Based

Dogecoin

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-faces-potential-price-corrections-despite-recent-gains/" data-wpel-link="internal">Dogecoin Faces Potential Price Corrections Despite Recent Gains</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/dogecoinde-tehlike-alarmi-caliyor-olabilir-iste-kritik-veriler-ve-metrikler" data-wpel-link="internal">Dogecoin</a> (<a href="https://coin-turk.com/dogecoin-madencileri-harekete-gecti-doge-icin-ekim-tahminleri-neler" data-wpel-link="internal">DOGE</a>), despite a nearly 32% increase in the past period, continues to face expectations of ongoing price corrections due to a lack of bullish signals. This situation not only presents a view against a broader market recovery but can also be interpreted as a decline in investors’ interest in <a href="https://en.coin-turk.com/dogecoin-technical-analysis-important-support-and-resistance-levels/" data-wpel-link="internal">DOGE</a>.</p> 
<h2 style="text-align: justify" id="dogecoin-and-investor-outlook">Dogecoin and Investor Outlook</h2> 
<p style="text-align: justify">The decreasing confidence of investors significantly impacts <a href="https://en.coin-turk.com/elon-musk-faces-a-setback-in-dogecoin-related-lawsuit-as-key-lawyer-withdraws/" data-wpel-link="internal">Dogecoin</a>‘s price. Looking at the number of daily active addresses specifically for DOGE, it is seen that the average number of DOGE investors transacting on the network has dropped to 57,000.</p> 
<p style="text-align: justify">This situation also marks the lowest value observed in the last six months. In contrast, data from the last days of October 2023 shows that 41,900 active addresses were transacting.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-341935" src="https://coin-turk.com/wp-content/uploads/2024/04/41-900-doge-coin-turk-com.png" alt="" width="715" height="237"></p> 
<p style="text-align: justify">Based on this view, a growing lack of confidence among DOGE investors could further strengthen the possibility of a decline.</p> 
<p style="text-align: justify">On the other hand, a drop in the Relative Strength Index (RSI) is also among the observed factors. Currently, the RSI continues to be below the neutral line at 50.0, moving towards a bearish neutral zone.</p> 
<p style="text-align: justify">Such a pullback could potentially deepen corrections and disappoint DOGE investors.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-341934" src="https://coin-turk.com/wp-content/uploads/2024/04/30-doge-coin-turk-com.png" alt="" width="677" height="293"></p> 
<h2 style="text-align: justify" id="doge-price-outlook">DOGE Price Outlook</h2> 
<p style="text-align: justify">As of today, Dogecoin is trading at $0.1505, just above a 1% increase, and continues to stay below the $0.151 line. Before the recent price corrections, DOGE was caught in a rising wedge, and a breakout in this pattern could have pushed the meme coin to $0.127.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-341933" src="https://coin-turk.com/wp-content/uploads/2024/04/0-127-doge-coin-turk-com.png" alt="" width="666" height="290"></p> 
<p style="text-align: justify">However, the price movement did not occur as expected. The breakout happened sooner than anticipated, and the correction also occurred earlier than expected, leading to a further drop in Dogecoin’s price. This situation faces DOGE with a fear of decline, needing a 13% increase to reach $0.127.</p> 
<p style="text-align: justify">However, if the resistance seen at the $0.151 level potentially turns into a bounce point, it could invalidate the bearish outlook for the meme coin. It is conceivable that DOGE could rise to a target of $0.160 following this process as part of a price recovery.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/dogecoin-faces-potential-price-corrections-despite-recent-gains/" data-wpel-link="internal">Dogecoin Faces Potential Price Corrections Despite Recent Gains</a></h5>

Dogecoin Faces Potential Price Corrections Despite Recent Gains

Table of Contents

COINTURK NEWS

Other articles published on Apr 18, 2024

Binance gets Dubai crypto license following CZ’s departure: Report

Aptos Labs collaborates with Microsoft, Brevan Howard and SK Telecom to bring global institutiona...

Coinbase Embraces Solana Meme Coin Dogwifhat

Cardano’s price may surprise you after Bitcoin’s halving – Here’s how

Shibarium Network Sees Surge in Transaction Activity

10-Year-Old Dogecoin Wallet Sold 5 Million DOGE, Missed Out On Millions In Profit

Join our free newsletter for daily crypto updates!