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Dogecoin Price Forecast as DOGE Founder Vows to Never Create Another Crypto

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3 months ago

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Dogecoin (DOGE) price has recently experienced notable price fluctuations. Over the past week, the cryptocurrency has seen a significant uptick in value, raising interest across various trading platforms. Currently, the DOGE price is stabilizing around a key support level, suggesting potential resilience in the market.

Dogecoin Price Steady as Founder Denounces New Crypto

Shibetoshi Nakamoto, also known as Billy Markus, co-creator of the popular cryptocurrency Dogecoin, has once again clarified his position regarding his involvement in the crypto space. In an X post, Nakamoto reaffirmed that Dogecoin, which he co-created in 2013, remains the only cryptocurrency he has worked on.

He emphasized that he has not been involved in cryptocurrency projects since 2014, stating that Nakamoto’s post responds to rumors or claims of his affiliation with other cryptocurrency projects. 

Will DOGE Price Hit $0.2 Soon Amid Market Volatility?

The Dogecoin price is slightly increasing, indicating a marginal uptick in the market. At the time of writing, the DOGE price is trading at $0.1096, reflecting a 0.11% increase over the last 24 hours. 

The price-performance in this period shows a low of $0.1071 and a high of $0.1109, suggesting a relatively stable but minor fluctuation in value throughout the day. Most cryptos are trading in a slightly bullish trend, with BTC price hovering around the $63,000 level.

The daily technical indicators for Dogecoin show a relatively steady trading pattern. The Moving Average Convergence Divergence (MACD) indicator has recently shown signs of a bullish crossover as the signal line (orange) begins to move above the MACD line (blue). This suggests a possible increase in buying momentum in the near future.

Dogecoin Price Forecast as DOGE Founder Vows to Never Create Another CryptoDogecoin Price Forecast as DOGE Founder Vows to Never Create Another Crypto
Dogecoin Price Chart| Source: TradingView

Dogecoin price is showing signs of recovery, reaching approximately $0.11. The 30-day MVRV (Market Value to Realized Value) ratio has moved into positive territory at 6.704%. 

This indicates that the average DOGE holder is in profit. The price trend suggests some optimism in the market despite the volatility seen in recent months. Although the MVRV ratio remains positive, fluctuations in the market continue to influence overall sentiment.

Dogecoin Price Forecast as DOGE Founder Vows to Never Create Another CryptoDogecoin Price Forecast as DOGE Founder Vows to Never Create Another Crypto
Source- Santiment

A resurgence in bullish activity may propel the Dogecoin price prediction beyond the critical $0.1 level. If the price breaks through this resistance, it could pave the way for a rise toward the $0.12 mark. Further upward pressure from buyers may lead Dogecoin past $0.15, which could shift its usual trading behavior. If this momentum continues, the cryptocurrency could aim for a peak near $0.2.

Frequently Asked Questions (FAQs)

Billy Markus, also known as Shibetoshi Nakamoto, recently reiterated that he has no plans to create another cryptocurrency and remains uninvolved in any new projects.

If current bullish momentum continues and key resistance levels are broken, Dogecoin could potentially rise toward $0.2.

Dogecoin is trading near key support at $0.1, with resistance levels around $0.12 and $0.15.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogecoin Price At Risk of Further Drop As Whale Moves $59M

Published

3 days ago

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December 20, 2024

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The Dogecoin price is at risk of more decline following a recent whale movement, which indicates a potential sell-off. The foremost meme coin is already down over 18% in the last 24 hours amid this recent crypto market crash.

Dogecoin Price Could Drop Lower As Whale Moves $59 Million

The Dogecoin price is at risk of further drop as a whale recently moved $59 million. Whale Alert data shows this investor moved 200 million DOGE to the Binance exchange.

Such Whale movement always sparks a bearish outlook for a crypto’s price, as it suggests the investor in question is looking to offload their coins. Such sale could put significant selling pressure of the top meme coin, leading to more price declines.

As CoinGape reported, the DOGE price has plummeted and is at risk of dropping to as low as $0.20, which marks a crucial support level for the meme coin.

In an X post, crypto analyst Kevin Capital suggested that a Dogecoin price drop to this level would be worrisome. He stated that he would start to worry of DOGE loses $0.26 on a weekly close. However, for now, he believes that this price decline is a normal market pullback.

The analyst also noted that the correction had been brewing in the charts for weeks. However, he suggested that this price decline is worse than expected thanks to the Fed’s hawkish stance and an imminent US government shutdown.

What Next For DOGE?

The Dogecoin price is still expected to witness a bullish reversal at some point, as analysts predict that the bull run is far from over. Crypto analyst Master Kenobi suggested that this bullish reversal could happen in January 2025.

This came as the analyst alluded to the 2021 bull run when a similar crypto market crash occurred in December 2020. The analyst noted that the Bitcoin price suffered a 30% loss while DOGE also followed suit, dropping by 55%.

BTC vs DOGEBTC vs DOGE

However, amid the panic, these coins witnessed a bullish reversal in January 2021 as they surged to new highs. This eventually paved the way for the Dogecoin price its current ATH of $0.73 in May 2021.

As such, if history repeats itself, Dogecoin could recover to new highs by January. Kevin had before now also predicted that the top meme coin could pull back to between $0.26 and $0.28 and then reload and come back to break its current ATH.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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​​Dogecoin Price Rally Could Exceed 30,000%: Expert Analyst

Published

1 week ago

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December 14, 2024

By


As the Christmas season approaches, the Dogecoin price, a major meme-based cryptocurrency, has experienced a remarkable resurgence. the DOGE has seen a significant price spike, reflecting broader bullish market trends. Bitcoin’s price, now hovering above $100k has further boosted optimism. Analysts hint that Dogecoin’s rally could exceed 30,000%, adding excitement to the market recovery.

Analyst Hints Next Dogecoin Price Rally Will be “Bigger Than” 2021’s 30,000% Gain

A crypto analyst shared an X post describing the possibility of an imminent DOGE price rally. The analysis suggests that this potential rally could surpass the massive gains seen in 2021, where DOGE skyrocketed by over 30,000%.

The expert demonstrates Dogecoin’s long-term price movements, showcasing a repeated trend of bullish breakouts following consolidation phases. In 2021, a similar breakout pattern resulted in a notable price surge. Currently, Dogecoin price appears to be approaching a comparable structure, with a sharp upward trajectory possibly ahead. If history repeats itself, the upcoming rally could yield returns even greater than its historic 2021 run, making it a crucial moment for DOGE enthusiasts and traders.

Source: X

The Dogecoin price reached an all-time high of $0.7376 on May 8, 2021, during a bullish market rally. The value of DOGE is currently trading at $0.4075, reflecting a 1% gain in the past 24 hours. Over the past month, Dogecoin has shown significant upward momentum, boasting a 320% surge over the last year.

Retail Accumulate Dogecoins While Retail Sell

The retail sector has steadily increased its Dogecoin holdings over the past month. As of November 6, retail investors held approximately 1.92 billion DOGE. By December 14, this figure had risen to 1.96 billion DOGE, marking an accumulation of 40 million DOGE within a span of just over five weeks.

While retail investors are growing their holdings, whale investors appear to be taking profits. On November 6, whales held 9.31 billion DOGE. However, by December 14, this figure had declined to 9.02 billion DOGE, reflecting a reduction of 290 million DOGE over the same period. 

Source- Santiment

DOGE Technical Analysis: Exploring Dogecoin’s Short-term Outlook

Dogecoin price is hovering around $0.40 as market activity shows bullish momentum signals. The Moving Average Convergence Divergence (MACD) indicator reflects waning bullish momentum. While the MACD line remains above the signal line, the convergence hints at potential price consolidation. The Awesome Oscillator (AO) highlights diminishing bullish strength, with a noticeable decrease in the green histogram bars. 

If bullish forces prevail, the meme coin could surpass its $0.50 resistance level and eventually reach $0.60. In an optimistic scenario, the Dogecoin price forecast could challenge its all-time high (ATH) at $0.73. Extended bullish sentiment could also drive the price towards the psychological $1 mark. However, if bearish trends dominate, the price might decline towards the $0.40 support level or even lower.

​​Dogecoin Price: Analyst Hints DOGE's Upcoming Rally Could Exceed 30,000%​​Dogecoin Price: Analyst Hints DOGE's Upcoming Rally Could Exceed 30,000%
​​Dogecoin Price Chart: TradingView

Dogecoin’s potential for a rally surpassing 30,000% ignites excitement among traders. Historical patterns and bullish sentiment point to significant price action ahead, making this a pivotal moment for DOGE enthusiasts.

Frequently Asked Questions (FAQs)

Dogecoin reached an all-time high of $0.7376 on May 8, 2021.

Analysts suggest DOGE could surpass its ATH if bullish trends continue.

The prediction is based on historical breakout patterns and long-term price movement analysis.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Doge price

Dogecoin Price Eyes $1 Boom, Mirroring Iconic 2021 Bull Run

Published

2 weeks ago

on

December 9, 2024

By


Dogecoin price, a leading meme-based altcoin, has surged recently, riding the ongoing crypto bull market wave. The digital asset defied broader trends with BTC hovering above $100k, steadily climbing and drawing attention for its impressive rally desspite slight market corrections. Analysts suggest Dogecoin’s upward momentum could mirror its 2021 performance, eyeing an ambitious $1 milestone if bullish mounts pressure.

Dogecoin Price Eyes $1 Breakout, Mirroring Historic 2021 Bull Frenzy

The crypto expert recently highlighted Dogecoin’s potential for a significant price surge, likening its current pattern to the 2021 bull run. The analyst identified the emergence of a “first breakout candle” as a key indicator of explosive growth. The same pattern has reappeared, sparking speculation that Dogecoin could surpass its previous $1 target and reach new heights in this cycle.

Notably, the analyst dismissed the $1 price target as outdated, referencing manipulation allegations during the 2021 rally that hindered progress. Instead, the expert predicts Dogecoin price could achieve levels between $4.20 and $6.90 this cycle, driven by renewed market momentum. This optimistic outlook underscores Dogecoin’s potential to repeat history with an even greater rally. 

Dogecoin Price Eyes $1 Boom, Mirroring Iconic 2021 Bull Run
Source: Tweet

Crypto analysts has highlighted a significant bullish pattern for Dogecoin, indicating potential upward momentum. According to their technical analysis, a bullish pennant formation has emerged on the 6-hour timeframe, signaling a possible breakout.

The analyst predicts that Dogecoin could experience a 30% to 40% price surge as this pattern unfolds. Bullish pennants often suggest a continuation of an upward trend following a brief period of consolidation.

Source: Tweet

The upcoming Congressional address on U.S. economic policy and Elon Musk’s influence intrigue Dogecoin’s outlook. Meanwhile, the rise of meme coins like PEPE and SHIB could bolster DOGE’s momentum, hitting $1 soon

Dogecoin Technical Analysis: DOGE Poised for Major Bullish Breakout

The DOGE price has surged by 20% in the past week. At the time of writing, the meme coin is trading at $0.45, with a 5% surge indicating a bullish trend.

The Dogecoin price forecast is gaining traction, hovering above $0.45, sparking optimism for another rally. If bullish sentiment continues, a potential surge to $0.73, matching its previous all-time high.a breakthrough above $1, similar to its 2021 performance, may be possible. However, bearish pressure could trigger a correction to $0.40 or even $0.35.

The Moving Average Convergence Divergence (MACD) indicates bullish momentum on the 4-hour chart. The MACD line is currently hovering above the signal line. The increasing histogram bars indicate growing buying interest.

DOGE price chart by TradingView

Dogecoin’s recent momentum showcases its potential to surpass historic highs, fueled by bullish patterns and growing market optimism. With continued support, the meme coin could achieve remarkable price milestones.

Frequently Asked Questions (FAQs)

Similar bullish patterns hint at a repeat or surpassing of 2021 highs.

Elon Musk’s influence adds bullish sentiment and intrigue to DOGE’s momentum.

Analysts predict DOGE could surpass $1, aiming for $4.20-$6.90.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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