Dogecoin Technical Analysis: DOGE Registers Marginal Recovery, Looks To Push Above $0.18

Daily Dogecoin Price Prediction

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Last Updated December 7th 2021
3 Min Read
  • The Dogecoin price registered a recovery on Monday, as it rose by 3.67%. 
  • Thanks to the market crash, DOGE had been extremely bearish, dropping over 10% on Saturday. 

As buyers return to the market, the Dogecoin price has registered a marginal increase in the ongoing session. DOGE had dropped by 4.54% on Friday, as the price fell to $0.19. Saturday saw the price continue to fall, as a marketwide selloff ensured, with DOGE dropping by over 10%. The price dropped further on Sunday, dropping by over 4% and ending the weekend at $0.17. However, the price recovered on Monday, as DOGE recovered after its slump and rose by over 3%. 

Dogecoin Price Chart Indicates DOGE Could Move Above $0.18 

The Dogecoin price started the previous weekend on a bullish note, as the price registered an increase of 1.95% on Saturday and then by 1.02% on Sunday to end the weekend at $0.20. The price continued to push up on Monday, rising by 3.71%, but fell back on Tuesday, as sellers pushed the price down marginally. Wednesday saw a drop of 2.56%, with the price staying in the red on Thursday, registering a marginal decline.

Image: DOGE/USD daily chart 120721

Image: DOGE/USD daily

The Dogecoin price continued to drop on Friday, as the price dropped by 4.54% and fell to $0.19. The bearish sentiment persisted on Friday, as DOGE fell by over 10% and fell to $0.17. Friday was also a highly volatile session for DOGE. The drop continued on Sunday, as the price fell by over 4%, ending the weekend on a bearish note. However, Monday saw the price recover by 3.67%, with the current session also seeing a marginal increase.

We can see that the Parabolic SAR is currently bearish; however, if the price continues to push up, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Dogecoin price, we can see that DOGE has strong support at around $0.17. At this price level, over 17,000 addresses have bought more than 1.6 billion DOGE.

Image: DOGE/USD volume chart 120721

Image: IntoTheBlock

The 4-hour Dogecoin price chart shows us that DOGE had pushed above the 20 and 50-bar SMA on the 29th and 30th, respectively, rising to $0.22. DOGE maintained this level thanks to the 50-bar SMA acting as support but slipped below it and the 20-bar SMA on the 2nd, falling to $0.20. The price could not push above this level thanks to the 50-bar SMA now acting as resistance and fell back drastically, dropping to $0.15. DOGE pushed up to $0.18 from this level but dropped back to $0.17. Currently, the price remains at $0.17, with buyers looking to push the price higher.

We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price rise further.

Image: DOGE/USD 4-hour chart 120721

Image: DOGE/USD 4-hour

>100,000 DOGE-related Pages Have Been Published Online In November

The rise in meme cryptocurrencies’ popularity has to an extent, been driven by various online publications focusing on the coins as more investors searched for information amid their skyrocketing value. In November, Dogecoin recorded 106,800 published online pages, according to data by Ahrefs.com.

In comparison, DOGE’s number of published pages was at least 13 times more than Shiba Inu, which registered 8,100 publications. SHIB’s value dropped at least 33% in November, while Dogecoin also plunged over 20%. 

The publication around the two most popular meme coins emerged when the cryptocurrency market experienced high volatility. Notably, the publications have provided the latest developments around the tokens with investors looking for more information and insights.

Overall, with the coins’ growth, more people were interested in learning about investment opportunities, risks, price prediction, etc. In this line, the coins were among the most searched tokens on the internet. As previously reported, Dogecoin and Shiba Inu were the most-searched tokens on Google in 30 US states in 2021.

Notably, the two coins have been on the spot for lacking real-world uses cases, and any related content on developments like potential exchange listing and adoption has proven key to their price surge. Consequently, various publishers have understood the importance of such information to guide readers in making investment decisions. 

Furthermore, although Dogecoin and Shiba Inu appear to have the same share of popularity, the former has registered a high number of published pages, partly attributed to the coin’s longevity in the market.

DOGE Price Is Expected To Reach These Levels

Looking at the Dogecoin price chart, we can see that DOGE had made a slight recovery on Monday and continues to remain in the green during the ongoing session. If buyers can maintain control of the session, we could see DOGE push past $0.18.