Dogecoin (DOGE) was one of the tokens significantly affected by the recent crypto market crash. With the crypto market recovering, the meme coin is showing signs of life and is looking to reclaim the psychological support level of $0.1, having bounced off key support. Dogecoin Bounces Off Key Support With $0.1 In Sight Crypto analyst World of Charts mentioned in an X (formerly Twitter) post that Dogecoin is bouncing from the key support at $0.09. In line with this, the analyst revealed that he will be adding to his position for the long term as this recent crash can give “massive returns” in the coming months. Related Reading: Bitcoin Crash Over? Veteran Trader Predicts Rebound To $90,000 Crypto analyst Crypto Kaleo highlighted Dogecoin’s impressive bounce above $0.09, with the critical support level of $0.1 currently in sight for the foremost meme coin. Like World of Charts, Crypto Kaleo also suggested that the recent price crash for DOGE was a massive investment opportunity considering the heights the meme coin could still reach in this bull run. The analyst labelled the drop below $0.1 as a “gift” while predicting that Dogecoin will still rise to $1 in the next few months. In a more recent analysis, Crypto Kaleo opined that the worst is over for Dogecoin and that DOGE’s drop to around $0.08 was likely the bottom. He explained that he feels good about where major cap tokens have currently dipped to and doesn’t see them going much lower. As such, Dogecoin is unlikely to dip to between $0.06 and $0.07, which he had expected earlier. As to what is next for Dogecoin, Crypto Kaleo mentioned that the meme coin will experience “several months of chop” in the $0.08 to $0.13 range before it enjoys that parabolic rally to $1 in early 2025. DOGE Not Yet Out Of The Woods Crypto analyst Kevin Capital (formerly OG Yomi) recently offered a different view and suggested that DOGE could still experience a significant price drop before reclaiming the $0.1 support zone. The analyst claimed that Dogecoin is “definitely” still in a downtrend and “has a lot of work to do” before it can flip bullish on its current price structure. Related Reading: Bitcoin Sellers Running Out Of Coins As Dominance Hits 3-Year High However, he noted that the foremost meme coin showed a lot of “resilience” to close the three-day candle above the three-day 200 simple moving average (SMA). He further remarked that Dogecoin’s successful break out above $0.143 would be key to creating a new bullish structure. Kevin is one of the crypto analysts who is most bullish on Dogecoin, as he once predicted that the meme coin could rise to as high as $3 in this market cycle. At the time of writing, Dogecoin is trading around $0.098, down almost in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The total open interest of any asset can help to narrow down what traders are doing when it comes to a coin, and Dogecoin is no different. As with any metric, a rise or fall within a period of time can be significant as traders choose to take or not take positions in that asset. In Dogecoin’s case, there has been a decline in the open interest over the last week, and this could have some implications for the DOGE price going forward. Dogecoin Open Interest Falls 24% According to data from Coinglass, the Dogecoin open interest has fallen 24% in the last week alone. This figure comes from July 18 when the open interest hit $707 million, going into August, with a total open interest value of $420 million. Related Reading: XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2 This decline in the Dogecoin open interest follows the market crash that has rocked cryptocurrencies, eventually sending the DOGE price below $0.09 by Monday. It shows a drastic reduction in the number of open positions, suggesting a reduction in interest. This is not the lowest that the Dogecoin open interest has been this year. However, it is interesting due to the current condition of the market. For example, the Dogecoin price has erased most of its gains from last year, pushing it back toward February 2024 lows. The correlation between the Dogecoin price and the open interest is now more glaring with this crash. In the time that the open interest has fallen 24%, the Dogecoin price has seen around a 40% decrease in price. What Does Historical Data Say? With the correlation between open interest and the Dogecoin price, using historical data could help to narrow down what might be on the horizon for Dogecoin. For example, the last time that the Dogecoin open interest saw a sharp drop, the price also followed. In March 2024, the DOGE open interest peaked at $2.21 billion, and the price saw its highest level so far this year as well. Following this, there was a crash in open interest and the DOGE price went from $0.22 to $0.18 alongside it, all in the month of March. Related Reading: VanEck CEO Compares Bitcoin Adoption To Gold, Reveals Why Price Will Touch $350,000 This suggests that for a recovery to begin for the Dogecoin price, a rise in the open interest would be a good development. If the open interest flattens out from here, then the Dogecoin price could enter a phase of consolidation that could see it tread around $0.08 for a while. Mainly, however, a recovery for the DOGE price would be imminent if the Bitcoin price were to begin rising again. In this case, a market-wide rally would see Dogecoin follow, breaking the current bearish trend. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin (DOGE) has experienced a massive decline in the last 24 hours and has been one of the most affected tokens amid the widespread downtrend in the crypto market. Thanks to this, the foremost meme coin has dropped to levels not seen since February earlier this year. The Reason For The Dogecoin Price Crash Dogecoin […]
The Dogecoin price reaching double-digits remains a dream for its die-hard community, despite the meme coin failing to claim $1 even till now. Nevertheless, expectations that Dogecoin will eventually cross $10 remain high as one analyst has given reasons why the largest meme coin by market cap is set to surge by more than 7,200%. Dogecoin To Stage A Log Breakout Crypto analyst Javon Marks took to X (formerly Twitter) to share an interesting development on the Dogecoin chart. Marks points out that a Log Breakout could be on the horizon for the meme coin, which could lead to a massive surge in price. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens The reason for the analyst’s optimism toward the Log Breakout are what transpired for Dogecoin the previous two times that it has appeared. The first time this Log Breakout was completed for DOGE was back in the 2017-2018 bull market. This resulted in a 9,472% price increase, taking Dogecoin from a low of $0.0002 to a high of $0.01858. Then again, in the 2020-2021 bull market, Dogecoin would undergo another Log Breakout, this time leading to an even more prominent rally than before. This was the legendary 28,882% rally of 2021 when the DOGE price went from $0.0012 to almost $0.74. Given this historical performance and taking into account that breakouts like these often rhyme with their previous appearances, the crypto analyst believes that the Dogecoin price is set to undergo another major rally soon. How Far Can DOGE Rise? In his analysis, Marks presents his own expectations for the Dogecoin price should the Log Breakout be completed. According to the chart shared in the X post, Marks expects an at least 7,200% increase in the DOGE price from the current level. This would put the meme coin above $10 for the first time in history. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 The crypto analyst explains that each Log Breakout has led to a larger rally than the last, so this could mean that the DOGE price could rally higher. However, with the Dogecoin market cap already so large, such immense rallies could be hard-fought from here. In addition to Dogecoin, Shiba Inu is another meme coin that the crypto analyst is bullish on. In an earlier analysis, Marks pointed out that the second-largest meme coin by market cap had confirmed a macro Hidden Bullish Divergence. Given this, he expects that the Shiba Inu price could rise 354% from its current level to reach its all-time high levels around $0.000081. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin (DOGE) outlook is currently bullish, as technical indicators suggest that a golden cross is set to appear on the meme coin’s chart. Based on history, such development could mark the beginning of a massive rally for DOGE. Dogecoin On The Verge Of A Golden Cross Crypto analyst Kevin (formerly OG Yomi) mentioned in […]
Dogecoin (DOGE) has hit a significant milestone, as the number of wallet addresses holding the popular doggy themed meme coin has surged to 90 million. This massive increase underscores Dogecoin’s rising interest and adoption amongst investors. Dogecoin Could Hit $1 With New Milestone According to data from IntoTheBlock, Dogecoin has surpassed the 90 million threshold […]
Crypto analyst Trader Tardigrade has highlighted a historical pattern that led to the Dogecoin price surge in 2021. Based on his analysis, the foremost meme coin is ready for a similar price rally, which could happen soon enough. Dogecoin Repeating Chart 2021 Pattern Trader Tardigrade mentioned in an X (formerly Twitter) post that Dogecoin is repeating the same chart pattern from 2021. He noted that the meme coin was “ready to go” and suggested that Dogecoin’s price rally would begin once the bull run returns into full gear. Dogecoin made an incredible run of over 28,000% in 2021, meaning that such an impressive price rally might be on the horizon again for the foremost meme coin. Related Reading: Ethereum Bulls Gear Up For Recovery – Can Spot ETFs Push Price To New Highs? Crypto analyst Javon Marks had previously predicted that Dogecoin would make a better run than it did in the 2021 bull run. He made this prediction because the meme coin has always surpassed its previous run in every subsequent bull run. Based on this, Marks predicted that Dogecoin could rise to as high as $17 in this market cycle. Crypto analyst Ali Martinez also once predicted that Dogecoin could rise to double digits in this market cycle. He made this prediction while noting that the meme coin looked to be mirroring its 2021 pattern. He added that this could be a “massive parabolic bull run” for Dogecoin if that were the case. These crypto analysts form a long list of persons who have made bullish predictions for Dogecoin. Although not as bullish as Marks and Matinez, someone like crypto analyst Kevin (formerly OG Yomi) has predicted that Dogecoin could rise to as high as $3 in this bull run. Crypto analyst Altcoin Sherpa also predicted that Dogecoin will eventually rise to $1in this market cycle. Meanwhile, crypto analyst Andrew Kang made a bullish case for Dogecoin heading into the latter parts of the bull run. He stated that meme coins account for most of the altcoins that will make new highs by year-end or the beginning of 2025. DOGE Ready For A Huge Reboud Trader Tardigrade recently predicted that Dogecoin could rise to as high as $0.14 when it makes this “huge rebound.” He made this prediction while stating that the meme coin has been “playing Wyckoff Accumulation,” meaning that Dogecoin whales have been adding their positions. The crypto added that “spring is here right now,” alluding to the massive bounce that Dogoicoin could make from its current price level. Related Reading: Bullish Bitcoin Indicator Which Led To A Reversal Has Returned, Is $70,000 Possible? Dogecoin was one of the most affected coins following the recent market downtrend. This was mainly due to the meme coin’s strong price correlation with Bitcoin. However, with the flagship crypto back above $60,000, Dogecoin also looks primed for a massive rally, which could send its price to new highs. At the time of writing, Dogecoin is trading at around $0.11, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Timeless Crypto has made a bullish case for FLOKI, stating why he prefers the meme coin above other blue chip meme coins like Dogecoin (DOGE). The analyst also predicted that FLOKI could end up making a hug run by year-end. Why This Analyst Is Bullish On Floki Timeless Crypto mentioned in an X […]
Dogecoin (DOGE) could be on the brink of a major bullish reversal based on a technical indicator recently flashing a bullish signal for the meme coin. While highlighting the bullish signal, crypto analyst Ali Martinez also hinted at how high Dogecoin could rise when this reversal occurs. A Rebound For Dogecoin On The Horizon Martinez mentioned in an X (formerly Twitter) post that the TD Sequential is presenting a buy signal on Dogecoin’s 3-day chart, thereby “predicting a rebound of one to four candlesticks for DOGE.” Based on the chart he shared, Dogecoin could enjoy a reversal to around $0.17, the area in which it began its downtrend in early June. Related Reading: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs A massive rebound for Dogecoin will undoubtedly be a welcome development for its holders, who have had to deal with the meme coin’s bearish outlook for some time now. Dogecoin failed to make any impressive rally, while other foremost meme coins rallied following Roaring Kitty’s return. Meanwhile, the meme coin took one of the worst hits following the recent avalanche that plagued the crypto market. Bitcoin led altcoins on a downward trend towards the end of June. However, with the flagship crypto reversing and back above $63,000, Dogecoin could also enjoy an impressive recovery from its current price level. Moreover, data from the market intelligence platform IntoTheBlock shows a strong positive correlation between Dogecoin’s price and Bitcoin’s. As such, Dogecoin could significantly move to the upside as the flagship crypto rebounds. Crypto analyst Kevin (formerly OG Yomi) also recently provided a bullish narrative for Dogecoin. He stated that his indicator had flashed a weekly buy signal for the first time since the meme coin was at $0.05. Additionally, Kevin noted that Dogecoin is about two green weekly candles away from confirming its first weekly golden cross in four years. He claimed that this is something to watch, suggesting that Dogecoin’s rally could be parabolic when this happens. DOGE Could Reach $0.6 On Next Leg Up Crypto analyst Javon Marks recently predicted that Dogecoin could reach $0.6 on its next leg up. He stated that the move towards the breakout target at $0.6533 “may be a matter of time, and prices could be preparing here for a break above.” The crypto analyst seemed confident as he again reaffirmed that a price rally of over 400% to reach this target might already be loading. Related Reading: SEC Serves Fresh Lawsuit To Metamask Developer Consensys – What’s The Problem This Time? Marks had previously predicted that Dogecoin would rise to as high as $17 in this bull run. He claimed that such a meteoric move was possible based on the meme coin’s historical trend. He noted that the foremost meme coin has always made a larger run in every subsequent bull run, meaning it could enjoy a rally that will overshadow its price move of 22,800% in the 2021 bull run. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin is down by 6.87% in the past 24 hours after a brief cooldown in bearishness. However, the downturn has given Dogecoin a hint of bullish reversal as it has entered a historically prominent buy zone. Interestingly, this is suggested by the MVRV ratio, which currently hints at a very bullish short-term bounce for DOGE. […]
The Dogecoin price has taken an interesting turn in the last day, going against the bearish wave that has wracked the majority of the crypto market. Given that the meme coin is green at a time when the majority of the market is nursing losses, it has led to speculations as to what could be […]
Dogecoin is currently at a critical price junction that might determine its price trajectory in the short term. Although the meme coin has witnessed a significant price drop in the past seven days, recent whale activity suggests that the tide might change soon. Notably, large holders of DOGE have been taking advantage of the price drop to accumulate millions of DOGE. Per data from Santiment, an on-chain analytics platform, addresses holding between 10 million and 100 million Dogecoins have collectively accumulated more than $129 million worth of DOGE in the past seven days. Dogecoin Whales Accumulate DOGE According to the on-chain data from Santiment, whales have increased their accumulation in the past week despite the price decline for the meme coin. Remarkably, these whale addresses have bought over 900 million tokens in seven days, suggesting their faith in DOGE despite the price downturn. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Consequently, on-chain data shows the number of coins owned by this cohort of traders has increased by approximately 5% to a collective 18 billion tokens. A look at the chart above reveals that the collective holdings of these whale wallets have generally been on an uptick since the last week of March. During periods of price increases, the accumulation has typically exhibited an upward tendency and remained stable during periods of price drops. However, the recent accumulation is different because it comes alongside a corresponding price decrease, showing a different strategy from the whale wallets. Interestingly, similar data from IntoTheBlock suggests a similar increase in activity on DOGE alongside the whale accumulation. This uptick in activity saw around 9.29 billion DOGE tokens traded in the past 24 hours. Additionally, 1,500 transactions were concluded in the past 24 hours, implying traders are actively exchanging DOGE. How Whale Transactions Impact DOGE Price Considering its meme coin status, Dogecoin is highly influenced by sentiment among traders and particularly huge investors. These big investors, known as “whales” in crypto lingo, can have a significant impact on Dogecoin’s price when they move their funds around. Their buying activity triggers bullish momentum by pumping up demand, which drives the price higher as other traders follow their lead. Related Reading: Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’ Interestingly, this recent whale accumulation comes as a much-needed catalyst for bullish momentum. At the time of writing, DOGE is trading at $0.1428 and has been down by 11.29% in the past seven days. However, this decline seems to be slowing down, with DOGE only registering a 0.6% loss in the past 24 hours. According to a crypto analyst, this spiral towards $0.14 is forming an important generational bottom for DOGE. Featured image created with Dall.E, chart from Tradingview.com
Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced price declines of over 10% this week. The downtrend experienced by these meme coins is likely due to the macro side, which has cast doubts in the minds of crypto investors. The US Fed’s Hawkish Stance Has Cast A Shadow Of Doubt Dogecoin and Shiba Inu are […]
A crypto pundit has declared that Dogecoin (DOGE) and Solana (SOL) have reached their “make it or break it levels.” This assessment is set to generate a wave of optimism as DOGE and SOL could be getting ready for a rebound soon. Dogecoin And Solana At Make It Or Break It Point A Crypto analyst […]
Dogecoin has been one of the most talked-about cryptocurrencies recently and has continued to maintain its position as the largest meme coin in the market. Its recent price action has left much to be desired, leaving investors wondering where the price might be headed next. However, an important bullish formation just showed up on the […]
Crypto analyst Ali Martinez recently revealed the bearish sentiment surrounding Dogecoin (DOGE). Interestingly, he suggested this might be a good opportunity to invest in the foremost meme coin as things could soon turn bullish. The Bearish Sentiment Around Dogecoin Martinez mentioned in an X (formerly Twitter) post that the market sentiment for Dogecoin is as bearish as it was in early February. Specifically, the crypto analyst was referring to Dogecoin’s social volume and weighted sentiment, which were currently signaling a negative sentiment towards the meme coin. Related Reading: Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top This social volume metric refers to how much the crypto token is discussed across social media platforms. Therefore, the decline in Dogecoin’s social volume suggests that traders are currently paying more attention to other meme coins. This is expected given how Dogecoin’s price has lagged for a while now, with other meme coins like Dogwifhat (WIF) and Pepe (PEPE) recording significant gains. However, Martinez suggested that Dogecoin could enjoy a bullish reversal soon enough, revealing that Dogecoin’s price skyrocketed by over 200% back in February when it was plagued with such bearish sentiment. Dogecoin whales seem to have taken the hint and used this opportunity to accumulate more of the meme coin. Martinez revealed that these investors have already purchased 700 million ($112 million). The crypto analyst also mentioned that these whales have bought an additional 200 million DOGE since May 30. This is undoubtedly in anticipation of the significant price gains that Dogecoin could make soon enough. Crypto analyst Altcoin Sherpa also recently raised the possibility of Dogecoin rising to as high as $0.40 soon enough. He claimed that this would happen as retail investors accumulate the meme coin. He further alluded to Elon Musk’s influence on the meme coin and stated that “all it takes is one retarded Elon tweet to blow it (Dogecoin) up.” He added that Dogecoin has “great liquidity/low downside” compared to other meme coins. DOGE Season Around The Corner Crypto analyst Crypto Kaleo recently predicted that Dogecoin’s season might be around the corner. He alluded to the fact that Dogecoin rose significantly in 2021 after GameStop’s stock hit its peak in early 2021. He believes that Dogecoin could again rally once GameStop hits its market top. Related Reading: XRP Hasn’t Had A Bull Cycle Since 2017, Analyst Reveals What Will Happen When It Does In another X post, Kaleo revealed that he is confident that Dogecoin can outpace Bitcoin in this cycle. He suggested that Dogecoin’s current price action is normal, claiming that the meme coin “moves sideways for extended periods, followed by rapid vertical growth.” The crypto analyst also noted that the market is in a meme supercycle and remarked that the “king of memes won’t be left behind.” At the time of writing, Dogecoin is trading at around $0.15, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst CrediBULL Crypto has again revealed his bearish expectations for Dogecoin (DOGE). The analyst explained how the foremost meme coin could decline significantly based on Bitcoin’s price action. How DOGE’s Price Could “Bleed Down” CrediBULL Crypto mentioned in an X (formerly Twitter) post that there are two ways that Dogecoin’s price could reject and […]
Expectations for the prices of Dogecoin and Shiba Inu have deviated as a machine learning algorithm has predicted where the price of these two meme coins will be in the month of June 2024. While the machine learning algorithm expects the price of Shiba Inu to do well in the coming month, it has taken […]
The Dogecoin (DOGE) future trajectory continues to be heavily discussed, with crypto analysts weighing where the foremost meme coin is headed. Crypto analyst Capt Toblerone’s analysis comes under the spotlight, given how the foremost meme coin’s price action has continued to align with his prediction. DOGE’s 30% Crash Still In Play In an X (formerly […]
Crypto analyst Crypto Kaleo has laid out a bullish narrative for Dogecoin (DOGE). Based on his analysis, the foremost meme coin may make a parabolic run to the upside soon enough. The analyst also alluded to history to reaffirm that this rally will definitely happen. “It’s Almost Time” For A Good Dogecoin Pump Crypto Kaleo […]
Dogecoin seems to have flipped into a bullish momentum, at least in the short term, prompting analysts to predict bullish outlooks in the short term. Particularly, DOGE is up by 7% in the past 24 hours and is still on a 14% increase in the past 3 days. Current price action shows the cryptocurrency is […]
A number of Dogecoin metrics have turned bullish in the last few days, showing increased interest from investors. This ranges from the meme coin’s daily derivatives trading volumes to its open interest seeing a significant increase. However, in the midst of this, the Dogecoin price has remained limp, sparking worries among investors. Dogecoin Derivatives Volume And Open Interest See Increase One of the major Dogecoin metrics that has seen a significant increase recently is its derivatives trading volume. The trend began on Monday when the derivatives trading volume saw a 60% uptick. However, it seems DOGE traders are far from done as the volume has almost doubled since that time. Related Reading: Analyst Points Out Level To Beat If Bitcoin Is To Reach $76,000 According to data from Coinglass, the Dogecoin derivatives trading volume is up 111% in the last day alone. This has pushed the derivatives trading volume to $3.85 billion, a significant increase from the $1.99 billion that was recorded on Monday. The launch of Dogecoin futures contracts by Coinbase, the leading crypto exchange in the United States, may have something to do with this. Following the launch on April 1, 2024, the meme coin has seen increased interest in its derivatives products, which explains the increase in the volume. However, the derivatives trading volume is not the only thing that has seen an uptick during this time. As Coinglass data shows, the Dogecoin open interest has also risen significantly during this time. It has seen an approximately 12% increase in the last day to touch above $830 million. Despite this increase in the Dogecoin open interest, it is still a long way from its all-time high of $1.91 billion that was recorded on March 29. So, the current open interest of $830 million represents an over 50% decline from its all-time high. At the same time, the DOGE price is still struggling, showing a disconnect between the rise in metrics and the price of the meme coin. DOGE Price Doesn’t Respond To Bullish Metrics The Dogecoin price has remained muted during this time, even with the increased momentum. The total daily trading volume of the meme coin is up 128% in the last day. However, its price has barely moved 4%, even amid the meme coin craze sparked by the GameStop (GME) 100% rally. Related Reading: Analyst Who Predicted Solana’s 1,100% Move Reveals Where The Altcoin Is Headed Next DOGEs price has barely moved during this time and the resistance at $0.15 is waxing stronger. This suggests that the focus is no longer on Dogecoin during meme coin craze and rather on newer counterparts such as Solana-based GME and AMC, which have seen incredible rallies in the last day. At the time of writing, the DOGE price is trending at $0.49, with a 3.48% increase in the last day. However, in the longer time frame, the meme coin is struggling with 5.79% and 4% losses on the weekly and monthly charts, respectively. Featured image from New York Magazine, chart from Tradingview.com
Dogecoin holders are accumulating DOGE tokens amidst the recent price dip from $0.1686 to $0.1423. DOGE recently went on a price surge to cross above the $0.168 price level on May 6 to push 5.21 million addresses into profitability. However, the cryptocurrency reversed and went on a little correction throughout May 7. According to on-chain […]
Asset manager VanEck has made an entry into the meme coin space with the launch of an index that will track the performance of the foremost meme coins. This is undoubtedly a signifcant development considering the wider adoption these tokens could enjoy as a result of this. What VanEck’s Meme Coin Index Is About VanEck’s […]
Major cryptocurrencies have exhibited an interesting price dynamic in the past few days. According to data from Coinmarketcap, the majority of cryptocurrencies, including Dogecoin, have posted losses in the past 24 hours. On the other hand, some of these cryptocurrencies are still on a price increase when looking at a larger timeframe and many more […]
Dogecoin has now presumably entered a long-term bullish rally that could send its price higher from here, according to one crypto analyst. This comes after the price had crashed below $0.13, before a swift recovery brought it back above $0.16. So what is driving this current bull rally? Dogecoin Ready For Long-Term Bullish Rally Crypto […]
The Dogecoin open interest has seen a massive crash in the last month, leading to concerns about the future prospects of the meme coin. It is now a long way from its March all-time highs and has returned to the low levels of early February. Dogecoin Open Interest Sees 66.5% Crash In March, the Dogecoin […]
Dogecoin suffered a significant crash in the bloodbath that rocked the crypto market earlier this week, notching double-digit losses in the process. This has sent its support lower, and $0.112-$0.123 is now the level to hold for the meme coin. But what if it falls below this support? Dogecoin Must Hold Support At $0.112-$0.123 Crypto […]
As April comes to a bearish close, expectations for Dogecoin in May are not exactly bullish, especially as the crypto market has continued to fall. DOGE has been one of the main losers during this time, falling below $0.14. This underperformance is expected to continue as the machine learning algorithm at CoinCodex predicts further decline for the meme coin. Algorithm Predicts Another 13% Decline Despite the Dogecoin price already suffering a notable 14% decline in the last week, the machine learning algorithm believes it will fall another 13% in the month of May. The machine learning algorithm, which takes a number of metrics into consideration, presented that the DOGE price remains very bearish despite the market still sitting in greed. For the month of May, the algorithm expects the meme coin’s price to decline by a total of 13.66% from here, falling below $0.13 to $0.1238. Even on the shorter term, the Dogecoin price remains bearish with an expected 1% decline to $0.14 in the next five days. On the broader timeframe, expectations for the meme coin are not high as the machine learning algorithm does not expect the cryptocurrency to reach a new all-time high until 2029. For the year 2025, it gives the meme coin a yearly high of over $0.66, which is less than its current all-time high price of $0.7. The next two years after this are expected to be bearish as the price is predicted to fluctuate around $0.126 and $0.25. Then, a new all-time high price of $1.4 is expected. If this plays out, then it would mean that Dogecoin investors would have to wait another five years to see new peaks. Dogecoin Metrics Tell A Different Story While the machine learning algorithm remains bearish, the Dogecoin metrics have been painting a picture of bullishness. For example, there has been a steady increase in the Dogecoin trading volume, rising 28% in the last day alone. This suggests a return of investor interest and if it translates into demand, it could see the price rise rapidly from here. There has also been an accumulation trend for the meme coin, especially among whales. One whale, in particular, withdrew 226 million DOGE from the Robinhood exchange in two transactions. Usually, when investors move coins from exchanges to private wallets, it means they are accumulating for better prices. This could signal a turn in the tide. However, at the time of writing, the Dogecoin price is still struggling at $0.135, with a 4% drop in the last 24 hours. A reversal from here could see DOGE retest the $0.15 resistance. But a breakdown could send it back toward $0.12. DOGE price breaks down below $0.14 | Source: DOGEUSDT on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com
Pepe (PEPE) has been one of the best-performing crypto assets since the beginning of the year, with a year-to-date (YTD) gain of over 400%. This crypto analyst predicts that PEPE can continue this impressive run and become the largest meme coin by market cap, ahead of Dogecoin and Shiba Inu. PEPE To Flip Dogecoin (DOGE) And […]