The Dogecoin price lost more than 30% of its value this summer after dropping by more than 93% from its highs around $0.76, way back in May 2021. Since then the asset is constantly extending the descending triangle but the main concern lies where no attempt at recovery is seen.
In such a case where the DOGE price has been heavily suppressed, can anyone expect a notable upswing ahead?
It is a known fact that the DOGE price has to rise more than 1000% or go 10x from the current market value to reach its highs. Therefore, this price action is only possible if the price ranges above $0.1 at the earliest. However, the technicals suggest that the price may continue to fall as the bottoms are yet to be tested.
The DOGE price showcases a couple of possible price movements in the coming days. The price may either follow the descending triangle and drop below the support levels or consolidate for a while and flip firmly. In case of the prior action, the DOGE price may be restricted to around $0.07 until the month’s close but the later price action may flash the possibility of surpassing $0.1.
However, the September trade is not considered to be bullish and hence if the bears outpower the bulls in the coming days, the asset may continue with its descending consolidation. Therefore, the Dogecoin(DOGE) Price prediction for the end of Q3 may not be bullish, nor bearish either as the price could remain consolidated at around $0.1.