Dogecoin Price Prediction: Will DOGE Price Surpass YTD High?

• 1 Dogecoin price prediction for December 2023 says the DOGE price may reach the $0.09000 level.
• 2 DOGE crypto price is taking support near to the EMAs.
• 3 The 50-day EMA positively intersected with the 200-day EMA, showing a golden crossover.

Dogecoin price prediction for December 2023 is bullish and suggests it may reach the YTD levels. DOGE price gained positive momentum and trading with a mildly bullish bias. It sustains above the 50-day and 200-day EMAs and showcases an uptrend. 

Moreover, the EMAs in DOGE crypto displayed a golden crossover which further added fuel to the momentum. 

Meanwhile, Dogecoin crypto also witnessed a massive spike in the buying volume visible in green bars. At the same time, the price also began to rise and rallied 30% in a short span of time. It shows crypto whales are alive and getting ready to take the prices toward YTD high. 

In the mid of November, DOGE price suddenly shot up 8% in a single day and attempted to break out of the $0.08500 hurdle. However, the sellers were active in the supply zone, so they rejected the price and succeeded in defending the resistance. 

Later, the price showed a minor retracement toward the 50-day EMA, and buyers again came forward to push it upward. Currently, Dogecoin price is trading at $0.07865 with a one-day decrease of 0.37%. The 24-hour volume to market cap is at 2.24. 

Dogecoin Price Gained Momentum, Are Bulls Back?

Dogecoin price prediction stays bullish for December as well as for 2024. The chart pattern of this crypto shows that prices are in recovery mode and bulls are back. 

The recent rally is supported by a high volume so it increases the probability of sustaining the higher levels. 

DOGE crypto price is bouncing back from the EMA support and seems like very soon it will give another attempt to break the $0.08500 hurdle. If the buyers succeed, it will increase the possibility of reaching YTD in December. 

The analysis suggests the Dogecoin price wakes up after a long consolidation so momentum may continue in December. 

DOGE Price is Quite Volatile, What Does it Indicate?

DOGE Price is quite volatile and trading volume is also on the rise. It shows investors as well as short-term speculators are also active. Therefore, it increases the probability of a fake breakout and breakdown. So, investors must be careful before building longs. 

Conservative investors may wait for confirmation of a $0.08744 breakout for building longs. However, the aggressive players may go long from current levels. 

Conclusion

Dogecoin price prediction for December 2023 favors the bulls and suggests DOGE crypto may reach YTD high. The recent upward move in the price looks reliable and powerful so it’s better to play bullish bets and stay with the trend. 

Technical levels

• Resistance levels: $0.08744 and 0.10509
• Support levels: $0.06554 and $0.05565

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.