BTC$51 463.74


ETH$2 989.26




Binance Coin






Dogecoin: Sad Times for Meme Coin

April 2020

When the market crashes, it does so on everyone’s heads and with every single coin, regardless of whether they are backed by a highly sophisticated solution for decentralized finance or just an Internet meme, like in the case of Dogecoin (DOGE). The 31st cryptocurrency has been moving, or it would be more appropriate to say dumping, in unison with Bitcoin and the rest of the market.

On March 12, the day that has already been labeled as Black Thursday, DOGE had depreciated in value by 27% on the close and by 37% during the day’s price action. The next day - Friday 13, by the way - was no better as Dogecoin kept on falling and had hit the lows of $0.0011 - the depth which this coin hasn’t reached since the fall of 2017, which preceded the legendary bull market of that year. In order to appreciate the magnitude of the price drop, let’s take a look at the chart that depicts the price action of the last three months.

3-months DOGE/USDT chart

Stabilization or another price decline?

Experienced traders should have anticipated this move since Dogecoin had been showing all signs of regression and the development of the bear market - the coronavirus situation has only accelerated this movement. Those who have been short on DOGE since the beginning of February must have made good money, but those who clung tenaciously to this coin now must decide what to do with it in the face of the uncertainty on the cryptocurrency markets and the world economy in general.

Right now, people are dumping risky assets, including cryptocurrencies, en masse, so there is really little to no chance for Dogecoin to go bullish, or even recover to the pre-dump level in the near future, at least for as long as the coronavirus-induced panic keeps the global markets on the decline.

A prolonged consolidation appears to be the optimal scenario for DOGE, which the coin actually realizes at the moment on the 15-minute time frame.

15-minute DOGE/USDT chart

Day traders should keep an eye on the price behavior within Bollinger Bands (BB), an oscillator which was designed to predict the periods of volatility. As of now, Dogecoin has been trading sideways for almost two days, with BB gradually going into an extremely tight squeeze, the release of which already seems a bit overdue. With high volatility approaching, the main objective now is to guess in which direction the price would move.

Given the overall market context, the most apparent presupposition would be that DOGE would experience another price depreciation, although its magnitude shouldn’t be as unprecedented as a few days ago since the world and the markets are gradually adapting to the critical conditions. MACD acts in support of the approaching downward move as both its lines are about to dive below zero, signifying the bearish sentiment on the market. 

The probability of Dogecoin beginning to respect the support levels grows higher as the market becomes more stable. Therefore, day traders should be looking for the following price targets that DOGE could hit over the next few days: $0.0015, $0.0014, and $0.0012. 

1-day DOGE/USDT chart

The situation on the daily time frame remains mostly uncertain, although we do see the formation of the bearish flag pattern, which is very likely to resolve itself to the downside, given a relatively small buy volume and a totally bearish picture on MACD.

Author: Alex Paulson for


Dogecoin's Meteoric Rise: Beyond the Meme and Toward the $1 Dream
Dogecoin's Meteoric Rise: Beyond the Meme and Toward the $1 Dream
Dogecoin Price Forecast: Unveiling the Paradox of DOGE's
Dogecoin Price Forecast: Unveiling the Paradox of DOGE's "Much Wow"
Doge Price Prediction for 10 Years
Doge Price Prediction for 10 Years
Dogecoin (DOGE): The Botched Tick Tock Rally
Dogecoin (DOGE): The Botched Tick Tock Rally
Dogecoin (DOGE): A Classic Example of Price Manipulation
Dogecoin (DOGE): A Classic Example of Price Manipulation
Dogecoin (DOGE) On the Watch for the Bulls
Dogecoin (DOGE) On the Watch for the Bulls
Dogecoin (DOGE) in Fear of Pump Aftermath
Dogecoin (DOGE) in Fear of Pump Aftermath
Will DOGE start barking again in 2020?
Will DOGE start barking again in 2020?
Dogecoin Price Forecast for November 2019
Dogecoin Price Forecast for November 2019

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.6% 77 $51 463.74 -0.08% -0.45% $1 010 486 927 775 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.8% 72 $2 989.26 1.88% 6.23% $359 193 060 603 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999712 0% -0.11% $97 813 617 538 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 71.6% 57 $384.63 2.71% 9.42% $57 518 447 438 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 70.4% 53 $103.22 -1.10% -7.77% $45 514 764 027 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 86.4% 21 $0.543335 -0.62% -3.23% $29 643 580 751 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000012 0% 0% $27 982 661 127 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 69.2% 63 $0.591895 -0.24% -0.91% $20 991 256 654 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 61 $37.09 -0.44% -10.20% $13 990 033 714 AVAX 7 days price change
10 TRON (TRX) TRX TRON predictions 70.8% 57 $0.139211 -0.12% 6.24% $12 253 548 158 TRX 7 days price change
11 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 74.4% 56 $0.139193 0.15% 6.30% $12 251 999 245 WTRX 7 days price change
12 Dogecoin (DOGE) DOGE Dogecoin predictions 90% 14 $0.084720 0.57% -0.18% $12 130 544 821 DOGE 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 69.2% 68 $18.29 -0.72% -7.57% $10 740 590 215 LINK 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 73.6% 47 $7.56 2.21% -2.16% $9 698 270 291 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.