BONK is facing mounting bearish pressure as technical indicators signal growing weakness in the market. After a brief attempt to stabilize, the token appears to be losing momentum dropping again toward the $0.00004002 for another test, with key metrics pointing to further downside. As BONK navigates these challenging conditions, speculations are on whether the meme coin can reclaim its footing or if deeper losses are inevitable. This analysis dives into BONK’s current market performance under bearish conditions, highlighting the technical indicators that signal potential weakness. Furthermore, we will assess the likelihood of a recovery or a continuation of BONK’s downward trajectory by analyzing critical support levels, market trends, and the broader outlook, Technical Indicators Signal Growing Weakness For BONK On the 4-hour chart, BONK exhibits negative sentiment, trading below the 100-day Simple Moving Average (SMA) as it trends downward toward the $0.00004002 support level. A continued descent to this support suggests that selling pressure is intensifying, and if the support fails to hold, the asset could experience more declines. Also, an analysis of the 4-hour chart reveals that the Relative Strength Index (RSI) has now declined to the 44% level following a previous attempt to rally, which peaked at 49% before losing strength. A declining RSI, particularly as it remains below the neutral 50% level, indicates that bearish momentum is building. If the RSI continues to dip, it could further validate the downtrend, potentially leading to more significant price drops as selling pressure intensifies. Related Reading: BONK In Trouble As Sharp Decline Hints At An Impending Pullback On the daily chart, the meme coin displays notable downward movement, highlighted by a bearish candlestick with a strong rejection wick that has emerged after a failed recovery attempt. The inability to sustain an upside direction implies a lack of buyer confidence and a prevailing negative sentiment in the market. As BONK aims at the $0.00004002 support level, the pressure from sellers could intensify, raising concerns about the possibility of a breakdown. Finally, the 1-day RSI shows increasing negative pressure on the cryptocurrency, with the signal line dropping sharply from the overbought zone to 56%. This decline marks a shift in momentum, indicating that buying strength is weakening and selling pressure is rising. Should the RSI continue to fall, it could signal sustained pessimistic sentiment and declines for BONK. Bounce Back Or Further Decline? Two potential scenarios are likely as BONK faces bearish pressure: a bounce back or further decline. If the meme coin can hold the critical $0.00004002 support level and attract renewed buying interest, it could spark a recovery, possibly reversing the current downtrend and pushing the price to the $0.00006247 resistance range and beyond. Related Reading: Bonk Downward Drift To $0.00002635, Can Bulls Ignite A Trend Reversal? However, if selling pressure persists and BONK fails to sustain the $0.00004002 support level, a deeper decline may follow, with the price potentially dropping to lower support zones, including $0.00002962, $0.00002320, and below. Featured image from X, chart from Tradingview.com
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.
Dogecoin is consolidating gains above the $0.380 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.400. DOGE price started a fresh increase above the $0.3750 resistance level. The price is trading above the $0.3800 level and the 100-hourly simple moving average. There was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.400 and $0.4080 resistance levels. Dogecoin Price Eyes More Upsides Dogecoin price remained supported above the $0.350 level and recently started a fresh increase like Bitcoin and Ethereum. DOGE was able to clear the $0.3650 and $0.3750 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low. Besides, there was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.3750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3950 level or the 61.8% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low. The first major resistance for the bulls could be near the $0.400 level. The next major resistance is near the $0.4080 level. A close above the $0.4080 resistance might send the price toward the $0.4200 resistance. Any more gains might send the price toward the $0.4500 level. The next major stop for the bulls might be $0.500. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.400 level, it could start a downside correction. Initial support on the downside is near the $0.3850 level. The next major support is near the $0.3750 level. The main support sits at $0.3550. If there is a downside break below the $0.3550 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 gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.3850 and $0.3750. Major Resistance Levels – $0.4000 and $0.4200.
The much-anticipated major bull run for Dogecoin could be on the horizon as a crypto expert has asserted that DOGE is preparing for its next rally, potentially to a new all-time high. This prediction comes after DOGE’s recent upswing in the last few weeks, suggesting a revival of its bullish momentum. Dogecoin Poised For Massive Gains In The Upcoming Weeks Amidst rising optimism in Dogecoin, Trader Tardigrade, a seasoned crypto expert and investor, has declared that the meme coin is gearing up for its next major run. Trader Tardigrade shared his prognosis on the X (formerly Twitter) platform, which has sparked excitement within the Dogecoin community. Related Reading: Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next? The market expert claims DOGE is poised for its next bull run after citing key price patterns on its chart, particularly the Hidden Bullish Divergence formation, showing that the dog-themed meme coin is building strength for a potential breakout. A bullish hidden divergence formation typically happens within a downtrend, indicating a possible reversal or slowing of the downward momentum. Trader Tardigrade cited the key pattern in the 4-hour time frame of Dogecoin’s Relative Strength Index (RSI). According to the analyst, this crucial indicator offers early signs of a sustained upside trend in Dogecoin, allowing the digital asset to reach higher highs. As DOGE prepares for its next significant rally, Trader Tardigrade expects 2 major pumps to take place in the short term, demonstrating his robust confidence in the asset’s near-term prospects. His prognosis is based on historical price trends, whereby DOGE saw multiple rallies to its market top in the last two bull cycles. For the first pump, the expert has placed his next target at the $2 price level. Meanwhile, the second pump is set to trigger a move to the $20 threshold should history repeat itself. As a result, the analyst believes DOGE’s bull run has just started, noting it is still early to capitalize on the upswing. DOGE’s Market Top Coming Soon Than Expected? According to crypto analyst, Dima James Potts, Dogecoin’s market top appears to be much closer than widely expected. He made the claims after identifying price trends akin to previous cycle tops. Related Reading: Dogecoin Price To $1 Soon? Textbook Weekly Golden Cross Shows What’s Coming Next In the first and second cycles, DOGE witnessed a surge of 21,821% and 54,890%, respectively, from its bear market low to its peaks. Although the third cycle has not yet topped, should past events reoccur, James Potts expects DOGE to top around January 19, 2025, since the meme coin has often reached its peak in approximately 1446 days. DOGE’s market top for this cycle might be fast approaching, but the expert is confident that this cycle’s rally might be larger than the past occasions as the percentage gains in each previous cycle have risen, placing his target at $36. With indications of a resurgence in the general cryptocurrency landscape, Dogecoin might take advantage of the renewed momentum and see more increases in the upcoming days. Featured image from Unsplash, chart from Tradingview.com
Dogecoin’s recent significant price surge may have slowed down, leading to a brief price pullback after hitting the $0.42 level. However, the dog-themed meme coin’s rally could only be the beginning, as several crypto analysts predict a possible upswing to new all-time highs, particularly the $1 milestone. $1 Milestone Still Within Reach For Dogecoin? In […]
Dogecoin is consolidating gains above the $0.320 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.400. DOGE price started a consolidating like Bitcoin and stayed above the $0.320 resistance level. The price is trading near the $0.3750 level and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.3670 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.400 and $0.4150 resistance levels. Dogecoin Price Eyes Fresh Surge Dogecoin price started a consolidating phase above the $0.320 zone like Bitcoin and Ethereum. DOGE formed a base above $0.350 and is currently rising. There was a move above the $0.3550 and $0.3620 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.4342 swing high to the $0.3400 low. There was also a break above a key bearish trend line with resistance at $0.3670 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading near the $0.3750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3720 level. The next major resistance is near the $0.3880 level or the 50% Fib retracement level of the downward move from the $0.4342 swing high to the $0.3400 low. A close above the $0.3880 resistance might send the price toward the $0.400 resistance. Any more gains might send the price toward the $0.4200 level. The next major stop for the bulls might be $0.500. Are Dips Limited In DOGE? If DOGE’s price fails to climb above the $0.3720 level, it could start a downside correction. Initial support on the downside is near the $0.3650 level. The next major support is near the $0.3500 level. The main support sits at $0.320. If there is a downside break below the $0.320 support, the price could decline further. In the stated case, the price might decline toward the $0.300 level or even $0.2950 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.3650 and $0.3500. Major Resistance Levels – $0.3720 and $0.3880.
The vault has been filled in excess of an initial $100,000 target as of Asian morning hours, with $240,000 worth of stablecoins deposited for CAT on Solana, data shows.
Dogecoin in the past few weeks has displayed immense price strength breaking past crucial resistance levels, sparking optimism about its short-term performance. However, this upward momentum could be poised for notable price swings as a crypto analyst has predicted pullbacks in the upcoming days. Historical Trends Puts Dogecoin Investors On A Bumpy Ride Ali Martinez, […]
Dogecoin started a fresh surge above the $0.320 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.4180. DOGE price started a fresh rally like Bitcoin and climbed above the $0.350 resistance level. The price is trading above the $0.3650 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3870 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.400 and $0.4150 resistance levels. Dogecoin Price Eyes Fresh Surge Dogecoin price started a fresh surge after it cleared the $0.320 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.3800 and $0.400 resistance levels. The pair even surged above $0.4200. A high was formed at $0.4342 and the price is now correcting gains. There was a move below the $0.40 level. The price dipped below the 50% Fib retracement level of the upward move from the $0.3519 swing low to the $0.4342 high. However, the bulls are active near the $0.3850 zone. Dogecoin price is now trading above the $0.3650 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.3870 on the hourly chart of the DOGE/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.3519 swing low to the $0.4342 high. Immediate resistance on the upside is near the $0.400 level. The next major resistance is near the $0.4150 level. A close above the $0.4150 resistance might send the price toward the $0.4320 resistance. Any more gains might send the price toward the $0.4500 level. The next major stop for the bulls might be $0.4650. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.4150 level, it could start a downside correction. Initial support on the downside is near the $0.3870 level and the trend line. The next major support is near the $0.3715 level. The main support sits at $0.3420. If there is a downside break below the $0.3420 support, the price could decline further. In the stated case, the price might decline toward the $0.3150 level or even $0.300 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.3870 and $0.3715. Major Resistance Levels – $0.4000 and $0.4150.
Following the renewed upward price strength of Dogecoin, the largest meme coin, there has been a significant uptick in adoption over the past few weeks, as evidenced by a recent notable rise in small DOGE wallets. As DOGE continues to attract more gains, the growth could help bolster its price and trigger future gains. Wallets […]
A robust market optimism has triggered a bullish run for Dogecoin as the dog-themed meme coin attracts notable price gains over many major cryptocurrency assets with an over 50% daily profit. While the coin has surged significantly over the past few days, a crypto analyst has predicted that the renewed upward strength may be poised […]
Dogecoin is on a path of remarkable growth following the renewed market upswing due to the United States Presidential election results, surpassing several strong resistance levels and crucial bullish patterns along the way that could further push the dog-themed meme coin into pivotal price areas. Dogecoin Upward Momentum Fueled By A Textbook Golden Cross Speculations […]
A Solana-based meme coin called "Act I : The AI Prophecy" (ACT) has risen by more than 1,650% after being listed on Binance and Crypto.com.
Dogecoin started a fresh surge above the $0.220 resistance against the US Dollar. DOGE is up over 50% and is showing signs of more upsides. DOGE price started a fresh rally like Bitcoin and climbed above the $0.220 resistance level. The price is trading above the $0.2800 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.280 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.3050 and $0.3120 resistance levels. Dogecoin Price Eyes More Gains Dogecoin price started a fresh surge after it reclaimed the $0.200 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.2200 and $0.250 resistance levels. The pair even surged above $0.3000. A high is formed at $0.3036 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.2013 swing low to the $0.3036 high. There is also a key bullish trend line forming with support at $0.280 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.2880 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.300 level. The next major resistance is near the $0.3050 level. A close above the $0.3050 resistance might send the price toward the $0.3120 resistance. Any more gains might send the price toward the $0.34500 level. The next major stop for the bulls might be $0.350. Are Dips Limited In DOGE? If DOGE’s price fails to climb above the $0.3050 level, it could start a downside correction. Initial support on the downside is near the $0.280 level and the trend line. The next major support is near the $0.2680 level. The main support sits at $0.2550 or the 50% Fib retracement level of the upward move from the $0.2013 swing low to the $0.3036 high. If there is a downside break below the $0.2550 support, the price could decline further. In the stated case, the price might decline toward the $0.2420 level or even $0.2350 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.280 and $0.2680. Major Resistance Levels – $0.3000 and $0.3050.
Given the growing optimism and market resiliency in the past few weeks, major crypto assets like Dogecoin have gained notable upward traction. As a result, analysts are predicting that the next price rally of the dog-themed meme coin potentially to new all-time highs could be on the horizon. Dogecoin To Replicate Past Parabolic Rise? Dogecoin’s […]
Optimism toward the popular dog-themed meme coin, Shiba Inu, is gaining traction following a recent price rebound at the beginning of the week triggered by a positive market sentiment. Despite recent price fluctuations, several analysts are confident that SHIB is still capable of a short-term rally. Shiba Inu Undergoes Key Bullish Breakout Market expert and […]
Dogecoin started a fresh surge above the $0.180 resistance against the US Dollar. DOGE could continue to rise if it clears the $0.2200 resistance. DOGE price started a fresh rally like Bitcoin and climbed above the $0.180 resistance level. The price is trading above the $0.1800 level and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.2150 and $0.2200 resistance levels. Dogecoin Price Eyes More Gains Dogecoin price started a fresh surge after it reclaimed the $0.1650 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.1800 and $0.1850 resistance levels. There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair. The pair even surged above $0.2000. A high is formed at $0.2200 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high. Dogecoin price is now trading above the $0.200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The next major resistance is near the $0.220 level. A close above the $0.220 resistance might send the price toward the $0.2320 resistance. Any more gains might send the price toward the $0.2420 level. The next major stop for the bulls might be $0.250. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.2150 level, it could start another decline. Initial support on the downside is near the $0.2080 level. The next major support is near the $0.1920 level or the 50% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high. The main support sits at $0.1780. If there is a downside break below the $0.1780 support, the price could decline further. In the stated case, the price might decline toward the $0.1650 level or even $0.1620 in the near term. 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 above the 50 level. Major Support Levels – $0.2080 and $0.1920. Major Resistance Levels – $0.2150 and $0.2200.
While the U.S. election has directed investor focus to bitcoin and Polymarket, the murky memecoin market is also beginning to heat up. Thousands of election-themed tokens have been created over the past 24 hours.
Dogecoin started a downside correction from the $0.180 zone against the US Dollar. DOGE tested $0.1420 and is currently recovering losses. DOGE price started a fresh decline from the $0.180 resistance level. The price is trading below the $0.1650 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1580 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh increase if it clears the $0.1550 and $0.1580 resistance levels. Dogecoin Price Eyes Fresh Increase Dogecoin price started a fresh decline after it failed to clear the $0.180 resistance like Bitcoin and Ethereum. DOGE declined below the $0.1720 and $0.1650 support levels. The price even declined below $0.1550 before the bulls appeared. A low was formed at $0.1422 and the price is now attempting a recovery wave. There was a move above the $0.150 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1790 high to the $0.1422 low. Dogecoin price is now trading below the $0.1550 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1550 level. The next major resistance is near the $0.1580 level. There is also a key bearish trend line forming with resistance at $0.1580 on the hourly chart of the DOGE/USD pair. A close above the $0.1580 resistance might send the price toward the $0.1600 resistance. Any more gains might send the price toward the $0.1650 level or the 61.8% Fib retracement level of the downward move from the $0.1790 high to the $0.1422 low. The next major stop for the bulls might be $0.1720. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1550 level, it could start another decline. Initial support on the downside is near the $0.1480 level. The next major support is near the $0.1420 level. The main support sits at $0.1400. If there is a downside break below the $0.1400 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.1300 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 above the 50 level. Major Support Levels – $0.1480 and $0.1420. Major Resistance Levels – $0.1550 and $0.1580.
With the renewed momentum seen across the entire cryptocurrency, Dogecoin is displaying robust resilience as the dog-themed meme coin has entered into a key chart formation, signaling a potential shift in its price trend and further solidifying its capability for a major rally in this ongoing bull cycle. Dogecoin’s Path To $0.2 Gains Strength In […]
Dogecoin is up over 20% and trading above the $0.1650 support zone against the US Dollar. DOGE must clear the $0.1780 resistance to continue higher. DOGE price started a major increase above the $0.1500 resistance level. The price is trading above the $0.1650 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1715 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rise if it clears the $0.1780 and $0.1800 resistance levels. Dogecoin Price Eyes More Gains Dogecoin price started a fresh surge above the $0.1450 and $0.150 resistance levels. DOGE price gained over 20%, beating Bitcoin and Ethereum. The bulls were able to pump the price above the $0.1650 resistance. A high was formed at $0.1796 and the price is now consolidating gains. It is holding gains above the $0.1720 level. There is also a key bullish trend line forming with support at $0.1715 on the hourly chart of the DOGE/USD pair. The trend line is well above the 23.6% Fib retracement level of the upward move from the $0.1275 swing low to the $0.1794 high. Dogecoin price is now trading above the $0.1650 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1765 level. The next major resistance is near the $0.1780 level. A close above the $0.1780 resistance might send the price toward the $0.1800 resistance. Any more gains might send the price toward the $0.1850 level. The next major stop for the bulls might be $0.2000. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.1780 level, it could start another decline. Initial support on the downside is near the $0.1715 level and the trend line. The next major support is near the $0.1675 level. The main support sits at $0.1630. If there is a downside break below the $0.1630 support, the price could decline further. In the stated case, the price might decline toward the $0.1500 level or even $0.1420 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1715 and $0.1675. Major Resistance Levels – $0.1780 and $0.1800.
Investors got excited as Dogecoin experienced a big price upsurge making it the best-performing cryptocurrency in the last 24 hours after a massive campaign rally by presidential candidate Donald Trump. Dogecoin’s price spiked following the disclosure that the Tesla CEO is being considered as the head of a proposed department. Related Reading: Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead Musk As Gov’t Efficiency Head Former US president Trump, who is eyeing a White House comeback, announced that Tesla CEO Elon Musk will hold a key position in his administration once he emerges triumphant in the upcoming US elections. Trump said that Musk would be the head of a proposed department called the Department of Governmental Efficiency or D.O.G.E. for short, an acronym that bears resemblance to Dogecoin. A similarity analysts viewed sparked the price rally. pic.twitter.com/y0UCd5NvMj — Elon Musk (@elonmusk) October 28, 2024 The Tesla CEO has been making rounds in the country to endorse Trump in his pursuit of getting a second chance at the White House. In a Trump rally in New York City over the weekend, Musk emphasized the benefits of establishing D.O.G.E. He explained that it would generate huge savings for the US government, saying that the new department could trim the annual US budget by $2 trillion. At the @realDonaldTrump / @JDVance rally at Madison Square Garden! https://t.co/gEcj39mXIp — Elon Musk (@elonmusk) October 27, 2024 Dogecoin Price Rally Mentioning the planned D.O.G.E. in a Trump campaign sortie reignited the interest in the oldest meme asset. Charts showed that the price of Dogecoin increased by nearly 15% and traded at $0.157 as the crypto becomes the biggest gainer among the top 100 digital currencies by market cap. According to CoinGecko, Dogecoin has been experiencing a price rally hitting $0.16 on Monday, the highest it has ever been since June. The subtle increase in Dogecoin over the last few weeks coincides with Musk’s continuous involvement in Trump’s quest to get re-elected as US president. After the recent shooting incident against Trump, Dogecoin prices climbed up to a level which is even higher than what it is currently experiencing in relation to D.O.G.E. DOGE price up in the last 24 hours. Source: Coingecko A Portion Of The Coins Are In Top Wallets Analysts said that Dogecoin can provide higher liquidity and abundant centralized listings, saying that the latest breakout pushed the coin’s volume to $2.5 billion. They said that top wallets hold about 21% of all Dogecoin, which is owned by individuals looking for long-term profits. At the time of writing, DOGE was trading at $0.165, up 14% and 16.3% in the daily and weekly timeframes. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks Meanwhile, market observers noticed that the Dogecoin price uptick has no impact on “dog-themed tokens”. They also noted that several wallets with substantial Dogecoin are seen to be keen on disposing of their digital assets anytime. Featured image from CCN, chart from TradingView
Dogecoin is consolidating above the $0.1320 support zone against the US Dollar. DOGE must clear the $0.1425 resistance to start another increase. DOGE price started a downside correction from the $0.1500 resistance level. The price is trading below the $0.1420 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1425 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could gain bullish momentum if it clears the $0.1425 and $0.1450 resistance levels. Dogecoin Price Eyes Upside Break Dogecoin price started a downside correction from the $0.1500 resistance zone. DOGE dipped below $0.1450 and $0.1420 levels. A low was formed at $0.1330 and the price is now recovering losses like Bitcoin and Ethereum. There was also a move above the $0.1350 and $0.1380 resistance levels. The price surpassed the 50% Fib retracement level of the downward move from the $0.1482 swing high to the $0.1330 low. However, the bears are active near the $0.1425 resistance zone. There is also a key bearish trend line forming with resistance at $0.1425 on the hourly chart of the DOGE/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $0.1482 swing high to the $0.1330 low. Dogecoin price is now trading below the $0.1420 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1425 level. The next major resistance is near the $0.1450 level. A close above the $0.1450 resistance might send the price toward the $0.1500 resistance. Any more gains might send the price toward the $0.1550 level. The next major stop for the bulls might be $0.1585. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1425 level, it could start another decline. Initial support on the downside is near the $0.1365 level. The next major support is near the $0.1350 level. The main support sits at $0.1320. If there is a downside break below the $0.1320 support, the price could decline further. In the stated case, the price might decline toward the $0.1250 level or even $0.1220 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now near the 50 level. Major Support Levels – $0.1365 and $0.1320. Major Resistance Levels – $0.1425 and $0.1450.
As communities of the crypto space increase so does the amount of ludicrosity that comes with it, as meme coins are now starting to shine and seemingly trying to change the digital currency landscape. On the spotlight today is the meme coin BONK. If the meme coin breaks $0.000041 in October, it will have already made history because it set a new milestone and secured a tough spot for itself in the market — and setting the stage for what an analyst says is the “start of the dog season.” Related Reading: ETF Hopes Propel Litecoin 12% Higher, Bullish Predictions On The Cards BONK: Recent Price Movements Signal A Shift Recently, the price activity of BONK suggests a trend reversal. After hitting bottom at $0.000001567, the coin recently started gaining traction upward and grabbed the attention not only of the retail but also of the institutional market. Of interesting note here, the last increase in price was 8.59%. Until the date of this rise, it hasn’t changed much from this percentage. $BONK – This setup is now ready, cat season is over it’s time for the dogs. pic.twitter.com/Hbr9owNcoz — Astekz (@astekz) October 16, 2024 Over the past week, BONK has surged almost 20% and traded from $0.000001917 to nearly $0.000002395. Technical Indicators suggest it forms a rising wedge and may follow through with the double bottom pattern formed on June 24 at the level of $0.000001984. An upward-pointing MACD with a bullish crossover further complements its upward momentum. Key Resistance Levels And Analyst Predictions BONK has met strong resistance at the 38.2% Fibonacci retracement, which stands at $0.000002265, ignoring the recent rally. If it cannot break through this level, the coin will proceed into a consolidation rather than upwards. The next resistance that BONK needs to break through is the 50% Fibonacci retracement standing at $0.0000025. According to estimations from the analysts, at this level, the price will advance to a high of either $0.0000035, $0.0000048, or $0.0000070. Related Reading: 100% Uptick For Shiba Inu? Experts Eye Global Reversal As Catalyst Potential Setbacks And Market Volatility However, BONK does not have an easy ride ahead. On one hand, the coin recently faced a minor 1.07% intraday drop in price accompanied by signs of price rejection, this may speak to or lead to possible short-term volatility, which can further detriment the growth of the meme coin. Another retest of the broader falling channel pattern might thus lie ahead, which could precede yet another breakout attempt. With meme coins back on the map in the crypto sphere, everything about BONK in October will be followed closely as the market waits to see if the coin continues upward, hitting new heights, or runs into new low points in the weeks to come. Featured image from WIKIWIKI, chart from TradingView
Shiba Inu (SHIB) is now priced at about $0.00001783, just below a key resistance zone which means that the market is in a good mood. Market analysts are ready to witness another possible rally in the meme coin space. Related Reading: Market Data Hints At 500x XRP Rally In Upcoming Altcoin Season Crypto influencer Davinci Jeremie noted that during the last bull cycle, Dogecoin (DOGE) reached a market cap of $88.8 billion, while SHIB peaked at $40 billion. The bull run will take the market cap of meme coins to a trillion dollars. Last cycle we saw $DOGE coin hit $88.8 billion market cap & $SHIB hit $40 billion. I think we’ll see memes as an asset class hit close to $1 trillion market cap this cycle — Davinci Jeremie (@Davincij15) October 17, 2024 Currently, the market capitalization of meme coins has surged to $58 billion, although still behind other up-and-coming crypto sectors such as AI-based tokens and real-world asset cryptos, but still a solid amount nonetheless. On the bullish side, investors would have a pretty good chance of significant profits upon its break from resistance levels into $0.000028, with the current momentum at their side, there is hope that the rest of the meme coins might also witness good performance, too. The Current Status Of Meme Coins It might have ended its global trend reversal and gone off a prior downtrend but do not count it out yet since during the late parts of September 2024, SHIB saw a huge spike as it recorded an all-time high at $0.00002135. This peak successfully broke two strong resistance levels which can only mean good for the coin and other meme coins. From the technical analysis from PS Trade, there is a high resistance point that is at $0.00002052 where around 83.75 trillion tokens are kept at this price level. $SHIB Although the price of #SHIBUSDT is still not rising very confidently on the 3-day timeframe, the global downward trend reversal structure is complete. Therefore, our target for this cryptocurrency is 100% growth. pic.twitter.com/DhOcxx3j1T — PS trade (@PStrade2) October 16, 2024 PS Trade said the global downward trend reversal structure is complete even if the price of SHIBUSDT is still not increasing very strongly on the three-day period. For this coin, he said their aim is therefore 100% increase. It was found that by the end of September, a double local top had been formed in two successive days above its high made in the middle of July. However, the strongest resistance band lies between $0.000018 and $0.000020 since 439.16 trillion tokens are dispersed across 45,620 wallets. If the bullish trend of SHIB continues, then it might test the next major hurdle at $0.000028. Related Reading: Analysts On Bitcoin: 2024 US Election Could Steer The Crypto’s Future Shiba Inu: Technical Indicators And Market Challenges Large-position institutional investors pushed SHIB back below $0.000018. As the CMF is still negative at – 0.22, this presents selling pressure from the large holders. Meanwhile, the StochRSI has revealed that SHIB was already entering into an overbought position due to its values oscillating between 71 and 57. That makes it important that the oscillators and charts begin to show signs of short-term volatility and further corrections if the selling pressure continues. However, given the strong bullish setup, a further rally is quite possible. Investors need to keep an eye on key resistance levels as well as technical indicators for further movements in SHIB. Featured image from CNBC, chart from TradingView
An expert believes that Dogecoin is on the verge of a huge price rally never seen since December 2021 as the cryptocurrency landscape showed it is ready for a breakout. Crypto analyst Ali Mаrtinеz weighed in on the coin’s technical landscape, saying Dogecoin’s price could rise to 200% in the upcoming weeks if the current pattern of indicators continues. Related Reading: Tron Token Burn: 10 Million Gone—What Does It Mean For TRX Price? Dogecoin’s Price On The Rise Martinez observed that Dogecoin was able to break out from a multi-year downward trend, noting that this usually led to an upsurge in the meme coin’s price. He noted that historically, the coin’s price rose by 200% after breakouts. History often repeats itself, and #Dogecoin might be doing just that. A familiar pattern: breakout from a multi-year descending triangle, 200% surge, 60% retracement—then a bull run. After a recent 65% pullback, $DOGE could be gearing up for the next big rally! pic.twitter.com/c93A4Fec7V — Ali (@ali_charts) October 6, 2024 He predicted that Dogecoin could potentially breach the $0.2236 mark, а level not seen since Dеcеmbеr 2021. In late September, the token experienced a breakout, leading to a 25% price surge. However, Dogecoin failed to sustain the price rally, falling off once again to $0.11. Other analysts shared the same forecast saying that if the coin successfully got ahead of the $0.1120 level, it would likely breach the $0.1315 mark easily this month. Howеvеr, analysts urged traders to be cautious with the potential price rally of Dogecoin, noting that а 60% rеtrаcеmеnt usually preceded in previous brеаkouts bеforе it gained momentum for an upwаrd trend. A Key Driver Of Growth An increase in Dogecoin’s active addresses is a primary reason why analysts are banking on a possible huge price rally for the cryptocurrency. Mаrtinеz revealed that аctivе DOGE аddrеssеs recorded its highest level in the last eight months, surging to 133,880. Active #Dogecoin addresses recently surged to 133,880—the highest level in 8 months! pic.twitter.com/DojEsDscXk — Ali (@ali_charts) October 12, 2024 This rise of active addresses indicates that people are regaining their interest in the coin, noting a recent spike of nеw usеrs. It also implies that the additional traders are helping push for the token’s growth. For example, about 110,000 investors flocked to Dogecoin, putting the token ahead of its cryptocurrency rivals Shibа Inu and Pеpе. The growth in trading volume showed that the coin is regaining its appeal to traders seeking for a quick profit. Related Reading: Uniswap: New Crypto Developments Lift UNI Price Up by 17% – Details Whale Activity Surged Experts also see whаlе аctivity as another driver in the resurgence of Dogecoin. In over a week, whales, large holders of the meme coin, have accumulated at least 2.07 billion DOGE, which is the lаrgеst sincе Jаnuаry. The amassing demonstrated traders’ growing confidеncе in the token. In past instances, huge buying usually resulted in significant pricе adjustments, serving as indicators of upcoming mаrkеt trеnds. One analyst noted that whales do not make lаrgе purchases unless they see a pricе growth in the future. Featured image from CNBC, chart from TradingView
TRON (TRX) recently garnered attention by incinerating over 10 million tokens, demonstrating its dedication to a deflationary approach intended to enhance its value. Currently, TRX is trading at roughly $0.1605, indicating a small increase. Related Reading: Uniswap: New Crypto Developments Lift UNI Price Up by 17% – Details Analysts express optimism on TRON’s future, forecasting a 57% price increase during the next three months, and an even more remarkable 208% rise over six months, figures from CoinCheckup show. This optimistic perspective indicates that TRX may be poised for a substantial upward trajectory in the cryptocurrency market. A Robust Technical Foundation The technical indicators for TRX are converging towards a positive sentiment. The price chart demonstrates a modest upward trend, while the Relative Strength Index (RSI) is presently at 57.58. This statistic indicates that TRX is approaching overbought area, however there still potential for more gains. The Stochastic indicator, currently at 66.63, reinforces this bullish perspective by demonstrating momentum without indicating imminent exhaustion. Collectively, these factors suggest that TRX may sustain its upward trend in the short future, rendering it an appealing opportunity for investors. Increasing Enthusiasm For TRON Alongside the token burn, TRON has had a decent increase in daily active addresses, indicating a growing investor interest, data from IntoTheBlock shows. Although the general trend seems constant, this minor uptick suggests that more people are entering the market. This increasing participation may enhance the token’s upward trajectory, particularly when coupled with the current deflationary strategies. As TRON endeavors to diminish its circulating supply, these elements may establish a foundation for heightened prices. Market Sentiment And Trading Conduct Despite the positive statistics, traders remain extremely cautious. The Long/Short Ratio shows shorts slightly outstrip longs with 54% shorts and 46% of longs. This is a ‘wait-and-see’ attitude by traders while awaiting a possible volatility in the price movement of TRX. Related Reading: Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst The TRX OI-Weighted Funding Rate is at approximately 0. That means that the balance of longs to shorts is neutral, and hence it may also reflect positively on market sentiment pending short-term variability for TRX’s price. Recent burning of tokens by TRON and the steady increase in active addresses can boost the momentum TRX needs to post solid growth rates for the next couple of months. Technical indicators depict a positive trend and solid price projections, which shows TRX will gain substantially in the short term. Featured image from Pixabay, chart from TradingView
Popcat (POPCAT), yet another memecoin that recently gained momentum, is making headlines as it closes in on an all-time high. In this context, whale activity is peaking for big investors buying millions of tokens. As the market buzz grows, many people are asking what the future holds for this whimsical cryptocurrency. Related Reading: Analyst Foresees 90% Cardano Price Drop in Next 6 Months Whale Activity Generates Interest Popcat has recently gained attention due to major purchases made by whales. One investor made news by purchasing 2.36 million tokens for approximately $1.75 million, at an average price of $0.68. This investor had previously liquidated their shares but chose to re-enter the market with a large purchase. Another whale has gone on a purchasing binge, collecting 5.67 million tokens worth almost $3 million in just three days. These trades have resulted in a remarkable 25% increase in Popcat’s daily trading volume, which is now $151 million. As these whales stock up on POPCAT, the token has risen 20%, reaching approximately $0.067 earlier today. Popcat is now one of the top gainers among memecoins, fueling investor optimism. Positive Outlook And Market Sentiment According to CoinCodex, Popcat’s current price projection indicates a potential 220% increase, with a rise to roughly $4.26 by November 7, 2024. Technical indications point to a bullish market attitude, but the Fear & Greed Index is at 49, indicating a neutral investor stance. Popcat has performed well on 20 of the last 30 days, resulting in a strong 67% success rate. The considerable price volatility of 23%, in conjunction with the persistent upward trend, suggests that investors are in an opportunistic trading environment. The current market atmosphere and Popcat’s exceptional past performance make it a favorable time to contemplate purchasing, according to market analysts. Navigating Volatility The future of Popcat looks good, although experts advise to tread carefully as the token is very volatile. The price movements are fast, and among the very important supports set around the levels of $0.50 and $0.40-0.45; a bounce from those levels could be an indication that the bullish momentum is still intact. Related Reading: Starknet: Long Positions Liquidated Lead To 16% Losses Many believe Popcat is well-positioned for growth despite some risks, given its leadership role in the current “Cat Season,” the colloquialism for growing popularity in cat-themed cryptocurrencies. The meme coin also has exhibited a solid 6-month result with an increase of 17% in the given timeframe. This still sounds rather optimistic when talking about Popcat, given the whale activity and positive predictions. The investor needs to be watchful of market volatility here. Therefore, entry points have to be carefully assessed and a balanced approach has to be maintained. Any investment in the cryptocurrency space, especially memecoins, like Popcat, does call for tempering enthusiasm with prudence and serious research before any commitment is made. Featured image from Vecteezy, chart from TradingView
Positive sentiment around Dogecoin, the largest meme coin has seen notable growth, with a wave of bullish predictions from several crypto experts about its potential to undergo a major price movement on the upside, possibly to new all-time highs. Impending Major Rally Set To Take Dogecoin To New All-Time Highs Amidst recent market recovery, a […]
Dogecoin is recovering losses from the $0.1020 zone against the US Dollar. DOGE is now showing positive signs and might clear the $0.1165 resistance. DOGE price started a fresh increase above the $0.1100 resistance level. The price is trading above the $0.1120 level and the 100-hourly simple moving average. There was a break above a major bearish trend line with resistance at $0.1100 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could gain bullish momentum if it clears the $0.1165 and $0.1180 resistance levels. Dogecoin Price Starts Recovery Dogecoin price declined toward the $0.100 support. DOGE traded as low as $0.1012 and recently started a fresh increase like Bitcoin and Ethereum. There was a move above the $0.1060 and $0.1080 resistance levels. The price surpassed the $0.1120 resistance level. There was a break above a major bearish trend line with resistance at $0.1100 on the hourly chart of the DOGE/USD pair. It traded above the 23.6% Fib retracement level of the downward wave from the $0.1320 swing high to the $0.1012 low. Dogecoin price is now trading above the $0.1120 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1165 level. It is close to the 50% Fib retracement level of the downward wave from the $0.1320 swing high to the $0.1012 low. The next major resistance is near the $0.1180 level. A close above the $0.1180 resistance might send the price toward the $0.1240 resistance. Any more gains might send the price toward the $0.1265 level. The next major stop for the bulls might be $0.1320. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1165 level, it could start another decline. Initial support on the downside is near the $0.1120 level. The next major support is near the $0.1100 level. The main support sits at $0.1080. If there is a downside break below the $0.1080 support, the price could decline further. In the stated case, the price might decline toward the $0.1020 level or even $0.0980 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1120 and $0.1080. Major Resistance Levels – $0.1165 and $0.1240.