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Tag: dogecoin

  • Nearly $1B in Token Unlocks This Week Puts Pressure on These Altcoins

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    Crypto markets are preparing for a wave of selling pressure as more than $998 million worth of token unlocks hit circulation between August 25 and August 31, according to data from Tokenomist.

    The largest scheduled releases include Sui (SUI), Optimism (OP), Jupiter (JUP), and Huma Finance (HUMA).

    Heavy Unlock Schedule

    The token activations consist of several one-off cliff unlocks totaling roughly $185 million per the Tokenomist website, as well as multiple linear unlocks, which will contribute a much larger $813 million.

    Sui tops the list with $161 million worth of tokens, representing 1.2% of supply, set to hit the market. It is followed by Slash Vision Labs (SVL), which will make available nearly 19% of its supply valued at more than $37 million.

    Other notable one-time unlocks include Jupiter’s $27.31 million, Optimism’s $24.30 million, and Kamino’s $13.97 million. Huma Finance, meanwhile, will add nearly $10 million worth of its native cryptocurrency, amounting to more than 21% of its supply, to circulation.

    Linear unlocks will stretch across several major assets. Filecoin alone will see more than $22 million worth of its FIL token released daily for a total of about $156.39 million over the week.

    Solana is also scheduled for significant unlocks, amounting to over $104 million, with each day seeing about $14.87 worth of new SOL hitting the market. Meanwhile, Dogecoin (DOGE) faces just over $3 million in new tokens each day.

    Elsewhere, Avalanche’s circulating supply will expand by about $2.5 million daily, and Worldcoin (WLD) will see close to $5 million in fresh tokens entering the market each day of this week.

    Market Outlook

    Investors may be particularly alert to the performance of HUMA, which set a new all-time low at $0.0254 today according to CoinGecko, down more than 78% from its May peak.

    Other unlock-bound tokens are also showing strain, with Sophon (SOPH) losing 9% in the last seven days, while Renzo (REZ) dropped almost 7% in the last 24 hours and was trading 95% below its 2024 high at the time of this writing.

    Solana is also in the spotlight. In a recent interview, BitMEX co-founder Arthur Hayes said he prefers to back Ethereum over SOL for the current cycle, suggesting ETH offers stronger upside potential. However, the asset has risen by more than 10% in the last week to just over $200, even though it shaved off 3.4% in the past day.

    Meanwhile, Dogecoin is showing mixed signals. The OG meme coin is trading near $0.23, down more than 4% in 24 hours, with analysts tracking a symmetrical triangle pattern forming on the charts. Support sits at $0.22 and resistance at $0.25, with a decisive move expected soon. One market watcher, Ali Martinez, suggested a DOGE rally toward $0.31 could follow a breakout, while failure to hold support risks a slide to $0.19.

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    Wayne Jones

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  • Bitcoin Flash Crash Roils Crypto Market

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    Crypto prices dipped Monday following a so-called flash crash of Bitcoin on Sunday. And while Ethereum dipped as well, the second most popular cryptocurrency is still up significantly on the month.

    Bitcoin’s weekend crash is being blamed on a single whale who sold 24,000 Bitcoin, according to crypto watchers on X. Bitcoin’s most recent peak hit $117,370 on Friday, not too far from the all-time high of $124,500. But Bitcoin is currently sitting at $112,660, well below recent highs.

    “Bitcoin flash crash today, which wiped out $310M in long positions, has been traced to a SINGLE Bitcoin whale dumping BTC for ETH. The whale sold 24,000+ BTC, including coins that hadn’t moved in 5+ years, sending 12,000+ BTC today alone to the Hyperunite trading platform,” crypto analyst Jacob King tweeted on Sunday.

    “They’ve sold 18,000+ BTC ($2B) so far and are in the process of dumping the remaining 6,000+ BTC ($670M). Most of the money is being moved into Ethereum, $2B bought and $1.3B staked,” King continued.

    That sale seemed to set off a chain reaction and a flurry of selling with $100 billion wiped out in just 24 hours, according to Forbes, as traders seemed to worry about whether the optimism from Jerome Powell’s statements Friday might be a mirage. Powell signaled he may lower interest rates at the next meeting of the Federal Reserve in September.

    But others are more skeptical that the price really swung due to a whale, suggesting that it could be due to “multiple whales,” rather than a single entity, according to The Block. Whatever the reason for bitcoin’s pullback, there’s no doubt that Ethereum has been faring better in recent days.

    Ethereum is down almost 4% over the past 24 hours to $4,637, but is still up 24% on the month, according to CoinMarketCap. Why is Ethereum doing so well lately? There are a lot of different theories, including the popularity of spot ETFs, which now account for about $30.5 billion or 5.2% of Ethereum’s market cap, according to The Street.

    But there’s also just been a lot of hype in mainstream news outlets about Ethereum, with a recent story in the Wall Street Journal touting all the big money that’s “piling into” the cryptocurrency. One of those investors is apparently Peter Thiel, the billionaire co-founder of PayPal. The Journal reports that people close to Thiel believe his “recent bets stem from a belief that the Ethereum network will keep growing.”

    But that kind of hype should probably be taken with a grain of salt. Founders Fund, Thiel’s venture capital firm, quietly sold about $1.8 billion in crypto by the end of March 2022, not long before the crypto crash of 2022. Thiel had cashed out at a time when he was hyping crypto like crazy, telling a crypto conference in Miami around the same time that “we’re at the end of the fiat money regime.” Thiel made no mention at the conference that he was selling at what would be near the top just before a crash, according to the Financial Times, which only revealed his sales in January 2023.

    Thiel really has a knack for buying low and selling high, which is the smart play for any investor with discipline. But that’s obviously not how markets actually work in practice, crypto or otherwise. People buy at the top because they fear missing out, and then get left holding the bag by guys like Thiel. The question, of course, is whether crypto’s most recent highs are sustainable.

    The Trump regime’s embrace of crypto has been great news for the industry, but nobody knows whether the number can continue to just go up, given the uncertainty of America’s economic outlook. There’s also the small problem that crypto is little more than a speculative asset with no inherent value. Despite countless promises from crypto boosters over the past 15 years, the average person isn’t using crypto to actually buy goods on a regular basis.

    The Block reports that big players like BlackRock, Grayscale, and Fidelity have seen $1.4 billion in net outflows for crypto last week, the highest since March, as investors get skittish. Other cryptocurrencies were also struggling Monday, including Ripple which is down 2%, Solana down over 4%, TRON down over 3%, and Dogecoin down 5%.

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    Matt Novak

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  • Is Dogecoin Price Set For A 30% Surge? This Chart Pattern Suggests So

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    Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

    Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

    Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

    When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

    Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
    Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

    Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

    Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

    Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

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    Opeyemi Sule

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  • Analyst Says Dogecoin Price Is Entering Expansion Phase – Here’s What It Means

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    According to crypto analyst Cas Abbé, Dogecoin’s current movement suggests it is stepping into a new expansion phase after an extended period of accumulation. This development comes after months of relatively muted sentiment with strong price support, which now appears to be forming the groundwork for another strong breakout. Notably, technical analysis of various charts tracking Dogecoin’s hash rate, CVDD levels, alpha pricing, and network stress index provides context to this technical outlook, which might see Dogecoin surge to new price highs.

    Signs Of An Expansion Phase In Dogecoin

    Taking to the social media platform X, crypto analyst Cas Abbé explained a few reasons as to why the Dogecoin price is about to enter into an expansion phase. The first being that Dogecoin has been trading inside a wide accumulation range in the past few months. This base has been at the $0.20 price level since the beginning of August.

    This type of prolonged base-building is mostly always known to precede sharp upward moves, as it reflects the gradual buildup of strong demand. Furthermore, the analyst noted that the current breakout attempts are backed by rising trading volume, which he interpreted as institutional accumulation. This is unlike past Dogecoin bull cycles, which were mostly based on retail hype.

    Technical momentum indicators such as the Relative Strength Index (RSI) are currently in a mid-range position, and this means that Dogecoin still has significant room to climb before hitting overbought conditions.

    Another factor is the Dogecoin mining hash rate chart. As shown in the image below, the hash rate has been rising massively since the beginning of 2025, showing that network strength has been steadily climbing even during price consolidations and declines.

    Historical Patterns Back Expansion Outlook

    One of Abbé’s key points is that Dogecoin’s price cycles have consistently followed a similar pattern of long sideways stretches followed by sudden vertical expansions. This cycle structure can be seen in the cumulative value days destroyed (CVDD) chart. As shown in the chart below, Dogecoin’s price action stayed well within its accumulation zones before breaking higher in 2018 and then in 2021.

    However, unlike the peaks in 2018 and 2021 where on-chain metrics were overheated, current conditions are calm, which shows more of genuine accumulation rather than profit-taking and distribution.

    The expansion phase is not about short-lived spikes but rather the start of a new directional trend that could redefine Dogecoin’s price structure. Although the analyst did not define a price target, technical analyses from other analysts point to price predictions that will take the Dogecoin price well above its 2021 peak of $0.7316 into the $1 threshold and beyond. A similar analysis by crypto analyst Javon Marks points to a Dogecoin price target of $1.25.

    At the time of writing, Dogecoin is trading at $0.237, up by 9.5% in the past 24 hours.

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Dogecoin About To Explode? On-Chain Models Hint At A Massive Rally

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    An emerging set of on-chain and market structure signals suggests Dogecoin could be coiling for a fresh advance, according to analytics platform Alphractal, which published a new chart pack and methodology notes on X on August 21. The firm argues that miner resilience, a stable “Network Stress Index,” and model-derived bands such as Alpha Price and CVDD have lined up in a way that historically preceded major DOGE trend accelerations.

    $1 Dogecoin Back In Play?

    “Dogecoin’s miners remain incredibly resilient, with hash rate activity pushing toward record highs,” Alphractal wrote, before posing the core question animating its latest study: “Could trading around True Market Mean Price and models like Alpha Price and CVDD pave the way for a potential new all-time high in DOGE?”

    Dogecoin hash rate
    Dogecoin hash rate | Source: X @Alphractal

    At the foundation of the call is a composite gauge the firm calls the Network Stress Index. It blends three dimensions of chain health and pressure—“Fee Stress (fees / market cap – 40% weight), Hash Stress (30-day hash rate volatility – 30% weight), [and] Supply Stress (7-day active supply volatility – 30% weight).”

    Related Reading

    As Alphractal summarizes the read-through: “Higher values suggest potential instability or major transitions. Lower values reflect a balanced network across economic, security, and activity dimensions.” In the current regime, the firm says the indicator “signals stability — showing no warning signs of network risk.”

    Dogecoin Network Stress Index
    Dogecoin Network Stress Index | Source: X @Alphractal

    Beyond raw network conditions, Alphractal overlays two valuation and cycle tools it says have been reliable for UTXO chains such as DOGE, Bitcoin and Litecoin. “Our Alpha Price model works like a magnetic force for sentiment,” the firm noted, describing a behavioral anchor that price tends to respect over time.

    It pairs that with an adjusted version of Cumulative Value Days Destroyed (CVDD), a metric that tracks the age-weighted value of coins moving on-chain. “Our advanced CVDD adjustment has proven to be one of the most accurate tools for identifying tops and bottoms in UTXO blockchains like DOGE, BTC, and LTC,” Alphractal wrote.

    Dogecoin Alpha Price
    Dogecoin Alpha Price | Source: X @Alphractal

    Where those models sit today is central to the thesis. “Currently, the CVDD Top sits at $0.54, but it can climb higher as dormant Dogecoins move — potentially pushing targets above $1,” the post states. The implication is explicitly conditional: if a rally entices long-inactive supply to circulate, the top band would ratchet upward, turning $0.54 from a ceiling into what Alphractal calls “just the starting floor, with euphoric network activity driving further upside.”

    Dogecoin CVDD
    Dogecoin CVDD | Source: X @Alphractal

    The firm frames miner posture as a reinforcing pillar. With hash rate activity “pushing toward record highs,” the view is that security spend and miner participation leave the network well positioned “for a surge in global demand.” That strength, together with price action clustering near what Alphractal labels True Market Mean Price, is presented as the setup phase that has preceded prior Dogecoin expansions on the attached Network Stress, Alpha Price, and CVDD charts dated August 21.

    Related Reading

    Even so, the message is not unqualifiedly bullish. Alphractal closes with a risk caveat tailored to crypto’s current market microstructure: “This opportunity may be sustainable… Still, with leverage building across crypto markets, traders must remain cautious of sudden traps and mass liquidations as DOGE gains momentum.” In other words, while the model complex sketches a constructive backdrop, positioning and derivatives dynamics could inject sharp downside shocks along the path.

    Taken together, Alphractal’s work posits a simple, testable roadmap: a stable network, resilient miners, and price hewing to historically meaningful on-chain bands create room for upside, with the CVDD “Top” currently marked at $0.54 and mechanically capable of rising toward and “above $1” if dormant supply awakens. Whether Dogecoin converts that setup into a full breakout will hinge on the interplay between organic spot demand and a leveraged market prone to abrupt squeezes in both directions.

    At press time, DOGE traded at $0.218.

    Dogecoin price
    DOGE holds above the EMA200, 1-day chart | Source: DOGEUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Dogecoin Coils Up: Triangle Break Could Spark 40% Move, Analyst Says

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    An analyst has pointed out how Dogecoin is consolidating within a triangle pattern that could set up a 40% move for the memecoin’s price.

    Dogecoin Is Trading Inside A Symmetrical Triangle Pattern

    In a new post on X, analyst Ali Martinez has talked about what the triangle that Dogecoin’s 12-hour price is trading inside right now could foreshadow for it. A triangle is a consolidation channel in technical analysis (TA) that forms whenever the price of an asset trades between two converging trendlines.

    The upper line of the pattern is likely to be a source of resistance, while the lower one that of support. If the price manages to break past either of these boundaries, it may see a sustained trend in the direction of the break.

    Triangles can be of a few different types, but the one that’s of interest here is the Symmetrical Triangle. This variant appears when the trendlines involved are approaching each other at a roughly equal and opposite angle. In other words, the Symmetrical Triangle corresponds to a period of consolidation in a range that tightens with time in an exactly sideways manner.

    Now, here is the chart shared by Martinez that shows the pattern that the 12-hour price of Dogecoin has been stuck inside for the past month or so:

    As displayed in the above graph, Dogecoin found rejection at the upper level of the Symmetrical Triangle a few days back and has since declined toward its midway point.

    Generally, triangle breakouts become more likely to happen the closer the price gets to the apex of the pattern. From the chart, it’s visible that DOGE’s 12-hour price is already a decent way into the triangle, meaning that a breakout may be turning increasingly probable.

    Based on the pattern, the analyst believes the coin is preparing for a 40% move. But which direction will this move occur in? Well, in a Symmetrical Triangle, a breakout is usually equally likely to occur in either direction, since the pattern involves no bias.

    On top of that, the memecoin is currently also an equal distance away from either trendline, so it’s hard to say which one it will retest next. As such, it only remains to be seen which way Dogecoin will escape the Symmetrical Triangle from and whether any large move will follow.

    In another X post, Martinez has also discussed about a triangle pattern forming in another altcoin, Worldcoin (WLD).

    Worldcoin Triangle

    As is apparent from the above chart, Worldcoin has just slipped under the lower level of this triangle. “Worldcoin $WLD breakout from triangle formation points toward $0.50!” notes the analyst.

    DOGE Price

    At the time of writing, Dogecoin is trading around $0.21, down more than 3% over the past week.

    Dogecoin Price Chart

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    Keshav Verma

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  • If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst

    If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst

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    Este artículo también está disponible en español.

    Dogecoin (DOGE) has been trading below a key resistance level at $0.143 since October 19, and anticipation is building among investors who believe a breakout may be imminent. The popular memecoin has remained relatively steady, yet this critical level has prevented DOGE from moving significantly higher. 

    Top analyst and investor Ali Martinez recently shared a technical analysis on X, highlighting the potential for a strong rally once DOGE clears this barrier. According to Martinez, a break above the $0.143 mark could trigger a rapid 25% rally, propelling Dogecoin to fresh highs.

    Related Reading

    As market sentiment appears cautiously optimistic, all eyes are on Dogecoin’s performance in the coming days. Investors and traders are watching closely, expecting a decisive move that could set the stage for Dogecoin’s next trend. With the entire crypto market poised for potential shifts, it could be crucial for DOGE to regain momentum. 

    The outcome of this resistance test will likely play a key role in shaping Dogecoin’s path forward, especially if it ignites renewed interest and buying pressure across the market.

    Dogecoin Price Starting To Rise

    Dogecoin is showing renewed strength following a week marked by volatile price action, which included a pullback from a recent local high at $0.149. Now trading near a key resistance level at $0.143, Dogecoin is capturing attention across the market. 

    Prominent analyst Ali Martinez shared a detailed technical analysis on X, suggesting that if DOGE successfully breaks through this resistance, it could trigger a notable 25% rally, pushing the price up to the $0.175 mark. According to Martinez, the $0.143 threshold is crucial for Dogecoin’s short-term trajectory, acting as a potential launchpad for further gains.

    Dogecoin could see a 25% rally up to $0.175 | Source: Ali Martinez on X

    Currently, Dogecoin is testing this pivotal level, and market sentiment is growing optimistic about a breakout, especially as other assets signal readiness for upward movement. The next few days will be critical, with analysts expecting potential bullish momentum across the crypto market that could support DOGE in surging higher.

    Related Reading

    However, should Dogecoin fail to surpass the $0.143 resistance, a period of retracement would likely be necessary to locate lower demand and restore liquidity for the next leg up. A pullback to gather momentum could provide the foundation needed to reattempt a breakout, positioning DOGE for further gains once market conditions align. As Dogecoin teeters on this critical threshold, it’s clear that the outcome of this resistance test will be instrumental in setting the tone for its price action in the near term.

    DOGE Technical Levels To Watch

    DOGE is trading at $0.143 after a minor rally from recent lows at $0.127. This level has proven to be a significant resistance point, as DOGE faces challenges in breaking above it. The overall market is signaling potential upward momentum, but for DOGE to maintain its bullish trajectory, it must decisively break past this $0.143 threshold in the coming hours. Successfully doing so would solidify support for a continued rally, potentially driving the price higher in the short term.

    DOGE testing $0.143 resistance
    DOGE testing $0.143 resistance | Source: DOGEUSDT chart on TradingView

    However, a retracement would likely be necessary if Dogecoin struggles to hold above this resistance. In this case, a dip to a lower demand level around $0.12 could provide the necessary liquidity to reignite buying interest and gather momentum for a subsequent push. This demand zone has previously acted as strong support and could be the fuel DOGE needs to sustain its bullish outlook.

    Related Reading

    As Dogecoin tests these critical levels, traders closely monitor its movements to gauge whether it can break through resistance or if a temporary pullback is on the horizon.

    Featured image from Dall-E, chart from TradingView

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    Sebastian Villafuerte

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  • Price Rallies From DOGE and APE, Bitcoin (BTC) Neared $70K, and More: Bits Recap Oct 21

    Price Rallies From DOGE and APE, Bitcoin (BTC) Neared $70K, and More: Bits Recap Oct 21

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    TL;DR

    • Dogecoin (DOGE) jumped substantially in the past several days, hitting its highest price in 18 months.
    • Bitcoin (BTC) reached a three-month high near $69,500, with predictions of further growth.
    • ApeCoin (APE) surged by over 100% in a week due to a key project launch.

    DOGE’s Impressive Performance

    The biggest meme coin in terms of market capitalization made the headlines toward the end of last week. Back then, it registered a daily price increase of almost 10% following yet another interaction from Elon Musk. Tesla’s CEO was speaking in front of a crowd in Pennsylvania, showing support for the US presidential candidate Donald Trump.

    Asked if he would lead a new potential division (called Department of Government Efficiency) in an eventual Trump administration (should the Republican win the elections), Musk simply answered, “Yeah, DOGE.”

    While Dogecoin (DOGE) experienced some volatility in the following days, it remained in a bullish mode. It currently trades at almost $0.15, representing an 18-month high.

    DOGE Price
    DOGE Price, Source: CoinGecko

    Multiple industry participants spotted the rally, envisioning further gains in the near future. X user Mags, for instance, believes DOGE is about to go “parabolic,” setting a target of approximately $1.17. Others were even more optimistic, with Bark predicting a price explosion to a new all-time high of $4.20.

    How’s BTC Doing?

    The primary cryptocurrency has performed well in the past week, as well. Several hours ago, its price jumped to a nearly three-month high of almost $69,500. Currently, it hovers around $69K, representing an 8% increase on a weekly scale. 

    BTC Price
    BTC Price, Source: CoinGecko

    Crypto X is rammed with users who think BTC could surpass the psychological level of $70,000 and even rise to a new ATH soon.

    Captain Faibik set a midterm target of $88,000, while Mikybull Crypto noted the emergence of a bullish cross for the first time since October 2023. According to the latter, the development might be followed by a massive pump to as high as $120,000 in the following months.

    APE Is the Big Star

    The best-performing cryptocurrency (from the top 100 club) in the past week is undoubtedly ApeCoin (APE). The price of the meme coin is up over 100% for that period, mainly driven by a major achievement.

    As CryptoPotato reported, the team behind the project launched the ApeChain bridge, enabling investors to earn yields on assets such as APE, ETH, and some stablecoins.

    APE’s valuation exploded to $1.66 (per CoinGecko’s data) on October 20, the highest mark since April this year. It slightly retraced in the following hours and is currently trading at just south of $1.50.

    APE Price
    APE Price, Source: CoinGecko
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    Dimitar Dzhondzhorov

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  • Dogecoin (DOGE) Sets Sights on $0.150: Will The Rally Take Off?

    Dogecoin (DOGE) Sets Sights on $0.150: Will The Rally Take Off?

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    Dogecoin is rising above the $0.1350 resistance zone against the US Dollar. DOGE is now showing positive signs and might clear the $0.1450 resistance.

    • DOGE price started a fresh increase above the $0.1320 resistance level.
    • The price is trading above the $0.1350 level and the 100-hourly simple moving average.
    • There is a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair (data source from Kraken).
    • The price could gain bullish momentum if it clears the $0.1450 and $0.1465 resistance levels.

    Dogecoin Price Eyes More Upsides

    Dogecoin price started a fresh increase above the $0.1200 resistance zone. DOGE gained traction for a move above the $0.1320 resistance zone, beating Bitcoin and Ethereum. There was also a move above the $0.1350 and $0.1400 resistance levels.

    The price traded as high as $0.1467 and recently saw a minor downside correction. The price dipped below the $0.1420 level. It traded below the 23.6% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high.

    However, the bulls are active above the $0.1350 level. There is also a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.1320 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1465 level. The next major resistance is near the $0.1480 level.

    A close above the $0.1480 resistance might send the price toward the $0.1520 resistance. Any more gains might send the price toward the $0.1550 level. The next major stop for the bulls might be $0.1585.

    Are Dips Supported In DOGE?

    If DOGE’s price fails to climb above the $0.1465 level, it could start another decline. Initial support on the downside is near the $0.1420 level. The next major support is near the $0.1400 level.

    The main support sits at $0.1335 or the 50% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high. If there is a downside break below the $0.1335 support, the price could decline further. In the stated case, the price might decline toward the $0.1250 level or even $0.1220 in the near term.

    Technical Indicators

    Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

    Major Support Levels – $0.1465 and $0.1500.

    Major Resistance Levels – $0.1420 and $0.1335.

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    Aayush Jindal

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  • Can Dogecoin (DOGE) Hit $1 if Elon Musk Is Appointed Under Trump’s Administration?

    Can Dogecoin (DOGE) Hit $1 if Elon Musk Is Appointed Under Trump’s Administration?

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    TL:DR;

    • The largest meme coin has been on a roll lately, perhaps fueled by the most recent engagement by Tesla’s CEO, Elon Musk.
    • The question arises whether DOGE could skyrocket to the coveted $1 level if Musk indeed takes a role under a potential Donald Trump administration.

    DOGE to $1?

    As mentioned multiple times in the past, Musk has played a crucial role in Dogecoin’s rising adoption and perhaps its price increases due to his continuous support. The landscape around the two became even more interesting earlier this year when US presidential candidate Donald Trump said Musk would head a government efficiency agency under his administration with the acronym D.O.G.E.

    The Tesla CEO confirmed the news earlier this week, highlighting the name during a public appearance. Naturally, this had an immediate impact on DOGE’s price as it skyrocketed to a new multi-month peak.

    DOGE has only doubled down on its gains in the past 24 hours, as it has added another 8% of value. Consequently, the OG meme coin now trades close to $0.145, which is its highest price tag since June.

    The community’s optimism has returned that it could reach the coveted $1 level soon due to Musk’s involvement. However, it’s worth noting that the meme coin retraced heavily in the past despite engagements by the billionaire. Recall that it plummeted by 90% within months from $0.73 to $0.06 back in 2021 and 2022.

    Perplexity Weighs In

    We decided to ask the popular AI solution, Perplexity, about its take on the matter. It admitted that Musk’s support for Trump, whose chances to reenter the White House have been climbing recently, could “create a more favorable environment for cryptocurrencies, including Dogecoin.”

    Nevertheless, the AI chatbot said it is challenging to predict a future price tag for a meme coin because of its highly speculative nature, as its valuation is primarily driven by “social media buzz rather than fundamental utility or adoption.”

    “In summary, while Musk’s involvement in government could catalyze interest in Dogecoin and potentially drive its price up, reaching $1 would require sustained investor enthusiasm and favorable market conditions.” – concluded the ChatGPT rival.

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    Jordan Lyanchev

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  • Dogecoin Breaks Away With 9% Surge: Why This Could Trouble Bitcoin

    Dogecoin Breaks Away With 9% Surge: Why This Could Trouble Bitcoin

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    Dogecoin has broken away from the rest of the market with a 9% surge. Here’s why this could be bad for Bitcoin, according to history.

    Dogecoin Has Registered A 9% Jump During Last 24 Hours

    While most of the cryptocurrency market has seen sideways price action during the past day, Dogecoin has shown to be different as its value has witnessed a notable increase.

    The below chart shows the trend in DOGE’s price over the past month.

    From the graph, it’s visible that the Dogecoin price has claimed the $0.134 mark with this rally and has surpassed the high from last month. The memecoin is now close to the July top, so if this run continues, the memecoin can potentially have a go at it as well.

    In terms of the weekly returns, the latest jump has meant that DOGE is now up more than 24%, which has made it the best performer among the top 50 coins by market cap.

    Dogecoin isn’t the only memecoin that has been rallying; the asset’s cousin Shiba Inu (SHIB) has also enjoyed bullish momentum during the past day, although its jump of 5% is less impressive than DOGE’s.

    This latest focus on meme coins may not be the best sign for the cryptocurrency sector as a whole.

    Market Topped Out The Last Time Memecoins Got The Attention

    According to data from the analytics firm Santiment, the Social Dominance of the memecoins had spiked during the recent Bitcoin top above the $68,000 level. The “Social Dominance” here refers to an indicator that keeps track of the percentage of the discussions related to the top 100 coins on social media that a given coin or group of assets is occupying right now.

    Here is a chart that shows how the Social Dominance of the top 6 layer 1 assets has compared with that of the top 6 meme coins recently:

    Dogecoin Social Dominance

    As displayed in the above graph, the Social Dominance of the memecoins had shot up earlier as Bitcoin and others had rallied, suggesting that investors had started paying attention to these speculative assets.

    This interest in the meme coins, though, ended up coinciding with the market top. “Typically, markets correct when focus shifts away from layer 1’s and toward more speculative assets due to greed,” explains the analytics firm.

    With Dogecoin and Shiba Inu pulling away from the pack during the past day, it seems the investor greed is still high, which can potentially lead to more bearish action for Bitcoin and other top assets.

    From the chart, it’s visible that the market has tended to reach bottoms when attention has shifted back to the layer 1 networks, so it’s possible that this may have to happen again if the sector-wide run has to continue.

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    Keshav Verma

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  • DOGE Soars to an 11-Week High As Elon Musk Resumes Public Dogecoin Interactions

    DOGE Soars to an 11-Week High As Elon Musk Resumes Public Dogecoin Interactions

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    TL;DR

    • Dogecoin saw a notable price increase on a 24-hour scale, possibly due to a recent interaction by Elon Musk during a public event.
    • Despite optimism, DOGE’s RSI suggests it might be overbought and due for a pullback.

    DOGE on the Run

    Dogecoin (DOGE) is the best-performing top 20 cryptocurrency today (October 18), witnessing a 9% price increase and surpassing $0.13. The last time the valuation was trading that high was at the end of July.

    DOGE Price
    DOGE Price, Source: CoinGecko

    The rally could be attributed to Elon Musk’s comments during his recent public speech in Pennsylvania. Tesla’s CEO was asked if he would lead a new potential division (called Department of Government Efficiency) in an eventual Donald Trump administration. He simply answered, “Yeah, DOGE,” receiving applause from the crowd. 

    This is not the first time the leading meme coin has headed north following interaction from one of the wealthiest people on the planet. In March this year, Musk said that Tesla may allow DOGE payments “at some point.” This resulted in a double-digit rally for the token’s price. 

    Two months later, the EV giant officially integrated DOGE as a payment option on its website. The move fueled another substantial (yet brief) spike for the asset.

    Musk has been openly supportive of Dogecoin over the past few years, praising its merits multiple times. At one point, he even referred to himself as the “DOGEFATHER.”

    Is DOGE Poised for Further Gains?

    The latest resurgence of the meme coin caught the eye of numerous analysts. X user Dylan, for instance, said a massive revival of the other altcoins could follow DOGE’s pump.

    Earlier this week, Ali Martinez also chipped in, outlining a rather ridiculous prediction. He presented a chart showing that DOGE could explode to an all-time high of $10 in the following months.

    It is important to note that this would require its market cap to skyrocket to approximately $1.4 trillion. Currently, only Bitcoin (BTC) is close to that target, while the entire capitalization of the cryptocurrency sector is hovering around $2.44 trillion (per CoinGecko’s data).

    Despite the bullish mode as of late, one metric suggests DOGE could head south soon. This is the Relative Strength Index (RSI), whose ratio is currently above the critical level of 70. Such readings typically indicate that DOGE is in overbought territory and might be due for a pullback. 

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    Dimitar Dzhondzhorov

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  • Dogecoin Large Transactions On The Rise — Can This Fuel DOGE Price Recovery?

    Dogecoin Large Transactions On The Rise — Can This Fuel DOGE Price Recovery?

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    Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

    Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

    Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

    When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

    Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
    Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

    Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

    Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

    Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

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    Opeyemi Sule

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  • Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

    Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

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    After a long stretch of muted price action, Dogecoin has finally entered a position where it could be gearing up for a surge. With major developments such as an increase in participation from both small and large investors, as well as indicators turning bullish, the DOGE price looks primed for a major recovery. However, there could be a small roadblock for the meme coin when it comes to achieving this uptrend as one analyst has pointed out the possibility of a further crash from here.

    A Crash Or A Surge For DOGE?

    Crypto analyst Ali Martinez has presented a forecast for the Dogecoin price with mixed signals for the future. The analysis focuses on both the bullish and bearish possibilities for the meme coin as it continues to trade in a trading range. Both of these scenarios are possible, with the Stochastic RSI may win out this time.

    According to the analysis, the Stochastic RSI has made a bearish crossover for the Dogecoin price. This bearish crossover suggests that there is a price crash coming for the altcoin. In this case, the DOGE price could be falling below $0.1 again. Not only this, but Dogecoin may lose around 15% of its value if this bearish scenario were to play out. This could see the DOGE price fall as low as $0.087 in the worst case scenario.

    On the flip side, the Dogecoin price is also showing some bullish tendencies, as the crypto analyst points out. The price is apparently “flirting with a bullish breakout,” which could be significant if it plays out. In this case, the bullish breakout could see the meme coin’s price rise as high as $0.16 and that would mean a 45% breakout from the current price.

    Dogecoin Looking For A Breakout

    The crypto analyst has previously presented bullish scenarios for the Dogecoin price but chalked it up to two key signals. The first of which is the RSI actually making a successful break out of the descending trending on the daily chart. Second of these is a break above the $0.11 resistance on the chart.

    One of these signals had been triggered, with the RSI breaking the descending trendline. However, that has since changed as the Stochastic RSI has actually turned bearish in the meantime. The DOGE price is still trending below $0.1, suggesting that bears are still well in control of the price.

    These developments show more potential for the Dogecoin price to actually crash from here before a recovery. But in the event of a market-wide recovery, DOGE could end up following the uptrend regardless.

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    Scott Matherson

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  • Meme Coin Revival as These Cat-Themed Tokens Lead the Rally: Details

    Meme Coin Revival as These Cat-Themed Tokens Lead the Rally: Details

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    TL;DR

    • The meme coin market saw a strong recovery on September 10, with significant gains from tokens like DOGE, SHIB, POPCAT, and KOIN.
    • Neiro (NEIRO) jumped 450% weekly after being listed on Binance and other leading crypto exchanges.

    A Green Day at Last

    The meme coin sector suffered painful losses in the past several days, with its market capitalization briefly plunging below $40 billion at one point. However, the landscape looks completely different today (September 10), with numerous tokens charting substantial gains.

    The leading meme coin, Dogecoin (DOGE), hit a two-week high after surpassing $0.10, whereas its biggest rival, Shiba Inu (SHIB), saw its price rise by 2% daily.

    Those stealing the show are certain cat-themed memes like Popcat (POPCAT) and Kittekoin (KOIN). The former jumped by 15% in the last 24 hours, while the latter tapped a new all-time high of almost $0.25 after skyrocketing by over 80%. KOIN lost some of the gains in the following hours, currently trading at around $0.18 (per CoinGecko’s data).

    KOIN Price
    KOIN Price, Source: CoinGecko

    Other well-performing meme coins include BRETT (+6%), DOGS (+8.5%), PEOPLE (+16%), SUNDOG (+20%), and many more. 

    NEIRO Keeps Progressing

    The recently launched dog-themed meme coin Neiro on ETH (NEIRO) also found a spot among the biggest gainers. Its price surged by 15% in the last 24 hours, reaching $0.18 for the first time since mid-August. 

    NEIRO Price
    NEIRO Price, Source: CoinGecko

    Its resurgence happened shortly after an interaction with Binance. Specifically, the exchange launched a USDT-margined NEIRO/ETH perpetual contract with up to 75x leverage.

    This type of product enables users to bet on the price changes of the underlying digital assets without actually owning them. The contract offers high leverage, does not have a set end date, and requires traders to maintain a specific margin to keep their positions open.

    Earlier this week, Crypto.com and OKX hopped on the bandwagon, too. The former allowed deposits and withdrawals of NEIRO/ETH via ERC-20, while the latter added NEIRO/ETH on its perpetual futures market.

    The meme coin is up an impressive 450% on a weekly scale, with its 24-hour trading volume surpassing that of higher-ranked memes like BRETT, TURBO, MOG, and others.

    Crypto X is full of analysts envisioning a further rally for NEIRO. Johny – an X user with almost 700,000 followers – thinks the current price zone of $0.18 is the last resistance before a spike to a new ATH. For their part, MoneyLord believes NEIRO could repeat WIF’s success witnessed earlier this year:

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    Dimitar Dzhondzhorov

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  • Dogecoin To The Moon? Crypto Analyst Predicts 440% Price Rally

    Dogecoin To The Moon? Crypto Analyst Predicts 440% Price Rally

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    In a recent technical analysis by popular crypto analyst Big Mike (@Michael_EWpro), the likelihood of a substantial rise in Dogecoin (DOGE) has been spotlighted. Employing a blend of Elliott Wave theory, Fibonacci retracement levels, and crucial indicators such as the RSI and MACD, the analysis presents a bullish scenario that could greatly influence Dogecoin’s market stance.

    Why Dogecoin Could Skyrocket By 440%

    The three-day chart for Dogecoin, as traded on Binance, exhibits a complex structure that suggests the application of Elliott Wave theory, which is essential in predicting price movements based on investor psychology and momentum. The chart indicates the end of a corrective phase and the start of a potential strong bullish trend.

    Dogecoin price analysis | Source: X @Michael_EWpro

    The Elliott Wave pattern on the chart pinpoints several crucial phases. Wave 1 began at a base level below $0.08, marking the onset of bullish momentum and peaked at $0.2196.

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    Following this, the chart shows a corrective phase characterized by an A-B-C pattern. This pattern is key in Elliott Wave theory, representing a market correction after an initial price surge. Here, Wave A starts the correction with a downturn to $0.1189, followed by a slight upward retracement in Wave B to $0.17, and then a more significant decline in Wave C, setting the stage for the completion of Wave 2.

    This corrective phase is vital as it sets up the foundation for the anticipated bullish Wave 3. However, Big Mike predicts wave 2 could push the Dogecoin price down to $0.1032 (which represents the peak of a superior wave 1) before the onset of wave 3.

    The Fibonacci retracement tool is employed to identify potential future support or resistance levels. In this analysis, the 0.618 Fibonacci level at $0.2196 is particularly significant as it marks the peak of wave 1 and a strong resistance point that could influence future price reversals.

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    The analysis also identifies potential long-term resistance levels at 1, 1.414, and 1.618 Fibonacci extensions, priced at $0.3208, $0.4839, and $0.5925 respectively. These levels could play crucial roles if the bullish Wave 3 unfolds as anticipated.

    Historically, the third wave in Elliott Wave theory is often the most dynamic and extensive, indicating substantial bullish potential for DOGE. This wave aims to challenge and possibly surpass long-term resistance levels. Big Mike speculates that wave 3 could reach near the 1.414 Fibonacci extension level.

    A potential Wave 4 might see a pullback to $0.3208 (1.0 Fibonacci level), while Wave 5 could drive the Dogecoin price to $0.6723, representing a 440% increase from current levels. Notably, this is also the peak for the superior wave 3.

    The Relative Strength Index (RSI), currently below 50, suggests a neutral stance for DOGE, indicating potential for upward movement as market sentiment shifts towards buying. The Moving Average Convergence Divergence (MACD) is nearing a bullish crossover, often signaling increased bullish momentum. This indicator is pivotal as it may validate the onset of the strong upward trend projected.

    At press time, DOGE traded at $0.1248.

    Dogecoin price
    DOGE needs to reclaim the 200-day EMA, 1-day chart | Source: DOGEUSD on TradingView.com

    Featured image created with DALL·E, chart from TradingView.com

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    Jake Simmons

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  • Dogecoin Holds Strong Support: DOGE Primed for a Major Move Higher!

    Dogecoin Holds Strong Support: DOGE Primed for a Major Move Higher!

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    Dogecoin is moving higher above the $0.160 resistance zone against the US Dollar. DOGE is holding gains and might aim for a move above $0.1650.

    • DOGE price is moving higher above the $0.160 resistance zone.
    • The price is trading above the $0.160 level and the 100-hourly simple moving average.
    • There is a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair (data source from Kraken).
    • The price must settle above $0.1650 to gain bullish momentum and continue higher.

    Dogecoin Price Holds Support

    In the past few sessions, Dogecoin price started a steady increase above the $0.1500 zone, like Bitcoin and Ethereum. DOGE bulls were able to push the price above the $0.160 resistance zone.

    The recent swing high was formed at $0.1646 before the price started a downside correction There was a drop below the $0.1620 support zone. The price spiked below the 23.6% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high.

    Dogecoin is now trading above the $0.160 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair.

    Source: DOGEUSD on TradingView.com

    On the upside, the price is facing resistance near the $0.1640 level. The next major resistance is near the $0.1650 level. A close above the $0.1650 resistance might send the price toward the $0.1720 resistance. Any more gains might send the price toward the $0.1750 level. The next major stop for the bulls might be $0.1800.

    Downside Correction In DOGE?

    If DOGE’s price fails to gain pace above the $0.1650 level, it could start another decline. Initial support on the downside is near the $0.160 level and the trend line. It is close to the 50% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high.

    The next major support is near the $0.1580 level. If there is a downside break below the $0.1580 support, the price could decline further. In the stated case, the price might decline toward the $0.1520 level.

    Technical Indicators

    Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

    Major Support Levels – $0.1620, $0.1600 and $0.1580.

    Major Resistance Levels – $0.1640, $0.1650, and $0.1720.

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    Aayush Jindal

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  • Dogecoin Whales Buy $112 Million Worth Of DOGE

    Dogecoin Whales Buy $112 Million Worth Of DOGE

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    Dogecoin (DOGE) has come under the spotlight, with crypto investors looking to have turned their attention to the foremost meme coin. This development is expected to positively impact the meme coin, which has lagged for a while now. 

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    Dogecoin Whales Accumulate 700 Million DOGE

    Crypto analyst Ali Martinez revealed in an X (formerly Twitter) post that DOGE whales have bought over 700 million DOGE ($112 million) in the past 72 hours. This forms part of the current trend with crypto investors turning their attention to meme coins. 

    Trading firm QCP Capital confirmed this trend in a recent market update, stating that traders are “shifting their focus to higher beta meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE). The trading firm also claimed that these meme coins are “polling in the top 10 for open interest” with Shiba Inu and Pepe recording double-digit gains these past few days. 

    These investors are also believed to have accumulated DOGE in anticipation of imminent price gains for the foremost meme coin. Dogecoin has lagged compared to the top meme coins, which have made significant runs in the last seven days. This suggests that the meme coin will likely make a run of its own soon enough. 

    Dogecoin is currently trading at $0.15. Chart: TradingView

    Crypto expert Michael van de Poppe labeled Dogecoin as the “safe bet to have in this cycle” while noting that the “meme coin fiesta” is still on with tokens like Dogwifhat. BONK, FLOKI, and Book of Meme (BOME) “waking up intensively.” Van de Poppe further claimed that Dogecoin is the “easiest play of them all” even though it isn’t moving yet. 

    In a more recent X post, Van de Poppe again claimed that Dogecoin “is such an easy play.” he predicted that the meme coin would record a massive breakout and might reach $1 in this market cycle. 

    In a recent X post, Martinez also suggested that a parabolic surge was on the horizon for Dogecoin. He stated that the market sentiment for Dogecoin is as bearish as it was in early February, just before the meme coin’s price surged by 200%. 

    Why Dogecoin Is One Of The ‘Lowest Risk Trades’ 

    Crypto analyst Altcoin Sherpa mentioned that Dogecoin’s rise to $0.40 is “one of the lowest risk trades this cycle.” The analyst outlined reasons why they hold this belief. Firstly, Altcoin Sherpa stated that retail investors will eventually accumulate as much Dogecoin as they can, which will cause it to experience such price surge. 

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    Secondly, the analyst made reference to the world’s richest man, Elon Musk, and his fondness for the meme coin and stated that “all it takes is one retarded Elon tweet to blow it (Dogecoin) up.” The analyst added that Dogecoin has “great liquidity/low downside relative to other memes.”

    Featured image from Getty Images, chart from TradingView

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    Scott Matherson

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  • Breaking Barriers: Dogecoin Could Double If Key Resistance Crumbles – Analyst

    Breaking Barriers: Dogecoin Could Double If Key Resistance Crumbles – Analyst

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    Dogecoin (DOGE) is currently at a pivotal juncture, confronting substantial resistance levels that could significantly impact its future price trajectory. Crypto analyst Ali highlights a critical resistance zone on DOGE’s chart.

    Despite the asset’ currently facing a price decline, Ali noted that should the Dogecoin price break above this key resistance, we could see a massive rally for the memecoin.

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    DOGE’s Decisive Battle: Overcoming Critical Resistance for Potential Price Surge

    In a post published on May 28, Ali highlighted a critical resistance zone between $0.166 and $0.171, notably bolstered by the collective holdings of approximately 10 billion DOGE held by 75,500 addresses.

    This significant aggregation of Dogecoin at these specific price points forms a strong barrier, complicating the asset’s ability to surge in value.

    Ali posits that if Dogecoin can effectively surpass this resistance, it may trigger a substantial price surge. Breaking through this level could lead to doubling its current price, setting the stage for an assault on the next major resistance mark at $0.322.

    This scenario presents a potentially lucrative opportunity for investors but also requires navigating a densely packed zone of accumulated holdings that could stall or propel Dogecoin’s ascent in the market.

    The importance of this resistance zone is further magnified by current market conditions, where Dogecoin has experienced a correction, decreasing by 4.9% in the past 24 hours and settling at a trading price of $1.633.

    DOGE price is moving downwards on the 4-hour chart. Source: DOGE/USDT on TradingView.com

    This downturn is part of a broader altcoin retreat. Dogecoin’s open interest declined by 8.26% over the past day, although its open interest volume surged nearly 20% in the same period.

    DOGE Futures Open Interest (USD)
    DOGE Futures Open Interest (USD). | Source: Coinglass

    Other Predictions And Market Sentiment Around Dogecoin

    Despite the immediate challenges, some analysts remain optimistic about Dogecoin. Mags, a noted crypto analyst, has recently predicted a potential 700% increase in Dogecoin’s price, propelling it above the $1 mark.

    This bullish forecast is supported by recent improvements in Dogecoin’s on-chain metrics, suggesting a robust recovery and promising prospects for the meme coin.

    Related Reading

    Mags shared his enthusiasm on X, indicating his investment in DOGE over the past few months in anticipation of significant gains.

    Featured image from DALL·E, Chart from TradingView

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    Samuel Edyme

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  • Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead

    Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead

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    Dogecoin corrected gains and tested the $0.150 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1520.

    • DOGE price jumped toward $0.160 before correcting gains.
    • The price is trading above the $0.150 level and the 100-hourly simple moving average.
    • There is a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair (data source from Kraken).
    • The price must settle above $0.1540 to move into a positive zone and start a fresh surge.

    Dogecoin Price Holds Support

    After a steady increase, Dogecoin price faced resistance near the $0.160 zone. A high was formed at $0.1594 before DOGE started a downside correction like Bitcoin and Ethereum. There was a drop below the $0.1540 support zone.

    A low was formed at $0.1488 and DOGE is now consolidating for the next move. Dogecoin is still trading above the $0.150 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair.

    On the upside, the price is facing resistance near the $0.1515 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low.

    Source: DOGEUSD on TradingView.com

    The next major resistance is near the $0.1540 level or the 50% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. A close above the $0.1540 resistance might send the price toward the $0.160 resistance. Any more gains might send the price toward the $0.1650 level. The next major stop for the bulls might be $0.1720.

    More Losses In DOGE?

    If DOGE’s price fails to gain pace above the $0.1540 level, it could start another decline. Initial support on the downside is near the $0.150 level and the trend line.

    The next major support is near the $0.1445 level. If there is a downside break below the $0.1445 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level.

    Technical Indicators

    Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

    Major Support Levels – $0.1500, $0.1445 and $0.1350.

    Major Resistance Levels – $0.1515, $0.1540, and $0.1600.

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    Aayush Jindal

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