Dogecoin’s Correction Coming To An End?
This Crucial Move Hints At A Bottom For $DOGE
Bearish pressure is building up again around Dogecoin after a slight upward move caused by a renewed bullish sentiment in the general crypto market. While the ongoing volatility may have impacted DOGE significantly, key developments in its price trend paint a positive outlook for the dog-themed meme coin as the upside momentum grows.
Bullish Momentum Building For Dogecoin After Key Move
Since dropping below the $0.20 mark, Dogecoin has faced a robust bearish performance, keeping it well below this level. However, recent analysis hints at a possible floor price for DOGE following a period of substantial price fluctuations and corrections
Delving into Dogecoin’s price action, Trader Tardigrade, a technical expert and investor, revealed a critical move in the DOGE 1-day chart, reflecting growing momentum. This move comes after multiple failed attempts since the beginning of the year.
According to the expert, Dogecoin has successfully recovered from its prior breakdown for the first time. The daily chart shows that the meme coin finally made the move after it failed to reclaim previous breakdowns 3 times, indicating its resilience.
Considering the price action, Trader Tardigrade believes that DOGE may have already reached its bottom and is gaining strength for an upside trend. In the event that Dogecoin has reached its bottom, it suggests that the current correction may have come to a conclusion, and the next price trajectory is upward.
