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Synopsis: Dogecoin price today is 0.123 $, with a 24 hour trading volume of 578 million $. Dogecoin is down, 38% in the last 24 hours. The current CoinMarketCap ranking is 13, with a live market cap of 16 billion $. It has a circulating supply of 132 billion DOGE coins. According to our current Dogecoin price prediction, the value of Dogecoin will rise by 14.92% and reach 0.141 $, by March 14, 2022. According to our technical indicators, the current sentiment is Bearish, while the Fear & Greed Index is showing Extreme Fear. Dogecoin recorded 37% green days with 9.20% price volatility over the last 30 days. Based on our Dogecoin forecast, it’s now a bad time to buy Dogecoin.
Based on today’s classical pivot pointwith the value of 0.117 $, Dogecoin has support levels of 0.115 $.0.116 $, and the strongest at  0.110 $, Similarly, Dogecoin resistance levels are at  0.119 $,  0.121 $, and 0.123 $. To get a better idea of what could happen to the Dogecoin price in the future, it’s helpful to also explore Dogecoin’s price history. In the last month, the DOGE USD pair is down -16.94%. The 1 year performance of DOGE USD is 122.77%.
Dogecoin price, shows no signs of stalling the downswing, that has been ongoing since its all-time high in May 2021. The resulting crash seems to be reaching for a fair value gap, adding credence to this incoming downswing. The recent crash, pushed the meme coin to shatter the immediate support level at 0.127 $, pushing the odds in the bears’ favor. Going forward, investors can expect the Dogecoin price to continue its descent to 0.074 $, due to the presence of the FVG, ranging from 0.0075 $ to 0.119 $.
The total move would constitute a 35%, crash and is likely where a local bottom will form for DOGE. Supporting this downswing is IntoTheBlock’s Global In Out of the Money GIOM model. This index shows that the immediate support floor at 0.111 $, is non existent and will likely be breached easily by a short term spike in selling pressure. Therefore, the Dogecoin price is likely to head lower to 0.045 $, where roughly 556740 addresses purchased roughly 10.89 billion DOGE tokens. This barrier coincides closely with the target obtained, from a technical perspective and is the only stable support that should be able to absorb, the incoming selling pressure. Further signaling the bearish, nature of Dogecoin price is the decline in the number of large transactions worth 100000 $, or more from 1,710 to 1,190. This 30% drop in transfers that serve as a proxy of whales’ investment thesis indicates, that these investors are not interested in DOGE at the current price levels.
While things are looking bleak for Dogecoin price, a quick surge in buying pressure that pushes DOGE, to produce a daily candlestick close above 0.163 $, will create a higher high, hinting at an uptrend. Such a move will invalidate the bearish, thesis for Dogecoin price. Dogecoin price has always produced incredible returns, when retesting a historical trend that developed since early 2020. A third retest of the trendline has not yet occurred, but DOGE is currently floating above it.
It is reasonable to consider, that the third retest of a trend line can provide, the most confident entry for investors. Under such an assumption, long-term bulls could wait patiently for Dogecoin, price to fall another 25 30% to test the demand zone sitting between 0.08 $ and 0.09 $. Investors should keep in mind that Dogecoin, price is still printing lower lows on the daily chart. There is still no evidence to suggest any bullish, behavior in the short-term future. With that being said, being an early buyer is not advised.
If the bears cannot successfully push Dogecoin, price into last year’s resistance at 0.09 $, then the end of April could be a very speculative time for the memecoin. The current price will inevitably collide with the historical trend. Invalidation of this bullish thesis will only occur if DOGE, price fails to find support from the historical trend line by April. The historical trend line can potentially transform into resistance, sending prices towards 0.07 $ and even 0.05 $.
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