Dogecoin (DOGE) Price Analysis and Prediction: DOGE Set to Stabilize Around $0.123

Dogecoin [DOGE] has experienced a sharp decline in the last month. Over the last 30 days, Doge has reported a 14.98% price decline and a 7.46% decline in the last seven days. experienced a decline. Over the last 30 days, DOGE reported a price drop of 14.98% and a drop of 7.46% in the last seven days. It traded at $.1342.

Source: Tradingview

According to AMBCrypto analysis, DOGE will stabilize around $0.123. In the short term, DOGE prices will likely consolidate between $0.12 and $0.15.

#However, analysis shows that it is likely to reach $0.17 to $0.2 in a bullish long-term scenario.

Therefore, with higher selling, DOGE will likely test the $0.12 support level, while continued market activity will lead to a break above the $0.169 resistance level. Looking further, the RSI at 36 indicates the possibility of an upcoming bullish run. The indicator is showing a potential reversal if the market holds and the RSI is rising. Despite the current bearish trend, future reversal is a possibility.

Additionally, data from Coinglass shows low liquidity levels over the past seven days. On June 15, DOGE reported inadequate liquidation rates for both short and long positions, with each reporting $61.6K and $139.2K respectively.

Short positions were $105.7K at press time At the time of reporting, long positions held $1.07 million. The liquidation of short and long positions shows that the market is benefiting from stability as it consolidates at current rates. This has led to increased accumulation and positive future price expectations for both parties.

In detail, Whales worth over $5 million are increasingly accumulating their assets, according to Santiment. At press time, more than 52% of assets worth more than $5 million are accumulated by whales.

DOGE market expectation

DOGE has fallen steadily over the past seven days. But investors remain optimistic with increased accumulation and decreasing liquidations by whales of more than $5 million.

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If a negative market sentiment persists, DOGE will need to test the local weak support level at around $0.12.

However, if the selling pressure continues, the market It will reverse and break above the resistance level at around $0.169.

News source：

https://www.kdj.com/cryptocurrencies-news/articles/dogecoin-doge-price-analysis-prediction-doge-set-stabilize.html

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