DOGE News: Potential 20% Price Move Hinges on Crucial $0.0900 Support

Dogecoin (DOGE) Price Forecast: Crucial $0.0900 Support Could Spark 20% Move

Dogecoin is currently testing a key trend line that previously acted as support in September 2024. If this red trend line fails, the next crucial support lies at $0.0900. A breakdown below both levels could lead to a deeper downtrend. The price action aligns with historical data, where Doge rebounded from the same structure in the past. The chart by Master Kenobi highlights these support levels, with the red trend line controlling price action for months and a yellow horizontal support at $0.0900 serving as a failsafe.

Dogecoin Mining Getting Serious Despite Humorous Origins

Dogecoin, Elon Musk’s favorite cryptocurrency which started as a joke in 2013, made a comeback at the end of last year. Retail investors flocked back to the market to buy Dogecoin. At this year’s Mining Disrupt conference in Fort Lauderdale, Florida, vendors reported that people are actively buying machines to mine the O.G. meme coin. While the conference was mainly focused on Bitcoin mining, coins like Dogecoin and Litecoin also require proof-of-work mining and reward miners for supporting each chain.

DOGE Traders Bank Profits, Eye $0.09 Token With 300% Growth Potential

The Dogecoin Foundation recently formed the Official Dogecoin Reserve by buying up over 10M DOGE. This move aimed to serve as a liquidity backer and caused DOGE prices to briefly reach $0.20 before traders took profits. As Dogecoin solidifies its ecosystem, traders have switched their attention to IntelMarkets (INTL), an AI-powered DeFi platform led by OpenAI and MIT researchers. INTL has raised over $12 million and is attracting both retail and institutional investors.