Dogecoin (DOGE) Price Vulnerable to Correction Due to Increased Selling Pressure

Dogecoin (DOGE) has been on a rollercoaster ride lately, reaching its highest level since 2021 on November 23. However, the good times didn’t last, as the price has since taken a 12% dip in just two days.

Technical indicators like the Ichimoku Cloud and DMI are pointing towards a potential downtrend for DOGE. Key support levels to watch out for are at $0.34, with a risk of dropping as low as $0.14.

For a comeback, DOGE needs to reclaim resistance levels at $0.43 and $0.48. Only then can it have a shot at hitting the much-coveted $0.50 mark, a milestone that hasn’t been seen since 2021.

So, while things might be a bit rocky for DOGE right now, there’s still hope for a rebound if it can break through those resistance levels. Keep an eye on those key support and resistance levels to see where DOGE goes next!