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- Dogecoin price prediction suggests the token’s recovery phase inside the parallel channel over the daily time frame chart.
- DOGE crypto has successfully recovered above 20, 50, 100 and 200-days Daily Moving Average.
- Dogecoin price might recover above $0.1 as speculated by some analysts from big crypto firms.
Dogecoin price prediction suggests that the token might recover above $0.1 as the DOGE community has been continuously putting efforts. DOGE cryptocurrency might reach $0.1 level with this recovery phase inside the parallel channel over the daily time frame chart. Meanwhile, buyers are trying to provide the DOGE token a kick start to rally with strong uptrend momentum over the charts. Dogecoin price has been trading with strong uptrend momentum inside the ascending parallel channel over the daily time frame chart.
Dogecoin price was at $0.0943 and has gained 1.52% of its market capitalization during the day’s trading session. Trading volume has increased by 5.33% during the intraday trading session. This demonstrates that buyers in DOGE crypto are trying to provide a kickstart to the token to continue its recovery through the ascending parallel channel. Volume to market cap ratio is at 0.0553.
The daily time frame chart for Dogecoin price prediction shows the DOGE token in its long-term consolidation phase. Some analysts predict that the DOGE cryptocurrency will recoup its losses and reach $1 by the end of 2023.
In order to accomplish the necessary recovery, DOGE cryptocurrency needs to gather buying power and rally out of the long-term consolidation phase in the current ascending parallel channel. Although the volume movement is below normal, sellers may approach the market to withdraw DOGE cryptocurrency.
Past Recovery Hints for a ‘DOGE Rally’ in 2023 (Dogecoin Price Prediction)
In order to confirm the accuracy of this Dogecoin price prediction in 2023, three things must occur. If all three of these factors come together to make DOGE cryptocurrency mimic the 2021 increase, it will only take time to tell.
The following three factors are said to support DOGE cryptocurrency reaching $0.1: Elon Musk Could Help, Dogecoin Gets Technical Upgrades, and the Crypto Market Rebound in 2023. These three causes might enable DOGE cryptocurrency to rise above $0.1, and if the DOGE rally resembled the one from 2021, Dogecoin price could reach $1.00 by the end of 2023.
About the past recovery, so Dogecoin price has surged around 7.83% during last week and has also gained 28.78% during the period of a month. While the six months recovery is astonishing as DOGE crypto has recovered more than 35% in the period of six months. Meanwhile, Dogecoin price has gained around 34% year to date which shows the potential of DOGE cryptocurrency and the faith of the Dogecoin community.
Will DOGE Crypto Continue its Recovery?
Dogecoin price prediction suggests that the token has been trying to recover through an ascending parallel channel over the daily time frame chart. Technical indicators suggest the strong uptrend momentum of Dogecoin price.
Relative Strength Index showcases the strong uptrend momentum of DOGE crypto. RSI is at 62 and is heading towards the overbought territory. MACD exhibits the upside momentum of DOGE crypto. The MACD line is ahead of the signal line after a positive crossover. Investors in DOGE cryptocurrency need to wait until Dogecoin price breaks out of the long term consolidation phase.
Summary
Dogecoin price prediction suggests that the token might recover above $0.1 as the DOGE community has been continuously putting efforts. DOGE cryptocurrency might reach $0.1 level with this recovery phase inside the parallel channel over the daily time frame chart. In order to confirm the accuracy of this Dogecoin price prediction in 2023, three things must occur. The following three factors are said to support DOGE cryptocurrency reaching $0.1: Elon Musk Could Help, Dogecoin Gets Technical Upgrades, and the Crypto Market Rebound in 2023. Technical indicators suggest the strong uptrend momentum of Dogecoin price. Investors in DOGE cryptocurrency need to wait until Dogecoin price breaks out of the long term consolidation phase.
Technical Levels
Support Levels: $0.090 and $0.085
Resistance Levels: $0.10 and $0.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
