Dogecoin Price Prediction for Today, May 11: DOGE/USD May Come Below $0.070

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The Dogecoin price prediction shows that DOGE is likely to make a comeback within the channel as its sell-offs may be extended further.

Dogecoin Prediction Statistics Data:

Dogecoin price now – $0.072
Dogecoin market cap – $10.1 billion
Dogecoin circulating supply – 139.3 billion
Dogecoin total supply – 139.3 billion
Dogecoin Coinmarketcap ranking – #8

DOGE/USD Market

Key Levels:

Resistance levels: $0.095, $0.105, $0.115

Support levels: $0.055, $0.045, $0.035

Dogecoin Price Prediction for Today, May 11: DOGE/USD May Come Below $0.070 — DOGEUSD – Daily Chart

DOGE/USD is currently changing hands at $0.072, down from the opening trade of $0.073. The Dogecoin price could remain below the 9-day and 21-day moving averages on the market, and it is mainly influenced by speculative sentiment and technical factors, while the coin may continue to move sideways.

Dogecoin Price Prediction: Would Dogecoin (DOGE) Move Downside?

The Dogecoin price is hovering below the 9-day moving average as bulls are yet to hold their ground. However, the widespread retracement on the market could bring the coin to the south with the next local support located at $0.065 as this level is likely to limit the correction to serve as a jumping-off ground for another bullish movement.

However, if the coin continues to drop, it is likely for the sell-off to gain traction with the next focus on $0.055, $0.045, and $0.035 support levels. On the upside, the initial resistance may be created above the 9-day and 21-day moving averages at the $0.800 level and traders may need to see a sustainable move to the upside. The further bullish movement could touch the resistance levels of $0.095, $0.105, and $0.115. On the contrary, the technical indicator Relative Strength Index (14) is moving below the 40-level, suggesting downward movement.

Against Bitcoin, the Dogecoin price remains on the downside as the coin moves below the 9-day and 21-day moving averages. The bulls could not push the market to the upside while the technical indicator Relative Strength Index (14) moves to cross above the 40-level.

However, the critical support level could be located at 200 SAT and below. Moreover, if bulls begin to power the market, the coin may likely break above the upper boundary of the channel to find the potential resistance level at 350 SAT and above.

Alternatives to Dogecoin

The Dogecoin price is currently hovering around the $0.072 level below the 9-day and 21-day moving averages. If the coin drops below the lower boundary of the channel, the closest support could be located at $0.060, while a close resistance could be found at $0.085. Nonetheless, The only way to buy AiDoge credits is with the project’s native token – $AI. This means that the $AI token has real-world use cases. Not only as a payment currency but as an investment vehicle. This is because AiDoge is offering 50% of the $AI supply via a presale campaign. Meanwhile, there has already been close to $8 million raised during the AiDoge presale.

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