Dogecoin Price Prediction for May:

The leading meme coin DOGE recovered from a sharp pullback to test the key support level of $0.1288 through a bearish channel. However, the recent bullish reversal combined with the recovery of the entire market has led to a breakout rally above the 50-day moving average.

The potential demand for Dogecoin is increasing under the dynamic support of the 200D EMA and the bullish crossover of the MACD indicator. Moreover, with the emergence of five bullish candles, the Meme coin is about to break through the $0.1846 level.

If the upward trend continues, the bulls may touch the $0.2403 level and aim for a new 52-week high. Conversely, a reversal from $0.1846 may retest the $0.1288 support level.

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