Doge Price Prediction:

Dogecoin price forecast indicates that DOGe cryptocurrency is currently in a downtrend after slipping out of a rising parallel channel on the daily time frame chart.

DOGE’s daily moving average of 20, 50, 100, and 200 days has been breached.

The DOGE/BTC pair was down 1.88% during the intraday trading session, trading at 0.000003766 BTC.

The DOGE community’s ongoing efforts suggest that the token may increase above $0.1 given the dogecoin price prediction. The DOGE cryptocurrency may reach the $0.1 level during this recovery phase inside the parallel channel on the daily time frame chart.

The DOGE token has dropped below the ascending parallel channel and must now climb back up. The DOGE token is currently being attempted to rally with strong upward momentum across the charts by buyers.

Dogecoin’s price was $0.08161, and during the day’s trading, it lost 0.72% of its market capitalization. However, during the intraday trading session, trading volume increased by 98.93%.

This shows that buyers of DOGE cryptocurrency are attempting to jump-start the token’s recovery through the ascending parallel channel. The market cap to volume ratio is 0.07258.

The daily time frame chart for Dogecoin price prediction indicates that the DOGE token is currently in its long-term consolidation phase.

Some analysts predict that the DOGE cryptocurrency will regain its losses and reach $1 by the end of 2023.

To achieve the required recovery, the DOGE cryptocurrency must increase its purchasing power and rally out of the long-term consolidation phase in the current rising parallel channel.

Sellers are still able to approach the market to withdraw DOGE cryptocurrency despite the lower-than-average volume movement.

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