Here’s Why Dogecoin’s Price Could Recover to $0.15
As the Dogecoin (DOGE) price struggles to stabilize, bulls are taking advantage of the recent dip to buy the meme coin in large quantities. This influx of capital indicates a strong belief that DOGE could be primed for a bounce.
If these strategic purchases continue, DOGE could recover a significant portion of its losses over the past three months. Here’s how.
Dogecoin Bulls Prepare to Pump $50 Million
At the time of writing, the exchange’s market depth data reveals that market participants are ready to buy 500 million Dogecoin once its price drops to $0.0099. To illustrate, the in-series market depth provides insights into the order books of the top 20 exchanges.
At Dogecoin’s current price, this purchase volume represents a $50 million investment in the coin. On the other hand, sellers are preparing to sell 365 million coins, worth $36.5 million.
The increasing presence of buyers willing to buy on the dip suggests that a price rally could come in the coming weeks or months, driven by this demand.
