Could Dogecoin Price be Poised for a 25% Rally?

Dogecoin price has fallen below the range low at $0.0705 and then recovered above it, indicating that a rallying could be imminent. Investors may expect a 23% upswing to test the range high at $0.0946 as Dogecoin price has been closely stuck to between the buying climax at $0.0946 and selling climax at $0.0705 for the past four months. Bitcoin’s high bullish market may fuel the rally for Dogecoin price, and if successful, will bring the total gain to 40%. The number of new addresses on the Dogecoin network has doubled from 15,000 to 30,000 between March 1 and 8, bringing credibility to the bullish thesis. However, an invalidation of the bullish thesis will happen under the $0.0705 support level, wherein Dogecoin price could slide lower and retest the $0.0645 support level.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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