Crypto Market Analysis: Shiba Inu (SHIB) And Dogecoin (DOGE) Prices Decline Following Selling Pressure At Key Resistance
Recently, BTC’s price encountered resistance at $28.5K, taking a dip towards the pivotal $28K mark. Similarly, the meme coin sector is experiencing challenges. Top meme coins, Dogecoin and Shiba Inu are currently experiencing slight declines near their resistance points as sellers find opportunities from price spikes.
Sellers Prepare For A Downward Correction
Over the past 24 hours, Dogecoin and Shiba Inu have showcased strong performance. With traders turning their attention to meme coins after Bitcoin’s surge past $28K, the market’s trading volume has notably increased. However, the buying pressure was short-lived as data from Coinglass indicates that Dogecoin saw long positions worth $400K being liquidated, while SHIB experienced a $35K long-liquidation. This implies that investors are cashing in on the gains from the recent upswing.
Dogecoin (DOGE) Price Analysis
In recent hours, Dogecoin’s price movement has become bearish as it failed to surge above the level of $0.065. As a result, sellers opened short positions, and the DOGE price is now on a downward correction, hovering around the EMA20 trend line. As of writing, DOGE price trades at $0.0626, surging over 1.09% in the last 24 hours.
The 20-day EMA stands at $0.062 and appears to be leveling off, while the RSI has declined and hovers just above the midpoint, signifying an equilibrium between buyers and sellers. A strong rebound by buyers above the 20-day EMA could mark the beginning of a renewed momentum, with the DOGE price possibly targeting the immediate resistance of $0.065 and then aiming for $0.07.
Conversely, to counter this upward trajectory, bears would need to pull the price below $0.059 quickly. If they succeed, the meme coin might descend to the next significant support level at $0.055.
Shiba Inu (SHIB) Price Analysis
SHIB price witnessed robust purchases today as the price reached a high of $0.0000076. However, bears soon made their entry to plunge the meme coin. As a result, the SHIB price declined below the 23.6% Fib channel and reached the bottom of EMA100 to initiate a minor rebound. This suggests that buyers are capitalizing on price dips. Currently, SHIB price is trading at $0.00000742, surging over 0.55% from yesterday’s rate.
The extended wicks on the candlesticks indicate bearish selling around the 38.2% Fibonacci retracement mark of $0.0000076. However, on the bullish side, the price is holding above the immediate support level.
For a further upward trajectory, buyers need to send the price beyond the crucial price level of $0.0000078, paving the way for a potential retest of the resistance at $0.0000085.
The RSI level has declined from its overbought region, and it currently holds momentum above the midline at 50, suggesting a rebound for the SHIB price. If SHIB’s price declines and fails to rebound from $0.0000071, it will trigger an intense bearish rally, touching the ground at $0.0000064.
Will DOGE Price Break Out Soon?
The cryptocurrency industry starts the month of October in green as the market witnesses a jump in its value for the second consecutive day. With the top cryptos now stabilized and gaining value daily, the market is expected to trade the month on a bullish note.
Following the price dip in mid-September, the coin experienced massive price volatility, resulting in the coin trading in a descending triangle and a consolidated range for a brief period of time. The memecoin was then seen trading close to its support zone, where the coin repeatedly managed to hold itself above the levels indicating the bull power.
The Dogecoin recently broke out of the descending triangle and has now started trading with the support of an ascending trendline. The coin is heading towards its resistance level of $0.06459 and is predicted to be tested soon.
The RSI averages constantly test the overbought zone as the coin repeatedly fails to break out of it, indicating a strong buying and selling power. Moreover, Dogecoin continues hovering around the level, indicating that the price will gain value in the coming days.
On the other hand, the MACD displays a green histogram, indicating a positive price action. Further, the chart shows a rising trend in its graph, indicating the Dogecoin price to continue trading on a bullish note this week.
Also Read: Dogecoin Price Prediction 2023 – 2025: Will DOGE Prices Shoot To The MOON?
Will Doge Coin Price Regain Its Value?
If the Bulls continue gaining power and the DOGE price breaks out of the resistance level at $0.06459, then the price will continue trading on a bullish note and prepare to test the upper resistance of $0.06706. Further, if Dogecoin continues to hold its price, it will head towards its target price of $0.06931 in the coming weeks.
On the contrary, if the bears overpower the bulls and a trend reversal occurs, then the memecoin will lose its momentum and start trading negatively. Moreover, if the market fails to hold the price of Dogecoin, the coin will continue to lose its value and will retest its support zone of $0.0600 this month.
Dogecoin (DOGE) Price Could Hit $0.08 Again If This Trade Plays Out Well!
The prevailing market conditions did not appear to be in favour of the bulls until the DOGE price triggered a favourable rebound at $0.0605. The price has failed in its every attempt to rise beyond $0.07, hence making the resistance at $0.08 one of the crucial ones to achieve. The mid-August plunge has weakened the bulls to such an extent that the selling volume has diluted the buying pressure. However, the Dogecoin price is approaching a crucial juncture that indicates a probable rise to $0.08.
DOGE prices often experience a bullish push with the rise in positive market sentiments, backed by some mentions over the various platforms. However, they remain short-lived as the levels drop back to their initial stage. Presently, the crypto market sentiments are somewhat positive as the Bitcoin price trades around $28,000, indicating the possibility of hitting $30,000 soon.
Therefore, as the flagship crypto surpasses $30,000, the DOGE price is also expected to rise as the memecoin is at the foothill of an explosion.
The DOGE price has been holding the support zone between $0.0605 and $0.0626 ever since the start of 2023. Despite September remaining largely under the bearish influence, the token defended the support levels well. This indicated the strong presence of bulls who are accumulating strength to trigger a fine rebound. If the previous trade plays out, then the DOGE price is primed to reach $0.08 before the end of the monthly trade.
Presently, the Dogecoin (DOGE) price is completing an uptrend that has occurred in the past. The trend has been accomplished with the accumulation and may maintain a healthy upswing for the next couple of weeks to reach $0.08. Besides, the volume remains low comparatively, which may hinder the progress of the rally. Therefore, if the price surges above $0.07 before the end of the week, then one can expect a fine rise towards the significant resistance. Otherwise, a rejection could be imminent.
Shiba Budz (BUDZ), Dogecoin (DOGE) & Solana (SOL)
Cryptocurrencies have revolutionized the financial world, offering decentralized solutions and disrupting traditional systems. Among the vast array of tokens available, three tokens have emerged as major players in the crypto landscape: Shiba Budz (BUDZ), Dogecoin (DOGE), and Solana (SOL). Each of these tokens brings unique features and innovations transforming the industry.
Shiba Budz: Revolutionizing Blockchain Gaming with TreeHouse Gaming
One of the most exciting developments in the crypto world is the rise of blockchain gaming. Shiba Budz (BUDZ) is at the forefront of this revolution with its TreeHouse Gaming platform. By leveraging blockchain technology, Shiba Budz (BUDZ) is creating a play-to-earn gaming ecosystem that allows users to earn real-world value through gameplay.
TreeHouse Gaming is designed to provide a seamless and immersive gaming experience. Players can participate in various gaming tasks and competitions within the virtual world. They earn Shiba Budz tokens (BUDZ) as they progress, which can be exchanged for real-world value. This innovative gameplay model is revolutionizing the gaming industry by introducing true ownership, transparency, and unique economic dynamics.
The TreeHouse Wallet, developed by Shiba Budz (BUDZ), plays a crucial role in the gaming ecosystem. It is a non-custodial wallet that allows users to store their BUDZ tokens securely. The wallet also provides functions for De-Fi participation, staking, voting, payments, rewards, and Web3 integration. With the TreeHouse Wallet, users have complete control over their assets and can actively engage in the Shiba Budz (BUDZ) ecosystem.
Solana: Empowering Decentralized Gaming with Cross-Chain Compatibility
Solana (SOL) is another token that is transforming the landscape of blockchain gaming. With its high-speed and scalable blockchain network, Solana is empowering decentralized gaming platforms to overcome hurdles and attract a broader user community. The network’s protocols have adopted innovative tactics and partnerships to enhance De-Fi engagement and liquidity pools.
One of Solana’s notable achievements is its collaboration with the Dogecoin (DOGE) community. Dogecoin, a meme-based cryptocurrency, has gained significant popularity and a dedicated following. Shiba Budz (BUDZ), being inspired by Dogecoin, has received immense love and support from the Dogecoin community. This collaboration has strengthened the Shiba Budz (BUDZ) ecosystem and further propelled its adoption.
Dogecoin: Love and Support from the Community
Dogecoin (DOGE) has become a cultural phenomenon in the crypto world. Initially created as a joke, Dogecoin has gained a massive following and a strong community of supporters. This community-driven token has not only captured the attention of crypto enthusiasts but has also extended its influence to other tokens like Shiba Budz (BUDZ).
Shiba Budz (BUDZ) has received love and support from the Dogecoin (DOGE) community due to its shared roots and similar meme-inspired approach. The Dogecoin community recognizes the potential of Shiba Budz (BUDZ) and its TreeHouse Gaming platform to bring about positive changes in the blockchain gaming industry. This support has helped Shiba Budz (BUDZ) gain momentum and attract a wider audience.
Conclusion
The crypto landscape is constantly evolving, and tokens like Shiba Budz (BUDZ), Dogecoin (DOGE), and Solana (SOL) are leading the charge. Shiba Budz’s (BUDZ) TreeHouse Gaming platform is revolutionizing the gaming industry by introducing play-to-earn models and creating a seamless gaming experience. Solana’s cross-chain compatibility and partnerships are empowering decentralized gaming platforms to reach new heights. Lastly, the love and support from the Dogecoin community have further solidified Shiba Budz’s (BUDZ) position in the crypto world.
These tokens are changing the landscape of crypto by pushing boundaries, fostering innovation, and offering unique opportunities for users. As the crypto industry continues to grow, it is important to keep an eye on these tokens and the impact they are making in the ever-evolving world of blockchain technology.
Sign Up and Join the community via the website: https://shibabudz.org/ and Social media links: https://t.me/ShibaBudzP2E, https://twitter.com/ShibaBudz
Is Sensei Inu Poised to Eclipse Shiba & Doge in Crypto Spotlight?
In the world of cryptocurrencies, there’s a new contender making waves, and its name is Sensei Inu. With the crypto market brimming with options like Shiba Inu and Dogecoin, it’s time to examine whether Sensei Inu is the dark horse ready to outshine them all.
The Rise of the Underdog
Shiba Inu and Dogecoin have held the limelight for quite some time in the realm of cryptocurrencies. Their cute dog-themed branding and social media hype have attracted a massive following. However, Sensei Inu is here to challenge the status quo, armed with some impressive features.
Sensei Crypto Trivia: A Game Changer
One of Sensei Inu’s standout features is its Crypto Trivia game, a revolutionary concept in the crypto world. Unlike Shiba and Doge, which primarily rely on meme-driven marketing, Sensei Inuencourages users to expand their knowledge about blockchain technology while having fun. This is achieved through engaging trivia challenges that reward users with $SINU tokens as they showcase their expertise.
Learning While Earning
Sensei Inu’s approach is not just about earning tokens; it’s about fostering a community of crypto enthusiasts keen on learning and growing. With each trivia round, participants test their knowledge and witness their $SINU token rewards grow. The more you know, the more you earn—a truly empowering dynamic for the crypto-savvy community.
The Impressive Presale Run
One of the standout achievements of Sensei Inu is its remarkable presale success. Within the first hour of its presale launch, Sensei Inu raised over $50,000. Even more intriguing is that with every presale stage, the price of $SINU token has been on a consistent upward trajectory. This demonstrates the trust and confidence the community has in this project.
Conclusion
As the crypto landscape continues to evolve, Sensei Inu is a project on which to keep a close eye. With its innovative approach, community-driven ethos, and impressive presale performance, it’s certainly making a case for itself in the crypto spotlight. While Shiba Inu and Dogecoin have their place, Sensei Inu is carving out its niche, offering a unique combination of learning, earning, and excitement in the blockchain world.
FAQs:-
1. How can I participate in Sensei Inu’s Crypto Trivia game?
To participate, visit the Sensei Inu website, connect your web3 wallet (like MetaMask), and answer trivia questions while earning $SINU tokens.
2. What makes Sensei Inu’s Proof-Of-Value different from other mechanisms?
Sensei Inu’s Proof-Of-Value values knowledge and skills, giving every individual the opportunity to shine. It’s not just about winning tokens; it’s about personal growth and rewards for expertise.
3. How can I purchase $SINU tokens?
You can purchase $SINU tokens using ETH, BNB, USDT, or a credit card. Connect your wallet to the Sensei Inu website, choose your preferred currency, enter the amount, and click “Buy Now.”
4. What distinguishes Sensei Inu from other meme-based cryptocurrencies like Shiba Inu and Dogecoin?
Sensei Inu differentiates itself by offering a unique combination of educational value through its Crypto Trivia game, strong community engagement, and a well-balanced tokenomics structure.
5. How can I claim my $SINU tokens after purchasing them?
After buying $SINU tokens, you can claim them from the Sensei Inu claim page using the same MetaMask wallet once the presale ends. Details for claiming will be provided on the website.
Website: www.senseiinu.com
Telegram #1: https://t.me/SenseiOfficialChat
Telegram #2: https://t.me/SenseiOfficialAnnouncement
Twitter: https://twitter.com/SenseiINUcoin
Is DOGE Price Warning A Crash To $0.050?
The daily chart of DOGE price action shows a falling wedge pattern with an ongoing correction phase. The Dogecoin price action also forms a long consolidation range with a fakeout of the $0.64 resistance zone.
Furthermore, the bears are in control as the price of DOGE has dropped by 60% since November 2022, trapped in a long-term downtrend. The future appears bleak for the dog-themed memecoin as the key EMAs continue to trend downward.
Currently, the DOGE price ongoing brawl between bulls and bears is evident within the consolidation range. Moreover, due to the market-wide correction, the recent red candle warns of a bearish outcome.
In the 4-hour chart, the consolidation range becomes even clearer, with fakeouts of either side evident over the past weeks. However, the recent fallback faces opposition from the buyers present at the bottom support, leading to a reversal sprout.
Nevertheless, the overhead supply pressure and the fear-covered market conditions may soon break down the range. Currently, the DOGE price trades at $0.0617 while showing some signals of a bullish recovery.
Technical indicators:
MACD indicator: With the bullish sprout at the support zone, the bearish histograms are on a decline. This increases the possibility of a bullish crossover.
RSI indicator: Falling sharply under the halfway line, the RSI line starts a small recovery phase.
Will DOGE Price Manage A Recovery?
With a recovery sprouting in the 4-hour chart, the chances of a bull cycle are minimal compared to a prolonged sideways trend. Therefore, the DOGE price may soon hit the overhead zone at $0.064 and elongate the consolidation range.
On the flip side, a downfall below $0.064 will plunge the DOGE price lower to the $0.050 psychological mark.
XRP Leads U.S. Altcoin Trading with $150 Billion Volume, Overtakes SOL, Doge, ADA, SHIB
Over the past few weeks, XRP has achieved a significant milestone; it has emerged as the top-traded altcoin in the United States by trading volume. This surge in trading activity follows Ripple Labs’ recent legal triumph over the SEC, leading to renewed investor interest in XRP.
With a trading volume exceeding $150 billion, XRP has outpaced other popular altcoins like Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB). This achievement signifies the growing prominence and resilience of XRP within the cryptocurrency market.
XRP Shines Bright as the Leading Altcoin Globally
In the global market, XRP’s rise is not limited to the United States. Its trading volume has surpassed other altcoins, demonstrating its widespread popularity. In August alone, XRP achieved a remarkable daily trading volume of $462.8 million, surpassing its closest competitor Solana by an impressive 3.6 times.
XRP’s exceptional growth has positioned it as one of the most actively traded cryptocurrencies, closely following the footsteps of Bitcoin and Ethereum.
Although XRP experienced a recent price decrease, it still achieved an impressive monthly gain of over 38%. This remarkable increase added approximately $10 billion to its market capitalization.
XRP Liquidity Rises, Restoring Investor Confidence
XRP’s liquidity has experienced a significant increase; before the legal ruling, its market depth stood at $8 million, but as of early September, it has risen to $12 million. This noteworthy surge in liquidity and market depth reflects the renewed interest in XRP following positive legal developments involving Ripple Labs and the SEC.
XRP continues to dominate headlines and set impressive trading records, showcasing its remarkable strength and untapped potential. Currently, XRP is trading at $0.5138, up by 3.6% in the last 24 hours.
Dogecoin Price Analysis: Top Reasons Why DOGE Price Could Surpass its ATH in the Next Rally
Dogecoin (DOGE) has undeniably experienced significant growth since the end of the 2021 crypto bull rally, despite enduring a 19-month bear market.
According to on-chain data from Tokenview, the Dogecoin network boasts approximately 5.8 million holders who have facilitated over 171 million transactions. It’s worth noting that Dogecoin maintains a total hash rate of around 869 TH/s and a mining difficulty of 12.98 million, which provides a high level of security against a 51 percent attack.
Why Dogecoin Price is Well-Positioned for More Growth?
One of the primary reasons why Dogecoin is well-positioned for further growth is its strong ecosystem, buoyed by unwavering support from tech billionaire Elon Musk. Musk prominently displays his affiliation with Dogecoin through his X status and has issued numerous tweets expressing his support for this meme coin. Additionally, Musk has mentioned that he purchased some Dogecoin as a long-term investment for his son.
As a result, Dogecoin is well-prepared to surpass its all-time high (ATH) during the next crypto bull rally. According to a crypto analyst using the pseudonym Stockmoney Lizard on the X platform, the forthcoming Bitcoin halving, which is just six months away, and the imminent integration of Dogecoin into the X platform for payments, are the missing bullish triggers.
DOGE price has consistently outperformed Bitcoin since its inception, and this momentum is expected to persist in the future, despite diminishing returns. Furthermore, Dogecoin’s annual inflation is projected to decrease by as much as 1.9 percent by the year 2050.
From a technical perspective, the Dogecoin price has been forming a symmetrical triangle, signaling a potential breakout towards a new all-time high (ATH).
New York Crypto Regulators Removes $DOGE and $XRP from Their Crypto Greenlist – Controversy Erupts
A recent decision by the New York Department of Financial Services (DFS) has ignited debates within the cryptocurrency community. The DFS’s alterations to its “greenlist” of approved tokens have raised questions about the future of crypto regulation.
New York’s Revised Crypto Approach
The DFS recently unveiled changes to its oversight procedures for virtual currencies. These modifications affect how digital businesses licensed by the DFS can feature various cryptocurrencies.
Among these changes, over two dozen digital tokens, including Ripple (XRP), Dogecoin (DOGE), and Litecoin (LTC), were removed from the DFS’s previously approved “greenlist.” However, well-established cryptocurrencies like Bitcoin and Ethereum remain on the list, along with the addition of the PayPal Dollar.
A Firm Hold on Digital Assets
Despite Congress’s reluctance to enact crypto regulations, the DFS has taken a proactive stance, positioning itself as a leader in overseeing digital assets nationwide. This distinction is partially attributed to its BitLicense program and its specialized virtual currency unit.
While some critics in the crypto sector find fault with the DFS for its licensing process, the latest guidelines demonstrate the organization’s balanced approach to crypto management. This stands in contrast to other state and federal entities that appear more focused on enforcement rather than regulation.
Expert Opinions Chime In
In response to the news, Crypto Wendy O expressed concerns, suggesting potential hidden agendas in the current administration’s approach to crypto regulations. In response, respected lawyer and crypto enthusiast Bill Morgan questioned the importance placed on court rulings versus statements from senior SEC officials, especially concerning the status of certain cryptocurrencies.
Referring to the exclusion of XRP from the greenlist, despite a recent court ruling that it is not a security, Morgan highlighted the inconsistencies in regulatory responses. The DFS’s updated guidelines suggest a broader strategy for overseeing the crypto industry.
Under previous directives, digital businesses operating under the DFS’s virtual currency scheme could gain approval for holding and listing digital tokens through a self-certification process. This streamlined approach ensured that the DFS remained informed and maintained a supervisory role.
VC Spectra (SPCT) is Surging! How Does it Stack Up Against Dogecoin (DOGE) and XRP?
VC Spectra (SPCT) has continued to defy and outperform the crypto bear market in its Stage 3 public presale. It is on its way to generating 220% gains for its current investors. But the current bear market has heavily impacted Dogecoin (DOGE). The XRP crypto price has also dropped after rumors that Ripple sold XRP to acquire Fortress Trust on September 8.
VC Spectra has stacked up well against Dogecoin (DOGE) and XRP to emerge as one of the best altcoins according to analysts. Let’s understand why.
VC Spectra (SPCT) Continues Surging Amid Crypto Market Dump
Every crypto market cycle witnesses some projects that defy the conditions to give real-world utility and unsurmountable profits. VC Spectra (SPCT) has emerged as the outlier for the current market. It is an open to all, democratic, community-driven, transparent, and decentralized venture capitalist hedge fund and trading platform.
VC Spectra is designed on the Bitcoin network and uses smart contracts to perform its functions. It makes investments in the top ICO and DeFi companies to generate profits for its users. The user’s funds are locked in smart contracts and are under the user’s complete control.
SolidAudits has conducted audits of the VC Spectra (SPCT) smart contracts.
The platform’s native token, SPCT, is used for governance, trading, investment, and managing assets on the VC Spectra platform. The SPCT token is a BRC-20 token with a deflationary burn mechanism.
The SPCT token is in Stage 3 public presale at a price of $0.025 per token. Users buying the VC Spectra token at this price will earn 220% profits when presales end and SPCT reaches $0.08 per token. This has resulted in VC Spectra (SPCT) being termed as the best crypto to buy according to expert traders.
Dogecoin (DOGE) Dumps Further as Selling Pressure Piles Up
The Dogecoin price prediction has gone further downhill as the crypto bear market strengthens. The Dogecoin price prediction only turned positive after Grayscale’s victory over the SEC on August 29. DOGE surged to $0.067 on August 29 before market correction caused it to drop again.
Even with X (Twitter) acquiring the license to integrate crypto into the platform, the Dogecoin price prediction has stayed negative.
One of the major reasons behind the drop in the DOGE price is the poor performance of meme coins across the crypto market. Banana Gun, a meme coin launched on the BASE Network, faced a rug-pull on September 11. Hence, the sentiment behind meme coins, including Dogecoin (DOGE), has taken a hit.
Dogecoin (DOGE) is down by 8.9% from its August 29 high. DOGE is trading at $0.061 as of September 12, with no relief in sight. Hence, investors looking to buy Dogecoin (DOGE) are advised to exercise caution by the experts.
The XRP Crypto Price Loses All Gains Made After its SEC Victory
July 13 marked a momentous day for XRP (XRP) and the entire crypto industry. When, in a judgment, the court in the US declared that XRP is not a security, the entire crypto market witnessed a huge pump.
The XRP crypto price rose 74.8% to reach $0.841 on July 20 from $0.472 on July 13. However, the crypto market has corrected and entered a bearish phase since then.
The SEC is preparing to challenge the court’s verdict. Moreover, the acquisition of Fortress Trust also raised some issues. There were rumours that XRP was used to fund the acquisition.
As a result of the bear market and these developments, XRP is down 42.8% from its July 20 high. The XRP price on September 12 is $0.481, which is not too far from its July 13 low. Thus, experts advise investors to wait for further information before they buy XRP.
Considering DOGE and XRP obstacles towards rising, VC Spectra (SPCT) has emerged as the best cryptocurrency to buy in September with its utility and profits.
Learn more about the VC Spectra presale here:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Will DOGE Price Find Its Tail Under $0.050?
Trapped in a long-term downtrend, the DOGE price is down by almost 60% since November 2022. With the crucial EMAs maintaining a downtrend, the future seems bleak for the dog-themed memecoin.
In the daily chart, the DOGE price action displays a falling wedge pattern with an ongoing correction phase. Moreover, the DOGE price action mimics a head and shoulder pattern with the fakeout of $0.64 during the consolidation phase.
In hindsight, the drastic 4.20% fall on the 10th and 11th of September led to the head and shoulder breakdown.
Currently, the DOGE price trades at $0.610 with a higher price rejection in the intraday candle that displays a retest of the bearish breakdown. Moreover, it promotes the possibility of a downtrend continuation.
Coming to the technical indicators, the MACD indicator displays a bearish crossover. Meanwhile, the RSI indicator approaches the oversold boundary.
In the 4-H chart, the DOGE price action displays a quick reversal to retest the broken range at $0.61. If the bearish supply increases at the $0.61 resistance zone, the downtrend continuation can break under the $0.59 mark. This increases the possibility of a downfall with a post-retest reversal.
The DOGE price action can challenge the support trendline of the falling wedge pattern and reach the $0.053 mark before taking a bullish reversal. This will lead to extreme pressure on upcoming support levels and challenge the bullish dominance.
Will A Failed Morning Star Crash DOGE To $0.050?
Creating lower highs in the weekly chart, resulting in a 60% drop in DOGE price since November 2022. Supporting the bearish clan, the 50-week EMA keeps the bullish comebacks in check to lower the DOGE price in a downtrend.
However, the buyers create a fortress at the $0.060 level, holding down the downtrend and struggling to avoid a lower low formation. Will this revolt lead to a stronger comeback for DOGE, or will it plunge to $0.050?
Moving sideways for the last three weeks, leading to multiple Doji candles in the 1-week chart, the DOGE price. Moreover, the Dogecoin price action displays a long tail reversal in the falling wedge pattern, teasing an upcycle in order.
Let’s delve deep into the sideways trend of Dogecoin price action.
Buyers Prepare A DOGE Price Breakout
Following a sharp $0.064 breakout rally, the DOGE price fails to surpass the 200 EMA in the 4-H chart. Leading to a double top reversal to plunge back below $0.64, Dogecoin price reattempts a bullish breakout.
Trading at $0.0639, the Dogecoin price action finds a cushion at the 50 EMA in the 4-H chart with multiple long tail candles.
Moreover, the MACD and RSI indicators remain positive to support the breakout thesis. The bullish crossover in the MACD indicator and the RSI line sustaining above the halfway line project an improvement.
Therefore, the $0.064 breakout can potentially strap the DOGE price back on a recovery trajectory and reach the $0.070 mark. Accounting for a 9% jump, it will catalyze the upcycle within the bearish wedge, projecting further recovery.
On the flip side, a freefall in DOGE price to $0.060 will threaten the downtrend continuation with a breakdown. In such a case, the Dogecoin price will plume to the next psychological support of $0.050.
Dogecoin Price Analysis: Will DOGE Price Drop to $0.040 Before a Rebound?
In the realm of meme coins, Dogecoin (DOGE), endorsed by none other than Elon Musk himself, is grappling with short-term bearish pressure, mirroring the broader crypto market sentiment. As the early New York session unfolded on Tuesday, Dogecoin was trading around $0.063, unmistakably signaling its position within the final stages of a macro consolidation phase before a forthcoming bullish breakout.
Nonetheless, the meme coin appears poised to dip further in the coming weeks, strategically positioning itself to harness additional bullish momentum. According to renowned digital asset analyst Crypto Tony, who boasts an impressive following of over 335k X platform enthusiasts, Dogecoin’s price trajectory remains somewhat precarious.
This uncertainty stems from last month’s descent from a significant macro-falling logarithmic trendline. Crypto Tony notably asserted that Dogecoin’s bullish cohort must recapture their momentum by allowing for a further dip, especially after encountering rejection on three occasions from the upper resistance boundary.
Crypto Tony anticipates that Dogecoin’s price could potentially descend to as low as $0.040, a strategic move aimed at facilitating a rebound that can catapult it beyond the overarching macro resistance zone. This perspective finds resonance among many investors who anticipate that the premier meme coin will continue its descent until it identifies a more robust support level.
Zooming out for a broader perspective, Dogecoin faces formidable competition from other meme coins, such as Shiba Inu (SHIB). Notably, SHIB recently introduced its layer two (L2) scaling solution, Shibarium, further intensifying the rivalry within the meme coin arena.
Currently, Dogecoin’s fortunes appear heavily tethered to the whims of Elon Musk’s Twitter pronouncements, a factor that numerous analysts contend may not suffice in fending off the competition posed by other meme coins. Nonetheless, it’s worth noting that Dogecoin has witnessed a notable uptick in on-chain developments when compared to the pre-2021 crypto bull market.
Crypto Market Analysis: Shiba Inu (SHIB) And Dogecoin (DOGE) On The Edge Of Bearish Channel Pattern
Despite Grayscale’s recent win against the SEC fueling a significant surge in Bitcoin and the cryptocurrency market, those gains have been wiped out. The SEC’s decision to postpone the approval of a spot BTC ETF triggered a market-wide selloff and meme coins like Shiba Inu and Dogecoin haven’t been spared. After a short-lived bullish rally, both tokens have reverted to their pre-surge price levels, raising concerns as they now trade within a bearish channel pattern.
SHIB And DOGE Flash Downward Volatility
Concerns are rife in the meme coin ecosystem due to recent ‘rug pull’ allegations surrounding Pepecoin. However, Dogecoin and Shiba Inu are still capturing investor attention, as capital flows into these tokens due to Bitcoin’s increased volatility following recent impactful developments.
Traders of Dogecoin are bullish on the token’s future prospects, especially as Elon Musk’s Platform X shows signs of adopting crypto payments. Simultaneously, Shiba Inu is invigorating its community with positive developments, setting new records daily with its Shibarium launch. However, despite these encouraging signs, there’s a concern about a possible slump for both meme coins in September.
Shiba Inu (SHIB) Price Analysis
Analyzing the 4-hour price chart of Shiba Inu, bears are currently attempting to break below the symmetrical triangle pattern’s uptrend line. Despite bullish pressure, there’s a growing selling domination among traders amid the market selloff. As of writing, SHIB’s price trades at $0.0000079, declining over 2.5% in the last 24 hours.
If bulls fail to defend the current downtrend below the pattern, this could signal that bearish elements are gearing up for a return. In this scenario, SHIB’s price might head toward its next support of $0.0000073.
However, a robust bounce back from the current downward channel could indicate that buyers are defending declines, enhancing the chances of a rally that exceeds the EMA50 trend line. If this occurs, the price of SHIB could potentially break out of the triangle pattern, targeting a trade level above $0.00001.
Dogecoin (DOGE) Price Analysis
Recently, Dogecoin touched its 20-day EMA, valued at $0.064, although it’s proving difficult for the bulls to keep the price above this point. Currently, DOGE’s price is trading at $0.063, declining nearly 4.2% from yesterday’s rate.
If the price experiences a decline from where it stands now, this would indicate that sellers are willing to meet bearish goals. In that case, the DOGE price might consolidate above $0.06.
Conversely, if the price holds its ground without losing much value, this could signify that bullish momentum is still strong. This scenario could set the stage for a possible surge to its breakdown level of $0.068.
Robinhood’s Web3 Wallet Adds Bitcoin and DOGE Support!
Robinhood’s Web3 wallet has announced the addition of support for Bitcoin and the DOGE network. So far, the platform has only supported the Ethereum, Polygon, Arbitrum, and Optimism networks. In addition, the in-wallet transaction feature has now added support for the Ethereum network, which was previously only available on Polygon. The change is expected to benefit Robinhood’s cryptocurrency users, who can now transact in different cryptocurrencies, including Bitcoin, through the wallet. The update comes as Robinhood continues to expand its user base in the cryptocurrency market.
Analyst Issues Warning for Dogecoin and Shiba Inu – Here’s What Next For DOGE and SHIB Price
In the dynamic realm of cryptocurrencies, the fate of Dogecoin (DOGE) and Shiba Inu (SHIB) has been the center of attention. Altcoin Sherpa, a prominent analyst, has weighed in on their potential trajectories.
DOGE Price
Starting with Dogecoin, Altcoin Sherpa highlighted a critical juncture for the coin. DOGE had previously touched a pivotal support level at $0.057, which has become a point of interest. However, Altcoin Sherpa cautioned against hasty investments, noting that DOGE’s price might exhibit erratic behavior around this level.
If the support at $0.057 falters, the analyst warned that the next support level at approximately $0.045 could be tested. Altcoin Sherpa refrained from recommending Dogecoin as an attractive purchase in the current landscape, advising a patient stance instead.
SHIB Price
The analyst extended this approach to Shiba Inu (SHIB). Despite a fleeting upward surge, SHIB retraced swiftly. Altcoin Sherpa observed a downtrend in SHIB’s 200-day Exponential Moving Average (EMA), mirroring the bearish sentiment seen in Dogecoin.
The 200-day EMA breaking down indicated a potential descent to lower levels, specifically around 0.00000742. This prompted Altcoin Sherpa to conclude that SHIB’s market structure remains bearish.
Altcoin Sherpa recommended a watchful stance. SHIB was deemed unappealing due to its limited volatility and lackluster market conditions. The analyst cautioned against rushing into investments in these cryptocurrencies without thorough consideration. The prevailing downtrends and uncertainties surrounding DOGE and SHIB underscored the need for vigilance in the current crypto landscape.
Elon Musk Hails Twitter as a “DOGE friendly place”!
The post Elon Musk Hails Twitter as a “DOGE friendly place”! appeared first on Coinpedia Fintech News
Elon Musk has hailed Twitter as a “DOGE friendly place” in a recent tweet. The tech billionaire has been a vocal supporter of Dogecoin on social media and has played a significant role in driving up its price through his tweets. He has even spoken about plans to take Dogecoin to the moon as part of his SpaceX missions. Many in the Dogecoin community have taken Musk’s tweet as a sign of support and are speculating that he may use Twitter to further promote the cryptocurrency. Twitter has not officially endorsed Dogecoin, but the platform has been a hub of activity for Dogecoin enthusiasts.
DOGE Price Analysis: Will Dogecoin Ignite A Rally in Memecoins With $0.065 Breakout?
In the ongoing correction, Dogecoin falls 25% in value in just 23 days, reaching the bottom support level of $0.60. Falling around 20% last week, the crashing markets fueled the negative cycle in Dogecoin, breaking multiple support levels.
However, the meme coin finds support and hatches a reversal plan to reboot a bull run.
Dogecoin Sellers Dominate The 1-Week Charts
In the 1-week chart, Dogecoin presents a sharp downtrend within a falling wedge since November 2022. Completing the recent negative cycle, the lower price rejection from the support trendline and buoyancy above $0.060 teases a sharp upcycle.
Moreover, the reversal rally can challenge the overhead resistance trendline moving along with the 50-week EMA. In the case of the confluence resistance breakout, Dogecoin is set to embark on a solid bullish path.
DOGE Buyers Hatch A Reversal Plan
Following the drastic crash last week, the DOGE prices manages to avoid a downfall at $0.060. Dogecoin forms a double bottom pattern in the 4H chart, leading to a sideways trend, teasing a potential reversal.
With a neckline at $0.065, the breakout rally can improve the meme coins sentiments and helps an overall sectorial betterment. The breakout rally will likely face the 50-day EMA before challenging the $0.070 mark.
On the flip side, a bearish continuation will lead to a $0.060 breakout dropping Dogecoin to lower levels. As per the Automatic Fibonacci trend retracement, the support levels after the $0.060 breakout are present at $0.056 and $0.053.
Shiba Inu (SHIB) Breaks Down From Bullish Range-Will Dogecoin (DOGE) & Pepe (PEPE) Follow?
Shiba Inu (INU) Poised to Drop below $0.0000085
The most anticipated event occurred, the Shibarium Ethereum L2 blockchain went live on the Mainnet, which unfortunately had a turbulent start. The SHIB price plunged by 9% as users reported bridging issues and were also blocked from sending messages to a community from Discord. The transactions were halted for several hours, piled up bearish sentiment, and dragged not only SHIB but also BONE & LEASH prices down.
With the recent price action, the SHIB price slides below the bullish pattern, indicating the growing control of the bears over the token. The price transposed from a recovery mode to a descending mode and is currently heading down to reach the lower support at $0.000008. However, a minor support level of $0.0000085 may trigger a rebound, but the lack of bullish strength at these levels may not offer the basis for a bullish reversal. Therefore, SHIB prices may continue to plunge until market sentiment flips in favour of the bulls.
Pepe (PEPE) Ready to Explode by 10%
Pepe coin underwent a steep downfall in the recent past after it faced rejection from the interim highs at $0.00000144. After plunging by more than 22%, the price is trying to stabilize a bullish reversal that may lift the price to some extent. But the mounting bearish pressure may prevent it from doing so, compelling the price to remain consolidated for an extended period.
Considering the current trade setup, the PEPE price is trying to light a strong bullish impulse wave that may raise the price back to its initial position. Besides, the RSI also rebounded after testing the lower support, which substantiates the claim. Therefore, after a brief consolidation, the PEPE price is believed to trigger a massive upswing to rise and secure levels above $0.0000014, which may in turn lift the price towards $0.0000016.
Dogecoin (DOGE) Attempts a Bullish Reversal
The Dogecoin price continues to trade within a bearish descending channel. The price continues to maintain a significant descending trend after failing to test the upper resistance levels of the channel. Although the trend remains under a bearish influence, the price is making an effort to validate a bullish reversal.
The RSI has triggered a bullish rebound but awaits confirmation, which suggests the bulls are gaining strength and may lift the prices higher soon. However, the buying pressure has yet to accumulate, and therefore, the DOGE price could continue chopping around $0.07 for a while before setting up a bullish breakout towards the upper resistance of the channel.
Altcoin Price Analysis: Can DOGE Price Replicate Shiba Inu’s 20% Weekly Upswing?
The rise of meme coins often signals the onset of unparalleled speculative trading by FOMO traders. Already, the second largest meme coin, Shiba Inu, has registered significant growth in the past few days fueled by the speculation of Shibarium layer two launches.
According to the latest crypto price oracles, Shiba Inu’s price has gained approximately 22 percent since the beginning of August to trade around $0.00000987 on Thursday. The recent Shiba Inu upswing has been attributed to the increased development activity pertaining to the launch of Shibarium L2.
Can Dogecoin (DOGE) Mirror SHIB’s Success?
According to data provided by Intotheblock, the correlation matrix between Shiba Inu and Dogecoin is about 0.74, which means that the rise of one token is often mirrored on the other. Currently, the Dogecoin price has experienced significant resistance after retesting a macro-falling line. As a result, the top meme coin has consolidated in the past week compared to the double-digit percentage gains in SHIB.
With the identified high correlation between Shiba Inu and Dogecoin, US-based crypto analyst Ali highlighted that it is prudent for traders to watch the latter carefully for possible price breakouts.
Meanwhile, the correlation analysis between Dogecoin and other digital assets revealed that Chainlink (LINK) and Uniswap (UNI) have a higher impact on the top meme coin than Shiba Inu. Notably, both LINK and UNI prices have been on a rising trend in the past few weeks.
Dogecoin Price Analysis: Is This Ultimate DOGE Price Breakout To Surpass $0.10?
With a remarkable bull run of 26.22%, as a positive cycle in a long-term falling channel, the Dogecoin price reaches the $0.08 mark. However, an early reversal leads to a correction phase in DOGE prices, plunging the meme coin to $0.073.
Holding the bear frenzy at $0.073, Dogecoin buyers absorb the extensive selling pressure and start a reversal rally.
With a double-bottom reversal at $0.073, the Dogecoin price challenges the short-term downtrend and projects a potential breakout rally. Moreover, the recovery rally forms three consecutive bullish candles, signaling a triple white soldier pattern.
The 3.36% recovery in the DOGE coin increases the double bottom breakout with a neckline at $0.0758. Additionally, the high trading volume and improving sentiments fueled the breakout phase.
The MACD indicator shows the MACD and signal line ready for a bullish crossover as the bearish histograms decline. Furthermore, the RSI line resurfaces above the halfway line reflecting a resurge in bullish sentiments.
Currently, the DOGE prices trade at $0.0759, and closing above the neckline or the resistance will set a bullish setup for the coming days.
Also Read : Dogecoin Price Analysis: Analyst Maps Entry Levels For DOGE Price
Considering the DOGE prices manage a closing above $0.0763 in the 4-hour chart, the meme coin will signal a triangle breakout. Optimistically the breakout rally will shoot the Dogecoin prices to $0.0811 before the weekend.
Moreover, the triangle breakout rally can challenge the long-coming resistance trendline fo the falling channel. If the spike in buying pressure overcomes the supply incoming at the overhead trendline, DOGE prices are ready to skyrocket above $0.10 this month.
On the flip side, a reversal within the triangle will retest the bullish dominance at the $0.073 level.
DOGE, QUBE On Investors’ Radar as Elon Musk Plans Big Moves
The InQubeta (QUBE) presale is attracting many cryptocurrency investors as it becomes more apparent artificial intelligence (AI) will be the next major technological revolution. InQubeta addresses the obstacles that often prevent investors from using conventional investing channels, like minimum deposits that most people can’t afford.
The artificial intelligence industry recently welcomed a new entrant as SpaceX founder and X (formerly Twitter) owner, Elon Musk, revealed his new company xAI. He states the company’s goal is to “understand the true nature of the universe,” but it’s really an alternative to AI-powered software like ChatGPT. The company has already built up an impressive team that consists of alumni of projects like OpenAI, DeepMind, and Google Research.
Dogecoin investors are hoping to see a price surge following Musk’s comments as is often the case whenever he’s in the news. Musk played a major role in the meme coin mania of 2021 and also helped to bring it to an end when he called it a “hustle.”
InQubeta (QUBE) poised to enjoy massive growth in 2023 and later
The InQubeta presale has been a monumental success so far, raising over $2 million early in its presale. Investors who join the action now set themselves up to grow their investment by 300% before the event ends. InQubeta is expected to see significantly more growth once the presale is over and tokens are launched on major exchanges. $QUBE tokens are currently undervalued and prices are expected to rise by over 100x as the market establishes their real price.
One of the major factors that have helped to drive investors to the InQubeta presale, despite cryptocurrency markets being bearish for the most part since the event started, is its link to artificial intelligence by creating a win-win situation for investors and AI startups.
Companies that help to push investments in the AI sector have enjoyed a significant increase in investment funds as investors rush to be part of what many – like President Joe Biden – are predicting will be the most significant technological breakthrough in the last several decades.
The viability of AI has increased exponentially in the past decade as concepts like vehicles with autonomous capabilities and AI like ChatGPT — that can perform various tasks almost as well as a human can — are developed. Automation will cause massive disruption worldwide, but it will also create many investment opportunities to earn substantial profits. InQubeta opens up access to such opportunities with its non-fungible token (NFT) marketplace.
How it works
Startups raise capital on the QUBE network by selling equity-based NFTs that are the blockchain version of stocks. $QUBE tokens are used to purchase them on the marketplace and are used to run the network. Rewards are sent out to stakers periodically.
Elon Musk’s entry into the AI industry will speed up the rate of innovation
Like him or not, Elon Musk is well-known for pushing innovation in the industries he targets. Tesla leads in producing electric and autonomous vehicles, while SpaceX has done more to push the space race than the U.S. government – or anyone else – has in decades.
Musk officially launching an AI company isn’t surprising, given how closely he already works with the technology. It’s one more sign that the AI revolution will shake up the world.
Dogecoin (DOGE) investors keep hope alive.
Dogecoin investors are hoping for a push from a celebrity like Musk to give token prices a boost. However, the unlimited supply of DOGE tokens and their limited utility will likely prevent prices from experiencing significant growth except when they’re being pumped.
Summary
The InQubeta presale allows investors to grow their capital by 300% and more once it ends. The project pushes innovations in the AI industry by getting startups the capital they need while making investment opportunities more accessible.
InQubeta prices are poised to grow significantly as the AI industry takes humanity into a new age.
Dogecoin Price Analysis: Analyst Maps Entry Levels For DOGE Price
In the last couple of months, Dogecoin has been on the rise, tracing an upward trajectory within a broader channel, signaling the potential for a significant surge in the weeks to come. As a popular meme coin, it now stands at a critical juncture, putting its mettle to the test as it confronts a major resistance downtrend line. Additionally, an intriguing “death cross” has emerged between the 50-week and 200-week Moving Averages (MA).
High Alert Situation
Crypto experts are closely observing the situation. Should the DOGE bulls succeed in breaking through the year-to-date (YTD) resistance line, there’s a growing belief that the altcoin could witness a remarkable rally, possibly surging past 16 cents. Conversely, if the persistent rejections persist, analysts speculate that the meme coin might revisit a crucial macro support level around $0.055.
Read More: Elon Musk Denies “X” Token Plans, Sends Dogecoin Price Soaring
Key Insights For You
For short-term crypto traders seeking quick gains, Poppe, a renowned analyst, has offered valuable insights into potential entry points for Dogecoin. According to Poppe, there’s a possibility that Dogecoin’s price could dip towards a significant supply and demand zone, hovering around $0.069 in the coming days.
In light of this price scenario, Poppe suggests that traders interested in long positions consider entering the market. It’s crucial to implement appropriate stop-loss measures while aiming for a target price of approximately 10 cents.
What Are the Caveats?
However, it’s important to note that this suggested price setup could lose validity if Dogecoin’s price continues to decline in subsequent days, especially after retesting the support level around $0.069. In such a scenario, the extent of the bearish pressure on Dogecoin will largely depend on the overall outlook of the altcoin market and the price movement of Bitcoin.
Related: Summer Showstopper: Dogecoin Steals the Spotlight with 10% Jump!
It’s worth highlighting that Dogecoin’s price action has displayed similarities with other medium-cap altcoins, despite its status as the leading meme coin. Various speculative factors have contributed to its price trajectory.
So, have you hopped on the Dogecoin train or are you still waiting for the perfect opportunity?
Alex The Doge (ALEX) Captured the attention of crypto enthusiasts
Introduction
In the ever-evolving world of cryptocurrencies, meme coins have emerged as a prominent and intriguing phenomenon. These digital assets, often characterized by their playful and humorous nature, have gained significant attention and investor interest. Also, these two meme coins that have made waves in the crypto space are Shiba Inu (SHIB) and Alex The Doge (ALEX). In this article, we will delve into the trajectories of these projects, their evolution within the crypto space, and the unique offerings they bring to the market.
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The Emergence of Alex The Doge (ALEX)
Another notable meme coin that has captured the attention of crypto enthusiasts is Alex The Doge (ALEX). The project takes inspiration from the Sega legend Alex The Kid and aims to combine the nostalgia of retro play-to-earn gaming with the opportunities provided by cryptocurrencies.
The project is Built on the Polygon blockchain for scalability, speed, and security. ALEX introduces the MiracleVerse, a digital gaming world where users can participate in play-to-earn gaming, DeFi activities, and social trading. Further, The project emphasizes the importance of the ALEX token as the lifeblood of its ecosystem. It allows users to earn rewards and engage with DeFi protocols.
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The Evolution of Shiba Inu
Since its inception, Shiba Inu (SHIB) has continued to evolve and expand its offerings within the crypto space. The project has sponsored major blockchain conferences, such as the Blockchain Futurist Conference, Eth Toronto, and Eth Women. Moreover, This sponsorship level has solidified Shiba Inu’s position as a significant player in the cryptocurrency industry, placing it alongside important exchanges and projects.
In addition to its sponsorship endeavours, Shiba Inu (SHIB) has been actively working on developing its ecosystem. The team has hinted at exciting announcements and upcoming releases, such as the completion of the Worldpaper, the reveal of SHIB-branded projects, and the discussion and potential release of the long-awaited L2 Shibarium.
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The Evolving Landscape of Meme Coins
Meme coins like Shiba Inu (SHIB) and Alex The Doge (ALEX) have asserted dominance in the crypto space. It’s attracting new investors and revolutionizing how people view and interact with cryptocurrencies. These projects have tapped into the power of community building, leveraging social media platforms to create dedicated communities and foster engagement.
The rise of meme coins also highlights the growing importance of social-fi, a fusion of social media and Web3. With the recent acquisition of Twitter by Elon Musk, interest in social fi has surged, and platforms like Alex The Doge (ALEX) are poised to capitalize on this trend. By integrating social trading groups and bridging the gap between diverse trading communities, Alex The Doge (ALEX) aims to provide a seamless and immersive experience for its users.
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Conclusion
As meme coins continue to make waves in the crypto space, projects like Shiba Inu (SHIB) and Alex The Doge (ALEX) offer unique opportunities for investors and enthusiasts. With their emphasis on play-to-earn gaming, decentralized ecosystems, and social-fi integration, these projects push the boundaries of what cryptocurrencies can achieve. In addition, As they evolve and expand their offerings, Shiba Inu (SHIB) and Alex The Doge (ALEX) are poised to leave a lasting impact on the market, attracting new investors and revolutionizing how we view and engage with cryptocurrencies.
For more information about Alex The Doge (ALEX) presale, use the links down below:
DOGE Price: Dogecoin’s Recent Uptrend Faces Challenges Amidst Growing Concerns
In the past few weeks, Dogecoin (DOGE) has experienced a notable uptrend. However, the momentum is anticipated to have hit a snag due to both technical and fundamental aspects. While the cryptocurrency market gears up for a fresh macro bullish season, concerns are arising over the meme coin industry’s reputation, following the collapse of BALD, which resulted in the loss of over $20 million of users’ liquidity.
Fundamental Concerns and Dogecoin’s Distinction
The collapse of BALD has put a dent in the reputation of meme coins. However, Dogecoin stands out from the questionable meme coins, thanks to its deep liquidity in various trading pairs, including WBNB, WETH, and USDT, across different centralized and decentralized exchanges. Furthermore, the support from Elon Musk’s family of businesses has been a driving force behind Dogecoin’s growth, as the second-largest Proof-of-Work blockchain now boasts a holder base of over 5.8 million users.
Technical Analysis Signals Critical Resistance
A technical analysis provided by Rekt Capital sheds light on Dogecoin’s current price action. The cryptocurrency is currently rejecting a crucial falling resistance level of around $0.077. Historical data reveals that the past three retests of this falling resistance line resulted in nosedives toward the lower borderline of the channel. As a result, if Dogecoin fails to break through this resistance level in the coming weeks, there is a potential risk of a nosedive toward the support level of around $0.055.
Potential Bullish Scenario
On the other hand, a breakout above the current resistance level could pave the way for Dogecoin’s price to surge above 15 cents. This could potentially signal the onset of a macro bull rally, which aligns with the cryptocurrency market’s nearing completion of its four-year cycle, indicating an impending bullish season.
Conclusion
Dogecoin’s recent uptrend faces challenges from both technical and fundamental aspects. The collapse of BALD has raised concerns about the meme coin industry’s reputation, but Dogecoin’s distinctive features and strong liquidity position it as a notable player. Traders and investors are closely monitoring the price action around the critical resistance level at $0.077, which could determine whether the meme lord experiences a nosedive or enters a macro bull rally in the coming weeks.
Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE
The post Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE appeared first on Coinpedia Fintech News
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day’s close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels. While some of the popular altcoins are displaying enough bullish momentum and appear to be waiting for the right time to trigger a breakout.
Cardano (ADA)
- The Cardano price continues to maintain a choppy upswing without major price variations, indicating the bulls hold their strength until the month end
- While the RSI is rising firmly towards overbought levels, which may lift the price towards $0.359 levels, enabling a further rise toward the first target at $0.45
- Therefore, the monthly analysis of ADA price remains bullish, while, the price could maintain a healthy upswing for the first few days of August or until the end of the week
Solana (SOL)
- After the Solana price rebounded from the lows in June, the token maintained a healthy upswing throughout July to mark the yearly high of around $32
- The trend has now regained within the bullish pattern and displays the probability of triggering a bullish breakout in the next few days
- However, the RSI and MACD continue to remain bearish which suggests, the Solana price may continue with a sideway trend for a while and with the flow of buying pressure, a decent upswing may be imminent.
Polkadot (DOT)
- Polkadot price has waned its popularity in recent times despite the price maintinag acute strength by trading within an ascending triangle forming constant higher highs and lows
- The trading volume maintains decent levels which suggest the bulls and bears are active, compelling the price to trade within a narrow region.
- As the RSI is trading flat MACD does not show signs of a bullish reversal due to which the DOT price may consolidate within an ascending triangle to reach the apex, which may be followed by a bullish breakout above $5.5
Terra LUNA Classic (LUNC)
- Terra LUNA classic was gaining some traction in recent days, while the price action remained largely sluggish.
- The volume also has dried up to a large extent which is majorly dominated by the bears but the ADX indicating the strength of the rally displays a bullish divergence. Hence, the LUNC price may maintain a sideway trend until it reaches the apex and undergoes a significant price action.
- While a breakout from the descending triangle results in a minor pullback, the LUNC price may marginally drop below the lower support, suggesting a correction, followed by a bullish breakout to reclaim the lost levels.
Dogecoin (DOGE)
- Being largely diverse from the other popular tokens in the market, the Dogecoin price has manifested acute strength, breaking above the descending triangle
- However, after lifting the price relatively high, the bulls appear to have exhausted themselves, which is now causing the DOGE price to face a minor pullback
- As the RSI is showing some signs of a plunge, it may drag the DOGE price lower towards the support zone which may trigger a healthy rebound towards the first target at $0.09.
Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE
The post Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE appeared first on Coinpedia Fintech News
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day’s close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels. While some of the popular altcoins are displaying enough bullish momentum and appear to be waiting for the right time to trigger a breakout.
Cardano (ADA)
- The Cardano price continues to maintain a choppy upswing without major price variations, indicating the bulls hold their strength until the month end
- While the RSI is rising firmly towards overbought levels, which may lift the price towards $0.359 levels, enabling a further rise toward the first target at $0.45
- Therefore, the monthly analysis of ADA price remains bullish, while, the price could maintain a healthy upswing for the first few days of August or until the end of the week
Solana (SOL)
- After the price rebounded from the lows in June, the token maintained a healthy upswing throughout July to mark the yearly highs of around $32
- The trend has now regained within the bullish pattern and displays the probability of triggering a bullish breakout in the next few days
- However, the RSI and MACD continue to remain bearish which suggests, the Solana price may continue with a sideway trend for a while, and with the flow of buying pressure, a decent upswing may be imminent.
Polkadot (DOT)
- Polkadot has waned its popularity in recent times despite the price maintaining acute strength by trading within an ascending triangle forming constant higher highs and lows
- The trading volume maintains decent levels which suggest the bulls and bears are active, compelling the price to trade within a narrow region.
- As the RSI is trading flat MACD does not show signs of a bullish reversal due to which the DOT price may consolidate within an ascending triangle to reach the apex, which may be followed by a bullish breakout above $5.5
Terra LUNA Classic (LUNC)
- Terra LUNA classic was gaining some traction in recent days, while the price action remained largely sluggish.
- The volume also has dried up to a large extent which is majorly dominated by the bears but the ADX indicating the strength of the rally displays a bullish divergence. Hence, the LUNC price may maintain a sideway trend until it reaches the apex and undergoes a significant price action.
- While a breakout from the descending triangle results in a minor pullback, the LUNC price may marginally drop below the lower support, suggesting a correction, followed by a bullish breakout to reclaim the lost levels.
Dogecoin (DOGE)
- Being largely diverse from the other popular tokens in the market, the Dogecoin price has manifested acute strength, breaking above the descending triangle
- However, after lifting the price relatively high, the bulls appear to have exhausted themselves, which is now causing the DOGE price to face a minor pullback
- As the RSI is showing some signs of a plunge, it may drag the DOGE price lower towards the support zone which may trigger a healthy rebound towards the first target at $0.09.
Dogecoin Social Dominance Holds Strong, What’s in Store for DOGE Price
Dogecoin (DOGE) has once again taken the crypto world by storm, surging an impressive 25% in just two weeks. The meme-inspired cryptocurrency has become the top performer among the leading 100 cryptocurrencies, boasting a remarkable 11% surge and reaching 8.2 cents. Notably, DOGE has gained ground not only against Bitcoin but also Ethereum, further solidifying its position in the market.
The excitement surrounding Dogecoin has been fueled by recent developments, including Elon Musk’s announcement about rebranding Twitter to x.com. As Musk’s support for the meme-based coin is well-known, the crypto community is buzzing with anticipation, speculating about potential implications for DOGE.
Crypto ZX, a popular source for cryptocurrency insights, has analyzed Dogecoin’s price chart and observed a significant upside movement. Currently approaching a critical resistance level at around nine cents, breaking through this barrier could set DOGE’s next target at ten cents. The surge in trading volume further indicates heightened buying pressure, potentially driving the price even higher.
Moreover, Santiment, an on-chain data agency, has added to the optimism surrounding DOGE by revealing that the average DOGE trader, active in the past year, is now making a 2.4% gain and is in profit for the first time in 12 weeks. This positive trend indicates increased confidence in the coin’s potential.
Despite the excitement, the DOGE social dominance indicator has not yet reached the dangerous “FOMO zone,” suggesting that there is still room for further upward movement. This indicator, coupled with the growing interest in Dogecoin worldwide, points to the possibility of even more gains in the future.
Currently approaching a market capitalization of $11.5 billion and a 24-hour trading volume nearing $2 billion, Dogecoin’s momentum shows no signs of slowing down. The cryptocurrency community eagerly awaits the next moves from Elon Musk and the potential impact it may have on this beloved meme coin.
DOGE Price : Dogecoin’s Remarkable Surge; Record Single-Day Gain in 4 Months
Dogecoin experienced a 10% surge on Tuesday, marking its most significant single-day gain since April 3, as reported by Binance data tracked through the charting platform TradingView. Over the past two weeks, the cryptocurrency has seen a 25% increase, with speculation revolving around its potential use as a payment mechanism on the rebranded Twitter platform.
As the overall crypto market enters the expected summer lull, some experts believe that DOGE could emerge as the standout performer during this period, while other crypto themes take a backseat. Markus Thielen, the head of research and strategy at Matrixport, mentioned Elon Musk’s involvement in reimagining Twitter as a potential driving force behind DOGE’s recent momentum.
DOGE Futures Open Interest tops $500 Million
This sentiment is further reflected in the perpetual futures market linked to DOGE, where the notional open interest, representing the dollar value locked in active perpetual futures contracts, has surpassed $500 million for the first time since April 19, according to data from Coinglass.
This figure has more than doubled in just two weeks, indicating a notable influx of new capital into the market and supporting the perception of an uptrend. The open interest in DOGE terms has reached 6.2 billion, nearing the peak of 6.43 billion observed on April 8.
Despite the positive momentum, recent data shows that open interest weighted-funding rates have declined to zero, suggesting a balance between bullish long and bearish short positions at the time of reporting.
Considering DOGE’s impressive performance in the market recently, some experts speculate that the cryptocurrency may experience a period of consolidation before resuming its bullish trend. Funding rates, which indicate the costs associated with holding long or short positions, currently indicate a mix of long and short positions.
Dogecoin Appears to be the Strongest Altcoin; Here’s When the DOGE Price May Reach $0.1
Dogecoin’s price continues to maintain a huge upswing, leading the list of top gainers after Maker (MKR). Ever since Elon Musk rebranded Twitter to X and mentioned X & D in his bio, the DOGE price spiked heavily and has continued to soar high until now. The price is displaying huge potential to maintain a fine upswing as the bullish momentum piles up. ]
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The price was undergoing a parabolic recovery and was expected to trade along the lower support to reach the neckline of the consolidation. However, the fresh bullish push is compelling the price to trigger a massive upswing, which may lift the price beyond the crucial resistance very soon. The buying pressure has significantly piled up, which may further strengthen the base required to trigger a bullish breakout.
The DOGE price rose above the bearish pattern and is currently heading towards its next target above $0.09. Now that the price is ranging high, it may secure the upper targets beyond $0.1 initially and head towards the next targets. Besides, the daily active address count had been soaring for over a month, indicating a new bullish wave could be on the horizon.
However, the rally also carries the possibility of a bearish pullback. The price may be bullish in the short term, but in the long term, it continues to consolidate within a bearish influence. The sideways price action is serving as the bull cycle’s accumulation phase before the final parabolic rally lift that could lead Dogecoin (DOGE) price towards a new ATH.