According to analysts, the price of Dogecoin may soon rise due to strong support and resistance levels, with a focus on the $0.36 mark.
Key Support Levels for Dogecoin
Recent information shows that 30 billion Dogecoin tokens were acquired in the $0.05–$0.06 range. This creates a strong support zone where most holders are likely to defend their positions if prices decline.
Resistance Level at $0.36
The next key zone is at $0.36, where more than 5.2 billion tokens were moved. This makes this level important to watch, as market participants may begin selling if Dogecoin price reaches this threshold again.
Growth Prospects Above $0.40
Interestingly, data shows that very few tokens were moved above the $0.40 mark. This means there is little resistance at that level. If Dogecoin can break above $0.36, there may be a chance for a rise towards $0.70.
Thus, the current market state and data on support and resistance indicate the possibility of significant price movement for Dogecoin in the near future.
