{"id":614259,"date":"2024-12-30T09:16:07","date_gmt":"2024-12-30T09:16:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=614259"},"modified":"2024-12-30T09:16:07","modified_gmt":"2024-12-30T09:16:07","slug":"dogecoin-price-prediction-as-doge-plummets-20-in-a-fortnight-this-pepe-derivative-ico-hurtles-past-38m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-as-doge-plummets-20-in-a-fortnight-this-pepe-derivative-ico-hurtles-past-38m","title":{"rendered":"Dogecoin Price Prediction: As DOGE Plummets 20% In A Fortnight, This PEPE Derivative ICO Hurtles Past $38M"},"content":{"rendered":"

The Dogecoin price plummeted 20% in the last 2 weeks and 2% in the last 24 hours to trade at $0.3190 as of 02:21 a.m. EST on trading volume that surged 43% to $2.2 billion.<\/span><\/p>\n

Dogecoin Price Aims For A Breakout<\/h2>\n

The <\/span>Dogecoin price<\/span><\/a> has been trading within a defined range in the past few weeks after a sharp decline in mid-December. DOGE is priced at $0.319, showing consolidation after failing to break above key resistance levels. <\/span><\/p>\n

The sharp downtrend from the recent peak (near $0.40) appears to have reversed into a sideways movement as the price forms a clear rectangle pattern, indicating indecision in the market. <\/span><\/p>\n

This range-bound behavior is characterized by support around $0.30 and resistance at $0.33-$0.34, according to <\/span>GeckoTerminal<\/span><\/a> data.<\/span><\/p>\n

DOGE price recently retested the 50-day Simple Moving Average (SMA), which has acted as dynamic resistance. The 200-day SMA, at $0.384, remains significantly above the current price, highlighting a bearish bias in the medium term.<\/span><\/p>\n

The Relative Strength Index (RSI) stands at 48.75, which is neutral but leaning slightly bearish. It indicates that neither buyers nor sellers have significant dominance in the market. <\/span><\/p>\n

The lack of movement above the 50-level confirms the ongoing consolidation phase, with no imminent signs of overbought or oversold conditions.<\/span><\/p>\n

Meanwhile, the blue Moving Average Convergence Divergence (MACD) has crossed above the orange signal line, which is an indication that the Dogecoin price may be gearing up towards a bullish move.<\/span><\/p>\n

\"Dogecoin
DOGE\/USD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

DOGE Price Prediction<\/h2>\n

Based on the technical analysis, Dogecoin’s immediate price action suggests continued range-bound trading between $0.30 (support) and $0.33-$0.34 (resistance). <\/span><\/p>\n

A breakout above the 50-day SMA could see DOGE testing higher resistance near $0.36-$0.38, aligning with the 200-day SMA.<\/span><\/p>\n

If the Dogecoin price breaks above $0.34 with significant volume, it could rally toward $0.40, reclaiming bullish momentum.<\/span><\/p>\n

Conversely, a breakdown below $0.30 could result in a slide to $0.25 or lower, confirming further downside risk.<\/span><\/p>\n

Meanwhile, investors are rushing to buy the Pepe derivative <\/span>Wall Street Pepe (WEPE)<\/span><\/a>, which crypto analyst ClayBro, boasting over 136K YouTube subscribers, describes as “Breaking Records! Quickly Becoming One of the Best Meme Coins to Buy”<\/span><\/p>\n