Additionally, even in the context of cryptocurrency markets, the price of Dogecoin is extremely unstable since social media groups are responsible for significant price spikes and subsequent crashes that attract mainstream media attention.

Doge Price Prediction:

The alpha meme coin mooched off Elon Musk’s attention in late October, as CoinChapter reported in the previous Dogecoin review, and rallied by nearly 180%. On November 1, DOGE/USD reached $0.158, but it has since lost 58% of that value. As a result, on November 8th, Dogecoin’s price was $0.101, down 12% on the previous day.

Notably, the Dogecoin token exited the trading pattern known as a “descending channel” that it had been in since July 2021. The channel specifically had two descending parallel trendlines that drove the price of DOGE downhill by increments through repeated support and resistance tests.

The next two price supports for Dogecoin would be around $0.08 and $0.05 in the event of further decline.

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