Dogecoin Price Prediction If the market can stabilize above the moving averages, it may continue to show a bullish trend.
Dogecoin (DOGE) has achieved a significant milestone by being successfully listed on Bitflyer, a well-known Japanese cryptocurrency exchange. The announcement, made via Bitflyer’s official X/Twitter account, marks a significant step for Dogecoin, which has continued to grow in popularity and adoption since its launch in 2013. Starting February 29, 2024, Bitflyer will begin handling Dogecoin at its sales offices, further solidifying the cryptocurrency’s position in the market.
Dogecoin Prediction Statistics:
Dogecoin current price- $0.098
Dogecoin Market Cap- $14.2 billion
Dogecoin Circulating Supply - 143.2 billion
Dogecoin Total Supply - 143.2 billion
Dogecoin Coinmarketcap Ranking- 10th
DOGE/USD Market
Key Levels:
Resistance Levels: $0.110, $0.115, $0.120
Support Levels: $0.080, $0.075, $0.070
DOGE/USD - Daily Chart
DOGE/USD has shown an upward momentum in the past few days, attempting to break above the 9-day and 21-day moving averages. Moreover, to move higher, the Dogecoin price must break above the upper border of the channel. Once achieved, traders can expect a continuation of the uptrend.
Dogecoin Price Prediction: Dogecoin price may rise
The daily chart shows that Dogecoin price is struggling to build positive momentum. Traders may expect a continuation of the bullish trend with the target of the upper boundary of the channel and a possible test of the $1 resistance level. Moreover, the 9-day moving average remains above the 21-day moving average, indicating possible resistance levels at $0.110, $0.115, and $0.120.
However, if the Dogecoin price maintains the ascending channel trajectory, traders may observe further bullish momentum in the coming sessions. Conversely, if the price falls back below the lower boundary of the channel, a bearish scenario may emerge with potential support levels at $0.080, $0.075, and $0.070.
DOGE/BTC trades at 173 SAT
Compared to Bitcoin, Dogecoin price is following the bullish trend and moving upwards. However, if the coin approaches the upper boundary of the channel, the market may continue to release more bullish pressure as the 9-day moving average may form a bullish crossover above the 21-day moving average, bringing more bullish signals in the market.
DOGE/BTC - Daily Chart
In other words, if DOGE/BTC falls and slides below the lower border of the channel, it could take the price to the nearest support level of 150 SAT. Further bearish movement could drop the price to the support level of 140 SAT and below. However, if the price continues to follow the bullish trend and moves upward, traders could see the price rise to the resistance level of 200 SAT and above.
However, MarketMaestro shared the news among his 5,000+ followers, saying that $DOGE #dogecoin #DOGE has reached its first target, right on target! Institutional buying is strong, exceeding the moving average (EMA5-21), and a new strong target is imminent, represented by the orange box!
Alternatives to Dogecoin
Dogecoin price is in a significant uptrend and is currently trading at $0.098, supported by bullish momentum above the 9-day and 21-day moving averages. If this positive momentum continues, Dogecoin has the potential to break through the upper boundary of the channel, although resistance may increase. Comparing Dogecoin's stability with its market cap of $14.2 billion, emerging coin Bitcoin Minetrix has raised nearly $11.5 million in its presale phase, indicating that it has the potential to quickly increase in value despite its lower market cap.
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