Dogecoin Price Prediction as DOGE Drops 8% – Time to Buy the Dip?
Dogecoin price is exchanging hands at $0.1198 after losing 8% of its value over the last 24 hours. This $16 billion meme coin grew by over 100% in the past week amid an Elon Musk-triggered rally. Dogecoin proponents backed the rally in droves, compelling bullish forecasts to $1. However, DOGE started giving up some of its gains before the $0.15 level. It now appears to be sitting on top of robust support, slightly above $0.1100. Overhead pressure will increase if holders choose to lock in the gains, but if this support holds, the Dogecoin price could quickly resume its uptrend. Is Dogecoin the Best Cryptocurrency to Short The entire cryptocurrency market is turning its attention to the upcoming Federal Reserve meeting, scheduled to take place on November 2. Market participants expect the regulator to continue tightening its grip on interest rates as it combats inflation. A 0.75% rate hike or, if you like, 75 basis points will likely mount more pressure on riskier as...