The Dogecoin price action has returned into a bullish trend in the past 24 hours after spending the majority of the past seven days on a correction path. Particularly, the Dogecoin price is currently up by about 4.5% in the past 24 hours. According to crypto analyst Master Kenobi, Dogecoin’s market movement appears to be […]
Crypto analyst KrissPax has predicted that the Dogecoin price can rally to as high as $3 in this market cycle. The analyst further explained how the foremost meme coin will reach this price target using the Logarithmic scale. Dogecoin Price To Reach $3 In an X post, KrissPax highlighted a path for the Dogecoin price to reach $3. He drew attention to a Dogecoin chart that connects the monthly tops of 2017 and 2021, with an arc representing diminishing returns with a larger market cap, using a logarithmic scale. He suggested that the first step to reaching this $3 target will be for Dogecoin to reach $1. However, the analyst is convinced that the meme coin can reach $3 in this cycle. Based on crypto analyst Trader Tardigrade’s recent analysis, this Dogecoin price rally to $1 could happen soon, putting the rally to $3 in motion. In an X post, the analyst said the Dogecoin Relative Strength Index (RSI) has been bouncing up from the oversold zone on a 4-hour chart. The recent RSI bounces from the same zone caused Dogecoin to surge 40% and 200%. The crypto analyst added that the pump intensity is even getting stronger. In line with this, he remarked that it won’t be surprising if the Dogecoin price spikes beyond the 200% level and rallies above $1.15. Trader Tardigrade also recently predicted that Dogecoin could rise as high as $3.52. This came as he noted how the meme coin always enjoys a 2x increase from previous local tops. Meanwhile, as these crypto analysts have suggested, this $3 target might not be the market top for the Dogecoin price in this market cycle. Crypto analyst Philip recently predicted that Dogecoin could at least reach a conservative target of $5. The analyst made this prediction in relation to DOGE’s performance in previous cycles. Anything Above $5 Is Unrealistic In an X post, crypto analyst Master Kenobi asserted that any chart projecting the Dogecoin price above $5 in this market cycle is unrealistic. He made this claim in relation to what Dogecoin’s market cap would be if it were to reach targets above $5, which he believes cannot happen in this bull run. Master Kenobi warned investors about looking forward to these price targets above $5 as they risk becoming bagholders for another four years. As to how high he believes the Dogecoin price can rise in this cycle, the analyst predicts that the range between $1 and $2 is realistic. He is confident that the rally to $1 could mirror Bitcoin’s rally from $1,000 to $10,000, and the rally to $2 could happen the same way BTC rallied$10,000 to $20,000 in just two weeks. At the time of writing, the Dogecoin price is trading at around $0.4, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Philip has asserted that the Dogecoin price rally is only just beginning despite the gain of over 300%, which the foremost meme coin has enjoyed this year. The analyst used technical analysis to explain why DOGE will still go way higher. Dogecoin Price Rally Is Still In Early Stages In a TradingView post, […]
A crypto pundit has suggested that the Dogecoin price rally is far from over, forecasting mid-term targets between $2.2 and $3.46 for the dog-themed meme coin. According to his detailed price chart, Dogecoin is currently in wave 3 of the Elliott Wave Theory and set for a significant price surge. Analyst Predicts Dogecoin Price Macro Target Hov, a crypto analyst on X (formerly Twitter), has discussed Dogecoin‘s future price movements based on the Elliott Wave Theory and its current price action. The analyst noted that the meme coin has received a remarkable 690% rally since recently reaching a critical macro entry level. Related Reading: Bitcoin Price Crash Not Over? Why A Decline To $89,000 Is Possible According to Hov’s chart analysis, the Dogecoin price action is currently in the midst of its third Elliott Wave, a phase often characterized by solid price growth. The third wave is typically seen as the strongest of all five wave motive sequences of the Elliott Wave theory and is also considered bullish. The price chart shows that Dogecoin is entering its third wave after recently breaking out of a prolonged consolidation period within a critical support zone around $0.27. While Hov has forecasted a rise to the macro targets at $2.2 – $3.46, the analyst has also revealed that the Dogecoin price could reach an ultimate target of $4.2 if it maintains a strong bullish momentum. This substantial price increase would require Dogecoin surging by 976% from its current value. Analyst Reveals Next Dogecoin Local Tops While the DOGE price steadily approaches the $1 mark, crypto analyst Trader Tardigrade has released the upcoming local tops for the number one meme coin. The analyst disclosed that Dogecoin had successfully recorded multiple local market tops in the last year following a substantial price rally. He also revealed that each local top had a 2X relationship, where the Dogecoin price had doubled in the previous three local tops. Related Reading: Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What’s Next Following the analyst’s chart, Dogecoin reached a local top of $0.11 in October 2023, jumping 2X to hit another top of around $0.22 in April 2024. Interestingly, the same bullish pattern occurred again around October this year, with the meme coin doubling its previous price high to reach a local price peak of around $0.44 this month. Based on this bullish pattern, where the Dogecoin price has historically multiplied by 2X with each local top, Trader Tardigrade predicts that the meme coin will continue this trend until it reaches an all-time high of $5. The analyst has projected that Dogecoin could see its next local top at $0.88 by April 2025. Additionally, around July 2025, the analyst predicts that Dogecoin will double again and surpass the $1 milestone to hit $1.76. Extending towards October 2025, the analyst has also projected that the Dogecoin price is expected to rally to $3.52. Featured image created with Dall.E, chart from Tradingview.com
The first-ever Dogecoin Exchange Traded Product (ETP) has been officially launched, sparking excitement for a possible DOGE price rally. Combined with several other bullish factors which have fueled the recent surge in the DOGE price, this new ETP positions the top meme coin for a potential 100% increase to new highs. Valour Launches First Dogecoin […]
Bitcoin’s strong recovery shows aggressive buying on every minor dip, but the bulls may struggle to overcome the $100,000 resistance.
Some analysts foresee a more than 1,000% Dogecoin price increase based on emerging technical chart patterns.
Dogecoin is consolidating losses above the $0.3650 support against the US Dollar. DOGE could restart increase if it clears the $0.400 resistance. DOGE price started a downside correction below the $0.420 level. The price is trading below the $0.400 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.3920 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start another increase if it clears the $0.400 and $0.4100 resistance levels. Dogecoin Price Eyes Fresh Increase Dogecoin price started a downside correction below $0.450 like Bitcoin and Ethereum. DOGE traded below the $0.420 and $0.400 support levels. A low was formed at $0.3646 and the price is now consolidating losses. There was a minor increase above the $0.380 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.4808 swing high to the $0.3646 low. However, the bears seem to be active below the $0.40 level. Dogecoin price is now trading above the $0.40 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3920 level. There is also a key bearish trend line forming with resistance at $0.3920 on the hourly chart of the DOGE/USD pair. The first major resistance for the bulls could be near the $0.400 level. The next major resistance is near the $0.4220 level or the 50% Fib retracement level of the downward move from the $0.4808 swing high to the $0.3646 low. A close above the $0.4220 resistance might send the price toward the $0.4520 resistance. Any more gains might send the price toward the $0.4800 level. The next major stop for the bulls might be $0.500. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.400 level, it could start another decline. Initial support on the downside is near the $0.3780 level. The next major support is near the $0.3650 level. The main support sits at $0.3500. If there is a downside break below the $0.3500 support, the price could decline further. In the stated case, the price might decline toward the $0.3200 level or even $0.300 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 near the 50 level. Major Support Levels – $0.3780 and $0.3650. Major Resistance Levels – $0.4000 and $0.4220.
The Dogecoin price is up almost 150% since the start of this month, as the foremost meme coin continues to enjoy a massive bull run. Crypto analyst Alan Santana has provided insights into what is driving this rally and whether it is sustainable. What Is Driving The Dogecoin Price Rally In a TradingView post, Alan […]
Valour said its product launched on Sweden’s Spotlight Stock Market represents a first-of-its-kind for the region.
The Dogecoin price has been gearing up for a major bull rally since it rose to the $0.4 threshold and began testing this resistance. Shedding light on Dogecoin’s future bullish trajectory, a crypto analyst has discussed the importance of the $0.22 50-day Moving Average (MA) in determining the Dogecoin price movements in this bull cycle. How The 50-Day MA Impacts The Dogecoin Price Rally The 50-day MA is a technical indicator that highlights a cryptocurrency’s average price over the last 50 trading days. It is primarily used to identify price trends, determine resistance and support levels, and generate buy and sell signals. Related Reading: Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good Kevin, a crypto analyst on X (formerly Twitter), has underscored the significance of this critical technical indicator in the recent Dogecoin price movements and its influence on the meme coin’s future bull rally. The analyst disclosed that historically, during Dogecoin’s previous bull markets, its price consistently stayed above the 50-day MA, never losing this crucial threshold despite testing it multiple times. Typically, staying above the 50-day MA is seen as a bullish indicator, while consistently dropping below this average suggests a downtrend. Presenting a detailed chart of Dogecoin’s price action in the last bull cycle in late 2020 to date, Kevin disclosed that the current 50-day MA for the meme coin is at $0.22. However, this price threshold is rising quickly as Dogecoin closes each daily candle. Additionally, the rapid increase suggests that if Dogecoin can remain steady around or above the 50-day MA, its price should see a significant bullish trend continuation, providing a strong foundation for even higher prices. Dogecoin Enters Distribution Phase, $9.5 Target In Sight In a different X post, Trader Tardigrade, a prominent crypto market expert, declared that Dogecoin has officially entered the Distribution phase in the classic Power of Three (PO3) market cycle. The PO3 cycle is a popular concept in technical analysis used to identify key market phases — Accumulation, Distribution, and Manipulation. Related Reading: Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily With Dogecoin now firmly in the Distribution phase, large holders may be offloading their assets, potentially locking in profits following DOGE’s recent price increase. While the distribution phase could be seen as the end of a bull rally characterized by sell-offs and slow momentum, Trader Tardigrade believes that this phase could be calm before a massive price surge. The analyst shared two price charts comparing Dogecoin’s movements during the bull cycle between 2016 and 2017 and its future price action in 2024 and 2025. In the 2017 bull market, Dogecoin entered a distribution phase, which led to a significant bull rally to new levels above $0.00066. If this trend holds true for Dogecoin’s current distribution phase, Trader Tardigrade has predicted that its price could surge as high as $9.5 from its current value of $0.4. Featured image created with Dall.E, chart from Tradingview.com
The ETP will trade on Sweden’s Spotlight Stock Market, offering investors' access to the world's largest memecoin.
DeFi Technologies, a publicly traded Canadian firm, has announced the launch of its subsidiary Valour Inc.’s new product—the Valour Dogecoin (DOGE) ETP—on the Sweden-based Spotlight Stock Market, according to a Nov. 26 statement. This marks the first Dogecoin ETP in the Nordics, giving investors a secure and simplified way to gain exposure to the popular […]
The post Dogecoin gains ground in Nordics with first-ever ETP introduction appeared first on CryptoSlate.
Changpeng Zhao urges the crypto world to prioritize real blockchain solutions over memecoins, highlighting the shift in market dynamics.
In the last few days, there have been big changes in crypto land. In just 24 hours, more than $550 million was liquidated. When Bitcoin fell to its weekly low, it caused a flood of sell-offs that caused about 170,000 traders to lose money on their accounts. Related Reading: Solana (SOL) ATH Sparks $309 Price Prediction Frenzy – Details Coinglass reports such tremendous losses to be placed at $118 million in BTC longs, $54 million in ETH longs, and even $25 million in Dogecoin long positions. This surge in liquidations, in conjunction with a decrease in market capitalization and trading volume, emphasizes the volatility that traders have come to anticipate. This is perceived by analysts as a component of a more extensive pattern of corrections that have occurred in the wake of Bitcoin’s recent rally to near-record levels. Bitcoin Dominance & Liquidation Trends Bitcoin’s dominance remains robust, with a current market capitalization of $3.23 trillion, which accounts for over 56% of the total crypto market. The highest liquidation of the day was a $4.67 million BTC/USDT exchange on Binance, which is indicative of the high stakes involved in leveraged trading. Additionally, altcoins were not spared. Significant declines were observed in tokens with a smaller market capitalization, with the broader market losing approximately $100 million. Some analysts think this is just another usual correction, following the hefty close to 44% rise in Bitcoin price since early November. At present, the crypto Fear and Greed Index stands at 82, suggesting that the prevailing dominance in the market is still “Extreme Greed.” Ethereum And Altcoins Maintain Their Poise Ethereum remains resilient, despite the fact that it was not spared from the day’s losses. The uncertain sentiment surrounding the second-largest cryptocurrency was underscored by a combination of long and short liquidations in ETH positions. In the interim, altcoins such as Dogecoin, which were frequently bolstered by meme-driven enthusiasm, experienced the repercussions of market corrections, a warning to traders who were seeking rapid profits. An industry analyst named Miles Deutscher noticed that more traders are reactivating their wallets after not using them for months. They are doing this because they are interested in the possibility of altcoins and Bitcoin’s strong performance. As the market continues to follow its usual trends, this increase in activity could lead to both growth and volatility. Related Reading: XRP Below $1? Not Happening, Claims Millionaire Analyst The Road Ahead For Bitcoin At $92,801, Bitcoin still lags somewhat behind its all-time high of $99,750, attained earlier this month. The next action divides analysts; some believe the market is ready for consolidation prior to another surge beyond $100,000. Others caution that overlevers may cause short-term greater volatility. Investors are keenly monitoring market mood and macroeconomic factors. Although current conditions may promote bullish momentum, the crypto market’s severe price volatility and huge leverage risks remind us of its unpredictable nature. Featured image from DALL-E, chart from TradingView
Dogecoin was one of the best-performing crypto assets following a recent upswing in the general market in the past few weeks. However, considering several indicators and current price action, a correction might be forthcoming for the largest meme coin. Bearish Price Signal Emerges For Dogecoin Dogecoin’s renewed price uptrend could be poised for a setback […]
On-chain data shows a Dogecoin whale has just transferred a large amount of DOGE to Coinbase, something that could be bearish for the price. Dogecoin Whale Has Made A Large Exchange Inflow Today According to data from the cryptocurrency transaction tracker service Whale Alert, a couple of large transactions have occurred on the DOGE network […]
The Dogecoin Foundation is seeking donors to fuel its Dogebox initiative, with the aim of driving mass adoption.
Traders continue to place their bets on Elon Musk's favorite coin: Dogecoin. Open interest for the asset surged to over $4 billion Saturday.
Crypto analyst Master Kenobi has provided a bullish update for the Dogecoin price, predicting that the foremost meme coin can reach as high as $2.8. In his update, the analyst also explained why Dogecoin’s outlook is still bullish. Dogecoin Price To $2.8 And Why It Can Happen In his DOGE update, Master Kenobi shared an […]
Bitcoin’s failure to cross above $100,000 could extend the current price pullback. The real question is whether or not bulls will buy the dip.
The rivalry between meme coins is taking center stage once again. Max, a crypto analyst on X (formerly Twitter), has predicted a substantial price increase for Dogecoin (DOGE) and Pepe (PEPE) in the current bull cycle. The analyst has identified which popular meme coins are set to dominate the market and those worth holding for […]
Co-led by Elon Musk, the Department of Government Efficiency (DOGE) aims to massively cut U.S. spending under President-elect Donald Trump.
Recent movements of the Dogecoin price have seen the meme cryptocurrency breaking to the upside of a bull flag pattern. This bull flag pattern took shape during a consolidation that began after the Dogecoin price reached a new yearly high on November 12. Interestingly, Dogecoin price action over the weekend has seen an upward breakout […]
In a new analysis, prominent crypto analyst Miles Deutscher unveiled his thesis on a crypto he believes could rival Dogecoin in this market cycle. With a following of over 550,000 on X and 208,000 YouTube subscribers, Deutscher’s insights carry significant weight in the crypto community. Titled “I Just Found The Next DOGE! [10X Potential… Or More?],” Deutscher’s video explores the untapped potential of Luckycoin (LKY)—a meme coin that not only predates Dogecoin but was instrumental in its creation. “Dogecoin was originally a fork of a cryptocurrency called Luckycoin, itself a fork of Litecoin,” Deutscher highlighted, referencing Dogecoin’s official website. This connection places Luckycoin at the very foundation of Dogecoin’s existence. Is Luckycoin The ‘Next Dogecoin’? To substantiate his claim, Deutscher cited a podcast featuring Jackson Palmer, co-creator of Dogecoin. Palmer stated: “You know, you were asking me before the show, like, why was there a decision to fork Luckycoin, which was itself a fork of Litecoin, which itself is a fork of Bitcoin… And that’s because Luckycoin had this whole notion of random block rewards built in.” Related Reading: Dogecoin Extends Rally – Can This Lead To A Breakout Above $0.82? Deutscher further pointed out that Dogecoin’s source code contains lines nearly identical to Luckycoin’s, with the primary difference being the replacement of “Luckycoin” with “Dogecoin.” Luckycoin, launched in May 2013, saw its network halt in November 2013. The last original block, numbered 81,743, was mined on November 26, 2013. The reasons for its dormancy included the disappearance of its founder and the unsustainable nature of its random block rewards, which deterred miners. However, on August 25, 2024, the network was revived starting from block 81,744. This community-led takeover has reignited interest in Luckycoin, making it one of the oldest actively mined chains in existence. “This makes it the longest-running meme coin blockchain ever. What’s the next oldest running meme coin blockchain? Well, it’s Doge, and Luckycoin is actually older than Doge,” Deutscher emphasized. The revival has led to a dramatic increase in Luckycoin’s hash rate. At one point, it surpassed Litecoin and Dogecoin. “When you see a spike like this in the interest for mining a coin, there’s two reasons for it: One, when price increases, this creates a flywheel of more people mining because they see that there’s profitability there. Two, exchanges who actually want to list a coin that may not have the necessary supply […] The only way for them to acquire enough Lucky to list is actually to mine the coin themselves,” Deutscher explained. Notably, industry insider Crypto Dog hinted at major exchanges mining Luckycoin: “Not naming names, but I know one tier-one exchange is currently accumulating Lucky through LTC merge mining.” Deutscher addressed the discrepancies in Luckycoin’s market capitalization reported on platforms like CoinMarketCap and CoinGecko, which list it around $100 million. He argued that these figures are misleading due to lost or dormant coins from the early mining days. Related Reading: Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You By accounting for approximately 8 million Luckycoins that are likely lost or inaccessible, Deutscher calculated the true active supply to be around 6.2 million Luckycoins. At the current price of $9, this places Luckycoin’s market cap at approximately $56 million. Comparing this to Dogecoin’s $64 billion market cap, Deutscher highlighted the potential for growth: “Luckycoin is a 1,141x away from Doge, which is a massive discrepancy and, I think, a really powerful shelling point for retail because this is the OG Doge.” Deutscher presented a series of scenarios illustrating Luckycoin’s potential: 5x Increase: Market cap reaches $282 million, representing 0.44% of Dogecoin’s market cap. 10x Increase: Achieves 1% of Dogecoin’s market cap at $600 million. 20x Increase: Reaches 1.75% of Dogecoin’s market cap at $1.1 billion. Emphasizing the importance of storytelling in crypto, Deutscher stated: “Crypto is driven by narratives; crypto is driven by stories. I personally haven’t found a story this compelling in crypto in a long time.” He believes that Luckycoin’s rich history and direct connection to Dogecoin provide a compelling narrative that could resonate with both retail investors and the broader crypto community. Looking ahead, Deutscher identified the upcoming Chinese New Year on January 29th as a potential catalyst. In Chinese culture, luck and prosperity are highly valued, and Luckycoin’s branding aligns seamlessly with these themes. “Chinese culture is all about luck, prosperity, wealth, and health. Luckycoin is literally the epitome of this […] If China picks up this narrative, the stars are basically aligning for this coin to perform really, really well,” he suggested. Currently, Luckycoin is not widely available on major exchanges, which Deutscher views as both a challenge and an opportunity. “It’s not on a Bybit, an OKX, a Binance, a Coinbase… It’s only just been listed on MEXC. Because it’s not on big exchanges, liquidity is thin […] Once it becomes accessible […] that could potentially lead to the floodgates opening on retail coming in and actually buying this coin,” he noted. Beyond his own advocacy, Deutscher highlighted that other influential figures are beginning to discuss Luckycoin. Notably, Ansem, known for his influence on Solana-based projects, has acknowledged Luckycoin as the “OG Doge.” “The important thing here is the fact that he knows about it and he’s talking about it […] I think this will only continue to gain traction, not only because it’s got the OG Doge narrative in a cycle where Doge is performing so well but also because it has that Chinese New Year narrative as well,” Deutscher predicted. Deutscher disclosed his own investment in Luckycoin, having accumulated it between $2.20 and $3.20. He emphasized transparency, stating: “I’m not paid to do this video. I’m not paid because there is no team. I wasn’t given a discounted OTC. I put my own money in; I backed this myself. I’ve picked up this narrative myself because I believe in it.” While bullish on Luckycoin’s prospects, Deutscher cautioned about the inherent risks: “This is a risky meme. It’s a 50 million market cap meme. It could potentially crash. I don’t know what’s going to happen […] Memecoins are risky, right? There’s no sure bets.” At press time, LKR traded at $15.64. Featured image created with DALL.E, chart from TradingView.com
Last week was another positive period for the Dogecoin price. After concluding the prior week in a phase of consolidation, the meme cryptocurrency carried this trend into the early days of the new week. However, the Dogecoin price kicked off a new 25% rally on Friday, November 22, to create a new 2024 high. Related Reading: Top Analyst Claims XRP New ATH Is Just Around The Corner – Details Interestingly, this new rally saw the Dogecoin price break a bull flag to the upside. Such a rally has brought into focus the perspective of the Dogecoin price reaching a new all-time high before the end of the year. Dogecoin Price Rally Teases Breakout To $0.82 King of meme coins Dogecoin surged by about 25% as the week drew to a close, reaching an intraday high of $0.4759 on Saturday. This rally is particularly noteworthy, as it suggests that the Dogecoin price has finally resumed another leg up after a brief consolidation since it hit $0.43 earlier on November 14. Renowned crypto analyst Ali Martinez highlighted the significance of this rally in a post on X, drawing attention to Dogecoin’s decisive breakout above a bull flag pattern. According to Martinez, this technical breakout could set the stage for a much larger rally, with his projection targeting a bullish move toward $0.82. If achieved, this price level would represent an impressive increase of approximately 90% from the current Dogecoin price. #Dogecoin $DOGE is in the middle of a bullish breakout to $0.82! https://t.co/KjLJQ7ZkNm pic.twitter.com/Rib4XImoTT — Ali (@ali_charts) November 23, 2024 How Feasible Is The Dogecoin Rally To $0.82? Before the Dogecoin price can rally to the $0.82 price level, it would first need to surpass its long-standing all-time high of $0.7316, a milestone that has remained unbroken for over three years. At the time of writing, Dogecoin is trading at $0.4287, reflecting a slight pullback from its recent intraday peak of $0.4759. This retreat shows that the consolidation phase is not yet complete, as resistance appears to have formed near the $0.43 level and has created a sell wall that must be overcome. Breaking toward the all-time high would first require Dogecoin to achieve a decisive and sustained breach above the $0.43 threshold, which remains a critical level for regaining upward momentum. Interestingly, recent whale activity points to a potential upswing for the meme coin in in the coming week. On-chain data reveals that large holders, or “whales,” have been actively accumulating, purchasing over 550 million DOGE tokens worth an estimated $214.5 million. Related Reading: Chainlink Rockets 20%: Whale Activity Sparks Break From Bear Trend These whale addresses, which typically hold between 10 million and 100 million DOGE, are often seen as influential in shaping market trends. Their growing activity could signal confidence in the Dogecoin price and provide the necessary support for a significant break above $0.43 this week. Featured image from DALL-E, chart from TradingView
Crypto analyst Master Kenobi has made a bold two-day prediction for the Dogecoin price, stating that it will hit a new all-time high (ATH) in the next two days. The analyst highlighted Dogecoin’s Relative Strength Index (RSI), which he suggested is very bullish for the meme coin at the moment. Related Reading: XRP Gains Momentum: Whale Activity Points To $15 Breakthrough Dogecoin Price To Reach ATH In Two Days In an X post, Master Kenobi predicted that the Dogecoin price could reach a new ATH in two days. The analyst stated that Dogecoin’s 4-hour RSI chart appears to confirm his fractal setup. Based on this, he remarked that the leg up could potentially reach $0.85 by November 25th, marking a new ATH for the foremost meme coin. Master Kenobi added that some might even identify a potential bullish divergence within the RSI chart. Such a pattern also presents a bullish outlook for the Dogecoin price, indicating that the meme coin is set to witness a bullish reversal to the upside. This bullish reversal is already happening, as DOGE has successfully broken above $0.4. It is worth mentioning that crypto analyst Trader Tardigrade highlighted a bullish divergence on the 4-hour RSI chart. The analyst noted that this signal indicates an uptrend continuation in the Dogecoin price movement. His accompanying chart showed that DOGE could reach $0.7 on its next leg up. This will bring the meme coin close to its ATH of $0.73. Meanwhile, even if the Dogecoin price doesn’t hit a new ATH by November 25, another of Master Kebobi’s analyses shows that it could happen by December 2. The analyst had previously highlighted a 91-day sequence, which he said Dogecoin is about to complete and suggested would lead to a price rally to $1 by December 2. The Next Resistance Level To Watch Out For With the Dogecoin price successfully breaking above $0.4, crypto analyst Kevin Capital has provided insights into the next resistance level to watch out for. In an X post, he noted that Dogecoin is breaking out of the macro .786 Fib level. He added that the next resistance is $0.54, followed by the meme coin’s current ATH at $0.73. Crypto analyst Javon Marks also confirmed that a rally to the current ATH for the Dogecoin price was in sight. In an X post, he said Dogecoin was surging towards $0.6533 and could break out of that level once it reached the target. He added that this 52.2% price surge to $0.6533 could happen quickly and that a rally to $1.25 comes into play once that happens. Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China At the time of writing, the Dogecoin price is trading at around $0.46, up over 16% in the last 24 hours, according to data from CoinMarketCap. Featured image from Reddit, chart from TradingView
The Dogecoin price has entered another stage of bullish momentum that has reignited inflows from traders. Notably, the DOGE price has surged by about 16.3% over the past 24 hours. This surge has brought into focus the possibility of the DOGE price reaching a new all-time high this year. Interestingly, a crypto analyst on the […]
The Dogecoin price, which has been on a consolidation trend since November 12, has given rise to a rare and bullish chart pattern known as the high tight flag. This pattern, which is like the bull flag, is setting up the Dogecoin price for a significant upward movement. Analyst Highlights Bullish High Tight Flag Pattern […]
The Dogecoin price has recently exhibited a classic bull flag pattern on its price chart, a technical indicator often signaling continued upward momentum. The Dogecoin price has mostly traded below $0.4 in the past seven days on the back of a continued price consolidation. At the time of writing, Dogecoin is trading at $0.39, sitting firmly within the consolidation phase of this bull flag pattern. KrissPax Identifies Key Target For Dogecoin Price This development of a bull flag pattern was highlighted on the social media platform X by crypto analyst KrissPax, which relays to the current bullish sentiment surrounding the DOGE price. Particularly, this bull flag pattern was highlighted on the 2-hour candlestick chart of the Dogecoin price. Related Reading: Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels A bull flag pattern is characterized by a sharp price increase (the flagpole) followed by a period of consolidation in a downward-sloping channel (the flag). This formation suggests that, upon breaking above the upper trendline of the flag, the asset may resume its prior uptrend. In the case of the DOGE price, the flag pole was created by the Dogecoin price rally from November 8 until it peaked at $0.446. Since then, a consolidation has led to the creation of a flag. As KrissPax noted, a successful breakout to the upside would push the DOGE price toward $0.60. Interestingly, the analyst expects this breakout to happen by Friday. Clean bull flag on the Dogecoin chart – target $0.60. Could we see the start of the next $DOGE breakout on Friday? Meanwhile, Dogecoin still trading right in the middle of the flag at 38 cents. pic.twitter.com/kR6WSxMQI5 — KrissPax (@krisspax) November 22, 2024 Market Expectations For DOGE’s Next Move At the time of writing, Dogecoin is trading at $0.393. A move towards the $0.6 mark would translate to a price increase of about 53% from the current price. Furthermore, reaching the $0.6 price target would put the Dogecoin price at a new 2024 high and a three-year high, but still about 22% from its current all-time high of $0.7326. Related Reading: Bitcoin Price ATH Set To Cross $139,000 According To Previous Election Cycles KrissPax’s $0.6 price target plays into a bullish outlook of the DOGE price among many crypto analysts and traders. Supporting this bullish outlook, other analysts have observed similar patterns. For instance, a report from Bitcoinist noted that the Dogecoin price could rally to its all-time high of $0.73, paving the way for a surge to the much-anticipated $1 level. Furthermore, other analysts have predicted that the DOGE price could reach $2 by the end of the year at the current pace of price growth. This bullish outlook for the Dogecoin price cuts across every part of the Dogecoin ecosystem. On-chain data has shown that Dogecoin whales are taking advantage of the price decline to load up on their holdings. Particularly, Dogecoin whale addresses holding 10 million to 100 million DOGE tokens have bought more than 550 million DOGE over the past week, worth around $214.5 million. Featured image created with Dall.E, chart from Tradingview.com