Dogecoin Price Analysis: Can DOGE Push To $0.20?

Daily Dogecoin Price Prediction

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Last Updated December 27th 2021
3 Min Read
  • The Dogecoin price ended the previous week by registering a marginal drop. 
  • DOGE had been quite bullish during the previous week and had risen to $0.19 on Saturday. 

The Dogecoin price has registered a marginal increase during the ongoing session, as buyers and sellers struggle for control of the session. DOGE had pushed up significantly on Thursday, rising by nearly 7% and settling at $0.18. The price continued to push up on Friday, registering an increase of 0.86% and then an increase of 2.20% on Saturday to move to $0.19. The price fell back on Sunday, as DOGE registered a marginal drop, before recovering during the ongoing session. 

Dogecoin Price Chart Indicates Buyers And Sellers Struggling For Control 

The Dogecoin price started the previous weekend on a fairly bearish note, dropping to $0.16. The price recovered on Saturday, rising by over 2%, but fell back in the red on Sunday, dropping by 1.74%. Monday saw DOGE remain in the red, as the price dropped by a further 0.95% and dropped to $0.16. After reaching this level, the price made a strong recovery, rising by 1.97% on Tuesday and then settling by 1.35% on Wednesday, settling at $0.17.

Image: DOGE/USD daily

DOGE/USD daily chart 122721

The Dogecoin price continued to remain bullish after rising to $0.17 on Wednesday. DOGE surged by nearly 7% on Thursday, pushing past the 20-day SMA and settling at $0.18 before registering another increase of 0.86% on Friday. The weekend started on the same note for DOGE, as it pushed up by over 2% on Saturday, settling at $0.19, before registering a marginal drop on Saturday. The current session sees DOGE back in the green, as buyers look to push it towards $0.20.

We can see that the Parabolic SAR is currently bullish, indicating that the price could push higher.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE has strong support at around $0.18. At this price level, over 43,000 addresses have bought more than 8 billion DOGE.

Image: IntoTheBlock

DOGE/USD volume chart 122721

The 4-hour Dogecoin price chart shows us that DOGE had risen to $0.16 on the 20th. The price continued to push higher from this level, rising above the 20-bar SMA on the 22nd and then the 50-bar SMA, settling at $0.17. The price registered a marginal drop from this level, but the price stabilized thanks to the 50-bar SMA acting as support. The price pushed up significantly from this level, as it rose to $0.18 and then moved above the 200-bar SMA on the 25th when the price rose to $0.19. With the 200-bar SMA now acting as support, DOGE could stay at this level, with its current price still $0.19.

We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could drop further.

Image: DOGE/USD 4-hour

DOGE/USD 4-hour chart 122721

DOGE Price Is Expected To Reach These Levels

The Dogecoin price chart shows us that buyers and sellers are struggling to take control of the current session. If buyers retain control, then DOGE could push towards $0.20. However, if sellers take control, we could see DOGE drop below $0.19.