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The current environment suggests that Dogecoin is likely to continue ranging below $0.50 in the near term. However, if bulls can muster the strength to break above this critical level and sustain it for a few days, a massive breakout could be on the horizon. Breaking and holding above $0.50 would likely signal renewed buying interest, setting the stage for a strong rally. The bullish market conditions driving other major cryptocurrencies could also work in Dogecoin’s favor, provided that overall sentiment continues to improve. Still, traders should watch for clear confirmation of a breakout before expecting significant price movements. A failure to break and hold above the $0.50 level could result in prolonged consolidation, delaying any meaningful upward momentum. For now, all eyes are on whether DOGE can capitalize on the broader market’s optimism and make a decisive move toward higher price targets.
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However, the dynamics of meme coin markets suggest caution. Santiment’s analysis shows that when social dominance for these tokens spikes significantly, it often signals a market top. Whales typically capitalize on heightened retail enthusiasm, offloading their holdings at inflated prices. This pattern frequently results in a sharp retrace as prices correct following the sell-off. Santiment also shared a comparative chart tracking social dominance across these meme coins, highlighting past instances where peaks in attention preceded pullbacks. For Dogecoin, maintaining its current momentum while avoiding overbought conditions will be critical to sustaining its rally. Price Testing Fresh Supply Dogecoin (DOGE) is currently trading at $0.46, following a failed attempt to break decisively above the $0.48 level. The price remains in a consolidation phase, struggling to build enough momentum to push beyond the psychological $0.50 mark. Despite this, the broader market sentiment remains bullish, offering a supportive backdrop for potential price advances.
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#ETH Pseudonymous crypto trader Pentoshi said in a Dec. 9 X post to his 830,900 followers that Ether “is having structural changes as well as the beginning of consistent and large ETF flows.” Pentoshi highlighted that Ether had its “highest weekly close of the year” and echoed Adams’ sentiment, suggesting a retest of its all-time high could happen sooner than many traders anticipate. “There is not much resistance from here to ATH, which should act as a magnet. Above that is clear skies,” Pentoshi said. Pseudonymous crypto trader Poseidon said there may be significant gains that Ether market participants aren’t expecting. Ether recently touched $4K for the first time in 9 months “ETH is about to break out of its 4-year, 1,460-day range to the upside. Much higher, far beyond your worst nightmares,” Poseidon said in a Dec. 9 X post. It comes only days after Ether broke past the $4,000 price level for the first time since March 2024. Analysts have recently predicted that Ether’s underperformance against Bitcoin may be coming to an end. “I think the ETH/BTC collapse is over (or nearly over), and it should go higher over the next 6-12 months,” Into The Cryptoverse founder Benjamin Cowen said on Dec. 4. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Expert Explains Why Martial Law Threw South Korea’s Crypto Markets into Chaos
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Bitcoin (BTC) Can't Break $100,000, Dogecoin (DOGE) Can Sniff $0.5, Did Shiba Inu (SHIB) Form Hidden Cup and Handle Pattern?
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