</a>. On December 23, 2023, Astrobotic’s Peregrine spacecraft is scheduled to transport physical Dogecoin (DOGE) and Bitcoin (BTC) to the lunar surface. 
<h2 id="b-dogecoin-price-prediction-doge-reverted-from-700-days-resistance-b">Dogecoin Price Prediction: $DOGE Reverted from 700-days Resistance</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A bearish reversal from the upper trendline of the triangle pattern sets the DOGE price for a 25% fall</li> 
 <li style="font-weight: 400;" aria-level="1">The current correction may find suitable support at $0.068</li> 
 <li style="font-weight: 400;" aria-level="1">The 24-hour trading volume in Dogecoin is $6.9 Million, indicating a 21% gain.</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/l/lwwbjgmw.png" alt="Dogecoin Price Prediction" width="1946" height="1104">Source-Tradingview&nbsp; 
The weekly time frame chart shows the <a href="https://coingape.com/price/dogecoin/">Dogecoin price</a> has been trading sideways for over one-and-a-half years under the influence of a symmetrical triangle pattern. The DOGE price has rebounded several times from the upper and lower trendline offering dynamic resistance and support.&nbsp; 
On November 18, the coin price witnessed its latest reversal from the pattern’s upper trendline, which led to a sharp fall to the $0.0050689 mark. The historical data of this pattern shows every retest to the upper trendline has resulted in intensified selling pressure and a sharp fall toward the lower trend line.&nbsp; 
<blockquote>
 Thus, with sustained selling, the DOGE price is poised for a 25% drop and revisits the pattern’s lower trendline around the $0.056 mark.&nbsp;
</blockquote> 
While this near-term projection for this <a href="https://coingape.com/meme-coin/">memecoin</a> seems bearish, the coin holders may witness a prolonged sideways turn until the chart pattern is intact. 
<h2 id="strong-doge-vs-shib-performance-strong">DOGE vs SHIB Performance</h2> 
<img decoding="async" class="aligncenter size-full wp-image-165289" src="https://coingape.com/wp-content/uploads/2023/11/image_2023-11-21_18-36-03-e1700572247120.png" alt="" width="1200" height="675">Source: Coingape| Dogecoin Vs Shiba Inu Price 
The last three months’ price behavior indicates the leading memecoins, DOGE, and SHIB have enjoyed substantial gains during the October-November rally. However, closer inspection suggests that the current market uncertainties have more significantly impacted the <a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a>, as it begins to show a pattern of lower highs, indicating the potential for a larger decline if market sentiment turns bearish. 
<ul> 
 <li aria-level="1">Average Directional Index: The ADX slope recently turned down from a peak of 44%, suggesting a waning of bullish momentum.</li> 
 <li aria-level="1">Exponential Moving Average: The 200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a>, positioned around the $0.069 mark, provides a strong support zone.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/dogecoin-price-prediction-why-doge-is-at-risk-of-25-fall/">Dogecoin Price Prediction: Why $DOGE is at Risk of 25% Fall</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Dogecoin Price Prediction: Why $DOGE is at Risk of 25% Fall

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