Dogecoin’s price decline amidst the bullish market trend will invite several investors into the market. The bulls might take advantage of the present situation and prepare to benefit from the next rally. Fxstreet reports that Dogecoin’s price declined at the multi-year trend line but indicates a bounce back. Dogecoin’s price broke the $0.082 support level on August 16 after a 12% increase; the coin’s price remained below this resistance level for the previous two and a half months. The present demand zone lies between $0.074 and $0.082. Reports indicate that the coin will return to the $0.082 mark, between the horizontal support and decreasing resistance levels. The prices might rise unexpectedly in the future.
An explosion is around the corner
Fxstreet reports that Dogecoin might experience a 13% price shift towards the $0.093 mark. The bullish market trend will likely continue and might push the price to $0.109. The data displays a massive opportunity for big investors. Continuing the bullish trend might result in a 33% increase in Dogecoin’s prices. However, a downfall from the present demand zone will indicate a bearish pattern and a further price decline; in this case, the price might fall to $0.062. Investors need to remain alert to the daily market trends to benefit heavily from the probable price rally.
Indications of the investors’ interests in Dogecoin
Since its inception, the meme coin has never failed to surprise investors. The current rally comes after a price slump earlier. However, the present bullish scenario might take the coin’s prices to new heights and draw loads of investors. However, the crypto market is unpredictable and might take another course which might interest long-term investors in buying to downfall. The coin’s short-term fate remains doubtful at present.