Dogecoin Price Prediction: $0.6 In Sight If DOGE Clears This Resistance First

Key Insights

• A top analyst has shared a Dogecoin price prediction to $0.6, sparking market optimism.
• DOGE price surged over 4% amid a soaring Dogecoin Futures Open Interest.
• Another expert has hinted towards a likely DOGE rally to $0.21 in the near future.

The broader crypto market went through a volatile phase over the past few weeks, with the meme coin space also witnessing a significant downturn.

The leading player in the space, Dogecoin price, was no exception, and it has recorded a massive retreat over the past few days.

However, despite the slump, the latest Dogecoin price prediction from market experts still looks bullish.

In other words, the market pundits have remained optimistic over a potential recovery in the meme coin in the near future.

In addition, the experts also highlighted the key DOGE price levels to watch for potential future movement of the coin.

However, it seems that the broader crypto market momentum will play a key role in shaping the future prospects of the asset.

Looking at the current scenario, it appears that the market participants are shifting their focus from the risk-bet assets towards the safer ones.

Having said that, the investors are keeping close track of the recent movements of DOGE price, especially as the Dogecoin price prediction remains bullish.

DOGE Price in Red, But Here’s What On-Chain Data Hints

Dogecoin price today has recorded some recovery in the last 24 hours, witnessing a surge of around 3.5% to $0.14.

Over the past 24 hours, the trading volume of the meme coin recorded a slump of over 41% to $696 million at the time of writing.

Notably, DOGE price has traded near the flatline over the past week, while witnessing a slump of around 19% in the last 30 days.

The leading meme coin has hovered between a high and low of $0.1657 and $0.1324 in the last 30 days.

Meanwhile, the Relative Strength Index (RSI) of Dogecoin was at 42 at the time of writing, suggesting it is in a neutral zone.

In other words, the latest level indicates that DOGE price may slip further in the near future before reaching the “oversold” zone or a potential rebound ahead.

On the other hand, the on-chain data suggests a positive sentiment hovering in the market.

According to CoinGlass data, the Dogecoin Futures Open Interest rose nearly 7% to $1.5 billion, suggesting a bullish sentiment among traders.

Considering the on-chain data, the bullish Dogecoin price prediction is gaining traction.

In addition, the recovery in the last 24 hours has also gained notable traction, suggesting a continuing surge in the meme coin price ahead.

Dogecoin Price Prediction to $0.6, All You Need To Know

Amid the ongoing recovery in DOGE price, a market expert has shared a bullish Dogecoin price prediction of around $0.6.

For context, analyst Trader Tardigrade has highlighted the recent movement of the DOGE price, which resembles its historical movements.

Considering the earlier momentum of the meme coin, experts have predicted a potential surge for the asset to $0.6.

In addition, the experts have also shared the short-term targets for the asset. Renowned market expert Ali Martinez has recently shared a price analysis for DOGE price.

The expert said that Dogecoin price “appears to be trading in a triangle,” which indicates a potential breakout ahead.

As per the chart that he shared, the expert has highlighted $0.14 as a key resistance for the asset.

Besides, he noted that breaking the $0.14 resistance may trigger a potential rally for DOGE price to $0.21 in the near future.