In the last 24 hours, Dogecoin 
dogeusd It increased by 1.64% to trade at $0.1714. This suggests that the meme coin may have hit bottom. In particular, Doge has finished its sellout phase and flashed some bullish signs suggesting it is ready for the rally.
MACD refers to potential DogeCoin recovery
TradingView data shows that Dogecoin’s moving average convergence divergence (MACD) indicator supports a bullish trend reversal of memecoin.
To be clear, MACD helps market observers monitor and identify trend changes, momentum, and potential purchase and sales signals.
Dogecoin’s MacD line shows that meme coins were flattened from late February to March. It appears that the MACD line is likely to rise beyond the signal line, and such development could trigger a price increase for Doge.doge Price Chart. Source: tradingView/coinmarketcap”>
This set Doge at $0.20 on the recovery pass, and Meme Coin was stuck for about 11 days. Analysts expect Doge could go to a higher level if prices stabilize. However, Doge is below this level of support and recent rebound movements could mark a shift.
At the time of reporting, Doge Price had changed hands in the crypto market at $0.1715. However, Doge Investors is not actively involved with Meme Coin as trading volumes increased by 32.09% to $1.02 billion.
Can Doge reach $4 in the long term?
Analysts say investors are still cautious given the formation of Death Cross in Doge Price Chart. This is because the 23-day moving average exceeded the 200-day moving average, causing slips between $0.24 and $0.16. Furthermore, analysis shows that another death cross is likely pending.
However, some people expect Doge to be as high as $4 in the long run if the MACD indicator flashes a bullish signal. According to Ali Martinez, Doge’s price chart can be moved to $4 if it is maintained between $0.16 and $0.19.
The next few days will show whether Doge can retain its current price action and begin a journey to a higher level than expected.
