CandleFocus

Can Dogecoin Bounce Back to $0.5 After Major Dip? Experts Weigh

The price of Dogecoin (DOGE) experienced significant volatility, dropping from $0.4673 to $0.3800, which closely mirrored Bitcoin's decline to $94,000. DOGE is currently trading at $0.4057, marking an 8.81% decrease in the past 24 hours and a 2.36% decrease for the week. Analyst MastaCrypta suggests a broader upward trend for DOGE based on a rising channel pattern, with immediate resistance at $0.42674 and support at $0.37143. They see a potential upward target of $0.47. However, analyst Ripplayer highlights a bearish double-top formation and suggests a downside target between $0.29 and $0.30. Other analysts argue for a bullish outlook, citing historical cyclical behavior and suggesting an accumulation opportunity in the current price range of $0.30 to $0.40, with a potential long-term target of $18 for DOGE.

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