Dogecoin: How DOGE Can Surge If It Holds Current Support Level

Despite a difficult August that saw the asset plummet nearly 25%, Dogecoin is back on the mend this week. DOGE has started a fresh increase above the $0.100 resistance against the US Dollar. With the asset climbing this week, holding above 10 cents for enough time could bring positive gains, showing its resilience.

The last several weeks have not been great for DOGE. The token has lost more than 20% of its value in the last 30 days, according to CoinMarketCap. Yet, a turnaround may already be taking place. The last 24 hours have seen the crypto increase more than 2% to reach its current $0.10 level.

With September around the corner, the altcoin market also hopes for a stellar recovery. Most of the bullish bets are placed on Ripple (XRP) and Dogecoin. Currently, on-chain data reveals a key bullish trend line forming with support near $0.1050 on the hourly chart of the DOGE/USD pair. The coin has teetered around this price point for the last 48 hours but remains steadily past it. This is good news for the immediate future of Dogecoin, as investors hope that this is DOGE’s lowest point for some time.

Also Read: Cardano: Can ADA Flip TRX and DOGE?

Dogecoin Price Prediction Heading Into September

According to Changelly, September will be a bearish month for Doge. The platform adds that the token may drop its price further, causing the meme coin to trade at a modest $0.0892. However, if new market changes come into play, Doge can gain better visibility, shaping its future price by sparking a bullish trajectory. Furthermore, if Dogecoin whales finally get active again, DOGE could see a huge pump as well.

Momentum is only growing as the market starts to shift its sentiment. Therefore, giving more credence to the idea that the token could be set for a massive breakthrough.