In the Friday morning intra day sessions, Bitcoin and the major cryptocurrencies experienced price declines, with the largest cryptocurrency by market cap hovering just above the $40,000 mark.
Memecoins like Dogecoin and Shiba-Inu, which briefly swept the cryptocurrency market by storm in 2021 have not seen any major price developments.
Despite the fact that there are no substantial advancements planned for Doge, it remains the most well-known of the memecoins.
The future of Dogecoin is still a mystery, with some rumors circulating regarding prior conversations to make the network proof-of-stake, but no solid plans have been published.
From a low of $0.0036 on January 1, 2021 to an all-time high of $0.74 on May 8, its price soared by more than 20,000 percent. Since then, the price has fallen in line with the rest of the crypto market, and it now trades at $0.135.
Where Will DOGE Price is Heading Next?
The price of Dogecoin is currently mired at $0.1366, and it is coiling into a very tight range as it continues to fight with the bears. The Doge price is currently trading at the lower end of this week’s range and could hit Monday’s lows of $0.1337.
The Doge price may continue to coil in the coming weeks, with lower highs and higher lows. Because the market’s volume profile indicates little volatility, even minor scalps might become difficult.
A close above $0.15 invalidates the bearish argument. The bulls could capture further territory into the $0.18 zone if the Doge price can surge into the $0.15 pivot high, resulting in a 30 percent increase from the current price. At the time of writing Dogecoin is trading at $0.135 and is up by just 0.08 percent in the last 24 hours.