Like every stock and crypto in the stock market, Dogecoin has experienced a steep price loss. This crypto though, has seen an upward trend of 55% since a massive sell off on June 13th, 2022. Dogecoin prices have gone up $.07 and analysts expect the price to keep going up after testing barriers. This crypto is on many traders’ watch lists for the current week.
Dogecoin has been trading at $.0735 and market watchers fully expect the price to rise further. A 55% rise in prices is heartening and the expected trading price to touch $.24 and higher. The current trend is very bullish and is expected to pull back a bit before going higher. According to technical information, the next test will be at the $.0378. This is considered a great price point and investors are being encouraged to put in a buy stop for the short term.
Analysts say that if the price rise is invalidated, then a breach should be expected to be below the levels of June 13th. Prices would be $.049. If the bears take over, it could result in a massive sell off leading to a 75% decrease in Dogecoin prices, from the current level. Most investors are jittery but also buoyed by the uptick in prices – more than half a million wallets showed purchases of close to 10.8 billion tokens. This is a heartening development and expect to see more activity in the dogecoin sector.