Dogecoin (DOGE) Price Prediction: Poised For Another Crash, Targets $0.08

Dogecoin price is having difficulty detangling from bearish entrapments despite firmly holding above crucial support. Should sellers have their way, the largest meme coin will be staring at a potential 20% decline before a stronger rebound emerges.

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Dogecoin price has been struggling to break free from bearish entanglements despite holding strong above a crucial support level. If sellers manage to push through, the largest meme coin could face a potential 20% decline before a stronger rebound can emerge.

Dogecoin Price Market Movers: 47.4B DOGE In Loss, Falling OI and Volume, Rapid Network Growth

Dogecoin Price Analysis: DOGE Set For another Crash

Dogecoin price is seen holding support at $0.1, however, its positioning below all three bull market indicators, namely the 20-day, 50-day, and 200-day EMA puts bulls at a significant disadvantage. Over the past two weeks, several attempts have been made to breach $0.11 resistance but each time sellers have stepped in at the top.

The contracting Bollinger bands suggest a potential breakout on either side of the narrow range between $0.1 and $0.11. Considering the heavy resistance at $0.11 with 32.62 billion DOGE in volume, a bearish outcome is more likely.

IntoTheBlock’s IOMAP shows that it would be easier for Dogecoin price to fall to $0.08 than skyrocket above $0.11 unless both the technical and fundamental structures change positively.

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