Dogecoin Massive Pump Soon – Dogecoin Price Prediction Will Doge Rise Up ??

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Synopsis: Dogecoin price analysis shows, that the digital asset is currently in a downtrend, as it has failed to remain above the $0.058 support level. Despite the recent price rebound, the digital asset is still trading below the $0.0600 resistance level. The Dogecoin price analysis shows that the Dogecoin price today is $0.0544, with a 24-hour trading volume of $765 million. Dogecoin is down 4.60% in the last 24 hours.

Dogecoin price has been on a downtrend, which can clearly be seen on the weekly chart. The sudden collapse in May and June exacerbated the correction pushing DOGE, to a stable support level, a breakdown of which could trigger another brutal crash. Dogecoin price peaked in May 2021 as it set a new all-time high at $0.739. Since then, DOGE has produced five lower highs. These swing points can be connected to further visualize the corrective phase.

More recently, Dogecoin price has crashed through the $0.070, to-$0.087 support area, denoting the massive sell pressure present in the ecosystem. The fallout from the Celsius Network seems to have affected many companies, that were previously thriving.

Regardless, DOGE has one last support level at $0.048, that will prevent it from heading lower. However, if the sellers overwhelm the buyers, leading to a breakdown, it could trigger a brutal sell-off. In such a case, Dogecoin price will crash roughly 60% and fill the Fair Value Gap (FVG), aka price inefficiency, extending from $0.041 to $0.014. While the crypto markets are bleak for the right reasons, investors seem to be flocking to DOGE. The number of new addresses joining the Dogecoin network has been on an uptick since June 2 and has increased by 59% from 13360 to 21300 in under two weeks.

The last time the number of new addresses, was this high was around the May 12 crash. At first glance this uptick might seem bullish but standalone, might not be enough to prevent a disaster, in case of a massive market-wide sell-off. Regardless of the ongoing bearish narrative in the ecosystem, if the Dogecoin price manages to bounce off the $0.048 support level, the downside can be postponed. However, only a weekly candlestick close above $0.109 will invalidate the bearish thesis. Confirmation of a bullish trend will occur if DOGE sets up a higher high relative to the April 4 swing high at $0.179. The 4-hour Dogecoin price chart shows that the digital asset is currently in a downtrend as it has failed to remain above the $0.058 support level. Despite the recent price rebound, the digital asset is still trading below the $0.0600 resistance level. The Dogecoin price analysis shows that the Dogecoin price today is $0.054443 with a 24-hour trading volume of $765,238,721. Dogecoin is down 4.60% in the last 24 hours.

The 4-hour technical indicators are showing bearish signals as the MACD is in bearish territory and is likely to see further downside momentum

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