The post Dogecoin Price Prediction: Is 50% Rebound Imminent? appeared on BitcoinEthereumNews.com.

Dogecoin Price, the world’s largest memecoin, is facing huge selling pressure amid a general market decline. The price chart suggests DOGE is now in a consolidation phase after a sharp decline on Monday that continued until early Tuesday. State of the Dogecoin Price Outlook On Monday, DOGE slipped below the daily Simple Moving Average (SMA) 200 at $0.24 for the first time since October 2024. The drawdown continued into Tuesday’s session, with prices touching lows of $0.195. DOGE has lost over 15% of its value in the past two days. However, the price has since recovered, and DOGE is currently trading at $0.2071, according to market data. Investor activity is still low, as indicated by a 50% decrease in the daily trading volume. Dogecoin’s price had previously formed a strong support at $0.24. With the recent price decline, onchain analysts pointed out that DOGE’s key support is now at $0.19. Ali emphasized that the probability of a deeper correction toward $0.060 increases if Dogecoin drops below $0.19. On the contrary, Dogecoin’s ability to rise from this support line and reclaim the daily SMA 200 level could imply diminishing selling pressure. From here, Dogecoin may try to rally to the 50-day SMA of $0.30, where it could face resistance. DOGE/USD 1D Chart as seen on TradingView Onchain Sentiment to Note Ali Martinez recently posted on X to highlight another Dogecoin price dynamic. According to the analyst, Dogecoin’s total futures trading volume is currently $992 million. Source: X This figure is a huge decline from the $58.2 billion recorded in November, signaling a big shift in market interest or liquidity. Factors like broader crypto volatility, fading hype, or traders pivoting elsewhere are likely responsible for the declining DOGE futures trading volume. DOGE’s next move might hinge on whether it can reignite that…

---

Filed under: News - @ February 28, 2025 2:27 am