Next week may see DOGE plummet by 30% due to price rejection

Dogecoin (DOGE) is facing a significant decline over May, with predictions suggesting losses of nearly 30%. DOGE’s bullish performance faltered this week as it was unable to reclaim a vital support element, settling for small profits. This failure puts DOGE on a trajectory to incur losses of up to 25% the following week. As of late, DOGE has slipped below substantial support that has now become resistance, potentially tanking the cryptocurrency. However, if bulls manage to break records and push the value of DOGE beyond the 200-day Simple Moving Average, this would establish a positive trend and put bullish investors in pole position. Should DOGE rally, gains of up to 20% could be seen, and the risks of a decline would be minimal.

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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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