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#Dogecoin 's Movement After the Drop is Curious: Hopeful Comments Arrive

Dogecoin (DOGE), the cryptocurrency's leading memecoin, has fallen 22% this week. $DOGE is almost 70% below its all-time high of $0.73. Following last night's drop, analysts are optimistic about Dogecoin's future price performance. So, what should we expect next?

Could Dogecoin Be on the Verge of a Major Uptrend?

There are certainly expectations for an altcoin season in the last quarter of the year. However, after last night's drop, those dreams seem dashed again. Despite the decline, some analysts are predicting a new price rally.

Analysts at Bitcoinsensus have claimed that Dogecoin is on the verge of a significant upward movement on the social media platform X. They cited the rising trendline support line on Dogecoin's weekly chart as a sign of a potential uptrend.

The analysts made this prediction basedon a model. According to their analysis, Dogecoin is mirroring the patterns of previous rallies, which saw price increases of 300% and 500% between September and November of last year. Analysts say DOGE is holding up well despite the decline, as it remains above its critical support level of $0.14.

Bitcoinsensus has projected a potential target of $1.30 for Dogecoin. From its current price level, this represents a remarkable 800% rally for investors.

Where's DOGE's Target?

Looking ahead, Dogecoin faces significant resistance levels that must be overcome for a sustainable recovery. Memecoin's price has been rejected three times at $0.24. There are also additional hurdles at $0.27 and $0.28. A breakthrough in these areas is likely to pave the way for a move toward $0.30.

Conversely, if DOGE pulls back, strong psychological support will be found at $0.14. Accordingly, the $0.21, $0.19, and $0.16 levels have historically been considered significant jumping-off for the token.

$DOGE #DODE
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