Dogecoin price seems to be experiencing a continued downtrend. However, the latest Dogecoin price prediction states that DOGE might gain a 20 percent upswing in value soon.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
According to FX Street, the Dogecoin price has been at a critical stage recently as itremains close to a demand barrier, which if broken might result in a major crash. The January 5 dip, however, hints of a possible rise sooner rather than later.
Dogecoin Price Prediction
Investors and traders are keeping an eye on Dogecoin right now, as its price is hovering around a key demand level. A big fall could occur if Dogecoin breaks out; yet, there is a pattern showing that Dogecoin could rise by roughly 20 percent.
As reported by Analytics Insight, Dogecoin has dropped 14 percent in value, following Bitcoin and other altcoins. As the Dogecoin correction progresses, the public may see a bullish scenario, similar to the one seen during the coin’s December 3 drop.
The last time a similar setup was seen was when Elon Musk tweeted that the dog-themed coin would be more useful for payments than Bitcoin. However, it is worth noting that the predicted rally this time is just minor compared to the previous one.
Dogecoin Value
After a 14 percent raise, the Dogecoin price will revisit the immediate resistance barrier at $0.176, assuming the positive narrative holds true. DOGE will be able to peg the 50-day Simple Moving Average (SMA) at $0.187 if it clears this level. This will be a 20 percent increase.
The Dogecoin price is looking bad as a result of the latest fall. As a result, the bear market could persist without providing bulls a chance to recover. DOGE could fall lower if this scenario plays out, with a four-hour candlestick close below $0.151. In this case, Dogecoin price prediction sees it may return to the swing low of $0.129 set on December 4th.
As stated by Analytics Insight, at the present price, 52 percent of holders are profiting, while 61 percent of all Dogecoin holders can be…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
