Dogecoin (DOGE) Price at the Foothill of Massive Explosion, May Undergo 10x Rally Very Soon

The crypto space is undergoing a roller coaster ride ever since the markets tumbled in H1 of 2022. Undoubtedly, the bulls attempted at each level to hold back the price, but the bears were pre-determined to restrict the price rally under the pivotal levels.

Dogecoin price also underwent a significant upswing recently which uplifted the position within the top 10. 

Ever since the FTX-led crypto crash compelled the price to drop from $0.101 to reach the lower support at $0.07.

Further, the asset maintained a stagnant trend, mainly due to a huge drop in the trading volume that hampered the volatility to a larger extent.

Meanwhile, the price action also indicates the preparedness of the token to ignite a notable upswing at the earliest. 

Trading view

The Dogecoin price despite being trading within a descending trend for quite a long time has been trading within a bullish ascending pennant.

The crypto space at the moment is experiencing a fresh wave of bearish movements, due to which the price may slice down from the pennant.

However, it could be only for a short while that may certainly be flipped by the bulls very quickly. 

The interim target may lie around $0.1, sustaining above which may ignite a significant upswing towards the next target beyond $0.12.

Once the DOGE price reclaims the position above the monthly highs above $0.16, the possibility of a larger price action is certified.

However, the main target lies around $0.2, that may ignite a bullish wave in the entire crypto space in the coming days.