Dogecoin Price Analysis: The second largest meme cryptocurrency Dogecoin has been under a correction trend for over two years and witnessed a drop from $0.228 to $0.17 registering a 28.35% loss. Amid the broader market correction, this asset has showcased a lower high formation in daily charts indicating an early sign of market sentiment shifting from buying on dips to selling on bounces. Is there an opportunity for buyers to counterattack?
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Will Dogecoin Price Reclaim $0.2?
Dogecoin Price| Tradingview
The prevailing mid-term outlook for Dogecoin remains positive, tracking along an upward trendline that offers a solid foundation for bulls to possibly mount a comeback. The recent dip in the market saw Dogecoin’s value retract to $0.173, yet it’s still positioned above a pivotal support blend, incorporating the ascending trendline, the 38.2% Fibonacci retracement level, and the 50-day Exponential Moving Average (EMA) curve.
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