DOGE Price Prediction for May 24

Cryptocurrency Market Sees Correction at Start of Weekend

According to CoinMarketCap, most cryptocurrencies are undergoing a correction as the weekend begins. Dogecoin (DOGE) stands out with a notable decline, dropping 3.68% today.

DOGE Price Analysis: Sideways Trading Likely in the Near Term

On the hourly chart, DOGE's price sits in the middle of a local channel, with neither buyers nor sellers showing clear dominance. This suggests sharp price movements are unlikely in the immediate future.

The larger timeframe paints a similar picture. With the meme coin's rate distant from key levels, sideways trading appears probable over the next few days.

Neutral Midterm Outlook for DOGE

The midterm outlook for DOGE remains neutral. Low trading volume indicates a lack of significant buying or selling pressure. Traders can expect consolidation between $0.21 and $0.24 in the coming week.

As of this writing, DOGE is trading at $0.2278.