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Tag: DOGEUSD

  • Dogecoin Is Sitting On A Powder Keg: Here’s The Explosion That Will Send Price To $1.3

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    Dogecoin’s price action is working on a rebound after hitting $0.222 in the past 24 hours. Zooming out into a larger timeframe shows the price structure on the weekly timeframe is pointing to an explosive breakout is in the making. Technical analysis shows that the meme coin, which has already shown it can deliver extraordinary rallies, is now sitting on a powder keg that will send it to new all-time highs. Particularly, technical projections indicate that if the current trend continues, Dogecoin could surge to $1.30.

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    Pattern Repetition Points To $1.3 Target

    The first interesting chart observation focuses on how Dogecoin rallies unfold in repeating waves of expansion. This analysis, which was posted on the social media platform X by 

    Kamran Asghar, shows how Dogecoin has been following a repeating structure in the weekly candlestick timeframe chart. 

    In late 2023, the Dogecoin price broke out of consolidation with a 300% surge, followed by another wave in 2024 that delivered a 500% rally from trendline support to resistance. Each cycle began with a bounce from the ascending white trendline shown on the weekly chart below, which has consistently acted as the backbone of Dogecoin’s long-term uptrend.

    Now, the pattern is setting up for what could be an 800% rally, highlighted in the green projection box on the chart below. This move, if completed, would see the Dogecoin price rallying past its current all-time high of $0.7316 and finally breaking above the $1 price level. Particularly, the projection puts Dogecoin rallying more than 800% to reach a price target around $1.30.

    Chart Image From X: Kamran Asghar

    Dogecoin Bullish Channel Still Intact Since 2021

    Another technical analysis looks at a broader view of Dogecoin’s performance over the last four years. Price action on the weekly timeframe is plotted within a colored channel system, starting from the 2021 breakout, as shown in the chart below. The lower orange line has consistently acted as support, while the green midline has worked as a pivot point. Lastly, the upper blue line is serving as resistance.

    DOGEUSD currently trading at $0.23. Chart: TradingView

    At the time of writing, Dogecoin is trading around $0.23, and this is just between the green midline and the orange support, meaning the bullish structure is still playing out. According to analyst KrissPax, who posted the technical analysis on the social media platform X, Dogecoin is still on track to keep moving to the upper band of the channel, which is marked in blue. Reaching this upper band would put the meme coin in the $0.70 to $1.00 range and retesting its all-time high in 2021. However, in this case, the first step would be to break above the green midline, which is currently around $0.4.

    Chart Image From X: KrissPax

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    Meanwhile, Dogecoin is trading at $0.23, up by 1.1% in the past 24 hours. Investors are awaiting the SEC’s approval of a Spot Dogecoin ETF.

    Featured image from Pixabay, chart from TradingView

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    Scott Matherson

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  • Analysts Predict Dogecoin Price Will Explode: Why The $1 Mark Is Inevitable

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    Crypto analysts Kaleo and Mags have predicted that the Dogecoin price will witness a parabolic run, with the potential to reach the $1 mark. This comes amid the top meme coin’s downtrend, which puts it at risk of retesting the $0.2 mark. 

    Dogecoin Price Eyes Parabolic Rally To $1

    In an X post, Kaleo declared that the Dogecoin price will rip to new highs from its current level. He further remarked that it is only a matter of time before prices catch up with institutional interest coming from DOGE treasury companies and ETFs. In line with this, he advised market participants not to “sleep on the king of memes.”

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    Meanwhile, crypto analyst Mags indicated that the Dogecoin price could rally to as high as $1 on this projected parabolic rally. He suggested that there is no way that the “father of all meme coins,” which is supported and shilled by Elon Musk, wouldn’t be able to pull a 3x increase in this market cycle. 

    Mags asserted that the bull run is dedicated to meme coins and that the Dogecoin price will lead the meme coin supercycle round 2. It is worth mentioning that Elon Musk’s lawyer, Alex Spiro, is the Chairman of CleanCore, the foremost DOGE treasury company, which is looking to acquire up to 1 billion coins. The company already holds over 600 million DOGE. 

    As Kaleo noted, institutional interest has also picked up following the launch of REX-Osprey’s Dogecoin ETF, which became the first meme coin ETF to launch. The Dogecoin price had notably surged above $0.3 ahead of the ETF’s launch. However, it has been on a downtrend since the fund launched, indicating that this was a ‘sell the news’ event. DOGE is down over 12% since then, a development which also comes amid a broad crypto market downtrend. 

    DOGE Will Reach Its ATH At The Minimum

    Crypto analyst Javon Marks has predicted that the Dogecoin price will reach its all-time high (ATH) of $0.73 at the minimum. He claimed that, based on historical trends, up next for DOGE is a rally of over 195%, which will send the meme coin to a new ATH above $0.739. His accompanying chart suggested that DOGE can reach the psychological $1 level in the process. 

    Source: Chart from Javon Marks on X

    Meanwhile, crypto analyst Kevin Capital highlighted how the Dogecoin price rallied 400% to $0.48 within a short period last year. He noted that crypto does nothing until it does something, and that it requires an incredible amount of patience and skill. However, the analyst emphasized that anyone can pull off the biggest trade if they can identify and have the conviction to buy at the lows, suggesting that it may be a good time to buy the dip. 

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    At the time of writing, the Dogecoin price is trading at around $0.235, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

    Dogecoin
    DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Scott Matherson

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  • Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level

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    Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

    Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

    With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

    Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

    Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
    In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

    Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

    Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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    Scott Matherson

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  • Dogecoin Bullish Echo: 1-2 Formation Returns As Price Breaks Key Channel

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    Dogecoin is once again showing signs of history repeating itself, with its well-known 1-2 formation returning on the charts. After breaking out of its key $0.22–$0.24 channel, momentum is building as bullish signals align, hinting that the meme coin may be gearing up for another powerful move.

    Breakout From $0.22–$0.24 Marks End Of Consolidation

    Alpha Crypto Signal, in a recent update, revealed a significant development for Dogecoin, noting that the meme coin has successfully broken out of its long-standing horizontal channel. This channel, which had contained its price between $0.22 and $0.24 for an extended period, had been a key consolidation zone for the asset. This decisive breach of the range confirms a major shift in momentum and signals the end of a prolonged phase of stagnant price action.

    The validity of this breakout is further reinforced by a crucial technical indicator: rising volume. As Dogecoin pushed higher, the increased trading volume served as a powerful signal of conviction from the buyers. This strong backing indicates that the move was not a fleeting event but rather a genuine surge of interest, with significant capital flowing into the asset. 

    Following its strong rally, Dogecoin is currently experiencing a healthy and expected pullback from the resistance zone between $0.29 and $0.30. However, this slight retreat is a positive and natural part of a strong uptrend, as it allows the market to consolidate and prevents the rally from becoming overheated. 

    According to the expert, this pullback is presenting a strategic opportunity for traders. Alpha Crypto Signal suggests that any retest of the breakout level, specifically the $0.24 to $0.25 zone, could offer a solid long opportunity. As long as Dogecoin can hold above this crucial zone and maintain its overall bullish structure, the positive momentum from the breakout is expected to continue.

    Dogecoin Pattern Repeats: History Points To Another Pump

    In a recent post on X, crypto analyst CryptoELlTES has revealed a compelling observation about Dogecoin’s price history. He asserts that a specific technical pattern is repeating itself on the chart, one that has consistently preceded every major Dogecoin pump in the past. This historical correlation suggests that the current setup is highly significant.

    According to the analysis, Dogecoin is at the final stage of this “1-2 pattern.” The chart displays the same formation that previously launched the asset into several parabolic moves. Since the market is showing the same bullish behavior that has historically led to explosive growth for the coin, a major upward move could be on the horizon.

    Dogecoin

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    Godspower Owie

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  • Cycle 3 Expectations Show Dogecoin Price Could Cross $10 With This Decisive Break

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    Crypto analyst DOGECAPITAL has predicted that the Dogecoin price could rally above $10. He revealed that the foremost meme coin needs to have a decisive break above a particular level for it to record this parabolic run to the upside. 

    Dogecoin Price Eyes Rally To $10 Based On Cycle 3 Expectations

    In an X post, DOGECAPITAL indicated that the Dogecoin price could rally to $10 based on historical cycle patterns. He noted that in Cycle 3, which is the current cycle, DOGE has already crossed critical price levels and is now approaching the $0.30 range again. The analyst claimed that if the pattern continues, a decisive break above this level could ignite the next parabolic run. 

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    This prediction came as DOGECAPITAL revealed that the Dogecoin price monthly chart reveals a recurring pattern in its price action across each major cycle. He further noted that in every cycle, bullish momentum tends to ignite as the DOGE price nears the intersection of the green and red lines. The analyst added that a parabolic rally typically follows once the price breaks above the yellow line.

    Historical pattern hints at a massive surge | Source: Chart from DOGECAPITAL on X

    DOGECAPITAL noted that, in Cycle 1, the Dogecoin price surged 9,221% almost immediately after crossing the green/red line intersection. Meanwhile, in Cycle 2, a similar setup led to a more parabolic rally of over 24,617% for the meme coin after the same crossover. Now, in Cycle 3, DOGE has crossed the green and red lines and is now looking to break above the yellow line for a parabolic rally beyond $10. 

    DOGECAPITAL stated that historically, each bull run has outperformed the last. He alluded to factors such as growing adoption, less inflation, rising institutional interest, and ongoing technological advancements as what could spark a greater rally in this cycle than the previous ones. 

    A Rally To A New ATH Is Imminent

    In an X post, crypto analyst Kevin Capital suggested that a Dogecoin rally to a new all-time high (ATH) is imminent. He noted that DOGE monthly Stoch RSI crosses during bear markets and bull markets have produced very predictable price action in the past. The analyst added that if the macro continues to align the way it is currently, then it will remain predictable, hinting at a rally to the upside. 

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    Kevin Capital noted that the stars need to align not just from a technical analysis perspective, but also in relation to monetary policy expectations and macroeconomic data. From a fundamentals perspective, it is also worth mentioning that the first spot Dogecoin ETF could launch this week after Rex-Osprey teased about the launch last week. 

    At the time of writing, the Dogecoin price is trading at around $0.23, up over 7% in the last 24 hours, according to data from CoinMarketCap.

    Dogecoin
    DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

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    Scott Matherson

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  • Dogecoin Price Set For Explosive Rally If This Structure Holds

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    The Dogecoin price is at a significant decision point on the chart, and according to a new analysis posted on TradingView, the next move could be explosive. The popular token is trading above a key support area that it has repeatedly tested. If buyers continue to defend this structure, the top memecoin has room to rally higher. However, if the support fails, the bullish outlook could fade rapidly, leaving Dogecoin vulnerable to a deeper pullback. 

    Dogecoin Price Holds Critical 0.5 Fibonacci Support

    According to the TradingView analyst, Dogecoin is consolidating just above the $0.214 level, which matches the 0.5 Fibonacci retracement and the ascending trendline support. The analyst described this support as a “make-or-break” zone for the Dogecoin price. If bulls can keep the price steady here, it may give them the strength to push higher.

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    The 0.214 area is essential as it combines two key supports simultaneously: the Fibonacci 0.5 level and the rising trendline. According to the analyst, this means buyers must hold firm to keep control. The Stoch RSI indicator is also resetting in the middle zone, which shows the market has room for momentum in either direction. In simple terms, it signals that a bigger move could be coming soon, depending on whether buyers or sellers take control first.

    This zone is now watched closely by traders. Holding above it suggests that buyers are still in charge. Falling below it, however, would open the door for a deeper test of lower levels.

    Source: TradingView.com

    Bounce Could Target $0.278, Breakdown Risks $0.197

    The analyst notes that if bulls succeed in defending the 0.214 level, Dogecoin could bounce toward the $0.278 resistance zone. This level they described as a central horizontal supply zone, where sellers may attempt to halt the rally. Breaking past it would confirm strength from buyers and could drive fresh momentum into the market.

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    The analyst cautions about the risks at play here. If the structure fails and price breaks down from the 0.214 area, the next necessary support lies near $0.197, known as the golden pocket. Falling under this level would cancel the bullish outlook and push the price toward the deeper retracement zone at $0.173.

    The analyst says that Dogecoin’s next direction depends on how the price reacts at this level. Bulls need to hold their ground if they want to trigger a run toward higher levels. Sellers, on the other hand, are waiting for any sign of weakness to lower prices.

    At this stage, Dogecoin stands at a decisive crossroads. Market watchers are keeping a close eye to see whether bulls can protect the structure and ignite the bounce toward higher resistance, or if sellers will seize control instead.

    Dogecoin price chart from TradingView.com
    DOGE price struggles above $0.21 | Source: DOGEUSDT on TradingView.com

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

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    Sandra White

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  • Dogecoin Price Risks Crash Below $0.1, But Can Bulls Facilitate This 800% Rally To $1.82 First?

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    New technical analysis suggests that the Dogecoin price is teetering at a pivotal point that could dictate its trajectory for the coming months. According to a crypto analyst, the meme coin faces two stark possibilities: a massive bullish breakout that could catapult DOGE by 800% to a new peak of $1.82, followed by a potential crash that may drag the meme coin’s value below $0.1. 

    Dogecoin Price To See Massive Rally Before Crash

    In an August 31 post on X social media, crypto analyst KrissPax announced that Dogecoin may be on the verge of a dramatic rally if historical price action and Fibonacci Extensions play out. He projected that DOGE could trade up to the 2.618 Fibonacci level this fall, which aligns with the $1.82 price mark. Such a bullish move would represent a remarkable 800% gain from the meme coin’s current value of roughly $0.218. 

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    KrissPax shared a chart showing multiple accumulation zones where Dogecoin held firm despite broader market corrections, indicating that long-term holders could be reinforcing price stability. Although the outlook points to an explosive upside potential for DOGE, the analyst also warned that a looming bearish scenario is still in play. 

    Based on the chart’s trajectory, once Dogecoin hits the projected $1.82 all-time high, the meme coin could experience a steep crash toward $0.09 (0.236 Fibonacci retracement), revisiting its weakest levels since 2023. KrissPax referred to this zone as a “gift” in his chart, suggesting it may offer a chance to accumulate at lower prices. 

    Source: Chart from KrissPax on X

    With the price now hovering near key resistance, Dogecoin appears to be approaching a decisive moment that could determine its next target. For investors, this presents a classic high-risk, high-reward setup that could offer strong gains to early accumulation ahead of a breakout or deliver significant losses if bearish pressure sends the meme coin plummeting. 

    Moving forward, KrissPax indicated that Dogecoin’s current low price, relative to its previous peaks, could be an opportunity for traders to add to their portfolios. He warns that hesitating to buy at discounted levels could result in being left out when DOGE begins another steep climb. 

    $0.23 Identified As Key Breakout Threshold

    In a separate X post, crypto market expert Ali Martinez shared his latest Dogecoin analysis, taking a more bullish stand. He pointed to a symmetrical triangle pattern forming on the Dogecoin 4-hour chart, where price action has been consolidating between tightening support and resistance lines. Based on his analysis, this type of formation often signals an impending breakout, with the direction ultimately determined by which boundary the pattern is breached. 

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    Martinez has identified $0.23 as the critical level to watch. If Dogecoin breaks above this threshold with convincing volume, it could trigger a fresh bullish rally toward higher resistance levels at $0.25, $0.28, and potentially $0.30. The analyst’s chart projection outlines a step-like ascent once the breakout is confirmed, suggesting a sustainable rally rather than an immediate spike.

    Dogecoin
    DOGE trading at $0.21 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

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    Scott Matherson

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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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  • 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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  • 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.

    Related Reading

    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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  • 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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  • Traders Not Showing Dogecoin FOMO, Good Sign For Rally?

    Traders Not Showing Dogecoin FOMO, Good Sign For Rally?

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    On-chain data suggests traders haven’t been showing FOMO towards Dogecoin despite the latest rally, a sign that could be positive for its continuation.

    Dogecoin Total Amount Of Holders Has Remained Flat Recently

    According to data from the on-chain analytics firm Santiment, FOMO, which would normally be associated with tops, has been absent from the Dogecoin market recently.

    The indicator of relevance here is the “Total Amount of Holders,” which, as its name suggests, keeps track of the total number of DOGE addresses that are carrying a non-zero balance right now.

    When the value of this metric goes up, it can be because of a number of reasons. A major one would naturally be fresh adoption, as new investors coming into the sector would open up new addresses and add balance to them, thus raising the indicator’s value.

    Other reasons can include existing users reconsolidating their holdings among multiple addresses (usually for a purpose like privacy) or old investors coming back to reinvest in the meme coin.

    In general, whenever the metric shows this kind of trend, it means that some net adoption of the asset is taking place, which can be a positive sign in the long term.

    On the other hand, a decline in the indicator implies some holders may have decided to exit from the cryptocurrency as they have completely cleared out their addresses.

    Now, here is a chart that shows the trend in the Dogecoin Total Amount of Holders over the last few months:

    The value of the metric appears to have been moving sideways for a while now | Source: Santiment on X

    As displayed in the above graph, the ‘Total Amount of Holders’ for Dogecoin has been flat for many weeks now, implying that the adoption of the meme coin has hit the brakes.

    Interestingly, this sideways trajectory has come despite the fact that DOGE’s price has gone through some volatile price action during this period. Generally, events like rallies are attractive to traders, so a notable amount of them tend to jump into the asset during them.

    It would appear that the traders have either not been paying attention to the recent DOGE rally or just not taking it seriously. In the past couple of weeks, the ‘Total Amount of Holders’ for the meme coin has gone up by only 0.21%, despite the fact that the price has rallied more than 40% in the same window.

    Historically, when a large number of traders join the blockchain at once during price surges, it’s a sign that FOMO around the asset is spreading. Usually, the meme coin’s price tends to go against the expectations of the majority, so when there is widespread FOMO, a top can become likely to take place.

    As there hasn’t been any such FOMO for Dogecoin recently, it’s possible that it could be a positive sign for the rally’s continuation. There is also another signal brewing, however, that may not be so constructive.

    From the chart, it’s visible that the Mean Dollar Invested Age, a metric that keeps track of the average age of DOGE investments, has plunged recently, implying that the experienced hands have been on the move. When this signal formed earlier in the year, the coin’s price approached the top not too long after.

    DOGE Price

    Dogecoin had surpassed the $0.22 level earlier, but it seems the asset has gone through some drawdown as it’s now back under $0.21.

    Dogecoin Price Chart

    Looks like the price of the coin has been going up in recent days | Source: DOGEUSD on TradingView

    Featured image from Kanchanara on Unsplash.com, Santiment.net, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Keshav Verma

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  • Dogecoin Could Hit $1 If History Repeats, Analyst Reveals When

    Dogecoin Could Hit $1 If History Repeats, Analyst Reveals When

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    An analyst has explained that Dogecoin may be able to hit $1 if history repeats for it. Here’s when exactly this could happen for DOGE.

    Dogecoin Has Been Breaking Out Of A Parallel Channel Recently

    In a new post on X, analyst Ali has discussed a potential outcome for Dogecoin based on the historical pattern. Below is the chart for the weekly price of the memecoin shared by the analyst, which reveals a similar-seeming pattern that the asset has followed over the years.

    The trend in the weekly price of DOGE over the last few years | Source: @ali_charts on X

    As Ali has highlighted in the chart, before both of its previous two major bull runs, Dogecoin’s weekly price consolidated inside a specific parallel channel for a notable amount of time.

    The “parallel channel” here refers to a pattern in technical analysis (TA) made up of two parallel trendlines inside which the price of the asset consolidates. Parallel channels can be of different types, like ascending and descending ones, but in the context of the current discussion, channels parallel to the time axis are relevant.

    The upper trendline in such a pattern is drawn by joining together tops, while the lower line connects bottoms. When the price retests either of these lines, a reversal is more probable.

    This means that a retest of the upper line could break the uptrend and cause the asset to go through a drawdown. Similarly, the lower line may be a source of support and help the price reverse itself back up.

    However, a break out of either of these lines can imply a continuation of the trend in that direction. The graph shows that when the weekly price of Dogecoin saw breakouts like this out of the respective consolidation channels the last two times, it went through bull rallies.

    In the past couple of years, it would appear that DOGE has once again gone through a similar period of consolidation as those previous two, and recently, the coin has been breaking out.

    Ali has marked a potential trajectory that Dogecoin could follow in the chart based on the precedent set by these last two bull runs. “This may sound wild, but if history is any guide, Dogecoin $DOGE could hit $1 by mid-April!” says the analyst.

    From the current cryptocurrency price, such a run would suggest an increase of more than 488% for the memecoin in less than a month and a half. Obviously, a rally like this would be super impressive if it ends up playing out like this.

    It remains to be seen what trajectory Dogecoin follows now that it has seemingly broken free of its long parallel consolidation channel.

    DOGE Price

    When writing, Dogecoin is trading around $0.17, up 36% in the past week.

    Dogecoin Price Chart

    Looks like the price of the coin has slumped to sideways movement in the last couple of days | Source: DOGEUSD on TradingView

    Featured image from Crystal Mapes on Unsplash.com, charts from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Keshav Verma

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  • Dogecoin Open Interest Surges To Record $1.49 Billion

    Dogecoin Open Interest Surges To Record $1.49 Billion

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    The Dogecoin open interest (OI) is surging after a week of remarkable price action. The meme coin which rose over 100% has continued to enjoy the attention of investors and traders alike, leading its open interest to reach a new all-time high.

    Dogecoin Open Interest Taps Record $1.49 Billion

    Data from Coinglass shows that there was an exponential growth in the Dogecoin open interest in the first five days of March. The open interest had closed out the month of February $870.22 million. However, only five days later, Dogecoin’s OI has risen to $1.49 billion. This rapid increase in less than one week translates to an over 70% increase in the open interest, reaching a brand new all-time high.

    The increase did not come out of nowhere, as the DOGE price had begun to recover during this time. It closed out February at a price of $0.09, but by March 5, the price has already seen an 100% increase, briefly hitting $0.2 before correcting back downward to its current price of $0.18.

    The open interest represents the interest in the meme coin as it is a total of all of the open derivatives positions in DOGE at any given time. This means that crypto traders are betting more on the price of Dogecoin and taking short and long positions in DOGE at an unprecedented rate.

    Three exchanges currently control the vast majority of the DOGE OI, namely ByBit, Binance, and OKX. ByBit takes the lead, commanding $584.13 million of 3.25 billion DOGE OI. Binance takes the second position with $511.22 million or 2.85 billion DOGE, and OKX comes in third with $194.17 million or 1.08 billion DOGE.

    DOGE Traders Caught In Tug-Of-War

    Presently, the Dogecoin price seems undecided on where it is headed next, which has led to almost equal liquidations across the camps of bulls and bears. As mentioned above, the DOGE price had briefly touched $0.2, leading to liquidations across shorter. However, its downward correction has been just as detrimental to long traders.

    Coinglass data shows that in the last 24 hours, DOGE traders have lost $33.92 million. Interestingly, long traders have actually lost more during this time as they account for $17.44 million in liquidations. While short traders have lost $16.32 million during the same time period.

    On the shorter time frame, long traders are still suffering more losses with $2.26 million lost in the last four hours compared to $453,280 in short positions. However, while this shows bulls are taking a beating, it is also proof that bullish sentiment among traders when it comes to the DOGE price remains strong.

    At the time of writing, DOGE’s price is siting $0.18 with a 7.49% increase in the last 24 hours, and an 85.98% increase in the last week.

    DOGE price at $0.18 | Source: DOGEUSD on Tradingview.com

    Featured image from Markets Insider, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Dogecoin Price Prediction – DOGE Signals Bullish Break, Bulls Aims For $0.10

    Dogecoin Price Prediction – DOGE Signals Bullish Break, Bulls Aims For $0.10

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    Dogecoin is showing bullish signs above the $0.0875 zone against the US Dollar. DOGE could extend its rally toward the $0.100 resistance in the near term.

    • DOGE is showing positive signs above the $0.0875 zone against the US dollar.
    • The price is trading above the $0.0880 level and the 100 simple moving average (4 hours).
    • There was a break above a key contracting triangle with resistance at $0.0842 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).
    • The price could extend its rally above the $0.090 and $0.092 resistance levels.

    Dogecoin Price Aims Higher

    In the past few sessions, Dogecoin price started a decent increase from the $0.082 support zone. DOGE cleared many hurdles near $0.0850 to enter a positive zone.

    There was a break above a key contracting triangle with resistance at $0.0842 on the 4-hour chart of the DOGE/USD pair. It even broke the $0.0880 resistance to move further into a positive zone like Bitcoin and Ethereum. A high was formed near $0.0914 and the price is now correcting gains.

    There was a move below the 23.6% Fib retracement level of the recent wave from the $0.0820 swing low to the $0.0914 high. DOGE is also trading above the $0.0875 level and the 100 simple moving average (4 hours).

    Source: DOGEUSD on TradingView.com

    On the upside, the price is facing resistance near the $0.0892 level. The next major resistance is near the $0.0915 level. A close above the $0.0915 resistance might send the price toward the $0.095 resistance. The next major resistance is near $0.100. Any more gains might send the price toward the $0.120 level.

    Downside Correction in DOGE?

    If DOGE’s price fails to gain pace above the $0.0915 level, it could start a downside correction. Initial support on the downside is near the $0.0865 level.

    The next major support is near the $0.0855 level or the 61.8% Fib retracement level of the recent wave from the $0.0820 swing low to the $0.0914 high. If there is a downside break below the $0.0855 support, the price could decline further. In the stated case, the price might decline toward the $0.0820 level.

    Technical Indicators

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

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

    Major Support Levels – $0.0865, $0.0855 and $0.0820.

    Major Resistance Levels – $0.0915, $0.095, and $0.10.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Dogecoin Price Prediction – DOGE Pump To $0.12 Seems Imminent

    Dogecoin Price Prediction – DOGE Pump To $0.12 Seems Imminent

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    Dogecoin is gaining pace above the $0.085 zone against the US Dollar. DOGE could start a fresh rally above the $0.088 and $0.095 resistance levels.

    • DOGE is showing positive signs above the $0.085 zone against the US dollar.
    • The price is trading above the $0.0865 level and the 100 simple moving average (4 hours).
    • There was a break above a key contracting triangle with resistance at $0.0820 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).
    • The price could extend its rally above the $0.088 and $0.095 resistance levels.

    Dogecoin Price Turns Green

    In the past few sessions, Dogecoin price started a decent increase from the $0.080 support zone. DOGE cleared many hurdles near $0.0820 to enter a positive zone.

    There was a break above a key contracting triangle with resistance at $0.0820 on the 4-hour chart of the DOGE/USD pair. It even broke the $0.0850 resistance, but the upsides were less than Bitcoin and Ethereum. A high is formed near $0.0883 and the price is now consolidating gains.

    It is trading above the 23.6% Fib retracement level of the recent increase from the $0.0795 swing low to the $0.0883 high. DOGE is also trading above the $0.0865 level and the 100 simple moving average (4 hours).

    Source: DOGEUSD on TradingView.com

    On the upside, the price is facing resistance near the $0.0880 level. The next major resistance is near the $0.0920 level. A close above the $0.0920 resistance might send the price toward the $0.095 resistance. The next major resistance is near $0.100. Any more gains might send the price toward the $0.120 level.

    Downside Correction in DOGE?

    If DOGE’s price fails to gain pace above the $0.0880 level, it could start a downside correction. Initial support on the downside is near the $0.0860 level.

    The next major support is near the $0.0840 level or the 50% Fib retracement level of the recent increase from the $0.0795 swing low to the $0.0883 high. If there is a downside break below the $0.0840 support, the price could decline further. In the stated case, the price might decline toward the $0.0820 level.

    Technical Indicators

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

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

    Major Support Levels – $0.086, $0.084, and $0.082.

    Major Resistance Levels – $0.088, $0.092, and $0.10.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?

    Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?

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    The Dogecoin adoption trend has taken the crypto market by surprise after the number of new wallets being created on the network skyrocketed. Last week, new wallet creations were the center of attention as more than 890,000 new DOGE wallets were added in a single week. This time around, a new Dogecoin metric is taking the stage.

    New Non-Zero Dogecoin Addresses Rise Rapidly

    In a new report, the on-chain data tracking platform Santiment has identified rapid growth in one Dogecoin metric and that is the number of new non-zero addresses. These addresses include those that were created in the last week and are holding more than 0.001 DOGE on their balances.

    The report shows that this category of addresses jumped more than 400,000 in the space of two weeks. More specifically, 413,800 new wallets have been added in the last week, with DOGE balances ranging from between 0.001 and 1 DOGE. This earns them the classification of non-zero balances.

    Interestingly, this rapid rise in adoption happened at a time when the DOGE price was struggling to hold up in the market. As Santiment notes in its post, the DOGE price is down more than 23%, while network adoption has been on a bullish run.

    However, this rise in adoption does not have a positive effect on the DOGE price, suggesting that there isn’t demand among the investors. More than likely, these new non-zero wallets are created by existing users who are looking to take advantage of and trade the newly introduced DRC-20 token standard on the network.

    DOGE price fails to move with network growth | Source: DOGEUSDT on Tradingview.com

    DOGE Comes Under More Selling Pressure

    The Dogecoin price could be looking at more struggles ahead as more sell-offs could be looming on the horizon. Whale Alert, a platform that tracks the origin and destination of large crypto transactions, has flagged a large DOGE transaction that has sparked speculation in the community.

    According to the report, the whale sent a total of 100 million DOGE coins worth over $7.8 million to the Robinhood exchange. The destination of the transaction is important because usually when investors send coins to centralized exchanges such as Robinhood, the purposes are more than likely to sell. In this case, a $7.8 million sell-off could put further pressure on an already struggling DOGE price.

    For the DOGE price to climb as high as $0.2, there would need to be a catalyst, such as Elon Musk announcing Dogecoin payments for X (formerly Twitter). If the entire crypto market continues to perform poorly though, then the DOGE price could fall as low as $0.07 before bouncing back.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Best Owie

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  • Dogecoin Whales Are Moving Millions Of Dollars – Here’s Why

    Dogecoin Whales Are Moving Millions Of Dollars – Here’s Why

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    On-chain data from whale transaction tracker Whale Alerts has revealed multiple transfers of Dogecoins changing hands between unknown whales and crypto exchanges Binance and Robinhood. Large whale transfers such as this one, which collectively amounted to 1.88 billion DOGE tokens throughout the week, tend to catch investors’ attention over their motives. But this elaborate shuffle between whales could be attributed to the approaching DOGE-1 space mission to take Dogecoin to the moon.

    Dogecoin Whales Transfer Millions Of Dollars

    Whale Alert showed whales moving large transfers to and from Binance, Robinhood, and unknown wallets totaling more than 1.88 billion Dogecoin. Large transfers kickstarted on the first day of the month with a transfer of 56.9 million DOGE worth $5.079 million to Coinbase. The tracker reported a flurry of large transfers on January 3, starting with a transfer of 82 million DOGE worth $6.74 million to Robinhood. In less than 15 minutes, another whale wallet made a transfer of 102 million DOGE tokens worth $8.4 million to Robinhood. Hours later, a reverse transaction occurred, with 151 million DOGE tokens worth $12.4 million making their way out of Robinhood to a private wallet.

    Whale transfers continued into January 4 with hundreds of millions of DOGE in each transfer. The first transaction of the day was 300 million DOGE worth $24.6 million sent from an unknown wallet to crypto exchange Binance. Hours later, 307 million DOGE worth $25.4 million were exchanged between unknown wallets. At the same time, another alert revealed that unknown wallets had participated in the exchange of 883 million DOGE tokens, which had a total value of $72.9 million.

    DOGE market cap currently at $11.486 billion. Chart: TradingView.com

    https://x.com/whale_alert/status/1742916334344655174?s=20 

    Possible Explanation Behind The Whale Transfers

    The whale activity comes against the backdrop of the planned mission to take DOGE to the moon. The planned mission called DOGE-1 was paid exclusively with Dogecoins and initially planned to take place in December 2023. However, Intuitive Machines, the company behind the launch in partnership with Space X, postponed the launch date to sometime in mid-February 2024.

    The launch of DOGE-1 mission was first announced by Elon Musk on Twitter (now called X) on May 9, 2021, and has since been approved by the NTIA and FCC. The main purpose of the mission is to broadcast art inspired by Dogecoin on the Doge-1 satellite, which will be orbiting the Moon. The satellite will be carried by a Space X rocket and the Dogecoin-inspired art will be broadcast to Earth. It’s been anticipated that the mission, if eventually carried out, will contribute to a DOGE price surge. 

    The price of DOGE has reacted negatively to the movements, as the crypto is down by double digits in the past week. At the time of writing, DOGE is trading at $0.07973, down by 12% in a 7-day timeframe.

    Featured image from iStock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Dogecoin Price Prediction – DOGE Turns Attractive To Bears On Rallies

    Dogecoin Price Prediction – DOGE Turns Attractive To Bears On Rallies

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    Dogecoin started a fresh decline from the $0.0950 resistance against the US Dollar. DOGE could extend its decline unless there is a close above $0.090.

    • DOGE struggled near $0.0950 and started a fresh decline against the US dollar.
    • The price is trading below the $0.090 level and the 100 simple moving average (4 hours).
    • There is a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).
    • The price could start a recovery wave if it clears $0.090 and $0.0950.

    Dogecoin Price Faces Key Hurdles

    In the past few sessions, Dogecoin price struggled to gain pace above $0.0920. DOGE remained below the $0.095 resistance zone and started a fresh decline, like Bitcoin and Ethereum.

    There was a sharp drop below the $0.0900 and $0.0865 support levels. It even tested the $0.0760 zone. A low was formed near $0.0760, and the price is now attempting a recovery wave. There was a move above the $0.080 resistance zone.

    It cleared the 23.6% Fib retracement level of the downward move from the $0.0943 swing high to the $0.0760 low. DOGE is now trading below the $0.090 level and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.0920 on the 4-hour chart of the DOGE/USD pair.

    On the upside, the price is facing resistance near the $0.0875 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.0943 swing high to the $0.0760 low. The next major resistance is near the $0.090 level.

    Source: DOGEUSD on TradingView.com

    A close above the $0.090 resistance might send the price toward the $0.092 resistance. The next major resistance is near $0.095. Any more gains might send the price toward the $0.105 level.

    More Downsides in DOGE?

    If DOGE’s price fails to gain pace above the $0.0875 level, it could start a fresh decline. Initial support on the downside is near the $0.080 level.

    The next major support is near the $0.0760 level. If there is a downside break below the $0.0760 support, the price could decline further. In the stated case, the price might decline toward the $0.0710 level.

    Technical Indicators

    4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

    4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

    Major Support Levels – $0.080, $0.0760, and $0.0710.

    Major Resistance Levels – $0.0875, $0.0920, and $0.0950.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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