DOGE/USD Rockets Higher as Price Hits $0.151 High

The Dogecoin price prediction reveals that DOGE records a gain of 59.91% as the coin approaches higher levels.

Dogecoin Price Statistic Data:

• Dogecoin price now: $0.134
• Dogecoin market cap: $17.4 billion
• Dogecoin circulating supply:$132.6 billion
• Dogecoin total supply: $132.6 billion
• Dogecoin Coinmarketcap ranking: #8

DOGE/USD Market

Key Levels:

Resistance levels: $0.200, $0.220, $0.240

Support levels: $0.050, $0.030, $0.010

DOGE/USD is seen trading in the green at the time of writing as the coin spikes above the 9-day and 21-day moving averages with a gain of 59.91%. According to the daily chart, the candle formations keep following the upward movement. Meanwhile, the Dogecoin price has skyrocketed by over 30% in a day and it has jumped above $0.1 for the first time since May.

Dogecoin Price Prediction: Dogecoin Price Could Gain More Uptrends

According to the daily chart reveals, the Dogecoin price turned the corner with the stock markets earlier this week. After convincingly breaching the $0.060 level a few days ago, there has been no return for the cryptocurrency. It has since gone up over 90% among all other coins in the market. Meanwhile, an increase above the upper boundary of the channel could trigger intense buying to the resistance levels of $0.200, $0.220, and $0.240.

Furthermore, the technical indicator Relative Strength Index (14) remains within the overbought region, pointing to the north. On the contrary, the Dogecoin price may hold a support level at $0.130, and if it drops below this support level, it could hit another support at $0.085. Meanwhile, the next support after this is located below the lower boundary of the channel where it may dip to the supports at $0.050, $0.030, and $0.010 if the selling volume keeps increasing.

Against Bitcoin, sellers are attempting to step back into the market while the coin remains above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest level of resistance lies at 800 SAT and above as the technical indicator Relative Strength Index (14) swims within the overbought region.

Therefore, looking at the downside; the nearest support level is located at 600 SAT if the price drops further to create a new low, lower support could be found at 250 SAT and below. Meanwhile, the 9-day MA is above the 21-day MA, which shows that the market may continue to follow the bullish movement.