On Sunday,
September 13
, Dogecoin’s price surged by nearly
3% to reach $0.0848
, continuing its recovery from the August lows.
While some analysts believe the memecoin may be forming a base for a more significant rebound, a familiar obstacle around
$0.09
still stands before DOGE to gather enough support for a clear run to and move beyond
$0.10
.
Dogecoin attempts to leave its decline behind
DOGE traded as high as
$0.08496
at the time of writing, with volume hitting
141.53 million
tokens. Buyers have stepped in when it approached
$0.0
8, keeping DOGE from returning to its recent lows.
The recent rise arrives after a difficult few months for Dogecoin, seeing it drop from above
$0.11
in May and falling briefly to below
$0.07
in August.
That decline has slowed with DOGE mostly between
$0.08 and $0.009
. The tighter range is seen by some analysts as evidence that sellers are losing control.
The road to $0.10 remains difficult
The nearest test is between
$0.088 and $0.09
. DOGE has struggled around the level multiple times since the August rally, and buyers have not been able to keep its price above the level.
If it sees a successful move beyond
$0.09
, it would bring
$0.10
back into view, but as it stands with the latest price, it would need to gain about
18%
to reach that level.
Other analysts have identified more challenging targets of
$0.176 or $0.279
, but these projections still require DOGE to breach
$0.10
and carry its recovery.
DOGE is now getting to look a bit more steady as it climbs, with buying strength evenly dispersed among the price’s range without unusual bursts. Once under
$0.08
, DOGE would start looking less healthy from a recovery perspective as our focus moves to low prices.
Final Summary
- The Dogecoin price rose 2.96% to $0.0848, continuing its recovery from August.
- First, DOGE will need to break the resistance near $0.09 before it can target $0.10.
