Dogecoin’s next move: Analyst predicts a possible 66% hike
Release: 2024/07/22 19:19 Reading: 532
- Original author：AMBCrypto
- Original source：https://ambcrypto.com/?p=408459
DOGE Price Surge Nears Resistance; Bullish Breakout Imminent?
Dogecoin's [DOGE] recent rally has been impressive, with its price increasing by over 15% in the past seven days. Even in the last 24 hours, the world's largest memecoin has gained over 4%. At the time of writing, DOGE traded at $0.1312, boasting a market capitalization of over $19 billion.
Despite a negative weighted sentiment, indicating market bearishness, DOGE's social volume has surged, reflecting increased popularity. Notably, a popular crypto analyst, World Of Charts, has highlighted a bullish falling wedge pattern on DOGE's chart. Since March, DOGE's price has consolidated within this pattern and is approaching its resistance level. A breakout could trigger another bull rally, potentially leading to a 66% price increase.
However, Coinglass' data suggests some bearish metrics. A decline in DOGE's long/short ratio indicates more short positions than long positions, suggesting bearish sentiment. Additionally, its funding rate has risen sharply, increasing the likelihood of a bearish correction that could hinder a breakout.
On the other hand, DOGE's MVRV ratio has increased, which is a bullish signal. Furthermore, technical indicators like the MACD, MFI, and CMF indicate a bullish advantage and potential for continued price appreciation.
Overall, while some metrics point to bearish tendencies, the overall outlook for DOGE remains bullish, especially considering the approaching resistance level breakout.
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com