Dogecoin (DOGE) Price Prediction: Will the Meme-Coin Supercycle Continue Its Bullish Rally?

Dogecoin (DOGE), a meme-based cryptocurrency, has remained in the spotlight as analysts weigh a positive outlook. Amidst the recent upsurge of over 50% in October, the bullish saga may continue this month too.

Dogecoin (DOGE) price analysis reveals a bullish outlook despite a recent correction. After surging over 50% in October, DOGE price continues to trade within an uptrend.

Here's a closer look at the technical analysis and what analysts predict for Dogecoin price in November.

Dogecoin price remained in the spotlight last week as it rallied over 7% in the last seven trading sessions. The meme coin price surged to a high of $0.158 on Monday, November 21. However, a mild profit booking was observed later in the week, with DOGE price correcting over 10%.

At the time of writing, Dogecoin price was trading at $0.158, showcasing a intraday loss of 7.3%. With a market cap of $23.2 Billion, DOGE stood as the 8th largest cryptocurrency.

DOGE price remained in an uptrend after surging past the crucial resistance of $0.1400. It noted a double bottom pattern breakout from the support of $0.128 on the daily chart. Moreover, the token price was trading above the 20-day, 50-day, 100-day and 200-day Exponential Moving Averages (EMA).

Also, the Relative Strength Index (RSI) was seen below the overbought zone with a reading of 58.90. It noted a flattening slope, indicating a slowing down of the buying momentum.

Dogecoin price faced immediate support at the 20-day EMA of $0.1500, followed by the 50-day EMA of $0.1430. On the other hand, the upside resistances were present at the 78.6% Fibonacci retracement level of $0.1670 and the supply zone of $0.1800.

DOGE priceチャートで重要な観察されるのは、50-day EMA（青色線）と200-day EMA（黄色線）のゴールデンクロスが近づいていることです。前回このようなクロスが発生したのは2023年初めで、そのときDOGE価格は5か月間で21,000％以上急騰しました。

Dogecoin price analysis reveals a bullish bias from the daily chart. After surging past the 61.8% Fibonacci retracement level, DOGE price faced rejection from the supply zone of $0.1800.

Meanwhile, more than 63,000 addresses were observed on-chain today. It spiked above the 80,000 level this week, indicating growing investor interest.

The On-Balance Volume (OBV) indicator showed a strong accumulation over the last few sessions. The OBV reading stood at 83.92 Billion, hinting at a positive outlook.

Currently, DOGE bulls need to sustain above the supply region to unlock further gains. A failure to do so might lead to a retracement toward the 20-day EMA zone ahead.

The OI-weighted funding rate remained positive for the past five weeks, around 0.0122% at press time. Usually, a positive funding rate indicates a demand for long contracts. In Dogecoin’s case, it stayed positive as investors anticipated further surges.

However, DOGE price reversed from the supply zone this week and noted a mild profit booking of over 10% in the last 48 hours. But the uptrend remained intact and might hit the $0.200 mark this month.