Summary
TLDR: Dogecoin’s price is showing potential for an uptrend due to investor greed and billions of dollars worth of DOGE becoming profitable. Investors are holding onto their DOGE, leading to a likely price rally. If DOGE breaks $0.168, it could lead to further gains, but failure to do so could invalidate the bullish thesis.
Key Points
1. Dogecoin’s price hints at potential upside and chances of initiating an uptrend are significantly high due to the greed of investors and billions of dollars worth of DOGE becoming profitable.
2. Dogecoin investors see gains as the price is trading at $0.159 with room for growth supported by 9.91 billion DOGE in the hands of holders, worth over $1.56 billion, bought between $0.151 and $0.168, keeping investors pushing towards a rise and away from selling.
3. Dogecoin’s price prediction expects a rally if it can breach major barriers at $0.168 and $0.182, triggering a recovery rally and potential gains, but failing to breach $0.168 and losing support at $0.151 would invalidate the bullish thesis and leave the price vulnerable to further correction.