DOGE Price Prediction: DOGE Corrects Flashing "Accumulation" Opportunity, Potential Rebound Aiming Towards $0.241

Due to the saturated bullish sentiment in the market, DOGE is facing a short-term fall. Many investors believe that this decline is a natural pullback rather than the end of the bullish momentum. Despite the recent drop, DOGE is gradually approaching a new starting point, and the long-term outlook remains positive. This "healthy correction" may provide investors with an opportunity to "accumulate" and lay the groundwork for a potential Rebound, even moving towards $0.241.

DOGE investors may soon start accumulating

(Source: Glassnode)

The long-term Net Unrealized Profit and Loss (NUPL) indicator shows that the sentiment of long-term holders (LTH) is more hesitant than during previous rebound periods. In the past, when the NUPL indicator broke the threshold of 0.5, it often triggered profit-taking pressure, leading to a price fall. However, this time, the NUPL indicator broke the threshold earlier, reflecting that as prices rise, market skepticism intensifies, resulting in greater selling pressure. This pullback may lower prices, creating buying opportunities for those who believe in the long-term potential of DOGE.

(Source: Santiment)

Additionally, the 30-day Market Value to Realized Value (MVRV) ratio is also showing signs of change. Currently, this indicator shows that new investors are facing losses of about 2.4%, which brings DOGE closer to the "opportunity zone" (MVRV between -9% and -20%). This is typically a price range where investors start to buy in large quantities, providing an opportunity for a bullish reversal in the near future.

DOGE is still striving to hold the support zone

(Source: Trading View)

The current trading price of DOGE is approximately $0.215, slightly below the support level of $0.218. If the sell-off continues, the price may fall below that support level, heading towards $0.198. A drop below that level would push DOGE into a consolidation zone, which could trigger a reversal and lay the groundwork for a potential rebound.

A drop to $0.198 could stimulate further buying, especially from long-term investors. This move could lay the foundation for a Rebound in DOGE over the next few days. If selling pressure eases and prices begin to reverse, DOGE could rebound from the support level of $0.218 and advance towards $0.241, thereby rejecting bearish arguments and signaling the start of a new bullish trend for DOGE.

Conclusion:

DOGE is currently undergoing a healthy pullback, providing potential "accumulation" opportunities for long-term investors. Despite facing downward pressure in the short term, the NUPL and MVRV indicators show that DOGE is approaching a "buying opportunity zone." If it can hold the key support level and attract new buying interest, DOGE is expected to rebound and move towards $0.241.