Dogecoin Price Prediction
The crypto market’s beloved meme coin, Dogecoin, has experienced bullish momentum, surpassing $0.080. At the writing time, the current price is $$0.08321, reflecting a 2% rise in the last 24 hours.
The VR Soldier analysts are positive about Dogecoin’s trajectory, anticipating even further uptrends.
Bulls Secure $0.080 Support, Can DOGE Trigger 30% Rally?
In recent trading sessions, Dogecoin’s price fluctuates between $0.080 and $0.08200, showcasing a robust bullish trend. Over the past week, this pattern has contributed to an overall growth of about 2.90%. However, the crypto market is generally favorable, with Bitcoin exceeding $50k and Ethereum surpassing $2,600.
The trading volume witnesses an impressive 56% surge, reaching $479 million. Ranked 11th in market capitalization, DOGE’s market value is currently approximately $11.57 billion. This resilience and market dominance in the bearish market indicates potential for further increases.
DOGE Price Prediction: Analysts Predict Positive Future
A crypto analyst, Captain Faibik, suggests that the coin is nearing a breakout from a symmetrical triangle pattern. This might lead to a 30% surge, targeting the 10-cent mark. For Dogecoin to sustain an upward trajectory, the Altcoin needs to consistently close above the $0.08 level.
$DOGE is on the Verge of Symmetrical Triangle Breakout..!!
In Case of Upside Breakout, Expecting +30% Bullish Rally in the Short term. 📈#Crypto #DOGE #Dogecoin pic.twitter.com/j1WL8mv33u
— Captain Faibik (@CryptoFaibik) February 13, 2024
If the coin successfully holds above the $0.080 support, it may rebound to $0.085 and eventually reach the crucial $0.1 threshold. This optimistic outlook depends on the coin navigating key resistance points and maintaining momentum.
However, a failure to surpass the $0.0800 mark could result in a decline. Immediate support is near $0.078, with a more critical support level at $0.0760. A breach below this could see it dropping towards $0.0710.
Dogecoin: Bullish Momentum Ahead
The VR Soldier analysts belive that the daily technical indicators present a bullish picture, with the MACD for DOGE/USD showing a bullish crossover. The signal line is above the MACD line, indicating increased buying pressure. The ADX at 9.66 forecasts a potential uptick, while the RSI for DOGE/USD remains below 50, indicating a neutral market stance. Most moving averages and oscillators on the 24-hour chart signal an uptrend for Dogecoin.
