Our Dogecoin price prediction will swing lower if the price loses a key level. The DOGE coin is facing a massive correction as the price of BTC fell over the weekend. While many analysts are calling this the end of the relief rally, many still believe there is room for growth.
Most cryptocurrencies are trading 20-25% below their recent highs. The sudden drop in BTC caught many short-term traders off guard as the price accelerated in the direction of the downtrend. Dogecoin price is down 0.3% from yesterday and is now trading at $0.665.
Memecoin prices surged last week and created higher highs. However, many skeptics saw this surprising price action as a major signal, and the sell signal rose. DOGE price spiked to the $0.089 level before BTC ruined the party with another slump.
According to Dogecoin News Today, the founders of the frivolous meme project are once again battling it out on Twitter. Jackson Palmer claimed that his co-founder Billy Markus blocked him on the social media platform. The two founders have already worked on the site’s heated spat. However, this is the first time someone has been blocked.
Dogecoin Price Prediction
Technical analysis of the DOGE USD price chart shows that the moment of truth is here for the best memecoin. As of writing, the price is retesting the trendline and the 0.618 Fib retracement level. The $0.066 level has become very critical due to these confluences as Monday’s daily close is likely to decide the next move.
Our Dogecoin price prediction will immediately swing lower if the price closes below the trendline one day. This would accelerate the bearish momentum and the price should retest the July low at $0.057. A retest of the June lows will also be on the cards if BTC price is accepted below the $19,000 level. You can buy Dogecoin and invest in other cryptocurrencies by registering on Binance.