doge
If This Pattern Holds Dogecoin Price Could Target $0.20; Analysts Predict
Published
2 hours agoon
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adminOn a low-volatility Sunday, the Dogecoin price jumped 1.13%, trading at $0.11. This bullish reversal can be attributed to DOGE’s significant breakout from a descending triangle pattern, signaling a major trend reversal. Will the renewed bullish momentum invalidate the mounting selling pressure from the ongoing geopolitical tensions between Israel and Iran?
Dogecoin Price Targets $0.20 If This Pattern Holds Analysts Forecast
According to the renowned analyst Ali Martinez, the Dogecoin price prediction has developed a well-known descending triangle pattern in weekly charts. Theoretically, this chart often drives a steady downtrend within a downsloping trendline and a flat support.
However, a recent breakdown from the pattern’s overhead trendline invalidates the bearish outlook and signals DOGE’s potential for renewed rally.
The cryptocurrency has shown a repetitive pattern reminiscent of past market behavior: a breakout from a multi-year descending triangle, followed by a notable 200% surge and a subsequent 60% retracement.
Following a significant 65% correction in Dogecoin price gave a decisive breakout from the triangle’s upper trendline. Maintaining this upward momentum could signal the beginning of a bullish trend for DOGE, with targets exceeding $0.20.
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
According to Intotheblock data, DOGE had recently reclaimed a substantial supply of 43.72 billion coins held across 124.48K addresses when the price breached $0.108. Now in profit, these coins can act as sustainable support and reduce the selling pressure from profitable traders.
For a detailed analysis, check out the article on Top Meme Coins.
DOGE Price Hints 10.5% Drop Before Next Leap
Amid recent market correction, the Dogecoin price shows a notable pullback from $0.132 to $0.1— a 21% loss. The ongoing geopolitical tensions between Israel and Iran have further intensified selling pressure,
With sustained selling, the DOGE price could plunge 10.5% to seek support from a new emerging support trendline at $0.1. Should this support hold, buyers may push the price above the $0.13 peak, signaling a potential trend reversal.
On the contrary, if selling plunged below the support trendline, the Dogecoin price correction to $0.08.
Frequently Asked Questions (FAQs)
Analysts predict that if the current descending triangle pattern holds, Dogecoin’s price could target $0.20
The ongoing geopolitical tensions between Israel and Iran have intensified selling pressure, contributing to a notable pullback in Dogecoin’s price from $0.132 to $0.1
The $0.10 level, supported by an ascending trendline and the lower band of the Bollinger Bands, creates a strong accumulation zone
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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 (DOGE) Forming Bullish Setup That’s Previously Triggered Massive Rallies, Says Crypto Trader
Published
3 days agoon
October 3, 2024By
adminCryptocurrency analyst and trader Ali Martinez is leaning bullish on the largest memecoin by market cap.
Martinez tells his 73,200 followers on the social media platform X that the Moving Average Convergence/Divergence (MACD), an indicator used to determine the strength and direction of a trend, is potentially forming a bullish crossover on the weekly chart of Dogecoin (DOGE).
The crypto analyst and trader says,
“The last two times Dogecoin DOGE had a MACD bullish crossover on the weekly chart, it rallied 90% and 180%, respectively.”
Martinez further says that the Dogecoin network is recording “significant growth” with the number of new addresses going up by double digits in a week.
“Over the past week, there’s been a 72% increase in new DOGE addresses, and just yesterday alone, 19,630 new DOGE addresses were created!”
Dogecoin is trading at $0.105 at time of writing.
Next up is Bitcoin (BTC). The analyst and trader says that Bitcoin may have witnessed a trend shift if the crypto king’s price action on the daily chart.
“As of today, it appears Bitcoin has made a higher low and a higher high, suggesting the trend may have shifted from bearish to bullish!”
Bitcoin is trading at $60,880 at time of writing.
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Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
Published
3 weeks agoon
September 14, 2024By
adminSep 14, 2024 19:57 UTC
| Updated:
Sep 14, 2024 at 19:57 UTC
By Clark
Ripple (XRP) has successfully averted a potential sell-off after rebounding from a key support level. On the other hand, Dogecoin (DOGE) is gradually recovering at $0.10, while Shiba Inu (SHIB) struggles with low momentum and liquidity. As investors anticipate larger market movements for Ripple (XRP), Dogecoin, and Shiba Inu, many are turning to ETFSwap (ETFS) as a strategic investment option.
Ripple (XRP) Struggles To Maintain Safe Zone Alongside Dogecoin (DOGE) and Shiba Inu (SHIB)
Earlier this week, Ripple (XRP) dipped below the crucial $0.50 level, raising investors’ concerns as some worried about a potential sell-off. To the surprise of many, Ripple (XRP) picked up pace, holding a solid position above its critical support.
According to a top analyst, this recent price increase has allowed Ripple (XRP) break out of a Falling Wedge pattern, effectively terminating a major Ripple (XRP) sell-off. Reports from CoinGecko reveal that the price of Ripple (XRP) is currently sitting at $0.536.
Meanwhile, the price of Dogecoin (DOGE) is following suit as it recovers from a week-long bearish slump below $0.10. Now trading confidently above $0.10 with a 2% gain, Dogecoin (DOGE) aims to remove the second zero in its decimal value. Supported by rising media interest and increased retail trading activity, Dogecoin may potentially break resistance levels, as it tests new support levels near $0.0859.
In contrast, Shiba Inu (SHIB), the second largest meme coin, is still stagnating, showing little price movement and trading at approximately $0.00001317. The price of Shiba Inu (SHIB) has been below key moving averages, showing a significant lack of momentum, unlike Dogecoin.
While Shiba Inu holds a reputation for leading meme coin gains this year, alongside Pepe (PEPE) and Dogecoin, some Shiba Inu investors worry about its potential this Q4. Currently, Shiba Inu is testing key support levels around $0.0000111, with its weekly chart showing a potential price reversal.
ETFSwap (ETFS) Is Leading Investors Into A New Investment Scheme With ETFs
The ETFSwap (ETFS) platform is set to revolutionize the crypto market by providing access to highly valuable Exchange Traded Funds (ETFs) backed by Real World Assets (RWAs). Trading these ETFs is made possible through the power of tokenization and blockchain technology.
With ETFSwap (ETFS) users will be able to buy and trade several ETF of different classes, including cryptocurrency, leveraged, commodity, and fixed-income ETFs. This platform has also partnered with MiCA regulated investment banks to ensure regulatory compliance.
Despite being an emerging decentralized platform, ETFSwap (ETFS) is making headlines and breaking records in its ongoing presale, promoting top analysts to project over 10,000% growth for its native token, ETFS.
Investing in the ETFS token now grants users access to early ETF listings, governance rights in the ETFSwap ecosystem, and monthly token airdrops. These tokens also help boost trading performance by enabling low transaction fees.
ETFSwap (ETFS) also allows users to engage in staking pools to earn up to 36% in passive income, while they enjoy up to 87% APR yield, and special discounts on trading costs.
To ensure standard trading security and privacy, ETFSwap’s smart contracts have been audited by the best cybersecurity and blockchain audit firm, Cyberscope. In line with this, the ETFSwap (ETFS) team has also completed a KYC verification process on SolidProof, assuring its users of a safe and transparent trading network.
Now, in its third and last presale, ETFSwap (ETFS) is seeing even more adoption as more investors are catching on to its potential for gains. In due time, ETFSwap (ETFS) will launch its own ETF, while it allows users to get more high value ETF recommendations through its advanced AI-backed ETF screeners and trackers.
Wrapping Up
With more anticipation brewing for ETFSwap (ETFS), its token, currently priced at $0.03846, could potentially surpass top coins like Ripple (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB). Thousands of investors are already taking advantage of its ongoing presale, purchasing over 500 million tokens in just a few months.
For more information about the ETFS Presale:
Clark
Head of the technology.
#Press Release
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Dogecoin Price to Hit 160-Day Barrier After Elon Musk’s Tweet: Bull Trap or Rally?
Published
4 weeks agoon
September 8, 2024By
adminDogecoin price shows a modest 0.12% surge to $0.095 during the less volatile weekend. Along with the market upswing, the DOGE price recently bounced from the $0.09 floor as Billionaire Elon Musk shared a post on X about the Department of Government Efficiency with the D.O.G.E acronym. However, the sustainability of this recovery remains uncertain as DOGE approaches a multi-month resistance.
Dogecoin Price Climbs on Trump-Musk Collaboration
Former U.S. President Donald Trump announced during his Thursday speech at the Economic Club of New York that, if re-elected, he plans to establish a government efficiency commission in collaboration with Tesla founder Elon Musk.
In agreement with this proposal, Musk has actively promoted the idea of a government efficiency commission on X (formerly known as Twitter) with a post showcasing an AI-generated image of him and the acronym D.O.G.E.
The tweet triggered a sudden pump in DOGE price to hit a $0.095 high on Friday. However, this upswing may lack sustainability as the asset trades close to the multi-month resistance trendline at $0.1.
According to Intotheblock analytics, the potential buyers could face supply pressure from nearly 16 Billion DOGE from 242.8k Addresses before the $0.1 breakout. The holders, as mentioned earlier, are currently in a loss and could sell their asset at breakeven,
DOGE Price Awaits Major Breakout
Since last month, the Dogecoin price has traded between $0.115 and $0.091 at horizontal levels. This consolidation may reflect a lack of initiation from buyers or sellers, but the broader chart analysis shows the formation of a falling wedge pattern.
The chart pattern leads to a steady downtrend within two converging trendlines before the buyers give a massive breakout. By press time, the DOGE price trades at $0.095, while the market cap boosted to $13.9 Billion.
If the bullish momentum persists, the coin price could jump 5% before challenging major resistance from the overhead trendline. If sellers continue to defend this dynamic resistacne, the Dogecoin price could revert and chase $0.08 support.
Moreover, the dog-themed coin trading below the daily EMAS (20, 50, 100, and 200) hints the path to lead resistance is down.
On the contrary, a bullish breakout from the wedge pattern will accelerate the bullish momentum and set Dogecoin price prediction to $0.11, followed by $0.144,
Frequently Asked Questions (FAQs)
The recent surge in Dogecoin price, reaching $0.095, was triggered by Elon Musk’s tweet promoting the Department of Government Efficiency (D.O.G.E.)
Dogecoin is facing a key resistance level at $0.1, with potential supply pressure from nearly 16 billion DOGE held by 242.8k addresses
Dogecoin is showing a falling wedge pattern, typically a bullish indicator
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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.
Source link
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