The Dogecoin price has remained below $0.08 for more than two months after plummeting during the infamous market crash in May 2022. Nonetheless, after rising above $0.15, the price is sending out huge bullish signals for the rest of 2022, which could lead to a significant rally to half a dollar very soon.
The DOGE price is expected to rise significantly in the coming days as it recovers from a significant retest. The price had previously broken through the pivotal resistance at $0.11 and risen close to $0.16. However, following a brief retest to $0.11 levels, the price has fairly recovered and is on its way to reclaiming the position.
A retest from here is expected to push the price towards the third target, which is currently at around $0.14837. However, the price may experience a slight pullback at these levels as the bears attempt to recoup their losses. However, the bulls may maintain their momentum and keep the price above $0.13. With a rebound, the price may continue to rise steadily towards the next target above $0.2.
Meanwhile, the Elon effect on the DOGE price appears to have faded significantly. The claim is supported by a drop in trading volume from more than $1 billion to as low as $184.58 million. However, the bulls are expected to enter as the Dogecoin price approaches the lower support level, which may trigger a significant upswing very soon.
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