Technical analysis of Dogecoin (DOGE) indicates a potential increase of 30%.

A breakout in Dogecoin’s price seems probable due to ongoing declines accompanied by an increase in trading volume. Although a slight increase of 0.2323% could occur, bearish pressures remain a concern. Currently, Dogecoin (DOGE) is facing challenges from the market selloff, resulting in a loss of some of its recent gains over the last 24 hours. Nonetheless, the configuration of the coin suggests a possible breakout in the future. Amid prevailing uncertainties, there is growing interest in whether the price of DOGE could rise by 30% or more in the near future. Technical indicators for Dogecoin suggest a potential recovery. As of this moment, the price of DOGE has fallen due to significant selling pressure across various timeframes. Over the last 24 hours, Marketcap indicates that its price has decreased by 3.18%, now standing at $0.2157. The trading volume has increased by 95% in the same timeframe. Meanwhile, the price trends over the last two weeks have varied, as the meme coin has surged by over 25% during this period. Even though the trading range has been narrow, the high volatility has made it difficult to predict the timing or magnitude of any breakout. Analysts have identified a technical configuration that could facilitate a lasting price recovery. Currently, Dogecoin is being traded at a price below $0.225, which is the resistance level, as well as below the 100-day Simple Moving Average (SMA).