Dogecoin Price Prediction: DOGE Crashes, Down By Over 11%

Daily Dogecoin DOGE Technical Analysis

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Last Updated February 25th 2022
3 Min Read
  • The Dogecoin price has registered a significant drop during the ongoing session, with DOGE currently down by almost 12%. 
  • DOGE has been relatively bearish in recent sessions and had dropped by almost 6% on Monday. 

The Dogecoin price dropped below $0.120 during the ongoing session, as sellers pushed DOGE down to $0.112. DOGE had started the week in the red, falling to $0.128 on Monday. The price recovered on Tuesday, pushing up by 2.42% before dropping back on Wednesday, falling by almost 3% and settling at $0.127. The current session sees DOGE down by almost 12%, as sellers look to push the price lower. 

Dogecoin Price Chart Indicates DOGE Could Drop To $0.110 

The Dogecoin price started the previous week on a bearish note, dropping below the 20-day SMA on Monday. On Tuesday, the price recovered, pushing back above the 20-day SMA and moving to $0.152, before dropping back on Wednesday, falling by 2.11% and settling at $0.148. DOGE fell below the 20-day SMA on Thursday, falling by 6.99% to $0.138, before registering a marginal recovery on Friday.

Image: DOGE/USD daily

Image: DOGE/USD daily chart 022522

The Dogecoin price continued to push up over the weekend, rising by 2.02% on Saturday and moving to $0.141. However, it fell back on Sunday, falling by 3.54% and settling at $0.136. Monday saw the bearish sentiment persist, dropping by almost 6%, before recovering on Tuesday, rising by 2.42% and settling at $0.131. However, DOGE fell back on Wednesday, dropping by almost 3% and then crashing during the ongoing session, with the price currently at $0.114.

We can see that the MACD is currently bearish, indicating that we could see the price drop further.

IntoTheBlock’s IOMAP for the Dogecoin price chart, we can see that DOGE faces strong resistance at around $0.128. At this price level, over 10,000 addresses have sold more than 563 million DOGE.

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Image: IntoTheBlock

Image: DOGE/USD volume chart 022522

Looking at the 4-hour Dogecoin price chart, we can see that DOGE had pushed up to $0.143 on the 19th. At this level, the 20-bar SMA was acting as resistance, and the price fell back, dropping to $0.137. DOGE recovered from this level, pushing above the 20-bar SMA and moving to $0.140 on the 21st. However, DOGE could not stay at this level and fell back significantly, dropping back below the 20-bar SMA and falling to $0.125. DOGE pushed up from this point, moving to $0.134 but could not move past the 20-bar SMA and fell back, dropping to $0.111 and then moving to its current level of $0.114. We can see that the MACD is currently bearish, but if DOGE can push higher, we could see it flip to bullish.

Image: DOGE/USD 4-hour

Image: DOGE/USD volume chart 022522

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE has registered a significant drop during the ongoing session, having hit an intraday low of $0.106. However, the price has clawed back some ground and is currently at $0.116. If DOGE can continue to push higher, we could see DOGE push past $0.120. However, if the price drops, DOGE could drop below $0.110.

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