Dogecoin Crypto Price Levels

Dogecoin crypto (DOGE) inflicts an 11.5% price increase today on the daily charts upon signs of a bullish reversal breakout. The chart above reflects a bullish breakout from a slanted double bottom pattern.

On the charts Dogecoin is now trading at $0.0758 and could perhaps be carrying enough momentum to break back through the $0.08 resistance level.

Dogecoin Crypto is now up 54% from the low of $0.049 set on the 18th June 2022. Dogecoin is available on eToro.

Cryptoassets are a highly volatile unregulated investment product.

Dogecoin Crypto (DOGE) Price Prediction 2022

Currently Dogecoin Crypto is trading at $0.074 with a very strong market capital of $9.83 billion. Just today Dogecoin has seen a surge of trading volume over the last 24-hours, an increase of 70%. The increase in price has resulted in Dogecoin returning back to rank #10 amongst other cryptocurrencies.

On the 13th June Dogecoin Crypto printed a swing-low to the support trend line of the descending channel. This looks like what could be the bottom for the short-term as the market sentiment begins to flip back to feeling bullish.

Dogecoin Fibonacci Price Levels

Doge-Usdt – 30-minute Time frame.

Dogecoin Crypto is now forming a bullish chart pattern known as a bull flag on the 30 minute time frame. Usually this results in continuation to the upside and by measuring the flagpole we achieve a technical target of around 6.25%. This would bring Dogecoin Crypto to around $0.078 if we were to successfully breakout.

The Fibonacci retracement tool also shows us that Dogecoin has pulled back slightly down to the 0.5 Fibb level. Shortly after this Dogecoin initiated another swing-high to the resistance trendline of the bull flag.

If we can consolidate in this bull flag chart pattern there is a good chance we could see an impulse. This could be ideal for traders who are hoping for long positions on Dogecoin Crypto.

The bearish scenario is that we might lose the support of the bull flag at $0.072 and the bears take over. Should this happen there might be a possibility that Dogecoin retests the descending channel resistance as support at $0.067.

Matt Wallace Crypto Influencer.

Even Crypto influencer Matt Wallace is feeling rather bullish about Dogecoin on Twitter this morning. Whilst Dogecoin Crypto is still lacking search volume across Google (according to Google Trend data) we are still seeing some bullish price action.

Dogecoin Crypto (DOGE) Video Analysis

I expect Dogecoin Crypto will continue to chop around the $0.06-0.11 price levels for the remainder of 2022. With the depths of the crypto winter still yet to come, it would be merely dubious speculation to assume all time highs are on the way.

It will take a long recovery phase and an extreme amount of accumulation to see Dogecoin Crypto repossess it’s previous all time high of $0.68. Of course much of this will depend on the rest of the blockchain market and trajectory of Bitcoin.

Further reading: Tsuka Price Prediction 2022 – 2025

What is Dogecoin Crypto (DOGE)?

Dogecoin (DOGE) is a meme based cryptocurrency which features a cute looking Shiba Inu on its branding. It is one of the most popular meme cryptocurrencies ever created and a great deal of this is thanks to Elon Musk. The creators of Dogecoin envisioned DOGE to be fun, gimmicky, and a humorous cryptocurrency that could have greater appeal beyond the core Bitcoin audience.

Tesla CEO Elon Musk posted several tweets on social media that it was his favourite cryptocurrency project. This led to the coin becoming overvalued too soon due to the extreme euphoria and greed. It is in question as to whether Dogecoin will ever get close to surpassing a $100b market capital ever again.

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Cryptoassets are a highly volatile unregulated investment product.

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