{"id":171249,"date":"2025-06-09T21:23:10","date_gmt":"2025-06-09T21:23:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/171249\/"},"modified":"2025-06-09T21:23:10","modified_gmt":"2025-06-09T21:23:10","slug":"dogecoins-price-could-rally-by-32-but-heres-the-catch","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/171249\/","title":{"rendered":"Dogecoin&#8217;s price could rally by 32%, but here&#8217;s the catch&#8230;!"},"content":{"rendered":"<ul>\n<li>On-chain metrics revealed that exchanges recorded outflows of DOGE worth $10.90 million<\/li>\n<li style=\"font-weight: 400;\">Traders appeared to be over-leveraged at $0.1776 on the lower side and $0.1868 on the upper side<\/li>\n<\/ul>\n<p>After a prolonged downtrend, <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin (DOGE)<\/a> flashed signs of a strong bullish reversal, with its price action indicating significant upside potential. <\/p>\n<p>In fact, on the four-hour timeframe, the memecoin seemed to face resistance from a descending trendline. At the time of writing though, it appeared to be slowly breaking out.<\/p>\n<p>On the charts, DOGE was trading near $0.185, having recorded a modest price hike of 1.35% over the last 24 hours. After a bout of downside momentum, the memecoin saw rising participation from investors and traders. This finding fueled the crypto\u2019s recovery, with DOGE\u2019s trading volume climbing by over 15% too.\u00a0<\/p>\n<p>Dogecoin (DOGE) price action and technical analysis<\/p>\n<p>According to AMBCrypto\u2019s chart analysis, DOGE could soon be poised for significant upside on the charts.<\/p>\n<p>On the four-hour chart, the memecoin was consistently facing resistance from a descending trendline. However, after consolidating for nearly three days, DOGE seemed to be breaking out of both the trendline and the consolidation pattern at press time \u2013 A bullish sign for the memecoin.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/DOGEUSDT_2025-06-09_17-06-33.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-499970\" class=\"wp-image-499970 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Dogecoin (DOGE) price action\" width=\"1814\" height=\"793\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/DOGEUSDT_2025-06-09_17-06-33.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-499970\" class=\"wp-caption-text\">Source: Trading View<\/p>\n<p>Dogecoin price prediction<\/p>\n<p>Based on its recent price action and historical patterns, if the memecoin successfully breaks out of the trendline and closes a daily candle above the $0.19-level, there is a strong possibility that it could see a massive 32% upside move.<\/p>\n<p>On the other hand, if DOGE\u2019s price fails to sustain itself above the $0.19-level, the consolidation may continue further.<\/p>\n<p>Worth noting, however, that DOGE\u2019s 200-day Exponential Moving Average (EMA) on the four-hour timeframe has been trading above the memecoin\u2019s price. This indicated that the asset may have been on a short-term downtrend.<\/p>\n<p>On-chain metrics flash bullish signals<\/p>\n<p>Given the prevailing market sentiment, traders and investors have shown strong interest in the memecoin, with some taking long positions and others accumulating tokens.\u00a0<\/p>\n<p>DOGE outflows worth $10.90 million!<\/p>\n<p>Coinglass\u2019s Spot inflow\/outflow data revealed that exchanges across the crypto landscape saw significant outflows of $10.90 million in DOGE. Such a substantial outflow, recorded within 24 hours, potentially hinted at accumulation by whales and investors amid the price dip.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/image-2025-06-09T172920.641.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-499973\" class=\"wp-image-499973 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"DOGE Spot Inflow\/Outflow\" width=\"1716\" height=\"479\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/image-2025-06-09T172920.641.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-499973\" class=\"wp-caption-text\">Source; Coinglass<\/p>\n<p>Such a notable outflow ahead of a breakout is a bullish sign and may lead to a hike buying pressure and further upside momentum.<\/p>\n<p>$27.5 million worth of bullish bets<\/p>\n<p>Meanwhile, traders have been strongly betting on long positions. At press time, $0.1776 was the key level where traders seemed to be heavily over-leveraged, with $27.47 million worth of long positions built.<\/p>\n<p>On the other hand, $0.1868 could be another over-leveraged level on the upper side. One where traders built $14.89 million worth of short positions.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/image-2025-06-09T172820.595.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-499972\" class=\"wp-image-499972 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"DOGE Exchange Liquidation Map\" width=\"1458\" height=\"530\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/image-2025-06-09T172820.595.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-499972\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<p>When combining these on-chain metrics with <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">DOGE\u2019s price action<\/a>, it would seem that bulls have been dominant lately. It could also allude to potential upside in the near term.<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/bitcoin-network-goes-silent-lowest-activity-in-months-raises-questions-about-utility\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">Bitcoin network goes silent: Lowest activity in months raises questions about utility<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"On-chain metrics revealed that exchanges recorded outflows of DOGE worth $10.90 million Traders appeared to be over-leveraged at&hellip;\n","protected":false},"author":2,"featured_media":171250,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-171249","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114655515084119608","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/171249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=171249"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/171249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/171250"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=171249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=171249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=171249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}