Dogecoin may grow by 100% in the fall

After an unfavorable August, which brought significant drops in the cryptocurrency market, the price of Dogecoin DOGE $0.10 Binance-Peg Dogecoin -0.22% Market capitalization $0.27 billion VOL. 24 hours $87.71 million also experienced a downward correction. However, amid the general decline, many digital assets are beginning to look for support for a possible correction. Dogecoin, according to analysts, may show a rapid recovery, which will lead to a doubling of its price.

Dogecoin’s price is currently forming a so-called «downward wedge,» which is a signal of a possible breakout of the price upward. The first significant support level is at $ 0.096, and holding it is key to continuing the uptrend. If Dogecoin manages to break through this level, we can expect growth to $ 0.151.

A breakout of this level could be the beginning of a significant growth that could raise the price of Dogecoin to $ 0.19. However, analysts warn that there is another significant obstacle on the way to this level — the resistance level just above $ 0.19, which will be more difficult to overcome.

However, there is a risk that Dogecoin may lose support at $ 0.096, which could lead to a further decline in price to $ 0.080-$ 0.087. Investors are advised to keep a close eye on price movements, as a drop below this level could ruin all positive forecasts.