According to new reports, Dogecoin’s market sentiment has plummeted significantly, turning negative once again as its price consolidates. This bearish trend raises the question of whether it is time for investors to buy or sell off their DOGE tokens to avoid future losses. Dogecoin Market Sentiment Dwindles On Tuesday, crypto analyst Ali Martinez announced on […]
The Dogecoin (DOGE) price appears primed for a significant bullish reversal, supported by technical indicators and market sentiment data. Despite recent downward pressures, several factors suggest a potential upward trajectory for the popular memecoin. #1 Dogecoin Bounces Off Key Support Level (1D Chart) Crypto analyst CRG (@MacroCRG) highlighted the resilience of Dogecoin and PEPE, another prominent memecoin, stating, “DOGE + PEPE both bouncing from important areas. The memecoin demise is greatly exaggerated IMO. Next leg up gonna take many by surprise.” CRG’s technical analysis reveals that DOGE has maintained a daily close above the critical support level of $0.385 for nine consecutive days, despite substantial selling pressure. Similarly, PEPE has sustained crucial support, indicating that the “memecoin season” might be making a comeback imminently. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ For Dogecoin, the short-term resistance zone at $0.42 remains a pivotal level. CRG suggests that a break above this threshold could signal the onset of a new bull run, potentially catching many investors off guard. #2 Bullish Market Structure (4-Hour Chart) Further technical insight comes from crypto analyst Gonzo (@GonzoXBT), who provided a technical breakdown of Dogecoin’s price action. Gonzo explained, “DOGE 4H EMA100 -> acting as resistance 4H EMA200 -> acting as support. Until we flip 4H EMA100 we will just chop in between, don’t want to see it lose 4H EMA200 tho.” This analysis underscores the importance of the 4-hour exponential moving averages (EMAs) in determining short-term price movements. The 4H EMA100 currently serves as a resistance level, while the 4H EMA200 offers support. A sustained breach above the 4H EMA100 could facilitate an upward breakout, whereas a failure to maintain above the 4H EMA200 might lead to further consolidation or decline. #3 Trading Against The Crowd Crypto analyst Ali Martinez (@ali_charts) presented another bullish perspective on DOGE’s immediate outlook. He noted, “Market sentiment for Dogecoin has turned negative. It seems as if traders are getting impatient during the ongoing price consolidation!” Related Reading: Bull Flag Formation Puts Dogecoin Price As High As $2.15 This Cycle Martinez’s analysis, based on Santiment data, indicates a sharp decline in both search volume and Weighted Sentiment. Specifically, Weighted Sentiment has plummeted to its lowest point since mid-October, while search volume has dropped to levels not seen since early November. Martinez speculated on potential catalysts that could quickly reignite positive momentum for Dogecoin, referencing the establishment of the new US Department of Government Efficiency under the leadership of Elon Musk. He suggested, “Or you can wait the first POPULAR action of the Department of Government Efficiency.” #4 Liquidation Dynamics Indicate Potential Upside Adding another layer to the bullish thesis, crypto analyst Carlos Garcia Tapia (@CAGThe3rd) shared insights into the liquidation heatmap over the past three days, commenting, “FOMO longs just got liquidated on the 3D chart. DOGE.” The heatmap by Coinglass illustrates a significant liquidation of leveraged long positions clustered between $0.393 and $0.385 over the past two days. But there’s a bullish caveat: with the majority of longs now liquidated, the remaining liquidation cluster is positioned around the $0.42 mark. This setup suggests that Dogecoin could experience a bullish candle formation, potentially triggering further liquidations of bearish positions and propelling the price upward. Why? Because liquidation heatmaps are valuable tools in forecasting price movements as they reflect the underlying market liquidity and leverage dynamics. These heatmaps highlight where traders are most susceptible to forced liquidations, acting as psychological and technical barriers. When the price approaches these levels, large market participants can influence price direction by triggering a cascade of liquidations, thereby amplifying the resultant price movement. At press time, DOGE traded at $0.3843. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Lebicahlz has predicted that the Dogecoin price is set to witness a major explosion, which would send it to new all-time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it rallies to new highs. Dogecoin Price Set To Reach New ATHs In a TradingView post, Lebicahlz said he […]
The Dogecoin price is now at a decisive junction as it hovers near a support level that could determine its short-term direction. A recent analysis on TradingView highlights the importance of the $0.394 support, with outcomes pointing toward both bullish and bearish scenarios depending on price movement at this support level. Dogecoin’s Key Support Zone […]
Dogecoin (DOGE) is expected to experience an 85% price increase, which could potentially elevate its value to approximately $0.75 by early 2025, according to analysts. Following a significant yearly peak of $0.47 last month, the cryptocurrency is currently trading in the $0.40 range. Related Reading: The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says This forecast is being issued at this time. Significant whale activity and bullish market sentiment have contributed to the enthusiasm surrounding Dogecoin, particularly in the wake of recent political events, such as Donald Trump’s re-election. Dogecoin: Present Market Conditions There are numerous factors that have contributed to the recent increase in the price of Dogecoin. The investment from large holders, or “whales,” has been substantial, with an estimated $160 million worth of DOGE purchased in the past 24 hours. This is particularly noteworthy. This accumulation indicates a high level of confidence in the asset’s future performance. Whales bought another 160 million #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/FLr6XL3rMi — Ali (@ali_charts) December 13, 2024 The rush to buy along with the ongoing excitement surrounding Dogecoin has been seen by experts as a possible cause for new highs as 2024 comes to a close. Even though there was a 4.30% drop in the last month, a lot of experts believe that this phase of stability will end with a big break. The way prices are moving now is a lot like how they were moving in 2021, when Dogecoin prices went through similar events that made them stable. Bullish Outlook Backed By Technical Indicators Based on Fibonacci retracement, Dogecoin could climb 85% from its current price level by January 2025. If this comes to fruition, this rally would lift the price of the memecoin to around $0.75, putting it within the coveted $1 mark. The RSI has recently entered overbought territory. This condition frequently precedes substantial price fluctuations, whether upward or downward; nevertheless, historical evidence indicates that such signals have resulted in favorable trends for the memecoin. Additionally, analysts have underscored the significance of critical resistance levels at $0.50 and its previous all-time high of $0.7376. If DOGE is able to surmount these levels, it may facilitate the attainment of the anticipated target of $0.75. Related Reading: 3-Year Peak: Chainlink Rally Fueled By Historic Open Interest Levels Looking Ahead Numerous members of the cryptocurrency community are anticipating the performance of Dogecoin as 2025 approaches. The potential for an 85% rally has sparked discussions regarding the possibility of DOGE eventually reaching the elusive $1 mark, a milestone that many investors have long anticipated. Dogecoin continues to be a central topic in discussions regarding the future of cryptocurrencies due to its growing interest from institutional investors and the support of a vibrant community. Featured image from DALL-E, chart from TradingView
Dogecoin started a downside correction below the $0.400 support against the US Dollar. DOGE is now consolidating and might aim for a fresh increase above $0.4050. DOGE price started a fresh decline below the $0.40 level. The price is trading below the $0.4050 level and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $0.3950 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start another rally if it clears the $0.4050 and $0.4150 resistance levels. Dogecoin Price Eyes Fresh Increase Dogecoin price started a fresh decline from well above $0.410 unlike Bitcoin and Ethereum. DOGE traded below the $0.4020 and $0.400 support levels. It even spiked below $0.3980. A low was formed at $0.3963 and the price is now consolidating losses. It recovered some points and climbed above $0.40. It surpassed the 23.6% Fib retracement level of the downward move from the $0.4136 swing high to the $0.3963 low. Dogecoin price is now trading below the $0.4050 level and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $0.3950 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.4025 level. The first major resistance for the bulls could be near the $0.4050 level. The next major resistance is near the $0.4095 level or the 76.4% Fib retracement level of the downward move from the $0.4136 swing high to the $0.3963 low. A close above the $0.4095 resistance might send the price toward the $0.4150 resistance. Any more gains might send the price toward the $0.4350 level. The next major stop for the bulls might be $0.4500. More Losses In DOGE? If DOGE’s price fails to climb above the $0.4050 level, it could start another decline. Initial support on the downside is near the $0.3980 level. The next major support is near the $0.3950 level. The main support sits at $0.3750. If there is a downside break below the $0.3750 support, the price could decline further. In the stated case, the price might decline toward the $0.350 level or even $0.3420 in the near term. 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 below the 50 level. Major Support Levels – $0.3980 and $0.3750. Major Resistance Levels – $0.4050 and $0.4095.
The Dogecoin price could be gearing up for a potential bullish move as it approaches a critical resistance level. Following the completion of its price consolidation, a crypto analyst has suggested that technical indicators point to a significant breakout to the upside. Key Factors Supporting A Bullish Outlook For Dogecoin Price Ghazi, a crypto analyst […]
Raoul Pal, the former hedge fund manager who retired at the age of 36 and now serves as the co-founder of Real Vision, a prominent financial media company, has given an update on his crypto portfolio. In a post on X today, December 16, Pal unveiled his concentrated investment strategy, highlighting Dogecoin as a central component of his crypto portfolio. Raoul Pal Stills Bets Big On Dogecoin “I have concentrated bets. This is my watch list. I won’t be the best performer and I won’t be the worst. Outside of this I just scrape profits to buy NFT’s for the long haul,” Pal stated in his announcement. The accompanying screenshot detailed his watch list, which encompasses a range of cryptocurrencies including Bitcoin, Ethereum, Solana, Dogecoin, SUI, DeepBook Protocol, and Smoking Chicken Fish. When queried by a user about his thesis for Dogecoin, Pal responded, “It’s outperformed BTC by 500% since 2013… and Elon/X.” This statement underscores his confidence in Dogecoin’s long-term potential, especially because of the connection to Elon Musk. Musk has been hinting at integrating Dogecoin into the payments feature of X, though no official confirmation has yet been made. Recent activity and speculation have been fueled by a tweet from Musk featuring a new dollar icon on a user’s profile, which differs from the existing tipping feature on X. This has led to increased speculation that Dogecoin could be integrated into a forthcoming X Payments service. Related Reading: Bull Flag Formation Puts Dogecoin Price As High As $2.15 This Cycle Previously, Musk had expressed intentions to use Dogecoin for premium services on the platform, but initial documents related to X Payments did not include crypto in its launch phase. Nonetheless, Musk’s continued public support for Dogecoin and his comments favoring its integration have kept hopes alive within the Dogecoin community, one of the strongest catalysts for DOGE price. Another user engaged Pal in a discussion regarding Dogecoin’s future, stating, “I secured 100k DOGE thinking next year when they implement Department of Government Efficiency it will be constantly in the news circulation and may result in subconsciously influencing the market trend. What do you think?” To which Pal succinctly replied, “Just the start,” indicating his belief that the headline for Department of Governance Efficiency (DOGE) under the lead of Musk will have significant impact on Dogecoin in the upcoming months. When asked about his investment in the lesser-known altcoin DeepBook Protocol (DEEP), Pal explained, “As Sui volumes scale, so does DEEP. Pretty simple beta play and it’s still a low market cap,” highlighting his strategy of targeting emerging projects with growth potential tied to scalable blockchain solutions. In addition to his statements on X, Pal recently shared his broader investment philosophy in an interview with Mario Nawfal. He articulated his views on the cyclical nature of liquidity injection into markets, driven by governmental debt refinancing every four years. Pal elaborated: Related Reading: Dogecoin Price Slump Looms, Analyst Points To Only One Lifeline “Where are we in the four-year cycle? I break them down by seasons each year being a different season […] Bitcoin usually leads in spring and summer which is now and then Bitcoin dominance falls and ALT season starts in a couple of months […] This is just an annual sign when we go into the next fall or the Autumn cycle that’s usually the most explosive beginning of next year.” Pal further discussed the implications of these cycles on the crypto market, suggesting that current conditions are setting the stage for an “explosive” period in the upcoming cycle. He emphasized that the persistence of these cycles hinges on the continued injection and withdrawal of liquidity by governments, a dynamic he refers to as the “everything code.” Notably, Pal addressed the concept of a potential “super cycle” for Bitcoin and crypto markets, positing that such an occurrence is improbable unless there is a fundamental change in the underlying economic structures, specifically regarding global debt and demographics. “I don’t see how that happens, unless they break this everything code cycle of liquidity,” Pal remarked. At press time, DOGE traded at $0.39447. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Elalemiami has revealed that the Dogecoin price is about to test the Gaussian channel on the chart. The analyst also mentioned what he expects to happen when DOGE touches the Gaussian band. Dogecoin Price Could Touch $2.5 As DOGE Tests Gaussian Channel In a TradingView post, Elalemiami suggested that the Dogecoin price could […]
Bitcoin and Dogecoin are two of the most watched cryptocurrencies this cycle, with increases in the Bitcoin price mostly flowing into that of Dogecoin. At some point, the price correlation between the Dogecoin price and that of Bitcoin was at 0.97. Related Reading: Travala (AVA) Rally: Binance Early Bet And CZ’s Nod Drive 300% Growth Interestingly, recent market movements have seen the Bitcoin price returning above the $100,000 price level again, with the leading cryptocurrency reaching as high as 102,700 in the past 24 hours. However, this has yet to translate into a corresponding increase in the price of Dogecoin, with the meme coin breaking below support at $0.4 in the same timeframe. Dogecoin’s Recent Performance Amid Bitcoin’s Surge Bitcoin has once again surpassed the psychological $100,000 threshold after a 7.5% price increase since a $94,900 low on December 10. Notably, this upward movement is the latest recovery for Bitcoin after a rejection at the $100,000 price level that sent shockwaves of liquidations among other cryptocurrencies. But while Bitcoin has shown resilience, Dogecoin has faced notable challenges in sustaining its upward momentum. Dogecoin managed to rally to $0.48 on December 8, which is a level it hadn’t touched since 2021. However, a detailed examination of the meme coin’s price action reveals a recurring struggle with the $0.48 resistance level, which now seems to be the resistance level to break this market cycle. At the time of writing, Dogecoin is currently trading at $0.395, meaning it has lost about 17% since it reached this 2024 high of $0.48. As it stands, Dogecoin is down by about 13% in the past seven days, making it the worst performer among the top 10 cryptocurrencies by market cap in this timeframe. Is A New Dogecoin All-Time High Still Possible This Cycle? Market analysts have provided different predictions regarding the possibility and timelines of the Dogecoin price to achieve a new all-time high in the current cycle. ogecoin last reached its peak price of $0.73 during the crypto bull run of May 2021. The prospect of breaking above this level this cycle is still there, but the path forward appears challenging, especially if the Dogecoin price were to continue detaching from Bitcoin’s rally. However, you could argue that the general consensus is for Dogecoin to resume its uptrend anytime soon. Historically, Dogecoin’s price surges have been due to sudden spikes in retail investor activity, often due to rumors on social media like payments on X and things of that nature. For Dogecoin to surpass its 2021 high, a similar wave of enthusiasm would need to emerge with significant trading volume and renewed interest from both retail and institutional investors. Related Reading: Expert Eyes $35 XRP Price, Says Holders To Become ‘Filthy Rich’ As 2024 comes to an end, a more plausible scenario for Dogecoin to reach new highs might emerge in early 2025. By then, a change in the global economic and political landscape, including the inauguration of Donald Trump as president, could create optimism in the crypto sector. Featured image from Bankrate, chart from TradingView
Bitcoin and Dogecoin are two of the most watched cryptocurrencies this cycle, with increases in the Bitcoin price mostly flowing into that of Dogecoin. At some point, the price correlation between the Dogecoin price and that of Bitcoin was at 0.97. Related Reading: Travala (AVA) Rally: Binance Early Bet And CZ’s Nod Drive 300% Growth Interestingly, recent market movements have seen the Bitcoin price returning above the $100,000 price level again, with the leading cryptocurrency reaching as high as 102,700 in the past 24 hours. However, this has yet to translate into a corresponding increase in the price of Dogecoin, with the meme coin breaking below support at $0.4 in the same timeframe. Dogecoin’s Recent Performance Amid Bitcoin’s Surge Bitcoin has once again surpassed the psychological $100,000 threshold after a 7.5% price increase since a $94,900 low on December 10. Notably, this upward movement is the latest recovery for Bitcoin after a rejection at the $100,000 price level that sent shockwaves of liquidations among other cryptocurrencies. But while Bitcoin has shown resilience, Dogecoin has faced notable challenges in sustaining its upward momentum. Dogecoin managed to rally to $0.48 on December 8, which is a level it hadn’t touched since 2021. However, a detailed examination of the meme coin’s price action reveals a recurring struggle with the $0.48 resistance level, which now seems to be the resistance level to break this market cycle. At the time of writing, Dogecoin is currently trading at $0.395, meaning it has lost about 17% since it reached this 2024 high of $0.48. As it stands, Dogecoin is down by about 13% in the past seven days, making it the worst performer among the top 10 cryptocurrencies by market cap in this timeframe. Is A New Dogecoin All-Time High Still Possible This Cycle? Market analysts have provided different predictions regarding the possibility and timelines of the Dogecoin price to achieve a new all-time high in the current cycle. ogecoin last reached its peak price of $0.73 during the crypto bull run of May 2021. The prospect of breaking above this level this cycle is still there, but the path forward appears challenging, especially if the Dogecoin price were to continue detaching from Bitcoin’s rally. However, you could argue that the general consensus is for Dogecoin to resume its uptrend anytime soon. Historically, Dogecoin’s price surges have been due to sudden spikes in retail investor activity, often due to rumors on social media like payments on X and things of that nature. For Dogecoin to surpass its 2021 high, a similar wave of enthusiasm would need to emerge with significant trading volume and renewed interest from both retail and institutional investors. Related Reading: Expert Eyes $35 XRP Price, Says Holders To Become ‘Filthy Rich’ As 2024 comes to an end, a more plausible scenario for Dogecoin to reach new highs might emerge in early 2025. By then, a change in the global economic and political landscape, including the inauguration of Donald Trump as president, could create optimism in the crypto sector. Featured image from Bankrate, chart from TradingView
Dogecoin’s price action is still drawing attention with its ongoing consolidation holding up above $0.4. At the time of writing, Dogecoin is trading around $0.409, down 14% from its recent December high of $0.4757. While this dip might appear concerning to some, crypto analyst Master Kenobi believes it is a natural and necessary phase in […]
Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the Dogecoin price could reach as high as $2.15 in this market cycle. Bull Flag Puts The Dogecoin Price Target At $2.15 In an X post, Trader Tardigrade revealed a bull flag that had formed on DOGE’s daily chart. He stated that there is a tight consolidation within the bull flag. The analyst added that a long flagpole projects the Dogecoin price target at $2.15. Interestingly, his accompanying chart showed that the rally to this target could happen before the year ends. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The Dogecoin price could be well-primed for this rally to the upside. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has come up with a double-bottom chart pattern. He added that DOGE had formed two equal lows with a resistance at the neckline, which is at around $0.46. Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run. This rally to $0.5 could just be the start of the projected rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has before now provided more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10. What The Next Move Could Look Like Crypto analyst KrissPax provided insights into what the next move up for the Dogecoin price could look like. He stated that following the double-bottom pattern on DOGE’s chart, a fractal from past price action shows a possible move up through Monday, followed by an upward trend until Christmas. However, the crypto analyst cautioned that there will be dips along the way. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bull flag that has formed on DOGE’s daily chart. He stated that this bullish pattern points to the Dogecoin price reaching $0.69 by the end of the year. This would break Dogecoin close to its current all-time high (ATH) of $0.73. Crypto whales look to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that these investors bought 160 million DOGE in 24 hours. At the time of writing, the Dogecoin price is trading at around $0.4, up over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price action is currently locked between two critical technical levels, the macro golden pocket and the macro 0.5 Fibonacci retracement level. This observation was highlighted by crypto analyst Kevin (@Kev_Capital_TA) on the social media platform X. Interestingly, according to the analyst, Dogecoin’s immediate fate hinges not on its internal dynamics but on external factors, primarily […]
Crypto analyst Trader Tardigrade has provided an update on Dogecoin’s current price action. The analyst revealed that the meme coin has signaled a bullish crossover on the moving average convergence/divergence (MACD) and suggested where the DOGE price is headed next. Dogecoin Flashes Bullish Pattern In an X post, Trader Tardigrade revealed that Dogecoin’s MACD has […]
Dogecoin is testing demand above the $0.40 level following several days of consolidation below its yearly high of $0.484. This period of choppy price action has kept traders on edge, as Dogecoin’s price appears poised for a decisive move. Despite the temporary pause in upward momentum, market sentiment remains optimistic, with many investors anticipating another breakout. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon Top analyst and trader Hardy recently shared a technical analysis highlighting Dogecoin’s potential for a massive price surge. According to Hardy, it’s only a matter of time before DOGE breaks into new all-time highs. His analysis suggests that Dogecoin is building a strong foundation, and continued consolidation at current levels is a bullish signal. If Dogecoin maintains support above $0.40, the stage could be set for a significant rally in the coming weeks. However, much will depend on broader market conditions and the ability of DOGE to sustain buying pressure. All eyes are on its ability to overcome resistance and resume its bullish trend. With whale activity and trading volumes showing signs of growth, Dogecoin could soon retest its highs, ushering in a new chapter of price discovery. Dogecoin Consolidates At Current Levels Dogecoin is consolidating below its yearly high of $0.484 after an impressive rally, and it appears this phase of sideways movement may persist for some time. While the price action has calmed, investor sentiment remains notably optimistic, with many viewing this consolidation as a stepping stone toward even higher price levels. Top analyst and trader Hardy recently shared a detailed technical analysis on X, offering a bullish outlook for Dogecoin. According to Hardy, DOGE’s current price action is a healthy consolidation within a broader uptrend. He emphasized that the asset is building a solid base, which increases the likelihood of a significant breakout. Hardy’s projection suggests that Dogecoin is poised to surpass its yearly high and is also on track to achieve a new all-time high (ATH). In his analysis, Hardy highlighted key support levels around $0.40 and $0.36, indicating these areas as crucial for maintaining the bullish structure. He also mapped out a potential price trajectory, predicting that Dogecoin will consolidate at current levels for several weeks before resuming its upward momentum. His optimistic target for DOGE is $2, which he believes could be reached if the broader market remains favorable and buying pressure intensifies. Related Reading: Bitcoin Finds Support At $94.5K As STH Realized Prize Signals Strength While consolidation may test the patience of traders, Hardy’s analysis aligns with the broader view that Dogecoin is preparing for another major leg up. A new ATH could be just around the corner as long as it holds key support levels and sentiment remains positive. DOGE Price Action: Key Levels To Watch Dogecoin (DOGE) trades at $0.40 after a 24% retrace from its local highs. Despite this pullback, the price has exceeded this key demand level, signaling resilience among bulls. Market participants are closely watching the $0.40 zone, representing a critical point for determining the next move in DOGE’s price action. If DOGE can reclaim the $0.43 level in the coming days, it would likely set the stage for a retest of its yearly high at $0.484. A breakout above this resistance could reignite bullish momentum and pave the way for further upside, potentially attracting renewed interest from traders and investors. However, maintaining support and gaining traction is essential for this scenario to unfold. Related Reading: PEPE Whales Increased Their Holdings By $1.4 Billion Yesterday – Details On the flip side, losing the $0.40 level could signal that bearish sentiment is gaining market control. In this case, DOGE might face a deeper correction, with the next critical support levels likely emerging near $0.36. Such a move would challenge the bullish outlook and delay DOGE’s efforts to reach new highs. Featured image from Dall-E, chart from TradingView
Dogecoin (DOGE) has entered a period of weakness, slipping roughly 16% from its November 23 local high of $0.4795. As the original meme cryptocurrency struggles to reclaim key technical levels, the consensus among some analysts is that DOGE’s ability to stabilize or recover may hinge almost entirely on an external factor: Bitcoin’s trajectory. Dogecoin Price At Risk Of Another Slump Technical analysis suggests that the previously well-respected uptrend line, established in mid-November, has now turned into a formidable barrier. After breaching this support line earlier in the week, Dogecoin bulls attempted several times to push the price back above it. Yet none of these efforts have succeeded. Crypto analyst Kevin (@Kev_Capital_TA), who has been closely tracking the DOGE/USD 1-day chart, notes that DOGE is “getting rejected from the re test of this trend line that we were holding for almost a month on top of that it sits right in the macro .786 Fib.”—a technical zone often associated with significant turning points and potential reversals. Beyond the trend line, internal momentum indicators paint a challenging picture. Kevin emphasizes that the daily MACD for DOGE is showing “strong momentum to the downside,” a technical signal suggesting the market’s short- to mid-term bias may lean lower unless the broader crypto environment shifts. Related Reading: Dogecoin Whales Bought 210 million DOGE During Recent Correction – Bullish Signal? In his view, “It’s safe to say without a BTC move higher the more probable move for DOGE in the short to mid term is lower. A BTC move higher could save us though.” He identifies $0.32—the origin of the prior uptrend line—as a primary downside target. Should DOGE fail to hold above that level, traders may look toward the $0.29 to $0.26 range as potential next stops. In another post on X, Kevin emphasized that Dogecoin price pinned between two critical long-term Fibonacci levels. He describes DOGE as currently “trading between the macro golden pocket,” roughly at $0.47, and the macro 0.5 Fib level near $0.39. According to him, a firm break above or below these pivotal levels could trigger what he calls a “cascading” effect of “aggressive movement.” He adds: “My position is that DOGE is not in control of itself and it’s fate lies purely in BTC’s hands at the moment so overly focusing on the asset is sort of a waste of time. I see nothing telling me the cycle is over therefore this should head higher soon enough regardless of short term noise. Nothing else to do but sit back and wait if you’re a long term holder who got in early like myself.” However, there is at least one silver lining worth noting. Kevin mentions he is “tracking [a] potential hidden bullish divergence” on the DOGE daily chart. Hidden bullish divergences occur when price action continues to trend higher over a longer timeframe, while momentum indicators—like the Relative Strength Index (RSI)—trend lower. Related Reading: Dogecoin, XRP Flashing ‘Overlooked’ Bullish Signal, Santiment Reveals This pattern can sometimes signal that a market’s underlying strength is greater than it appears. It is, as the analyst puts it, “pretty textbook” at the moment, though it still needs the all-important help from Bitcoin. “Still need BTC to cooperate so nothing guaranteed,” Kevin remarks. What About Bitcoin? Kevin points out that Bitcoin is currently “squeezing” between an upward trend line of support and a macro golden pocket—levels derived from the previous bull market high to bear market low. This tightening price action suggests an imminent resolution: BTC is unlikely to remain compressed in this zone much longer. A decisive breakout, in either direction, seems imminent and could have far-reaching consequences. “This upwards consolidation cannot last much longer. We will get a bust in either direction very soon,” Kevin predicts. On the liquidity front, Kevin sees significant upside liquidity blocks for BTC, noting that “built up liquidity” over the last 48 hours aligns with the macro 1.703 Fibonacci level. He also mentions observing data that shows whales purchasing large options calls for MicroStrategy (MSTR) stock. Such purchases may reflect anticipation of a BTC move higher, given MicroStrategy’s well-known Bitcoin treasury holdings. If these whales and liquidity indicators are correct, and BTC does indeed push upward, DOGE might find the “one lifeline” it needs to stabilize and reverse its current downtrend. At press time, DOGE traded at $0.405. Featured image created with DALL.E, chart from TradingView.com
Donald Trump’s team is intent on consolidating or even eliminating some long-standing banking watchdogs, WSJ reports, while Wall Street Pepe ($WEPE) fans cheer. Trump’s incoming US presidency has signaled a promising forecast for cryptocurrency regulations in the US. Now, his newly formed Department of Government Efficiency (DOGE), championed by Trump’s right-hand man and Meme Overlord […]
Trump’s team is asking whether the president-elect could nix financial industry regulators or combine them together, according to a Wall Street Journal report.
Earlier in November, Dogecoin experienced a rapid ascent to new price highs, driving its Relative Strength Index (RSI) into the overbought zone. However, a crypto analyst revealed that the popular meme coin has officially exited this overbought range following its recent pullback below $0.4. This new shift could signal the potential for another significant surge […]
Following the recent waning price performance of Dogecoin, the largest meme coin in the past few days, speculations and uncertainties about DOGE’s potential to hit a new all-time high in the short term have emerged within the crypto community. Record-Breaking Run For Dogecoin May Be Postponed Technical analyst and investor Master Kenobi has offered insights […]
The Dogecoin price journey toward the coveted $1 mark has been a topic of interest for crypto enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into new all-time high prices. However, there have been differing perspectives as to how and when this would happen. A technical analysis on the TradingView platform suggests that the Dogecoin price may encounter resistance at $0.48, experience a decline, and then resume its upward trajectory towards $1 and beyond. Dogecoin Price Could Reject At $0.48 Dogecoin is currently trading below the $0.48 mark, but technical analysis has pointed to a notable resistance situated around this price level. According to the Dogecoin price analysis of the 4-hour candlestick timeframe, the $0.48 price level is one to watch. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This is because the Dogecoin price has yet to exhibit a notable break above this price level throughout the current bull market cycle. Particularly, the rally has been highlighted by two rejections just below the $0.48 price level, with the highest Dogecoin price so far being $0.475 on November 23 and December 8. The analyst points out that the Dogecoin price recently experienced a solid bounce from the 200EMA on a 4-hour timeframe. This bounce signifies that the bulls are still in control, as the price continues to show resilience against downward pressure. The confluence of support at the 200EMA with bullish momentum provides a foundation for Dogecoin’s upward movement, setting the stage for the anticipated test of the $0.48 level. Interestingly, Dogecoin’s inability to break above $0.48 yet has seen the price level being regarded as the zone of liquidity. The TradingView analyst emphasizes that this level remains a focal point, predicting that Dogecoin is likely to face another rejection at $0.48. Such a rejection could lead to a pullback deeper than any seen so far during this bull cycle and offer an opportunity for consolidation before attempting a stronger breakout. What Happens After The Retest? According to the analyst, a rejection at the $0.48 price level would see the Dogecoin price falling significantly and erasing most of the gains it piled up in November. Particularly, the analyst envisions a fall to fill the CME on lower zones up to the $0.20 price zone. Such a move is expected to have a devastating effect on the sentiment of bullish investors, specifically those anticipating a quick new Dogecoin price all-time high. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Despite this anticipated pullback, the analyst maintains a longer-term bullish outlook. Once Dogecoin reaches the $0.20 zone and completes the consolidation phase, a strong rebound is expected to follow. This rebound is projected to drive the price decisively past the $0.48 resistance and set the stage for Dogecoin’s journey toward the much-anticipated $1 milestone. With this in mind, the analyst highlighted the $0.24 to $0.20 range as the ideal buying zone to best capitalize on this move. At the time of writing, the Dogecoin price is trading at $0.42 and is up by 7% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin has seen choppy price action over the past few weeks, reflecting the broader market’s indecision. After reaching a new yearly high of $0.484, the price retraced sharply, losing over 25% of its value. This pullback has left Dogecoin struggling to regain strength and find clear direction, creating uncertainty among retail investors. Related Reading: Bitcoin Finds Support At $94.5K As STH Realized Prize Signals Strength Despite the retrace, on-chain data provides a promising signal for Dogecoin’s potential recovery. Metrics from Santiment reveal that Dogecoin whales took advantage of the recent dip, accumulating a staggering 210 million DOGE during the correction. This accumulation suggests that large holders position themselves for higher prices, signaling confidence in Dogecoin’s long-term outlook. The market is watching closely to see if this whale activity can reignite momentum and push Dogecoin back toward its highs. With whales accumulating during the correction, recovery might be on the horizon, but the price still needs to reclaim key resistance levels to confirm a bullish continuation. Investors and analysts are awaiting the next move, which could determine whether Dogecoin remains in a consolidation phase or resumes its upward trend. Finding Fuel To Rally Dogecoin has been a standout performer recently, experiencing a massive surge since November 5. The meme coin gained over 220% during this period, capturing the attention of retail and institutional investors alike. However, after this impressive rally, Dogecoin is now in a consolidation phase, as the market takes a pause before the next significant move. Top analyst Ali Martinez shared insights on X, highlighting on-chain data from Santiment that offers a bullish perspective. According to Martinez, Dogecoin whales took advantage of the recent price correction, accumulating an impressive 210 million DOGE. This activity underscores the growing interest in ‘smart money’, as large holders often accumulate during dips in anticipation of future price increases. Such whale activity is a positive long-term signal for Dogecoin and meme coins, suggesting confidence in its potential for further growth. Related Reading: Solana Will ‘Step Back Into The Spotlight’ Once It Reclaims $222 – Details Despite the bullish signals, Dogecoin must overcome current consolidation to maintain its upward trajectory. A breakout above the current pattern would likely trigger another surge, continuing its rally. However, failure to break out could lead to a deeper correction as investors reassess short-term market conditions. The next move will likely set the tone for Dogecoin’s direction in the coming weeks, making it a critical moment for the popular meme coin. Dogecoin Testing Crucial Demand Dogecoin (DOGE) is currently trading at $0.41 after successfully testing support at the $0.36 level, a critical area that has held firm during recent market volatility. Over the past few days, DOGE has been ranging sideways, confined between resistance at $0.48 and support at $0.36. This range-bound activity suggests the market is in a consolidation phase, with both bulls and bears waiting for the next decisive move. If Dogecoin can break above the key resistance level at $0.48, it would signal renewed bullish momentum and likely trigger a push higher. Such a breakout could attract more buyers and set the stage for DOGE to challenge its previous highs. On the other hand, failure to hold the $0.36 support level would likely lead to a deeper correction, with the potential to test lower demand zones as investors lose confidence in the short-term outlook. Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 As Dogecoin remains within this range, traders and investors closely monitor the price action for signs of a breakout or breakdown. The next few sessions will be pivotal in determining whether DOGE resumes its upward trajectory or faces a more extended correction period. The meme coin sits at a crossroads, poised for its next big move. Featured image from Dall-E, chart from TradingView
Shiba Inu (SHIB), the second-largest memecoin by market cap following Dogecoin (DOGE), is now experiencing a notable surge in its price after breaking through key levels in the past week. Currently trading at $0.00002877, SHIB has risen 14% over the past day, signaling renewed investor interest. However, the memecoin remains down by 4.3% over the past week and is still 66.6% below its all-time high of $0.00008616, recorded in 2021. Despite these mixed performances, analysts suggest a potential bullish trajectory for SHIB. Related Reading: Shiba Inu Braces For Rally – Analyst Sees 35% Price Surge – Details Shiba Inu’s Next Big Move Renowned crypto analyst Javon Marks has provided a positive outlook on SHIB’s price action in a recent post on X. Marks highlighted a recurring bullish pattern, indicating the possibility of a significant upward move. “Shiba Inu has confirmed yet another bullish pattern,” he wrote, emphasizing that similar patterns in the past have led to upward continuations. According to Marks, SHIB’s recent breakout could drive the price towards $0.000081, representing a potential 180% increase from its current value. Marks elaborated that this target is achievable and may already be in progress, given the asset’s recent movements. Such a rally, he noted, could position SHIB as a standout performer in the altcoin market, drawing attention from retail and institutional investors alike. $SHIB (Shiba Inu) has confirmed recently, yet another Bullish Pattern and all of its recent has led into continuations, so we can be in for yet another major upside move, but with breakouts holding and one implying $0.000081 to be in play, it can be greater than many think! With… https://t.co/yiK6w67Cly pic.twitter.com/9wdsLpZdSi — JAVON⚡️MARKS (@JavonTM1) December 11, 2024 Broader Altcoin Market Outlook While Marks penned his piece on SHIB, another prominent analyst known as Captain Faibik offered insights into the current state of altcoins. In a post that featured the chart image of BTC dominance forming an ascending trendline that seems poised for a 48% correction, Faibik suggested a positive outlook for the overall altcoin market. Particularly, he urged investors to remain patient, viewing the recent dip as a buying opportunity rather than a reason for panic selling. Faibik stated, “Altseason hasn’t arrived yet; this is just the trailer. Patience always pays off.” Furthermore, Marks extended his bullish outlook beyond SHIB to include Dogecoin (DOGE), another widely-followed memecoin. In a separate analysis, Marks noted that DOGE is exhibiting strength and could potentially rally to $0.6533, possibly reaching as high as $1.2511 if it breaks key resistance levels. Related Reading: Dogecoin Defies Crypto Market Crash: Analyst Says It Looks ‘Incredible’ This would represent a 56% to 90% increase from its current levels, highlighting the potential for further gains in the memecoin market. Featured image created with DALL-E, Chart from TradingView
Crypto analyst Master Kenobi has provided an update on the Dogecoin price action in comparison to the 2021 bull run. The analyst revealed that the DOGE/BTC chart has aligned with this previous cycle and predicted when exactly Dogecoin could experience the long-awaited pump. Dogecoin Price Nears Long-Awaited Pump In an X post, Master Kenobi predicted […]
Crypto analyst Bartfil has provided insights into the next move for the Dogecoin price based on past performances. Based on his analysis, Dogecoin could witness a significant price correction before it continues its upward trend. Where The Dogecoin Price Is Headed Next In a TradingView post, Bartfil compared the current situation of the Dogecoin price […]
A new Dogecoin price analysis reveals the potential for the number one meme coin to surge to a new all-time high at $4. According to a crypto analyst, this bullish target could become a reality if Dogecoin can maintain its position above a critical support level of around $0.35. Additionally, the analyst points to factors […]
The on-chain analytics firm Santiment has revealed that Dogecoin and XRP are flashing bullish signals in an often overlooked metric. Dogecoin, XRP, & Bitcoin Recently Saw A Decline In Mean Dollar Invested Age In a new post on X, Santiment has discussed the latest trend in the Mean Dollar Invested Age indicator for a few of the top coins in the cryptocurrency sector. Related Reading: Crypto Suffers $1.6 Billion Liquidations As XRP, DOGE Down 10% The “Mean Dollar Invested Age” keeps track of the average age of every dollar the holders have invested into the cryptocurrency. This metric is similar to the Mean Coin Age, an indicator that measures the average age of tokens in the entire circulating supply. The Mean Coin Age uses on-chain data to determine when every coin was last moved on the network and calculates the mean for the supply based on it. The Mean Dollar Invested Age works on the same data, except that it converts the coins to their USD value based on the price at their last movement. Now, here is a chart that shows the trend in the Mean Dollar Invested Age for five top digital assets: Bitcoin (BTC), XRP (XRP), Dogecoin (DOGE), Ethereum (ETH), and Chainlink (LINK). As displayed in the above graph, the Mean Dollar Invested Age has registered a decline for all five of these cryptocurrencies recently, but the scale of the drawdown has been quite small in the case of Ethereum and Chainlink. On the other hand, Bitcoin, XRP, and Dogecoin have witnessed a very significant decrease in the indicator. As for what it means when this metric trends down, Santiment explains: When a network’s Mean Dollar Invested Age line is moving down, it indicates that older, stagnant wallets (particularly from large key stakeholders) are circulating their dormant coins back into circulation, increasing network activity. While this suggests that the older hands are potentially participating in selling, another way to look at it could be that new capital is flowing into the market, buying up these dormant coins and bringing the average age down. Related Reading: Litecoin Not To Be Overlooked, Analytics Firm Says: Here’s Why Indeed, it seems historically, the pattern has proven to be bullish, as the analytics firm has pointed out: This is one of the key indicators throughout the history of each coin’s lifespan that helps validate that a bull market can and should continue. The 2017 and 2021 bull markets similarly did not come to a halt until assets’ mean ages started going “up” (getting older) again. Out of the three assets that have seen a sharp decline in the Mean Dollar Invested Age, Dogecoin has particularly stood out for both the scale and the speed of the drawdown; the average dollar invested into the memecoin has become 31% younger over the last eight weeks. DOGE Price At the time of writing, Dogecoin is floating around $0.403, down almost 2% in the last seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com
The Dogecoin (DOGE) price is showing signs of pronounced weakness after a major price surge over the past two days. At one point on Monday and Tuesday combined, DOGE prices fell more than 21%. Following a remarkable rally since October 10—during which the memecoin surged over 360%—Dogecoin reached $0.4834 on December 8, the highest price since May 2021. However, strong downward pressure has since emerged. How Low Can Dogecoin Price Go? The current technical landscape suggests DOGE is at a critical juncture. Crypto analyst Kevin (@Kev_Capital_TA) shared his perspective on X with a daily DOGE/USD chart, commenting: “Dogecoin is in full breakdown mode. Everyone with their triangle kept saying that DOGE was breaking out but as the Doge lead analyst I was able to identify that on the macro linear chart Doge was actually right at its biggest points of résistance that being the macro golden pocket. I warned everyone that this was not the place to feel over exuberant and a major pullback was on the table. You’re welcome.” Kevin has previously highlighted the “golden pocket”—a zone defined by key Fibonacci retracement levels (the .703 and the .786), located in the $0.47-$0.60 range—as a critical resistance area. This region needed to be decisively overcome for DOGE to have a chance at reaching new all-time highs. The recent downturn suggests this resistance has held firm. Related Reading: Dogecoin Defies Crypto Market Crash: Analyst Says It Looks ‘Incredible’ Compounding the bearish case, the Dogecoin price recently broke below a rising trend line that had supported its advance over the past month. This trend line failure indicates a shift in market dynamics. When a price chart breaks below such a line, it frequently suggests that the buying pressure once driving the asset higher is waning. Traders may interpret this breach as a cue to take profits, exit long positions, or consider short setups. Another technical indicator supporting a bearish outlook is the Relative Strength Index (RSI) on the daily chart. The RSI has been trending downward over the past month, even as DOGE continued making higher highs. This classic bearish divergence—where price action and momentum indicators move in opposite directions—often precedes reversals. The recent move below the supporting price trend line, coupled with the RSI line breaking its own uptrend, confirms that the momentum may have decisively shifted to the downside. Related Reading: Don’t Be Surprised If Dogecoin Hits $1 Or $2 ‘In A Hurry’, Says Crypto Analyst As for potential downside targets, Kevin’s chart suggests that DOGE could drop into the $0.29-$0.26 region. Meanwhile, a closer look at the Fibonacci retracement levels on the daily chart provides a roadmap of possible support zones. Currently, the 0.5 Fib retracement at $0.39 appears to be a key battleground. A successful defense of this level might halt the bearish trend and even set the stage for a bounce back above the broken trend line. However, a daily close below the 0.5 Fib would likely open the door to deeper retracements. Under such circumstances, DOGE could target the 0.382 Fib at $0.31 and even the 0.236 Fib at $0.21 as the next potential support levels if the selling momentum accelerates. On the lower time frames, the 4-hour 200 EMA is currently the crucial support to hold. Featured image created with DALL.E, chart from TradingView.com
Data shows the cryptocurrency market has registered large liquidations in the past day as altcoins like Dogecoin and XRP have crashed. Cryptocurrency Derivatives Market Has Just Seen Massive Long Liquidations According to data from CoinGlass, a mass amount of liquidations have piled up over on the derivatives side of the cryptocurrency sector during the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes when its bet fails enough to accumulate losses equal to a certain degree (the exact value of which may differ between platforms). Related Reading: Bitcoin HODLing Rewards: Long-Term Holders Selling At 326% Profit Below is a table that breaks down the relevant numbers related to the liquidations from the past day. As is visible, there have been total liquidations of cryptocurrency-related contracts worth a whopping $1.56 billion in the past day. The long holders were involved in an overwhelming majority of this flush, with liquidations associated with them standing at $1.39 billion (almost 90% of the total). The reason behind the large liquidations is the crash that the altcoin market has faced during this window, with many popular coins like XRP and Dogecoin being down double digits. It would appear that many traders had set up bullish positions on the market, hoping that the recent momentum led by Bitcoin’s exploration to new highs would continue shortly. BTC has interestingly managed to limit its losses to just 2%, but evidently, the rest of the market hasn’t been so lucky. As for which of the assets was responsible for the most liquidations, the below heatmap shows it. Usually, Bitcoin leads the market liquidations, but it appears the second largest cryptocurrency by market cap, Ethereum has instead contributed the most towards the flush with $229 million in positions. Dogecoin and XRP have followed BTC’s $173 million liquidations with flushes of $88 million and $68 million, respectively. Their large liquidations are likely due to their popularity and the notable scale of drawdown they have seen. It would also seem that the speculative interest in the sector has been so deep recently that the small cap assets (referred to as ‘others’ in the heatmap) have added up to a massive $496 million liquidation. Related Reading: Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms Mass liquidation events aren’t particularly rare in the cryptocurrency sector, but today’s flush has been extraordinary even for the market’s standards. These events happen from time to time because coins across the board generally display notable volatility, and a lot of speculators opt for risky amounts of leverage. These two conditions have been particularly pronounced recently, which is why the derivatives sector has exploded in this fashion. XRP Price At the time of writing, XRP is trading around $2.09, down almost 15% in the last seven days. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com