{"id":623891,"date":"2025-02-04T09:47:54","date_gmt":"2025-02-04T09:47:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=623891"},"modified":"2025-02-04T09:47:54","modified_gmt":"2025-02-04T09:47:54","slug":"dogecoin-price-prediction-as-doge-soars-20-investors-flock-to-this-new-crypto-index-that-simplifies-meme-coin-investing","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-as-doge-soars-20-investors-flock-to-this-new-crypto-index-that-simplifies-meme-coin-investing","title":{"rendered":"Dogecoin Price Prediction: As DOGE Soars 20%, Investors Flock To This ICO For Diversified Meme Coin Investing"},"content":{"rendered":"

The Dogecoin price soared 20% in the last 24 hours to trade at $0.2805 as of 11:22 p.m. EST on trading volume that plunged 29% to $6.5 billion.<\/span><\/p>\n

Dogecoin Price Indicators Show A Rebound<\/b><\/h2>\n

The <\/span>DOGE price<\/span><\/a> analysis on the 1-day timeframe shows that the asset recently broke below a key support zone (marked in purple) after an extended period of sideways consolidation. This breakdown signals a shift in market sentiment from neutral to bearish.<\/span><\/p>\n

Previously, the Dogecoin price saw a strong rally in late 2024, with prices surging from around $0.10 to a peak near $0.47, followed by a consolidation phase near the $0.30 – $0.46 range, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

The breakdown below $0.30 confirms that sellers have regained control, pushing the price down to $0.2805.<\/span><\/p>\n

However, the price of DOGE has since recovered, showing signs of a rebound and now hovering near the 200-day Simple Moving Average (SMA) at $0.2265, which could act as a strong support level.<\/span><\/p>\n

The Relative Strength Index (RSI) is currently 35.99, approaching oversold territory (below 30). This suggests that DOGE may be nearing a short-term bottom, and a potential bounce could occur if buyers step in. However, if RSI remains weak, further downside is possible.<\/span><\/p>\n

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

DOGE Price Prediction<\/b><\/h2>\n

Based on the Dogecoin price analysis, DOGE is currently recovering from the recent breakdown below the lower boundary of the sideways pattern. A reclaim of $0.30 is crucial for a bullish recovery. A strong breakout above $0.34 (50-day SMA) would confirm a reversal and potentially lead to a retest of the $0.40 – $0.45 resistance zone.<\/span><\/p>\n

With the Dogecoin price still trading below the crucial support zone, the asset could receive some bearish pressure, with a possibility of further downside if the $0.2265 (200-day SMA) fails to hold. If this support level breaks, DOGE could decline towards $0.20 or lower.<\/span><\/p>\n

As the Dogecoin price soars, investors are also buying a new meme coin called <\/span>Meme Index (MEMEX)<\/span><\/a>. According to crypto analyst and YouTuber Jacob Bury, who has over 55K subscribers, MEMEX has the potential to be the next 10x crypto.<\/span><\/p>\n