Key Takeaways:
- The Dogecoin(DOGE) price closed the previous day’s trade at $0.0634 with a market capitalization of $8.39 billion and a circulating supply of 132.67 billion DOGE
- DOGE price seems to be on its way to test the lower support and hence may plunge by 15% that may trigger the drop of another 12% in September
Dogecoin (DOGE) PRICE & Technical Analysis
| Current Price | $0.062 |
| DOGE Price Prediction for Today | $0.0639 |
| Volatility | 8.77% |
| 50-Day SMA | $.0684 |
| 14 Day RSI | 43.52 |
| Sentiment | Bearish |
| Fear and Greed Index | 23 (Extreme Fear) |
| Green Days | 15/30(50%) |
| 200-Day SMA | $0.0965 |
Dogecoin Technical Analysis for the Month
Dogecoin price is trading above $0.06 presently, but has been heavily bearish for more than a year. Hence it seems to strike the lower support close to $0.05. Presently, the DOGE price is closer to revisiting the yearly lows and also marking new lows in case of extreme bearish pressure. In the coming days, the DOGE price could maintain its trend within the descending triangle throughout the month.
As the peak of the consolidation is pretty distinct, the volatility may be reduced as the volume also has dropped heavily. RSI has been stagnant for a while MACD displays some chances of a notable upswing as the selling volume has eased out. Therefore, the asset may revisit the resistance at around $0.07 but may soon face a rejection to plunge back towards $0.05.
Dogecoin Technical Analysis at a Glance
Dogecoin has been making larger moves but tends to drop heavily below its initial levels later. The asset has flipped from the June lows firmly but failed to clear the resistance at $0.09, post to which the bears have dominated the rally. In the upcoming days, the DOGE price may remain within the bearish captivity and may also drop below the lower support marking the growing dominance of bears.
| Short-Term | The DOGE price somehow managed to rise slightly but soon may shed all its gains |
|---|---|
| Mid-Term | Mid-term forecast is slightly bullish as ease in selling volume has been witnessed |
| Long-Term | The asset has bottomed hard and may rise high above consolidation any time from now |
Additional Read: Dogecoin Technical Analysis
Will DOGE Price Reach $0.08 Today?
The Dogecoin price attempted very hard to mark a bullish close for the day but the price dropped significantly which intensified in the early trading hours. With a very less buying volume, the asset has held the lower support at $0.061 for the past couple of hours. This indicates the bears waiting for the DOGE price to slightly rise so they could extract the profits.
By the end of the day, the price may sustain above $0.061 levels and try hard to surge above $0.063. However, surging above $0.065 may slightly validate minor bullish trends that may assist the price to trade close to $0.07.
Will DOGE Price Reach $1.2 by the End of the Month?
As mentioned before, the DOGE price is trading within a bearish descending triangle, breaking which, the asset is expected to slide down ahead of the lower support. The current support is the last point of defense above $0.05 and hence a breakdown below these levels may add up to another zero in its value.
However, it appears pretty unlikely as the DOGE price during the second half of September may cliche through the lower support & hit $0.0411 to ignite a rebound. With the rebound, the price may mark an upswing towards the crucial resistance at $0.07. Therefore, the Dogecoin price prediction for September is between $0.075 to $0.081.
Dogecoin Price Prediction: Price Trend Comparison with Shiba INU(SHIB)
Source: Tradingview
- Dogecoin & Shiba INU, both are considered as top meme coins aiming to gain supremacy against each other
- DOGE & SHIB price maintained an equal trend until the latter displayed significant strength in mid of August. Since then both the asset are following their respective rallies
- The Shiba INU price rose from average levels tp hit +40% and currently trading at +2.57% after experiencing a steep downfall
- Conversely, Dogecoin price raised high but only could make out until +22% and dropped quickly to trade at around -12.05% at the press time.
Additional Read: Why is Shiba Inu Coin Price Rising today?
Dogecoin Price Prediction: 2022, 2023, 2024, 2025
Dogecoin price appears to be extremely bearish until the end of 2022 yearly trade. While the bulls are expected to jump-in but the bears could continue to maintain their dominance until the market sentiments coil up. Regardless of the probable bearish close this year, the DOGE price could regain the bullish momentum and surge remarkably in the coming years.
| Year | DOGE Price Forecast |
| 2022 | $0.065 to $0.078 |
| 2023 | $0.151 to $0.17 |
| 2024 | $0.30 to $0.35 |
| 2025 | $0.48 to $0.61 |
Additional Read: Dogecoin Price Prediction
Dogecoin News Today
- The Whale activity around the altcoin has increased notably in recent times. Recently, top 20 wallets transferred 4.42 million DOGE to an unknown wallet, which was followed by a couple of huge transfers.
🐕🪙🐋🚨
10,024,529 $DOGE ($621,671 USD) was transferred from a #Top20 wallet to an unknown wallet.
Fee: 1.04 ($0.06 USD)
Tx: https://t.co/2El055mpqF#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) September 2, 2022
- On the other hand, the DOGE community has intensified their activity on Robinhood as per data from Dogechain. Currently, the retail investors account for more than 30.14% of the whole DOGE supply across 6 Robinhood wallets.