Convergence

Memecoin

Dogecoin

Divergence

The post <a href="https://coinpedia.org/price-analysis/dogecoin-could-hit-0-1-soon-doge-to-the-moon/" rel="noopener noreferrer nofollow">Dogecoin Could Hit $0.1 Soon! DOGE To The Moon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The market leader, Bitcoin price, successfully broke out of its resistance level of $44,000 during the early trading hours today, resulting in a market pump. The Memecoin category leader, Dogecoin, has recorded a jump of 10% in value within the past day, highlighting the possibility of achieving $0.1 soon.
The <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">DOGE price</a> traded in a consolidated range between $0.06562 and $0.07129 for twelve days, following which the market gained momentum and the price broke out of the range.
The rally was short-lived as the Memecoin faced rejection at $0.07675, after which the price traded sideways for a while, followed by a breakout in its price.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/m6N3feBtN0iWlZ_4OKe-LNR1yKIfPUFBF3km18n4sXwrs1K4GWXVSU3CfsNWCO65Cn0EAEo-hgBzgtdDP2Clnwh9slMy0jDFVzZGVGQjz4Tlii0JQqNlUudi4e3PQEjI5LunKUMwVquSKGsKra--IbE" alt="Dogecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: DOGE/USDT
 </figcaption>
</figure>
After recording a jump of 12%, the Doge price faced restriction at $0.08039. Dogecoin then displayed significant price volatility in its chart for a week. During this period, the price constantly bounced between $0.07129 and $0.08677.
Following the third failed attempt to break down its crucial support level of $0.07129, the bulls regained power and recorded a jump of 8% in value. The price then traded in a closed space between $0.07675 and $0.08039 for a while.
Dogecoin price then displayed a constant rise in its chart till $0.08677, where it faced minor fluctuation in its value. The bulls held the price strong at that level, resulting in a bounce back.
Recently, the price successfully broke out of its key resistance level at $0.09497, indicating a rising bullish sentiment in the market. Further, Dogecoin heads toward its target price of $0.1, of which the outcome is uncertain.
<h2 class="wp-block-heading" id="h-will-the-doge-price-hit-0-1-soon">Will The DOGE Price Hit $0.1 Soon?</h2>
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating an increased buying-over-selling pressure in the market. Further, the averages show a sharp rise, suggesting the price to continue gaining value this week.
If the bulls continue to gain power, the price will test its target price of $0.1 today. If the market maintains the price at that level, it will continue to rise and attempt to test its upper resistance level of $0.1050 by the week ahead.
Conversely, if the bears overpowered the bulls, the price will lose momentum and fall to test its support level of $0.09497 soon. Moreover, if a trend reversal occurs, the DOGE price will experience a plunge in its value and prepare to test its lower support level of $0.08677 in the coming days.

Dogecoin Could Hit $0.1 Soon! DOGE To The Moon?

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