Dogecoin Price Prediction as $700 Million Floods In – $1 DOGE Possible in June?
The Dogecoin price has fallen by 1% in the past 24 hours, dropping to $0.1522 on a disappointing day for the cryptocurrency market as a whole.
Despite this drop, DOGE is up by 5.5% in a week, although it does remain down by 9% in the past fortnight and has barely moved in a month.
Having said that, Dogecoin has gained by over 100% in a year, and with meme tokens potentially on course for their own season of out-performance, the coin could rally again very soon.
DOGE looks ready to recover after a difficult day yesterday, with the coin’s indicators showing a return of some momentum.
After looking like it would fall below the 200-day average (blue), the 30-day average (orange) has flattened and may begin rising again, a sign of incoming gains.
Likewise, DOGE’s relative strength index (purple) has recovered from 30 yesterday to just over 50 as of writing, with this rise pointing to increased buying pressure.
What’s interesting is that DOGE’s trading volume has risen slightly today to $700 million, yet this is still low enough that a big buy from a whale could push the coin’s price up much higher.
Yet, at the moment, it seems that whales have been offloading DOGE rather than buying it, which could mean that we may have to wait a few more days for a rebound.
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