Dogecoin Price Prediction as DOGE Approaches Ripple’s XRP in Coin Rankings – Can DOGE Reach $10?
The Dogecoin price has dropped by 2.5% in the past 24 hours, slipping to $0.1579 on a day when the wider crypto market has remained flat.
DOGE is now down by 3.5% in a week and by 2% in a month, yet the meme coin holds onto a 115% gain in the past year.
This progress has enabled Dogecoin to approach XRP in the market cap rankings, with the meme token only $6 billion away from overtaking XRP, which has stagnated this year as Ripple waits for its final settlement with the SEC.
And with interest in meme tokens growing as the wider market becomes more bullish, the Dogecoin price could certainly see some fresh gains in the near future.
What DOGE’s fall today means is that the coin has delved deeper into oversold territory, which is positive insofar as it provides an opportunity to buy the dip before a rebound.
Its relative strength index (purple) has declined from nearly 70 yesterday to 40 today, while it has space to fall further before things correct.
Looking at DOGE’s 30-day average (orange), the coin seems to have suffered for long enough and should be ready for some rallying soon, given that the 30-day has been below the 200-day (blue) for most of the past week.
What’s also encouraging is that the alt’s resistance (red) and support (green) levels are triangulating towards each other, nearing a pinch point that often leads to big moves.
And when combined with the low volume at the moment, one big buy from a whale could send the Dogecoin price flying.
It seems that quite a few traders believe that DOGE still has strong potential, at least based on previous history and where the overall market seems to be moving.
Weekly reminder that $DOGE is going to do something stupid later this year and there's nothing you can do about it
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