Krutika Adani
Dogecoin has shown bullishness after recovering a major price level at $0.12. At press time, its price has gained 3.2% to reach $0.1341.
Apart from price action, Dogecoin also has strong network growth in its favour. Dogecoin users have grown from 4.88 to 6.6 million in the last one year.
Dogecoin expects a huge rally this year as chart patterns signal that a repeat of the 2021 bull rally might occur. In 2021, Dogecoin rallied more than 18000% to reach $0.64.
If DOGE repeats its 2021 rally, the price might reach $17 by the next year. In the near term, DOGE is expected to reach $0.49.
Dogecoin has strong support at $0.12 and resistances at $0.17, $0.20 and $0.28.