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Dogecoin Drops 20% in 30 Days, Eyes $0.22 Rebound
Dogecoin (DOGE) Price Update
- DOGE is currently trading at $0.1621, experiencing a 20% decline over the past 30 days and a 7% drop in the last 24 hours.
- The token's trading volume increased by 48%, with resistance noted at the 20-day EMA of $0.17.
- The weekly chart shows DOGE slipping out of its ascending channel, testing the demand zone between $0.12 and $0.17, where it historically rebounds.
Technical Analysis
- RSI indicates a hidden bullish divergence, suggesting a potential deceleration in bearish momentum.
- If DOGE holds above $0.17, a rebound towards $0.22 is possible.
- A breakdown below $0.17 could lead to tests of support at $0.15 and $0.12.
- Maintaining this level may allow for a potential rally toward $1.
