Dogecoin price prediction. Could DOGE slide 14% toward THIS?
Dogecoin’s daily chart still had a foothold. How much downside could open if $0.067 gives way?
Multichain analytics and explorer engine Blockchair revealed that the Dogecoin [DOGE] onchain movement was subdued. The figures pointed to “fading interest,” not a sudden sell-off.
Compared to October, there was 37% less DOGE transacted on-chain. In terms of dollar value, the amount transacted would be even less.
Miner revenue, which is around 13.7 million new DOGE a day, also depends on prices. The miner revenue, which had been around $1.20 million a day last month, fell below the $1 million mark last week.
Why did Dogecoin’s price fall?
Earlier this month, AMBCrypto pointed out that Bitcoin [BTC] and Ethereum [ETH] have faced losses of around 2% and 5% in a week, respectively. The memecoin sector had faced much bigger losses.
The leading memecoin, DOGE, was down 7.94% from the peak at $0.075 it made last week. Pepe was one of the few popular memes with a notable bullish performance recently.
Large liquidation waves across the crypto market further deteriorated sentiment. Long-term investors can wait for the fear to subside before looking to buy.
After DOGE nearly reached $0.50 in late 2024, the pullback to $0.15 looked like a healthy, if deep, correction.
The next rally only reached $0.30 while Bitcoin set new all-time highs. Dogecoin went on to make a series of lower highs.
That weakness carried into the broader bear market. DOGE fell below $0.0805, bringing the next weekly swing low at $0.0556 into view.
Dogecoin price prediction- Brace for another 14% price slide
The 4-hour chart showed a descending channel in progress.
August’s $0.067 swing low still kept the daily bullish structure alive, while the four-hour and weekly charts looked bearish.
DOGE could still bounce toward $0.071–$0.073 within the channel. If $0.067 gave way, the channel lows and the 23.6% downside extension pointed toward $0.059–$0.060. That would mean a drop of roughly 14%.
Final Summary
- The Dogecoin onchain activity has been subdued in recent weeks due to sliding prices and market-wide fear.
- The descending channel DOGE was trading within showed that a sustained downtrend can be expected in the coming days, with a possible bounce toward $0.071-$0.073.
