Dogecoin Price Prediction: June 5 – Potential for Further Decline

Cryptocurrency markets are showing a decline, with Dogecoin (DOGE) dropping by 1.52% in the last 24 hours as per CoinStats. The hourly chart indicates a downward trend after a failed breakout of local resistance. If this decline continues and the bar closes near support levels, traders might anticipate further downward movement towards the $0.1850 range tomorrow. Longer-term analysis shows a bearish candle closing. If the price does break above $0.1855, accumulated energy may lead to a more significant drop toward the $0.1750-$0.18 zone. From a mid-term perspective, Dogecoin’s rate is far from key levels. This suggests traders should focus on the previous bar’s low; if the price touches or drops below it, further declines are likely towards the $0.17 mark. DOGE is currently trading at $0.1881 as of press time.