#Dogecoin (DOGE), the prominent memecoin, has exhibited a correlation with the overall emotion prevailing in the cryptocurrency market, as it surpasses a crucial threshold. The coin saw selling pressure on shorter timescales, nevertheless, it appears to be positioned for potential more gains.
At the time of composing this text, the trading value of Dogecoin (DOGE) is at $0.078, reflecting a 1% decline over the past 24-hour period. During the preceding week, the memecoin exhibited a 6% increase in earnings, positioning itself as one of the leading performers among the top 10 cryptocurrencies based on market capitalization.
Is Dogecoin projected to reach a value of $0.10? The analyst presents a positive argument.
As previously indicated, the Dogecoin rise encountered obstacles during today's trading session, resulting in the price falling below the significant threshold of $0.08. According to Crypto trader Rekt Capital, the current price movement has provided confirmation of a positive trajectory for the cryptocurrency.
The above chart illustrates the trajectory of Dogecoin, indicating its movement from its lowest point of the year at $0.052 over the months of October and November. As the bullish momentum gained strength, the cryptocurrency successfully breached its falling channel, indicating a trajectory towards the price level over $0.11, which was last observed in the year 2022.
An further analysis conducted by a cryptocurrency trader examines the performance of Dogecoin during extended periods. The token is nearing the culmination of a significant surge in value relative to its Bitcoin (BTC) trading counterpart in the foreseeable future.
The researcher presents a range of favorable factors for Dogecoin, including as its scalability and transactions characterized by "low energy consumption." In reference to the above chart and with regard to the moving average convergence/divergence (MACD) indicator, the analyst made the following statement:

Bullish patterns and indications have been identified in the higher timeframes of the trading pair between DOGE and BTC. It is worth mentioning that there is a discernible falling wedge pattern observed within the 4-day period, coinciding with a bullish crossing in the Moving Average Convergence Divergence (MACD) indicator.
The potential for $DOGE to regain its previous high levels versus its Bitcoin and USDT trading pairings in 2022 and 2021 has yet to be determined. The present state of the cryptocurrency market exhibits a persistent upward trend, however there has been a rise in selling activity, maybe instigated by speculators capitalizing on the current price levels to realize gains.
#DOGEProjections #DogecoinPrice

The price of Dogecoin (DOGE) experienced a significant increase on Wednesday, reaching a three-month high of $0.076. This surge in value resulted in a 23% gain over the course of the past 30 days. The research conducted on the blockchain explores the potential impact of increasing market demand on the price movement of DOGE in the upcoming days.
The price of Dogecoin has seen significant growth in the meme coin market this week, surpassing other popular meme coins such as PEPE and Shiba Inu (SHIB) in terms of gains. Is it possible for the bulls to continue the upward trend and reach the challenging $0.1 threshold?
In the past 30 days, there has been a significant investment of $2 billion by a prominent investor in Dogecoin (DOGE), resulting in a notable impact on its price.
In recent weeks, there has been a notable shift in the focus of crypto whale investors towards the joke coin markets, resulting in significant benefits for Dogecoin. Based on the data provided by IntoTheBlock, there has been a notable increase in the amount of DOGE coins held in custody by individuals classified as whales, who own a minimum of $100,000 worth of DOGE. Specifically, the observed increase in holdings has risen from $7.65 billion to $9.35 billion throughout the timeframe spanning from October 8th to the present. This suggests that there has been a notable surge in investment by crypto whales, amounting to a substantial rise of $1.7 billion within the span of one month.
The Whale Balances Chart is a tool that monitors and records the dynamic fluctuations in the quantity of coins held by significant institutional investors in real-time. The shown trend line above provides a visual representation of the significant growth in the whales' holdings, amounting to $1.7 billion, over the course of the previous month.

The substantial rise in the holdings of whales is commonly regarded as a strong indication of the high level of trust that major institutional investors have in the future price prospects of DOGE.
Retail market participants have also begun the process of purchasing.
Furthermore, alongside the increasing demand for whales, the retail market for Dogecoin has now exceeded the quantity of purchase orders on the spot markets. According to the aggregated order books data obtained from 10 cryptocurrency exchanges, such as Binance and Coinbase, it has been seen that the bullish market participants have actively placed orders to purchase about 872,000 units of DOGE at prices now prevailing in the market. In the meanwhile, the traders have exclusively offered a cumulative amount of 810 million DOGE for purchase.

The graphic of aggregate order books provides a comprehensive overview of the current purchase and sell orders posted by traders on several centralized cryptocurrency exchanges. In instances where the quantity of buy-orders above that of sell-orders, as seen above, it indicates a prevailing purchasing trend within the Dogecoin markets.
Therefore, given the limited supply of DOGE coins in comparison to the existing demand, purchasers may be required to raise their bids in order to promptly fulfill their purchases. There is a possibility that this might unintentionally result in an increase in the value of DOGE, pushing it closer to the $0.1 threshold during the upcoming week.
Doge Price Projection: Progress towards $0.1?
The aforementioned analysis of on-chain statistics indicates that the prevailing investor opinion towards $DOGE is predominantly optimistic.
The projection is further supported by the Global In/Out of the Money data, which serves as an on-chain depiction of the past buying patterns of Dogecoin holders. The analysis indicates that the $0.081 level is a prominent resistance point for the DOGE price.
As seen in the following data, a total of 740,950 addresses made purchases of 18.05 billion DOGE at the highest recorded price of $0.081. The premature liquidation of their positions has the potential to trigger an untimely retraction in the price of Dogecoin.
However, in the event that influential investors in the cryptocurrency market continue to acquire substantial amounts of Dogecoin, there is a possibility that the price surge might perhaps reach the projected value of $0.1.

On the other hand, the bears have the potential to challenge the aforementioned prognosis in the event that the price of Dogecoin falls below the threshold of $0.050. However, it is anticipated that the support level at $0.065 would be a significant challenge in this scenario.
The provided figure illustrates that there are presently 436,210 addresses that own a total of 14.96 billion DOGE, which were acquired at the highest price point of $0.066. By maintaining their HODLing strategy, it is probable that they will mitigate the occurrence of a significant decline in the price of DOGE.

#DOGEProjections #DOGEWhale #crypto2023

Supporters of Dogecoin are currently expressing their jubilation at a notable surge of 35% in value witnessed over the course of the previous month. Although the mentioned development is really positive, it is worth noting that other cryptocurrencies such as Solana, Chainlink, and Cardano (ADA) have exhibited superior performance during the corresponding period, with respective rises of 170%, 118%, and 55%.
Based on the analysis of a cryptocurrency expert, it is argued that the upward momentum of DOGE has not yet concluded, as the current price movement indicates that the cryptocurrency is approaching a potentially favorable breakout.
A crypto analyst has verified the occurrence of a breakout in Dogecoin.
According to crypto researcher Rekt Capital, Dogecoin has successfully surpassed a falling channel pattern. The confirmation of this statement was made by the analyst in a recent post on the social media site X. Rekt Capital has been diligently monitoring the meme token through a sequence of postings inside a thread since August, providing periodic updates about its price fluctuations on a 1-week DOGE/USD chart.
An analysis of the price movement depicted on the chart reveals that Dogecoin has exhibited a descending trend from the last quarter of 2022. Subsequently, DOGE has exhibited a pattern of declining peaks and troughs within the confines of the trendlines, signifying the prevailing dominance of bearish sentiment in the market. However, a shift in the situation occurred in mid-October, and a significant breakthrough beyond the upper boundary of the channel became evident.
As of the present moment, the meme token has exhibited a sequence of four consecutive bullish candles subsequent to its recovery from the lower boundary of the channel. Rekt Capital has previously stressed the significance of a weekly close above the channel as it would solidify a change in trend. This is due to the observation that, in the last year, the cryptocurrency has only exhibited deceptive wicks at this particular juncture. The confirmation of a breakthrough over the resistance trendline has been established subsequent to a brief retest.
What are the future prospects for Doge?
According to Rekt Capital's prior research, the price increase is projected to occur if there is a significant breakout above the maximum high of the channel, namely at a value somewhat above $0.15. The current trade price of Dogecoin is at $0.07827, exhibiting a notable increase of 39% from reaching its lowest point in October. A potential increase to $0.15 would signify a growth of more than 90% relative to its present value, and a growth of 163% compared to its lowest point in October.
DOGE finally broke over the $0.076 level a few days ago as whales worked tirelessly to push the meme coin to a rally. According to statistics provided by IntoTheBlock, it has been seen that a substantial amount of capital, above $2 billion, has been infused into the cryptocurrency known as DOGE within a span of 30 days. The prevalence of social dominance is also increasing inside the realm of social media, so suggesting a prevailing optimistic feeling in the near future. The unnamed crypto expert, Kaleo, says that a more robust rise will ensue if DOGE surpasses the $0.08 threshold.
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