A Possible 18% Decline in DOGE on the Horizon
Dogecoin’s (DOGE) price has been on a downward trend since DOGE Day, a day celebrated by the Dogecoin community on April 20. The price dropped by 4.5% on that day due to a sudden drop in Bitcoin’s price, triggering a sell-off in other cryptocurrencies. The current DOGE price is at $0.0802, up 0.54% on Wednesday. However, since the rally in March, the price has been trending downwards and may retest March lows. The next major support level is at $0.065, which is more than 18% below the current price. To avoid a bearish outlook, bulls need to break above the $0.0828 level, where the 200-day moving average lies. Analysts are keeping a close eye on DOGE and providing updated analysis on free Telegram groups.
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