Dogecoin (DOGE) has had mixed results lately, with the cryptocurrency price falling sharply over the past week but trading volume surging. At press time, DOGE is down 7% today and has fallen more than 18% in the past seven days. On the other hand, DOGE’s trading volume remains encouraging at $2.1 billion, an increase of over 450% from 30 days ago. Therefore, Dogecoin price prediction is very complex.

This trading volume includes multiple recent whale trades, indicating that there is still a lot of interest among big investors in dog-themed meme coins. However, it just doesn't deliver the bang for the buck to show its value. The DOGE whales may just want to sell off their DOGE before the price continues to plummet.

Still, traders expect the coming bull run to drive a recovery in Dogecoin prices. Here is our price prediction for Dogecoin, taking into account its recent trading volume performance and the extent of its likely rebound.

Dogecoin Price Prediction: Will the Asset Bounce Back?

Dogecoin’s 30-day moving average fell below its 200-day moving average over the weekend, according to TradingView data on Dogecoin’s daily performance. This suggests that the bearish reversal is likely to continue for at least a few days. Therefore, DOGE may be preparing for further declines.

At press time, DOGE was trading at $0.1425. However, a sharp decline could drop the asset to ten cents or less. Dogecoin has been trading above that level throughout March, even climbing to $0.20 earlier this month. Now it looks like the currency may fall below $0.10 for the first time since February.

Having said that, Dogecoin’s TV rate remains high, indicating that the coin remains popular and has the potential to rebound in a bull run. As the Bitcoin halving approaches, most investors expect prices to increase for most altcoins and digital currencies, including DOGE. Additionally, Elon Musk’s recent support has boosted DOGE’s price and hype. So while Dogecoin appears bleak at the moment, the near-term price predictions remain extremely positive.

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