Dogecoin Open interest Remains Muted Below $500 Million, Whats Going On?

With the market recovery, open interest in major assets has been rising, but it seems Dogecoin is not following this trend. The meme coin has remained muted with a failure to move like other large caps such as Bitcoin and Solana. Naturally, the direction of open interest can have an impact on the performance of Dogecoins price. So, what could this muted open interest mean for the meme coins price going forward? Dogecoin Open Interest Fails To Move According to data from the Coinglass website, the Dogecoin open interest has failed to surpass the $500 million level once again. On Thursday, the Dogecoin open interest was $493.97 million, which is a long way from its all-time high. This comes even as the meme coins open interest surged 6.9% in the 24-hour period, with notable jumps across crypto exchange such as OKX and Bitget. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 Despite this increase, the Dogecoin open interest is still firmly below its August highs. The open interest started out in August above $618 million. However, since then, it has remained muted, suggesting that crypto traders have turned their attention elsewhere. Even more concerning is the fact that the open interest is more than 70% below its all-time high from March 2024. On March 29, 2024, the Dogecoin open interest had reached a new peak of $2.21 billion. But since then, the open interest has been seeing a steady decline. At Thursdays figures of $498 million, the DOGE open interest is now seeing a 77% decline from its Marchs figures. Why This Decline Could Be Good For DOGE The open interest gives the total of the open options or futures contracts in the market for a particular digital asset. Basically, it helps investors to tell if traders are betting heavily on the recovery or decline of a cryptocurrency or not. Related Reading: XRP Price Prediction: Crypto Pundit Predicts Historical 9,468% Pump To $27 Given Dogecoins data, it shows that traders are not exactly focused on the meme coin as they used to be. However, this is not always a bad thing, as periods of low open interest have often marked market bottoms. The low open interest usually gives investors a good time to enter into the coin, as the price often declines with the open interest. As the Bitcoin price recovers, it is expected that the Dogecoin price will follow, and when the open interest begins to recover, the DOGE price is expected to grow rapidly with it. A similar scenario was witnessed back in January 2024, with the open interest marking a bottom somewhere around $300 million. However, over the next few months, the open interest rose more than 630%, triggering an over 100% price surge for Dogecoin. If the same scenario plays out here, then the DOGE price could double once more. This would put the price firmly above the $0.2 level, especially with a bull run expected in the last quarter of the year. Featured image created with Dall.E, chart from Tradingview.com

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Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed

Dogecoin is at a crucial price level following a market surge driven by the Federal Reserves announcement of a 50 basis point interest rate cut. The meme coin is on the verge of breaking a resistance that could ignite a rally to new highs. Analysts and investors are making bold predictions, with one analyst forecasting a “conservative” 1,000% surge if the price gains momentum. Related Reading: Dogecoin Breaking Out Of Monthly Downtrend: Can DOGE Reach $12? DOGE has consistently traded above strong demand levels and targets local highs to break its current price structure. A change in this structure could result in a significant rally, lifting the entire meme coin market to new heights. With market sentiment increasingly bullish, the coming days will determine whether Dogecoin will capitalize on this opportunity. Dogecoin Analyst Expects $3 This Cycle The cryptocurrency market is experiencing a surge after weeks of selling pressure and uncertainty. This has raised optimism among investors waiting for a potential bull run that could begin in the next few weeks.  Dogecoin is trading at a critical level that could spark a rally to new highs. Notably, a well-known Dogecoin analyst, Kevin, has shared a bold prediction on X, presenting three possible scenarios based on how this market cycle plays out. Kevins technical analysis shows that Dogecoin is on the verge of breaking out of a falling wedge pattern, a classic bullish formation often associated with significant price gains. According to his analysis, DOGE is just a few green weeks away from achieving its first golden crossa key bullish signalin over four years.  Kevin offers three potential price targets depending on market performance: $0.93 if Dogecoin performs well, $2.27 if it experiences substantial outperformance, and $3.80 in an “astronomical” performance scenario. He notes that these outcomes largely depend on how the broader economic liquidity cycle evolves. Despite the excitement surrounding this prediction, Dogecoin faces potential risks. If the price action fails to keep pace with the crypto market, traders and investors could end up empty-handed.  Related Reading: XRP The Safest Investment To Make 100% ROI Former Asset Manager Shares Price Targets The coming weeks will determine whether Dogecoin can break out and target these ambitious price levels. With the broader market showing signs of recovery, all eyes are on DOGE to see if it can capitalize on the momentum and reach new heights. DOGE Holding Strong Above $0.10 Dogecoin is trading at $0.104 after a volatile Wednesday, during which the price surged 5% in less than 24 hours. DOGE is approaching key supply levels around $0.115 after successfully reclaiming the 4-hour 200 exponential moving average (EMA) at $0.102 and the 4-hour moving average (MA) at $0.101. This price action suggests short-term strength, sparking optimism among bulls eager to push the price to higher liquidity levels. However, there are risks if DOGE fails to maintain this momentum. If the price struggles to close above $0.108 in the coming days, it could lose its bullish support from these indicators, leading to a deeper correction. In that case, DOGE could potentially target lower prices around $0.097, and losing the 4-hour EMA and MA would indicate weakening momentum. Related Reading: Solana (SOL) Could Crash 40% If It Stays Below $140 Top Analyst Shares Insights Historically, meme coins tend to rise aggressively when they gain momentum. Any price movement in the coming days could trigger significant volatility. Featured image from Dall-E, chart from TradingView

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Dogecoin Forming First Golden Cross In 4 Years, Is A 3700% Rally To $3.8 Possible?

Dogecoin could be gearing up for another major surge in price as the meme coins chart shows the formation of a major pattern. The Golden Cross pattern is a major bullish formation on a chart that usually precedes a notable rally for digital assets such as DOGE. Currently, the Dogecoin price is forming its first golden cross in four years, making this an important development for the meme coins price. Dogecoin Analyst Points out Golden Cross Dogecoin analyst Kevin Capital on X (formerly Twitter) has highlighted an important formation on the Dogecoin chart. According to the crypto analyst, the movement of the DOGE price over the last few months has been pushing it toward the formation of a Golden Cross. Related Reading: Crypto Analyst Says Bitcoin All-Time High Only A Month Away After Breaking $60,000 Now, a Golden Cross pattern is usually formed when a short-term moving average such as the 50-day moving average and a long-term moving average such as the 200-day moving average crosses. It usually happens that the short-term moving average crosses the long-term moving average from below. Presently, the short-term MA and the long-term MA are yet to cross, but the Golden Cross formation looks to be in the works. In the post, Kevin explains that the Golden Cross formation may happen in the next few weeks. Once this happens, it could signal the start of a bullish recovery, and according to Kevin, it would be the first Golden Cross in four years. DOGE Price Could Touch $3.8 The completion of the Golden Cross pattern could be the catalyst that sets the Dogecoin price on a path to a new all-time high. The first target for the Dogecoin price with this formation is $0.93. This would be an almost 1,000% increase from the current level, just around $0.1. Related Reading: Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4 It doesnt end there, however, as the crypto analyst believes that there is a possibility that the Dogecoin price will go higher than this. In what he calls a Huge out performance, he says that the DOGE price could cross $2.2 if this happens. This would be an over 2,000% increase. The third and final target for the Dogecoin price with the Golden Cross formation is $3.8. The analyst explains, though, that it would take an astronomical performance for this to happen. Nevertheless, this would mean an over 3,700% increase from here. However, the crypto analyst explains that the Dogecoin price reaching these levels depends on how this economic liquidity cycle pans out. The current Dogecoin all-time high is $0.73, which means an 800% increase from here will solidify a new high. Featured image created with Dall.E, chart from Tradingview.com

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Heres What Dogecoin Whales Are Doing Following The Recovery Above $0.1

The Dogecoin price recover came as a welcome sight to investors after the meme coin struggled around $0.09 for a while. Naturally, the move in the price has prompted movement among Dogecoin investors and the whales are not left out of this. As the price rebounds, these whales have increased their activity, moving billions of DOGE to and from their wallets. However, the net flow of these whale wallets paint a bearish story for the DOGE price. Dogecoin Whales Move Over $500 Million The large whale transactions tracked by the IntoTheBlock platform are transactions carrying $100,000 or more. These large transactions, although seeing a drawdown from the previous weeks figures, have maintained a reasonably high level. Over the last two days, the average number of whale transactions have come out to 800, showing that interest from the whales remain high. Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 While the whale transaction numbers actually saw a decrease between Sunday and Monday, going from 899 transactions to 818 transactions, the number of DOGE moved tell a different story. IntoTheBlocks data shows that 5.19 billion DOGE were moved on Monday compared to 4.59 billion DOGE on Sunday. In dollar terms, this translates to $522.89 million compared to $499.99 million. Nevertheless, these numbers show an average of $500 million being moved by these whales everyday. As the Dogecoin price continues to recover, the whale transactions could balloon from here as investors move to secure their positions. Where Are The Coins Headed? The net flow data for the large whale wallets can tell us where the whales are moving their DOGE coins. This data tracks the inflow and outflows from the Dogecoin whale wallets, meaning how much is entering the wallets and how many coins are leaving. As a result, it can show if these whales are buying or selling at this time. According to the IntoTheBlock data, the inflows into the wallets have declined, while the outflows from these large wallets have risen over the last few days. Inflows dropped from 37.4 million DOGE on Sunday to only 115.11 million DOGE on Monday. This shows that the Dogecoin whales have not been buying as much DOGE during this time. Related Reading: Analyst Identifies $0.75 As Most Crucial Target For XRP Price In The Campaign For $1 In the same vein, outflows also surged from 18.37 million DOGE on Sunday to 107.71 million DOGE on Monday. This outflow trend suggests that Dogecoin whales are selling rather than buying. It explains the selling pressure on the coin over the last few days, making it hard to reclaim $0.1. However, net flow data, which shows the average of inflows and outflows, has remained almost flat. Nevertheless, the majority of Dogecoin holders look to be in it for the long term as 3.93 million addresses have held their DOGE coins for more than one year. 2.2 million addresses have been holding for between 1 and 12 months. This leaves only 113,660 addresses that have been holding for less than one month. Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin At $0.1 Is A Gift, Falling Wedge Breaking Bullish To Send Price To $0.2

Dogecoin (DOGE) is currently trading at $0.102, but the popular meme-based cryptocurrency appears to be positioning itself for a potential move to the upside. Over the past five months, Dogecoin has largely traded in a downtrend with the formation of lower highs and lower lows. This consistent downward pressure has led to the development of a classic price pattern known as a falling wedge. According to a technical analyst who has been closely tracking Dogecoins movements, the daily chart suggests that the falling wedge is nearing its conclusion, and a bullish breakout is now in sight. If Dogecoin successfully breaks out of this wedge, the analyst projects a price target of $0.20. Dogecoin Falling Wedge Breaking Bullish A falling wedge is a narrowing price channel that typically signals a reversal from bearish to bullish momentum. The key feature of this pattern is that it shows a gradual reduction in the downward price movement as buyers start to step in, causing price consolidation. In the case of Dogecoin, this pattern was highlighted by a technical analyst known pseudonymously as Crypto Yapper on social media platform X.  Related Reading: Analyst Sounds Warning For Bullish Investors, Says Solana Will Crash 42% To $80 According to the DOGE/USDT chart on the 1D candlestick, DOGE has largely been on a downtrend since it peaked at its yearly high of $0.22 in March. At one point, DOGE fell by 63% from $0.22 to a low of $0.08 on August 5. Following this low point in early August, Dogecoin has managed to stage a modest recovery, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern. $DOGE almost Breaking Out ! This Falling Wedge on the #DOGE daily chart is close to breaking Bullish The break out target for #Dogecoin will be $0.20 pic.twitter.com/MoAQe1Xo6r Crypto Yapper (@CryptoYapper) September 14, 2024 Since bouncing off $0.088 on September 6, DOGE has traveled upwards to retest the upper trendline of the falling wedge at around $0.108. As noted by Crypto Yapper, a successful break to the upside would see DOGE doubling its current value and reaching $0.20. While this price target might seem modest at first glance, especially considering that Dogecoin had already surpassed $0.20 earlier in the year, it represents the cryptocurrencys recovery from its prolonged downtrend. This, in turn, could lead to a total change into bullish sentiment, with DOGE eventually breaking above $0.22. Related Reading: Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December Echoing the falling wedge pattern analysis is another DOGE trader (CryptoHotep). According to him, DOGE at $0.10 is a gift. His post featured a similar DOGE/USD price chart featuring the falling wedge pattern from $0.22, albeit with the upper trendline only. This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn’t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.  Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin Breaking Out Of Monthly Downtrend: Can DOGE Reach $12?

Dogecoin (DOGE) is holding strong above a key price level after a small market dip on Sunday, putting it at a crucial turning point. The meme coin recently broke out of a monthly downtrend that has kept its price suppressed since late March, signaling a potential shift in momentum.  Related Reading: Analyst Predicts AVAX Breakout: Is $30 The Next Target? Analysts and investors are growing increasingly optimistic about DOGEs latest price action, with some predicting that if Dogecoin breaks above the $0.12 mark, it could trigger a larger rally in the meme coin space.  However, the next few days will be critical in determining whether DOGE can lead this rally or if it will need a period of consolidation before pushing higher. As the broader crypto market looks for direction, all eyes are on Dogecoin to see if it can capitalize on this positive momentum and set the stage for further gains. Dogecoin Holding Strong Above $0.10  Dogecoin (DOGE) has been between $0.092 and $0.115 since early August, forming a consolidation pattern many analysts believe signals accumulation by smart money. This consolidation suggests that significant players may be preparing for a potential breakout. Some analysts are particularly optimistic, stating that DOGE is breaking out of a monthly downtrend channel that began in late March when Dogecoin was trading at $0.22. One top analyst and investor, Daan, shared a technical analysis on X showing DOGE breaking through this downtrend line, which presents a new opportunity for meme coin investors. Daan emphasizes that if DOGE holds above the critical $0.105 support and can break above the $0.12 level with conviction, the meme coin could aggressively surge to higher prices. According to Daan, once Dogecoin confirms an uptrend, its price skyrockets rapidly, leaving no room for hesitation. Historically, when DOGE enters such phases, it experiences sharp upward movements accompanied by high volatility. Related Reading: Solana (SOL) Faces Serious Risk After Failing To Close Above Key Level Details This potential move has drawn attention to Dogecoin, as investors and traders alike are eager to see if it will continue to dominate the meme coin sector. The next few days and weeks will be critical in determining whether DOGE can sustain its momentum and break through these key resistance levels. DOGE Price Analysis Dogecoin (DOGE) is trading at $0.101 after experiencing a 7% dip since Friday. Before this decline, DOGE surged over 22% from local lows on September 6, marking a strong recovery in a short period. Last Friday, the price broke above the 4-hour 200 exponential moving average (EMA) at around $0.103, often seen as a signal of short-term strength. However, despite this move, DOGE has struggled to maintain its position above the 4H 200 EMA, and recent price action has hovered just below this key level. For DOGE to regain bullish momentum, it is essential for the price to reclaim the 4H 200 EMA and hold above it. This would provide short-term support and potentially pave the way for targeting higher prices. On the other hand, if DOGE fails to close above this EMA, a deeper correction is likely, with the next major support level expected around $0.097. Related Reading: Cardano (ADA) Whales Securing Gains After 10% Upswing: Whats Next? As the market remains uncertain, the coming days will be critical for DOGE’s price direction. Investors are closely watching whether it can break back above key technical levels or face further downside pressure. Featured image from Dall-E, chart from TradingView

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DOGE Breaks Above $0.1055 Barrier; Will Bulls Push Toward $0.1200?

Dogecoin, the meme-inspired cryptocurrency, has recently surged past the $0.1055 resistance level, marking a significant development for traders…

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DOGE Hits Resistance at $0.1055; Bears Target $0.0890

The dog-themed meme coin Dogecoin (DOGE) has witnessed solid resistance around the $0.1055 level, with the bears eyeing…

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Dogecoin Price Could Soar 900%: Analyst Predicts What Needs To Happen

Since reaching its yearly high of $0.2288 on March 28, the Dogecoin price has plummeted by over 54%. From its all-time high in May 2021, the DOGE price has declined by more than 85%. Despite this downturn, crypto analyst Cryptorphic (@Cryptorphic1) suggests that a bullish reversal may be on the horizon. Cryptorphic has conducted an in-depth analysis of the weekly DOGE/USDT chart, positing that Dogecoin could experience a substantial 900% surge in price. This optimistic forecast is underpinned by a combination of seven factors, ranging from technical indicators to broader market trends. What Needs To Happen For Dogecoin To Skyrocket By 900%? The chart shared by the analyst shows Dogecoin’s performance since February 2021, which is capped in a tightly bound channel. This channel was defined by consistent lower highs and higher lows forming a predictable pattern for over 1,127 days, until a notable change occurred. Based on this, Cryptorphic reveals seven arguments for being ultra bullish on DOGE. #1 Breakout Above Accumulation Channel In the last week of February 2024, DOGE experienced a breakout characterized by a massive candle that propelled it beyond the upper limits of this long-term channel. Following this breakout, Dogecoin entered a phase of retesting the upper boundary of the previous channel, a crucial phase for confirming the strength and potential longevity of the breakout. Related Reading: Dogecoin Price Looking Stronger Expect Massive Gains, Analyst Predicts The breakout is quite significant for occurring after over three years of price consolidation within a defined range. Such a long period of accumulation often sets the stage for massive price move once breached. A successful retest typically confirms the breakouts validity and could signal a continuation of the upward trend. #2 Strong Weekly Doji Candle Another key aspect of what needs to happen is printing a strong weekly Doji, signaling significant buying pressure from the bulls. Such a candlestick on the weekly chart would be characterized by a small body with a long lower shadow, suggesting a victory for the bulls in a tug-of-war between buyers and sellers. #3 The Musk-Effect The mention of Dogecoin by Elon Musk, who may be promoting DOGE as a means of payment on X after the presidential election, could increase speculative sentiment. Musk’s tweets have had an extremely strong influence on the DOGE price in the past, but things have gone very quiet in recent months. Elon Musk is likely to shill it after the presidential election this year, the crypto analyst speculates. #4 Moving Averages From a technical standpoint, Dogecoins current position above the 200-day Exponential Moving Average (EMA) suggests a strong bullish sentiment in the long-term perspective. Conversely, its struggle to maintain above the 100-day EMA indicates immediate challenges. Thus, a decisive close above the 100-day EMA could be another major sign for a DOGE bull run. Related Reading: Dogecoin Bounces Off Key Support Following Crash Below $0.1 #5 Relative Strength Index The Relative Strength Index (RSI), currently below 45, supports the theory that there is plenty of room to grow without pushing the asset into the overbought territory. This is critical as it suggests that despite recent gains, the asset is not yet at risk of a major sell-off due to overvaluation, according to this metric. #6 Market Trends The analysis also highlights the current trend where memecoins are outperforming more fundamentally solid projects, indicating a market preference that could favor DOGE in a bullish cycle. This needs to continue. MEME coins have been outperforming solid projects this season, and I believe DOGE will lead the charge in this bull run, the analyst states. #7 Weekly Close Above $0.11 Overall, the analyst claims that Multiple indicators are suggesting a bullish move is on the horizon. He plans to maintain a position in Dogecoin, with an intention to buy on dipsa strategy that leverages potential volatility for accumulation at lower prices. The identified trigger point for a bullish acceleration is a weekly close above $0.11 in the grey liquidity area. A close above this threshold could catalyze the anticipated rally. At press time, DOGE traded at $0.10432. Featured image created with DALL.E, chart from TradingView.com

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Dogecoin Bounces Off Key Support Following Crash Below $0.1

Dogecoin (DOGE) was one of the tokens significantly affected by the recent crypto market crash. With the crypto market recovering, the meme coin is showing signs of life and is looking to reclaim the psychological support level of $0.1, having bounced off key support.  Dogecoin Bounces Off Key Support With $0.1 In Sight Crypto analyst [...]

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Dogecoin whale inflow surge by 118% as Poodlana gains 148% in a month

Dogecoin (DOGE) net flow into whale wallets has surged by 118%, signalling bullish momentum. Poodlana’s price has jumped 148.75% in 30 days, fueled by strategic market moves. Both coins show strong growth potential, with DOGE and POODL gaining investor interest. In a dynamic week for meme coins, Dogecoin (DOGE) and Poodlana (POODL) have captured significant […]

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Dogecoin On Track To Rally 100% To $0.2; Crypto Analyst

Dogecoin has certainly dipped quite far from its highest point so far this year. While this sideways movement and a recent correction have lingered on for quite some time, the price action is a reflection of the wider crypto market movement. However, DOGE continues to attract bullish opinions among traders. Its popularity and status as the largest meme coin continue to generate optimistic sentiment within the trading community. Crypto analyst Astronomer believes DOGE is still prime for a strong bull run on the technical side of things. According to Astronomer, the current price structure of DOGE demonstrates a relative strength that sets it apart from other cryptocurrencies price action since Q4 2023, suggesting that the coin has the potential to recover and even thrive in the near future.  DOGE On Track To Rally Above $0.2 Astronomer’s DOGE technical analysis, which he shared on social media platform X, is based on the cryptocurrency’s price action since the fourth quarter of 2023. The crypto market kickstarted its recent market cycle in Q4 2023 after the applications of Spot Bitcoin ETFs by BlackRock and others. Related Reading: Bitcoin Flashes Inverted Triangle, Analyst Peter Brandt Explains What This Means This event marked the end of a multi-year bearish cycle, leading to bullish sentiment across the entire crypto market. As a result, many cryptocurrencies experienced substantial price increases, which pushed them to reach new multi-year highs. Although many market participants might argue the market is still largely in a bullish cycle, many cryptocurrencies have corrected even below Q4 2023 prices. However, Astronomer notes that DOGE stands out in this regard, as it has managed to maintain a price level above its Q3 2024 value. At the time of writing, DOGE is trading at $0.1057. Although the meme coin is still up by 29% from its price in the beginning of the year, it has corrected 52% from its yearly high of $0.22. Additionally, DOGE has corrected by 12% from its Q3 2024 opening price of $0.121; a pivotal price point. According to crypto analyst Astronomer, all the cryptocurrency needs now is to break above a new local high to solidify the return of a bullish price run. Price Targets For Dogecoin In terms of a price target, the Dogecoin/Tether US price chart shared by the analyst predicts DOGE will double its current value and climb back above the $0.22 price point later this year. The analyst’s projections are even more bullish, suggesting that DOGE could surpass $0.26, which would represent a remarkable 145% increase from its current trading price. Related Reading: Analyst Says XRP Price Will Rally 10,400% To $60, Heres When However, the recent DOGE price action suggests various resistances before $0.22. Nonetheless, the analyst remains confident that once DOGE successfully breaks through this local high, it could trigger a renewed and sustained upward movement, further fueling the bullish sentiment surrounding the coin. Featured image created with Dall.E, chart from Tradingview.com

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Analyst Says Dogecoin Price Will Surge 2,500% To $2.55, Heres When

Following its price surge in 2021, Dogecoin has become one of the most sought-after cryptocurrencies, with many expecting a repeat of this performance. Since then, the Dogecoin price has failed to surge, leaving investors wanting more. However, this period of poor performance may be drawing to a close as a crypto analyst expects a significant [...]

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Crypto Analyst Says Dogecoin Price Will Rise Over 7,200% To Reach $10, Heres Why

The Dogecoin price reaching double-digits remains a dream for its die-hard community, despite the meme coin failing to claim $1 even till now. Nevertheless, expectations that Dogecoin will eventually cross $10 remain high as one analyst has given reasons why the largest meme coin by market cap is set to surge by more than 7,200%. Dogecoin To Stage A Log Breakout Crypto analyst Javon Marks took to X (formerly Twitter) to share an interesting development on the Dogecoin chart. Marks points out that a Log Breakout could be on the horizon for the meme coin, which could lead to a massive surge in price. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens The reason for the analysts optimism toward the Log Breakout are what transpired for Dogecoin the previous two times that it has appeared. The first time this Log Breakout was completed for DOGE was back in the 2017-2018 bull market. This resulted in a 9,472% price increase, taking Dogecoin from a low of $0.0002 to a high of $0.01858. Then again, in the 2020-2021 bull market, Dogecoin would undergo another Log Breakout, this time leading to an even more prominent rally than before. This was the legendary 28,882% rally of 2021 when the DOGE price went from $0.0012 to almost $0.74. Given this historical performance and taking into account that breakouts like these often rhyme with their previous appearances, the crypto analyst believes that the Dogecoin price is set to undergo another major rally soon. How Far Can DOGE Rise? In his analysis, Marks presents his own expectations for the Dogecoin price should the Log Breakout be completed. According to the chart shared in the X post, Marks expects an at least 7,200% increase in the DOGE price from the current level. This would put the meme coin above $10 for the first time in history. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 The crypto analyst explains that each Log Breakout has led to a larger rally than the last, so this could mean that the DOGE price could rally higher. However, with the Dogecoin market cap already so large, such immense rallies could be hard-fought from here. In addition to Dogecoin, Shiba Inu is another meme coin that the crypto analyst is bullish on. In an earlier analysis, Marks pointed out that the second-largest meme coin by market cap had confirmed a macro Hidden Bullish Divergence. Given this, he expects that the Shiba Inu price could rise 354% from its current level to reach its all-time high levels around $0.000081. Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins

Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as [...]

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Can Dogecoin Replicate Its 2021 18,000% Run? Heres What The Chart Says

Crypto analyst Kevin (formerly OG Yomi) has made a bullish case for Dogecoin (DOGE). Based on his analysis, the foremost meme coin could replicate its 2021 bull run when it enjoyed a price gain of 18,000%. Dogecoin Could Soon Replicate Its 2021 Bull Run Kevin suggested in an X (formerly Twitter) post that Dogecoin could [...]

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Dogecoin Set For 1,700% Rally, Echoing Past Cycle Trends: Crypto Analyst

Crypto analyst Ali Martinez, known as @ali_charts on X, has shared a highly optimistic scenario for the Dogecoin (DOGE) price based on historical price movements and pattern analysis today. Martinez emphasized a repeating cycle in Dogecoin’s market behavior, suggesting a potential for massive gains similar to those observed in previous bull runs. Dogecoin Price Set To Repeat History? According to the analysis, Dogecoin appears to be following a consistent pattern where it consolidates within a descending triangle, followed by significant rallies of 140% to 230%. This is typically succeeded by retracements ranging from 56% to 60%, setting the stage for a bull run. I haven’t sold one single DOGE. I’ve just been buying! Dogecoin is playing the same pattern we’ve seen before. It consolidates in a descending triangle, sees a 140% to 230% rally, and retraces by 56% to 60% before entering a bull run. So now we just wait!!! Martinez said via X. The chart shared by the crypto analyst illustrates a recurring theme in Dogecoins trading history. In 2016, DOGE price successfully broke out of a descending triangle pattern, leading to a substantial rally of 229.58%, followed by a significant retracement of 60.44%. This pullback set the stage for the primary bull run surge witnessed in 2017. Similarly, in 2020, Dogecoin experienced a 138% rise post a breakout from another descending triangle pattern, only to undergo a 59.86% decline subsequently. Nevertheless, this decline cleared the way for yet another remarkable price surge in 2021. The second wave of price surges for Dogecoin has historically been substantial. Over a four-month period from September 2017 to January 2018, DOGE experienced a near meteoric rise of almost 2,900%, climbing from $0.0007 to $0.0194, following a retracement of up to 60%, as Martinez noted. In the last cycle, from February 2021 to May 2021, Dogecoin rallied approximately 1,700%, escalating from $0.041 to its all-time high of $0.7316. A rally akin to the 2017-2018 surge about 2,900%-could potentially elevate DOGE’s price to around $4 from its current level. Meanwhile, a rally similar to the 2021 increaseabout 1,700%would approximately push DOGE’s price to $2.4. Notably, Martinez’s chart suggests he anticipates a clear break above the $2 mark, although no exact price target has been specified. Already in March this year, Martinez wrote via X: I feel my fellow degens have been distracted with the new shiny memecoins, but Dogecoin remains the most important altcoin in this sector. From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a massive parabolic bull run! At the time, Martinez shared a chart which showed that he expects DOGE to exceed $11 in this bull run. Yesterday, Martinez offered a short-term price forecast for DOGE, stating via X: It looks like Dogecoin broke out of a wedge, which suggests an upside target of 44%! According to the chart presented by the crypto analyst, the next key short-term resistance levels for DOGE are positioned at $0.14479, $0.1613, and $0.1844. It looks like #Dogecoin $DOGE broke out of a wedge, which suggests an upside target of 44%! pic.twitter.com/Tyw7pF9TwG Ali (@ali_charts) July 24, 2024 At press time, DOGE traded at $0.1241. Featured image created with DALL·E, chart from TradingView.com

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Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22

Crypto Analyst World of Charts has highlighted a bullish pattern that could send the Dogecoin (DOGE) price to new highs. The analyst predicted that the foremost meme coin could rise to $0.22 when this move occurs.  How Dogecoin Will Rise To $0.22 World of Charts mentioned in an X (formerly Twitter) post that Dogecoin is approaching a falling wedge resistance. If it breaks out, the meme coin could enjoy a 66% price move and rise to $0.22, based on the chart he shared. Interestingly, the analyst added that Dogecoin could rise sharply to $0.30.  Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible Dogecoin has already arrived at the moment of truth, seeing as it is currently trading at around the $0.13 range, which World of Charts noted the falling wedge resistance is at. The foremost meme coin looks well-equipped to break out of this resistance level, considering the current bullish outlook of the market.  On-chain metrics also support such a parabolic rally for Dogecoin. For instance, there has been a significant increase in large transactions, with Bitcoinist reporting that Dogecoin whales bought millions worth of DOGE this past week. Data from the market intelligence IntoTheBlock also shows that these whales have been busy, with almost 10 billion DOGE traded in the last 24 hours by these whales.  Further data from IntoTheBlock also shows that there has been an increase of over 800% in large holders inflow, meaning that these whales are heavily accumulating the foremost meme coin. Such a wave of accumulation can send Dogecoins price flying and cause it to possibly reach World of Charts predicted price target of $0.30.  Meanwhile, it is also worth mentioning that most Dogecoin addresses (78%) are currently in the money, meaning they are in profits. As such, the meme coin will unlikely face significant selling pressure as it continues to move to the upside. Besides, those wallets in profit could help mitigate the impact of any selling pressure that could come from the 22% wallet addresses that could look to break even once their investment becomes profitable.  What Next For DOGE? Crypto analyst Rekt Capital mentioned in an X post that Dogecoin is retesting the Macro downtrend as new support. He claimed that a successful retest at this range would fully confirm the end of the Macro downtrend and the beginning of a new Macro uptrend. Based on the chart the analyst shared, DOGE could rise to as high as $0.4 once this new Macro uptrend begins. Related Reading: Dont Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting Crypto analyst Capt Toblerone also recently updated his Dogecoin chart analysis. The analyst predicts that the meme coin could rise to almost $0.3 on its next leg up. Capt Toblerone is one of those most bullish on Dogecoin, predicting that DOGE could rise to almost $2 at the peak of this bull run.  Featured image created with Dall.E, chart from Tradingview.com

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Heres Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It

On Sunday, the Bitcoin price saw a sudden crash that sent the likes of Dogecoin and Shiba Inu spiraling alongside it. This crash saw $2,000 wiped off the Bitcoin price in mere minutes, bringing it back down below $66,000. While this decline did not last at the time, there were a few factors behind it, which inflicted worry in crypto investors across the space. Why Did The Bitcoin Price Fall? The Bitcoin price crash below $66,000 had one major factor behind it and that was the US President Joe Biden. For months now, the war between President Joe Biden and former US President Donald Trump had raged on, with the two being the leading candidates for the position. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date However, on Sunday, President Joe Biden made a shocking revelation, announcing that he was officially stepping down from the presidential race. In the announcement on X (formerly Twitter), which has so far garnered over 330 million views, Biden said that he was going to prioritize his duties as a president for the remainder of his current 4-year term, rejecting the Democratic Party nomination. In the same announcement, President Biden offered his support to Vice President Kamala Harris, to take on the presidential ticket for the Democratic Party. He also urged the party supporters to come together and beat Donald Trump, who is the strongest opponent so far. pic.twitter.com/RMIRvlSOYw Joe Biden (@JoeBiden) July 21, 2024 Following the announcement, the crypto market responded quickly, with the Bitcoin price plunging sharply. At the same time, coins like Dogecoin and Shiba Inu followed suit, dropping around 3% each in response to the announcement. Dogecoin, Shiba Inu Refuse To Stay Down Just like the plunge in price, the Bitcoin recovery was just as swift, rising to new monthly highs. The price eventually crossed $68,000 on Sunday, taking the crypto market with it. In response, Dogecoin and Shiba Inu followed, notching notable gains from their lows. For Dogecoin, the price rose back above $0.14 after falling below $0.128. This saw its overall daily gains at the time shoot up above 4%, with its daily trading volume also seeing a significant climb above $20 billion in one day. Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow In the same vein, the Shiba Inu price also rose from its lows of $0.0000173 to rise above $0.0000184. However, unlike Dogecoin, the Shiba Inu daily trading volume remains muted, with around $383 million at the time. As for the Bitcoin price, it continues to lead market bullishness, still holding the $67,000 support following the recovery. This translates to an approximately 12% increase in the cryptos price in the last seven days. Featured image created with Dall.E, chart from Tradingview.com

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Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Heres The Target

Dogecoin (DOGE) could be on the brink of a major bullish reversal based on a technical indicator recently flashing a bullish signal for the meme coin. While highlighting the bullish signal, crypto analyst Ali Martinez also hinted at how high Dogecoin could rise when this reversal occurs.  A Rebound For Dogecoin On The Horizon Martinez [...]

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