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
In a technical analysis, noted crypto analyst Big Mike (@Michael_EWpro), has revealed a bullish forecast for Dogecoin (DOGE) that suggests the meme coin could surpass the $1 threshold in this bull cycle. The Dogecoin price prediction is rooted in the Elliott Wave theory, and is further reinforced by a robust set of technical indicators that underscore the coin’s strong upward potential. Dogecoin Could Peak Above $1 In 2025 The weekly chart (DOGE/USDT) highlights Dogecoin’s previous market performance, where it completed a 5-wave Elliott Wave pattern during the last significant bull run. This pattern saw the price of Dogecoin escalate to just above $0.70. Following this surge, the market entered a corrective phase characterized by a WXY pattern—a complex Elliott Wave correction structure that typically consists of three distinct price movements. This corrective phase marked a period of consolidation and retraction in Dogecoin’s price trajectory following its peak. Related Reading: Dogecoin To The Moon? Crypto Analyst Predicts 440% Price Increase Since late 2023, according to Big Mike’s analysis, Dogecoin has embarked on a new 5-wave pattern. This nascent formation is anticipated to drive the Dogecoin price significantly higher than its previous highs. The first wave propelled the DOGE price to a peak just shy of $0.23. Following this, the second wave commenced, resulting in a retracement that pulled the price down to as low as $0.1140. The analysis indicates that Dogecoin is currently in the initial stages of the third wave of this Elliott Wave pattern. Traditionally, the third wave is the most dynamic and typically extends the furthest, especially within a strong bullish context. Notably, Big Mike highlights the existence of an ascending channel starting from the onset of wave 1 further corroborates the bullish sentiment maintained in this analysis. This channel maps out the potential pathway that Dogecoin might follow as it aims for new highs. The wave 3 could peak at the upper trendline of the channel, at around $0.60. Related Reading: Dogecoin Profitability Rises To 75% As Shiba Inu Plunges To 52% Wave 4 could potentially pull the Dogecoin price back to the lower boundary of the ascending channel, approximately around $0.25. This retracement would set the stage for Wave 5, the climactic phase of the Dogecoin bull run, which is projected to propel DOGE above the $1 mark, coinciding with the upper resistance line of the channel. The chart carefully marks critical Fibonacci extension levels which are drawn from the beginning to the peak of the last bull run. that are expected to play pivotal roles in determining future price points during this bull run. The first notable Fibonacci extension at 2.618 is positioned at approximately $0.14591, serving as an intermediate station within the bull cycle. The 3.618 extension at $0.68835 serves as an intermediary target for the final fifth wave. The Volume Profile Visible Range (VPVR) on the chart reveals that the current price zone has a high concentration of traded volume, suggesting it acts as a robust foundation for the current price level. The absence of significant volume above this area hints at minimal resistance, which could allow for an accelerated price climb once Dogecoin breaks above existing resistance levels. Technical indicators such as the weekly Stochastic RSI and the weekly Relative Strength Index (RSI) support an imminent bullish phase. The Stochastic RSI is in the oversold region, indicating potential for a price recovery. Meanwhile, the RSI’s upward trend with higher lows suggests growing bullish momentum. At press time, DOGE traded at $0.1247. 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. […]
Dogecoin started another decline from the $0.1285 resistance zone against the US Dollar. DOGE is consolidating and might resume its decline below $0.1220. DOGE price is moving lower below the $0.1250 support zone. The price is trading below the $0.1250 level and the 100-hourly simple moving average. There is a key rising channel or a bearish flag pattern forming with support near $0.1220 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1260 and $0.1285 to gain bullish momentum and start a fresh increase. Dogecoin Price Dips Again After a decent recovery wave, Dogecoin price faced resistance near the $0.1285 zone. DOGE failed to continue higher and started a fresh decline from the $0.1285 high like Bitcoin and Ethereum. There was a move below the $0.1250 support level and the 100-hourly simple moving average. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.1129 swing low to the $0.1285 high. However, the bulls are now active near the $0.1220 zone. Dogecoin is now trading below the $0.1250 level and the 100-hourly simple moving average. There is also a key rising channel or a bearish flag pattern forming with support near $0.1220 on the hourly chart of the DOGE/USD pair. If there is a fresh increase, the price might face resistance near the $0.1260 level. The next major resistance is near the $0.1285 level. A close above the $0.1285 resistance might send the price toward the $0.1350 resistance. Any more gains might send the price toward the $0.1420 level. The next major stop for the bulls might be $0.150. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1285 level, it could continue to move down. Initial support on the downside is near the $0.1220 level. The next major support is near the $0.1185 level. If there is a downside break below the $0.1185 support, the price could decline further. In the stated case, the price might decline toward the $0.1120 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.1220, $0.1185 and $0.1120. Major Resistance Levels – $0.1260, $0.1285, and $0.1320.
On-chain data shows the Dogecoin whales have been shaving off their holdings over the past year, a sign that could be bearish for the memecoin. Dogecoin Whales Have Notably Reduced Their Supply In The Last Year According to data from the market intelligence platform IntoTheBlock, DOGE whales have lost supply share to other holder groups […]
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 […]
The on-chain analytics firm Santiment has revealed that Dogecoin and Cardano are two assets that look “very bullish” according to this metric. Dogecoin & Cardano Currently Have Low 30-Day MVRV Ratios In a new post on X, Santiment has discussed about how some of the top assets in the cryptocurrency sector are looking like right now in terms of the Market Value to Realized Value (MVRV) Ratio. The MVRV Ratio is a popular on-chain indicator that keeps track of the ratio between the market cap and realized cap for any given coin. The market cap here naturally refers to the simple total valuation of the asset’s supply at the current price. The realized cap is also a method of calculating the valuation of the cryptocurrency, but the twist here is that this model doesn’t take the value of all tokens in circulation the same as the spot price. Rather, this model assumes that the “real” value of any coin is the same as the price at which it was last transferred on the blockchain. Related Reading: Hard To Be “Too Scared Of Bitcoin Price Action,” Says Analyst. Here’s Why Generally, the last transaction can be assumed to be the last point at which the coin changed hands, so the price at its time could be considered to be its current cost basis. As such, the realized cap basically calculates the sum of the cost basis of every coin in circulation. One way to view the model, therefore, is as a measure of the total amount of capital that the investors have used to purchase the total Bitcoin supply in circulation. Since the MVRV ratio compares the market cap, which represents the value that the investors are holding right now, against this initial investment, its value can tell us about the profit-loss status of the market as a whole. Now, here is the chart shared by the analytics firm that reveals the recent trend in the 30-day MVRV ratio of six top coins: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Dogecoin (DOGE), Toncoin (TON), and Cardano (ADA). The 30-day MVRV Ratio only includes the data for the investors who bought their coins within the past month. Thus, its value reflects the profit-loss balance of these new buyers. From the graph, it’s visible that the indicator is at negative levels for all of these assets right now, implying that the 30-day investors would be at a loss. This may not actually be bad, though, as Santiment notes, “the lower a cryptocurrency’s 30-day MVRV is, the higher the likelihood we see a short-term bounce.” At present, Bitcoin, Ethereum, and XRP are seeing small negative values, suggesting that these assets may be slightly undervalued. The metric stands at just -0.6% for Toncoin, though, implying that TON is more or less neutral currently. Related Reading: XRP, Dogecoin, & Shiba Inu All See Negative Sentiment: Signal To Buy? Dogecoin and Cardano, on the other hand, stand out with their 30-day MVRV Ratios of -16.7% and -12.6%, respectively. These values are deep enough that Santiment has labelled these coins as “very bullish.” It now remains to be seen how DOGE and ADA develop in the coming days, given this potential positive signal in the MVRV Ratio. DOGE Price Dogecoin has been riding on bearish momentum over the last couple of weeks as its price has now dropped to $0.125. Featured image from Dall-E, Santiment.net, chart from TradingView.com
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 […]
Dogecoin has observed a plummet of 11% over the past week, but this decline may not continue further, as DOGE is now just above a major on-chain support block. Dogecoin Is Now Just Above A Major On-Chain Demand Zone According to data from the market intelligence platform IntoTheBlock, DOGE is currently above a zone of significant on-chain demand. In on-chain analysis, “demand zones” refer to price ranges in which many investors buy their coins. Related Reading: Solana Set For “A Major 53% Price Move,” Analyst Reveals Why These zones are determined using blockchain data; the average price at which an address receives deposits is considered its cost basis. Below is a chart showing how the Dogecoin price levels near the current one are based on how many addresses share their cost basis with them. In the graph, the size of the dots corresponds to the number of addresses that acquired their coins within the respective range. It would appear that the $0.096 to $0.139 range currently looks to be the largest Dogecoin price range in terms of this metric. More specifically, 409,330 addresses acquired a total of 45 billion DOGE inside this range. Now, what’s the relevance of this demand zone, or any other one, for that matter? Generally, the cost basis is an important level for any investor, so they may be more prone to show some reaction when the spot price of the cryptocurrency retests it. A few investors showing this reaction would naturally not be relevant for the broader market. Still, if many of them share their cost basis inside the same narrow range, then a retest could produce a large reaction for the price to feel its effects. The demand zone around the average price of $0.115 had many addresses acquire their coins there, so its retest could be significant for the memecoin. As the current Dogecoin price is above this range, these investors who bought inside the range would be sitting on some profits. Historically, such demand zones below the price have acted as points of support for the cryptocurrency. This is because investor psychology tends to work out, so these holders who were in profits before the retest may believe the price would go up again so they could decide to buy more of the asset. On the other hand, investors in the red before the retest can fuel the cryptocurrency’s resistance as they sell in fear that the price will fall again. “On the upside, DOGE may face resistance around the $0.16 level, where 20 billion DOGE is presently held at a loss,” notes IntoTheBlock. Related Reading: Why Is Bitcoin Stagnant Despite ETF Inflows? Report Answers It remains to be seen whether the on-chain demand zone below would help stop the memecoin’s decline if its price drops enough to retest it. DOGE Price The past week has been a bad time for Dogecoin investors as the asset’s price has crashed around 11%. Following this drawdown, DOGE is now trading around $0.142. Featured image from iStock.com, IntoTheBlock.com, chart from TradingView.com
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 […]
As the meme coin mania persists, popular cryptocurrency expert and enthusiast Javon Marks, in a bullish outlook for Dogecoin (DOGE), has predicted the crypto asset to undergo a 4x surge, projecting it to reach a new all-time high and potentially climbing higher. Impending 4x Spike For Dogecoin To New All-Time High This optimistic forecast, which […]
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 […]
In a recent ruling that could have implications for the crypto industry, the US Supreme Court unanimously sided against US-based cryptocurrency exchange Coinbase, over a 2021 Dogecoin (DOGE) sweepstakes dispute. The court’s decision, delivered by Justice Ketanji Brown Jackson, dismissed Coinbase’s argument that a ruling against it would invite legal turmoil, emphasizing the importance of contractual agreements and the role of courts in resolving disputes. Coinbase Arguments Dismissed The key issue was whether the dispute should be submitted to arbitration or litigated in court. According to Bloomberg Law, the court emphasized that arbitration requires the consent of the parties and that in cases involving conflicting contracts, the court must determine the parties’ intent. Coinbase had contended that a ruling against it would “create chaos” by encouraging parties to challenge arbitration agreements. However, the court rejected this concern, stating that it did not foresee such chaos arising from its decision. Related Reading: Is $77,600 The Next Step For Bitcoin? On-Chain Pricing Model Hints So The case revolved around a sweepstakes in which consumers alleged they were deceived into paying $100 to participate. The conflict emerged due to the presence of two contracts that pointed to different dispute resolution mechanisms. David Suski and others who participated sued the exchange and the company that ran the Dogecoin sweepstakes. They alleged violations of California’s false advertising law, unfair competition law, and the Consumer Legal Remedies Act. While a general user agreement mandated arbitration for all disputes, a sweepstakes-specific contract stipulated that disputes must be brought before a California court. Varying Outcomes In Future Cases? Justice Jackson highlighted the need for a court to determine which contract should govern the resolution of the dispute in such situations. However, the court refrained from addressing whether the Ninth Circuit Court of Appeals correctly determined that the sweepstakes-specific contract “superseded” the general user agreement, deeming it beyond the scope of the question presented. Justice Neil Gorsuch provided a concurring opinion, emphasizing the contractual nature of arbitration and suggesting that different facts could yield a different outcome. He noted that the enforceability of arbitration depended on the parties’ agreement. Related Reading: Déjà Vu? Bitcoin Price Eyes Repeat Performance, Could Hit $140,000 By August – Analyst Coinbase’s Chief Legal Officer, Paul Grewal, reflected on the ruling, acknowledging both victories and defeats. Grewal expressed gratitude for the opportunity to present their case to the court and appreciated their consideration of the matter. Double-Digit Drop For COIN, DOGE Follows Suit Following the verdict, Coinbase stock, which trades under the ticker COIN, took a significant hit, plunging over 11% to a valuation of $220. This decline came as a surprise given the initial expectations of a potential victory. Prior to the ruling, Coinbase’s stock had reached a high of $240 on Wednesday. At the same time, the dog-themed meme cryptocurrency DOGE has also experienced a retracement of more than 4% over the past 24 hours, resulting in a current trading price of $0.158. Featured image from Shutterstock, chart from TradingView.com
Amidst a significant surge displayed by Dogecoin (DOGE) recently, popular crypto analyst Crypto Daily Trade Signals has identified a symmetrical triangle pattern in the price movements of the crypto asset, indicating a possible continuation of the present rising trend. Based on the expert analysis, Dogecoin, which has attracted a lot of attention and interest from investors lately, may be preparing to build on its current momentum and make more gains. Significance Of Dogecoin Symmetrical Triangle Pattern A symmetrical triangle chart pattern is a consolidation phase that precedes a forced breakout or decline in price. A new bearish trend begins with a breakdown from the lower trend line, while a new bullish trend begins with a breakout from the upper trend line. Related Reading: Dogecoin Successfully Breaks Out Above $0.153, What Next? According to the analyst, the symmetrical triangle pattern presents a major obstacle for DOGE at the $0.1545 price level. At the same time, the 50-day Exponential Moving Average (EMA) continues to provide support at the $0.1513 level. Even though the current market price is above the 50 EMA and suggests a bullish bias, Crypto Daily Trade Signals noted that Dogecoin has to surpass the resistance level of $0.1595 in order to confirm that the upward trend is continuing. This perspective is further strengthened by the Relative Strength Index (RSI), which is currently above the 50 EMA and supports a purchasing trend. The post read: Dogecoin has formed a symmetrical triangle pattern, presenting a significant hurdle around the $0.1545 mark. Simultaneously, support persists around the $0.1513 level, reinforced by the 50-day EMA. The expert highlighted that DOGE is at a pivotal point around $0.15100 on the 4-hour chart, indicating a bullish momentum, and an immediate resistance at the $0.15950 mark. The first obstacle to be cleared is the immediate resistance at $0.15950, which is followed by the $0.16980 and $0.18440 levels. Although caution is advised if DOGE drops below the pivot point, the RSI’s current position indicates an opportunity for more profits. Thus far, the upward trend is supported by a firm base provided by the 50-day EMA around $0.15130. Meanwhile, on the negative side, $0.14270 provides immediate support, while $0.13240 and $0.12030 provide additional levels of support, with the RSI at 53, which denotes neutral conditions. Is $12 DOGE Possible? Crypto analyst Javin Marks has also shared insights on Dogecoin’s recent price action, predicting a potential massive rally to $12. According to the expert, based on previous breakouts and runs, DOGE has maintained its broken status once more. Related Reading: Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead These runs have become bigger one after the other, and the last run recorded over 20,000% upsurge. Given the nature of the runs, Javon Marks anticipates the recent run, which might be in its early stage now, to be bigger than the last one. As a result, the expert experts DOGE to reach $12 or even higher following the run. Also, Marks noted that after the run has concluded, DOGE could see another massive rise of over 7,500%. Featured image from iStock, chart from Tradingview.com
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 corrected gains and tested the $0.150 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1520. DOGE price jumped toward $0.160 before correcting gains. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1540 to move into a positive zone and start a fresh surge. Dogecoin Price Holds Support After a steady increase, Dogecoin price faced resistance near the $0.160 zone. A high was formed at $0.1594 before DOGE started a downside correction like Bitcoin and Ethereum. There was a drop below the $0.1540 support zone. A low was formed at $0.1488 and DOGE is now consolidating for the next move. Dogecoin is still trading above the $0.150 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.1515 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. The next major resistance is near the $0.1540 level or the 50% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. A close above the $0.1540 resistance might send the price toward the $0.160 resistance. Any more gains might send the price toward the $0.1650 level. The next major stop for the bulls might be $0.1720. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1540 level, it could start another decline. Initial support on the downside is near the $0.150 level and the trend line. The next major support is near the $0.1445 level. If there is a downside break below the $0.1445 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1500, $0.1445 and $0.1350. Major Resistance Levels – $0.1515, $0.1540, and $0.1600.
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 […]
Dogecoin extended losses and traded below the $0.1350 resistance zone against the US Dollar. DOGE is now testing an important support at $0.1200. DOGE gained bearish momentum below the $0.140 and $0.1350 levels against the US dollar. The price is trading below the $0.1350 level and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance at $0.1350 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1420 to move into a positive zone and start a fresh surge. Dogecoin Price Extends Losses After a close below $0.150, Dogecoin price extended losses and moved into a short-term bearish zone, like Bitcoin and Ethereum. There was a drop below the $0.1350 support zone. A low was formed at $0.1201 and DOGE is now consolidating losses. There was a minor recovery wave above the $0.1250 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.1640 swing high to the $0.1201 low. However, the bears protected more gains above the $0.130 resistance. Dogecoin is also below the $0.1420 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.130 level. Source: DOGEUSD on TradingView.com The next major resistance is near the $0.1350 level. There is also a major bearish trend line forming with resistance at $0.1350 on the 4-hour chart of the DOGE/USD pair. The main hurdle is at $0.1420. A close above the $0.1420 resistance and the 50% Fib retracement level of the downward move from the $0.1640 swing high to the $0.1201 low might send the price toward the $0.1550 resistance. Any more gains might send the price toward the $0.1620 level. More Losses in DOGE? If DOGE’s price fails to gain pace above the $0.1350 level, it could start another decline. Initial support on the downside is near the $0.1220 level. The next major support is near the $0.120 level. If there is a downside break below the $0.120 support, the price could decline further. In the stated case, the price might decline toward the $0.1040 level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.1240, $0.1200 and $0.1040. Major Resistance Levels – $0.1300, $0.1350, and $0.1420.