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Dogecoin Price Prediction: Bullish Signs and Market Enthusiasm

Jordan Avery by Jordan Avery
February 14, 2024
in News
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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.

dogecoin-bullish-price
Image: CoinMarketCap

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

dogecoin-bullish-price

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.

Tags: BullishcryptocurrencyDogeDOGE Price PredictionDogecoinDogecoin Price PredictionMarket TrendsWill Dogecoin go up?
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