Dogecoin Price Prediction 11 June: DOGE Falls 10% – Dip-Buying Opportunity?

cryptonews.com:

The Dogecoin price has dropped by 2% in the past 24 hours, with the meme token’s fall to $0.1416 also marking a big 10% loss in a week.

DOGE’s slip today comes as the crypto market as a whole declines by 2.5%, following Bitcoin’s stumble to just over $67,000 overnight.

But while Dogecoin has also lost 14% in a fortnight, the altcoin holds onto a healthy 125% rise in the past year.

This longer-term momentum should help it recover soon, and its discounted price is likely to entice new buyers very soon.

DOGE’s chart looks pretty bad at the moment, but the implication of its current state is that the meme token’s price should rebound strongly very soon.

Its relative strength index (purple) is a case in point, having dropped just below 30 a couple of hours ago, and looking like it may have just about begun recovering.

Also at a bottom is DOGE’s 30-day moving average (orange), which has fallen very sharply below the 200-day average (blue) in the past few days.

Normally, the 30-day doesn’t fall that far below the 200-day without recovery coming soon after, so it does seem likely that DOGE will bounce back up soon enough.