Dogecoin

Dogecoin Price Pumps After Elon Musk Shares D.O.G.E. Plans at Massive Trump Rally

Published

4 weeks ago

October 28, 2024

Dogecoin continues its surge—and it’s now the best performing cryptocurrency among the top 100 coins over the past 24 hours.

The original meme coin hit a peak price of nearly $0.16 on Monday afternoon, according to CoinGecko, marking a nearly five-month high after last touching that price in early June.

Down slightly from that peak, DOGE is now up almost 12% on the day at a current price of $0.157, making it the biggest gainer in the top 100 cryptocurrencies by market cap.

The gradual climb of the first dog coin comes as Tesla and SpaceX CEO and the world’s richest man Elon Musk embeds himself deeper into Donald Trump’s presidential campaign.

Musk is endorsing former U.S. President Trump in his quest for a second term, and Trump has said that Musk could have a position in government should he win next week. Trump says that Musk would run a department dubbed the Department of Governmental Efficiency (D.O.G.E.)—an acronym that happens to be the same as Dogecoin’s ticker.

Given Musk’s long association with Dogecoin (DOGE), that’s probably not a coincidence. And on Sunday, at a massive and controversial Trump rally at Madison Square Garden in New York City, Musk spoke about how D.O.G.E. would save the U.S. a lot of money. He estimated that such a department could shave $2 trillion from the annual U.S. budget.

The asset has climbed since the event, shooting even higher than it has in recent weeks when Musk’s D.O.G.E. references have apparently helped pump the coin.

Dogecoin is the ninth-biggest cryptocurrency by market cap. It runs on its own blockchain—like Bitcoin and Ethereum—and was originally created as a joke.

But it became much more serious for investors in 2020 and later during the 2021 bull run when Musk started pumping the coin on Twitter, which he has since bought and renamed X.

DOGE is now listed on many major crypto exchanges and retains a fervent base of fans and investors, but still has a long way to go before it returns to its 2021 all-time high price of $0.73.

Edited by Andrew Hayward

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Altcoins

Analyst Says Dogecoin Has Way More Room To Grow, Sees Potential Rally to New All-Time High for DOGE

Published

4 days ago

November 20, 2024

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A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) may be gearing up for an explosive surge.

Analyst Ali Martinez tells his 80,000 followers on the social media platform X that DOGE has more upside potential based on the level of public interest relative to its current price level.

He uses Google search trends to gauge the level of interest for the top memecoin by market cap.

“I read people saying Dogecoin will not go higher because of ‘market cap,’ ‘sell the news,’ ‘better memes.’ Well, when you look at the interest in DOGE over time, it isn’t even at peak popularity yet. Long story short, DOGE has way more room to grow.”

He also says that DOGE may be forming a bull flag pattern on the hourly timeframe and may soon surge past its all-time high of about $0.74. In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.

“Dogecoin appears to form a bull flag! I’m looking out for an hourly close above $0.40 which could trigger a breakout to $0.85!”

DOGE is trading for $0.3742 at time of writing, up 3.6% in the last 24 hours but down about 49% from its all-time high of $0.731.

Lastly, the analyst says that Bitcoin (BTC) may override a bearish signal from the TD Sequential indicator and hit six figures.

Traders use the TD Sequential indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles.

“Finally, I believe a sustained daily close above $91,900 will invalidate this bearish Bitcoin outlook and trigger a breakout to $100,680!”

Bitcoin is trading for $90,885 at time of writing, up 1.6% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Top Trader Unveils Path to New All-Time High for Dogecoin, Says DOGE Will Remind Everyone Who Is the King

Published

5 days ago

November 19, 2024

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A trader who continues to grow his following with timely crypto calls is outlining a potential price path for Dogecoin’s (DOGE) rally to fresh all-time highs.

Pseudonymous analyst Bluntz tells his 292,900 followers on the social media platform X that Dogecoin looks poised for a new wave of upside bursts after printing a local bottom at around $0.339.

The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge.

“Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse.

Once the next DOGE leg-up start, it will probably start to suck liquidity out of smaller memes again. The only reason they went so hard this week was because DOGE has been chilling for five days in my opinion.

I think this week will be a DOGE week.”

Bluntz practices the Elliott Wave theory, a technical analysis approach attempting to predict future price action by following crowd psychology that tends to manifest in waves. According to Elliott Wave principles, a bullish asset often witnesses a five-wave rally, where waves one, three and five are upside moves and waves two and four are corrective periods.

At time of writing, DOGE is trading at $0.372, down 49% from its all-time high of $0.731.

Zooming in, Bluntz shares his forecast for DOGE in the coming days.

“Ideal scenario for DOGE is a slow grind up over the next few days which could set the stage for another parabolic breakout later in the week similar to the last…

I think DOGE is gonna gently remind everyone who the king is this week.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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doge

Dogecoin (DOGE) Eyes $0.50 Again: Is a New Rally on the Horizon?

Published

6 days ago

November 18, 2024

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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.

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