As the markets remain slow on Monday, the blues are affecting the major altcoins and resist any sharp movement in the bigger coins. Similarly, the biggest meme coin in history, the DOGE price trend, is sticking to the 200D EMA.
However, the rising network activity boosts the anticipation for a bull run in Dogecoin as the parabolic growth catches the eye of the industry. Will this recovery drive the DOGE price beyond $0.10? Read our DOGE price prediction NOW to find out.
Dogecoin Under Pressure Eyes Bullish Recoil
Maintaining a lower high trend continuation, the DOGE price action forms a descending triangle, with the 200D EMA as the baseline. Moreover, the declining trend in trading volume teases a sideways continuation.
However, the growing RSI divergence in the daily chart teases a bullish surge coming for the mem coin in the week. Currently, Dogecoin is trading slightly above the 200D EMA at $0.0776.
With the 890,000 new Dogecoin addresses, the growth over the DOGE network is remarkable over the week. However, the lack of reflection in the DOGE price teases a quick move if the overall market recovers.
Further, as per @ali_charts, a crypto analyst, the Bollinger bands indicate the tightest squeeze in this memecoin since October 2023. This increases the chances of a breakout to enter a supersonic price move. However, the breakout of either bands will provide a better entry signal for sideline traders.
Will DOGE Price Reach $0.10?
As the RSI divergence grows intense and the network health fuels the bull run anticipation, the squeezing DOGE price shows high breakout potential. With the breakout momentum, Dogecoin can easily challenge the bearish presence at the $0.10 mark.
On a contrary note, if the consolidation breaks below the 200D EMA, the altcoin may drop to $0.075.