Dogecoin is one of the popular meme tokens that gained huge attention since the beginning of 2021. The price attracted many strong hands and notable personalities who had thought to hold some due to increasing popularity. However, the Dogecoin price appears to have lost track nowadays and due to which a thick could of uncertainty rounds up surrounding the DOGE price.
Despite multiple drops and manipulations, the Dogecoin price yet successfully kept up the trader’s traction of let. No doubt the price has crashed more than 70% from its highs, yet it’s more than 2000% up since the beginning of the current year and considering the highs, the gains record more than 10,000%.
However, the plot appears to have changed for the Dogecoin as the bulls seem to have exhausted. The price had geared up and was strongly heading to hit the initial target of around $0.3. But a fresh dip dragged the price again around $0.25 signalling the bottom may be in for a prolonged time.
Currently, as mentioned in the chart, the 50-Day MA is acting as the immediate resistance level, and flipping these levels may regain the bullish momentum. However, once the initial resistance levels are broken, the next levels to be attained are mentioned above. These are the short term goals for the dogecoin price, yet after the successful completion, higher highs need to be targeted.
In short, the bulls needs to get into action as the price is again consolidating after a fresh slump. The most important for the dogecoin price is to maintain above the support levels and attempt to reach lower highs. However, by doing so, the initial target of $0.3 could be attainable with fewer efforts, pushing the DOGE price higher.