Dogecoin (DOGE) Shed 11% In Seven Days, Analyst Highlights Bullish Indicators

The price of the most popular meme coin, DOGE, has been on a rollercoaster this past week. On June 12, the asset price fell from $0.150 to $0.134.

According to CoinMarketCap, the coin price has decreased by more than 11% within the past week. This was due to the BTC price drop, which affected altcoins.

Moreover, in the last 24 hours, the bears seem to have control of DOGE, as it's down slightly by 1.87%. Dogecoin ($DOGE) is trading at $0.14. Despite this decline, experts point to several bullish indicators suggesting a potential price rebound.

This analysis provides a hopeful outlook for Dogecoin's future amidst its recent dip. But can DOGE bounce back?

Expert Predicts Bullish Trend for Dogecoin Amid Key Indicator Turning Green

According to crypto analyst Kevin, a key Dogecoin indicator has turned green for the first time since 2020.He noted on X that the 12-day Gaussian channel on Dogecoin's chart recently flipped green.

This change signals a possible strong bullish trend for the asset in the upcoming months. Kevin emphasized that this indicator has consistently predicted trend changes, implying a bullish reversal for Dogecoin.

In another post, he highlighted Dogecoin's resilience compared to other altcoins, even as the broader crypto market struggles.He believes that if Dogecoin stays above the Macro 0.382 Fib level and the support zone on the weekly chart, it could move into the range of $0.26 to $0.33.

Additionally, Kevin pointed out a bullish pattern in the four-hour chart. He noted that Dogecoin's deviation back into a larger symmetrical triangle is a positive sign.

He stressed the importance of Dogecoin moving above key moving averages and predicted it might test the $0.175 level soon, with significant liquidity. Furthermore, Kevin highlighted a substantial block of liquidity at the $0.175 level, which he considers crucial.

He observed that most liquidity beyond this point lies between $0.20 and $0.23.This is favourable for Dogecoin because market makers typically target areas with high liquidity.

These bullish indicators and patterns suggest that Dogecoin might be on the verge of a significant price surge.If the price breaks through and maintains above critical levels, it could attract more investors and boost market confidence.

Dogecoin (DOGE) to Hit $17, Analyst Predicts

Also, another analyst, Marks, shared a detailed chart on his X account, predicting a massive price increase for Dogecoin.He forecasted that Dogecoin could experience a 21,700% gain, potentially reaching $17 per coin.

Marks based this bold prediction on Dogecoin's historical breakout patterns. Dogecoin has consistently shown more significant gains in past bull runs, with each subsequent bull run outperforming the previous one.

In addition, during the 2017 bull run, Dogecoin experienced a remarkable 7,100% price gain. Then, during the 2021 bull run, Dogecoin outperformed its previous record with an astounding price surge of 22,800%.

These historical gains illustrate Dogecoin's potential for massive price increases during bull markets. Based on these past performances, Marks believes Dogecoin will likely achieve an even more significant gain in the current bull run than in 2021.

He predicts that Dogecoin could see a price rise to $17, driven by its pattern of increasingly larger gains in each bull market.

DOGE Price Analysis: Bullish Indicators Signal Potential Upswing

Dogecoin has dipped nearly 2% in the past 24 hours. However, several technical indicators suggest a bullish trend. One key indicator is the Supertrend indicator, whichdisplays a clear buy signal in the chart below.

This indicator helps traders decide whether to buy or sell. When it shows a buy signal, the market trend favours buying. The current buy signal indicates that Dogecoin might soon see a price increase.

Another positive sign is the changing colour of the histogram bars. Previously, these bars were red, indicating selling pressure. They are gradually turning green, meaning that buying pressure is increasing.

Despite the recent dip, the indicators imply that the market might be gearing up for an upswing, making it a potentially profitable move to buy now before the price increases.

Dogecoin Price Slump but Investor Turn to PlayDoge as Presale Nears Target

PlayDoge (PLAY) is a nostalgic gaming token thatdefies the overall market slump. While other meme coins are losing value, PlayDoge is gaining traction and investor interest.

This project has captured the attention of retail investors, leading to substantial financial support. In its ongoing presale, PlayDoge has successfully raised over $4.2 million.

The success of PlayDoge's presale highlights its unique appeal in the meme coin market.Unlike many other struggling meme coins, PlayDoge offers a nostalgic gaming experience that resonates with investors.This distinctive feature sets it apart from the competition and drives its popularity.

PlayDoge: A Fun Way to Earn Crypto with Nostalgic Gaming

Most of PlayDoge's popularity comes from its exciting Play-to-Earn (P2E) game.Players care for an 8-bit Doge pet in this game by playing mini-games and feeding it.

As players nurture their Doge pet, they earn PLAY tokens as rewards. This gaming approach is a unique way to earn crypto income. It combines the fun of old-school games with the potential to make money.

But there's more. PlayDoge also offers a built-in staking feature. Players can boost their earnings by staking their PLAY tokens.The current annual yield for staking is around 199%. More than 94.6 million PLAY tokens have already been staked.

So, players can play the game to earn tokens and then stake those tokens to earn even more.To participate in the presale, just visit its page and follow the process. Right now, one $PLAY is worth $0.00507, whichwill increase in the next few minutes.

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