Dogecoin Price Prediction – Here’s How High DOGE Can Go This August

At the time of writing, Dogecoin was just above the $0.068 support. After bottoming at $0.060 on July 26 to a high of $0.072 on July 29, the Dogecoin one recorded three consecutive days of earnings.

However, as the daily RSI is still hovering around the neutral 50 point level, the trend is still for consolidation.

#Dogecoin price is gearing up for a breakthrough move. The short-term targets are $0.08 and $0.125, while technicals suggest that the FOMO stretch targets could reach $0.25 in the coming weeks.

Buyers might need to push the price above $0.072 and then $0.075 in order to kickstart the move higher. Under the current setup, they need to hold the $0.06 support lest DOGE fall to $0.05, its yearly low again.

Dogecoin Network Expands Despite Bear Market

According to analyst Ali Martinez, the number of new Dogecoin addresses created every day increased by 265%, from 14,470 to 38,430. He said network expansion is a good indicator, which may soon show up in the price of Dodge.

#Dogecoin price has dropped around 15% in the last 2 months from $0.082 to $0.068. Meanwhile, the number of daily new $DOGE addresses jumped 265%, from 14.47K to 38.43K new addresses per day. The increasing growth of the network is a positive sign, which may soon be reflected in the #DOGE price.

The increase in the number of holders may not affect prices immediately, but it can indicate interest in an asset over time, which is still a good indicator according to Ali.

Read also Prediction for DOGE, SOL and FTT prices! Traders are watching these accumulation levels

For now, Dogecoin ranges in an almost rectangular range between $0.060 and $0.075. The breakout of this range upwards or downwards will be decisive for the rest of the DOGE/USD fluctuations.

๐Ÿ’Ž Receive your Free Crypto Watch

The “Quickly Done, Well Done” crypto watch: Every Friday at 8 p.m. sharp, receive our free crypto watch in your email inbox. 100% added value, 0% spam!

๐Ÿ”ฅ Receive as a Bonus your Free Guide “Find the future Nuggets”: Learn how to analyze cryptos like a pro, avoiding Red Flags and Scams, to start or continue your Adventure in the world of cryptocurrency.

Leave a Comment