Dogecoin Price Prediction: Will $DOGE Price Break $0.1 In June?

Dogecoin Price Prediction: In the daily time frame chart, the DOGE price shows the formation of a falling channel pattern. Over the past seven months, the coin price rebounded twice from the upper trendline and thrice from the lower trendline indicating this pattern is greatly influencing this memecoin.

Timeline of Dogecoin

Dogecoin (DOGE) and Shiba Inu (SHIB) are two of the most popular meme coins in the world. Meme coins are a type of cryptocurrency that is based on a popular internet meme. They are often created as a joke or to poke fun at the cryptocurrency market.

Renowned entrepreneur and Tesla CEO Elon Musk is facing allegations of insider trading in a proposed class action lawsuit brought by investors. The lawsuit claims that Musk manipulated the price of the popular cryptocurrency Dogecoin, resulting in significant financial losses for the investors involved.

The meme-inspired cryptocurrency Dogecoin ($DOGE) has been noticeably lagging market-leading cryptocurrencies so far this year. A key chart indicator, the Bollinger bands, are now suggesting that there's a looming price “storm” ahead for the memecoin.

In a recent tweet, the @DogeWhaleAlert tracker of Dogecoin wallets shared that a couple of hours ago, a massive DOGE transaction was spotted, carrying slightly less than a billion DOGE — a cryptocurrency asset that was initially launched as a meme.

In recent trading sessions, the price of Dogecoin has experienced an upward trend, surpassing a significant resistance level. Over the past 24 hours, DOGE recorded a 1.2% increase, and within the last week, the coin appreciated by 2%.

Dogecoin (DOGE) recorded a significant surge in its network activity over the last two days, processing more than 4 million transactions between May 27 and 28, according to BitInfoCharts. The increase surpassed the number of transactions processed by its more storied rivals like Ethereum (ETH) and Bitcoin (BTC).

Dogecoin Price Analysis: Amidst a volatile market environment, the Dogecoin price has displayed a sideways movement between the $0.075 and $0.069 mark. Using the aforementioned $0.069 as base support this memecoin shows the formation of a double bottom pattern.

According to a series of recent tweets published by the @DogeWhaleAlert wallet tracker, over the past 24 hours anonymous wallets have shoveled slightly over 200 million Dogecoin between each other.

Dogecoin (DOGE), the eighth largest cryptocurrency by market capitalization, might be hinting at a price reversal; a falling wedge pattern has been spotted on its chart, which suggests a bullish trend reversal.

Dogecoin was founded back in 2013 by two programmers – Billy Markus (the legend says that he coded DOGE sitting at home in his underwear, taking just a few hours for that accomplishment) and Jackson Palmer.