The price of Dogecoin is exhibiting a coiling pattern, indicating a potential movement towards the goal price of $0.100, which represents an estimated increase of 30% from its current valuation.
Although there exist several positive factors that support the upward movement of DOGE, it is important to acknowledge the presence of a supply barrier inside the price range of $0.076 and $0.080, which poses a significant challenge.
Confirmation of the continuance of the intermediate trend, so avoiding the bearish sentiment, would be established by a break and subsequent closure above the price level of $0.078.
The price surge of Dogecoin (DOGE) that started in mid-October has been noteworthy, propelling the meme currency with the highest market capitalization to heights not seen since August. Nevertheless, the potential for growth is currently at risk as the cryptocurrency encounters a significant obstacle in its supply, which will ultimately determine if DOGE achieves its aim of reaching $0.100 or not.
The upward trajectory of Dogecoin's price is currently facing potential challenges.
The price of Dogecoin (DOGE) is now exhibiting a positive trend, maintaining the upward trajectory that began on October 13th. The probability continues to be in favor of a positive outcome, except for the presence of a supply barrier ranging from $0.076 to $0.080. The present supply zone has a notable prevalence of assertive selling, indicating the potential for a price reversal until the impetus from buyers surpasses the prevailing selling pressure.
If there is a significant increase in purchasing pressure beyond the current levels, it is possible that the price of Dogecoin may enter the supply zone. The confirmation of the continuance of the daily uptrend (intermediate trend) in DOGE would be indicated by a decisive daily candlestick closure above the midline of this order block. If the price of the asset above the resistance level of $0.081 and maintains that position, it would indicate a bullish breakout in the supply zone, perhaps leading to further upward movement.
In an optimistic scenario, the price of Dogecoin has the potential to surpass the $0.085 threshold, followed by a potential move towards the psychological level of $0.090. The proposed action would result in an increase of 20% compared to the existing levels. In instances with significant ambition, the jump has the potential to extend towards the projected aim of $0.100, resulting in a 30% increase from the present value.
The Relative Strength Index (RSI) provides support for the current perspective, as its value of 63 indicates that there is still potential for further upward movement before the possibility of an overbought condition in DOGE becomes relevant.
Furthermore, it is worth noting that the Awesome Oscillator (AO) continues to maintain a predominantly positive position, exhibiting a consistent sequence of green histogram bars. This provides further evidence in support of the potential for increased positive outcomes.
The on-chain measurements of Dogecoin provide empirical evidence to substantiate a positive and optimistic perspective.
The behavior analytics platform Santiment presents many measures that support a positive mindset. To start, there is a notable rise in the amount of active stablecoin deposits and the market capitalization of Tether (USDT) stablecoin. This indicates an influx of new capital into the DOGE market. This phenomenon is further facilitated by the increasing open interest, as investors demonstrate a heightened inclination to capitalize on the potential gains associated with DOGE.

The prevalence of social dominance is increasing, evidenced by the growing proportion of DOGE mentions on social media platforms dedicated to cryptocurrency discussions, in comparison to a diverse selection of over 50 other cryptocurrencies.
Likewise, there is a discernible inclination among significant stakeholders to demonstrate interest in DOGE. There is an increasing trend in the volume of transactions using DOGE valued between $100,000 and $1,000,000. This development is expected to have a positive impact on the price of Dogecoin.

Significantly, there has been a notable growth in the volume of daily active addresses, indicating the quantity of distinct addresses engaged in daily transactions using DOGE. Given the increased level of audience engagement surrounding the meme cryptocurrency, it is anticipated that there will be a notable degree of volatility, with the likelihood of upward movement being more favorable.

On the other hand, in the event that the supply zone functions as a barrier of resistance, there is a possibility that the price of Dogecoin may decline, perhaps leading to a loss of support provided by the 200-day Exponential Moving Average (EMA) at a value of $0.068. In an extreme situation, it is possible for the decline to surpass the support level of $0.067 and subsequently evaluate the intersection of the 100-day and 50-day Exponential Moving Averages (EMA) at $0.066. The proposed action would indicate a decrease of 10% from the present values.
#DogeCoin #DogecoinPrice #elonMusk

Bitcoin, the original cryptocurrency, has been on a wild ride since its creation in 2009. Earlier this year, the price of one Bitcoin surged to over $60,000, an eightfold increase in 12 months. Then it fell to half that value in just a few weeks. Values of other cryptocurrencies such as Dogecoin have risen and fallen even more sharply, often based just on Elon Musk’s tweets. Even after the recent fall in their prices, the total market value of all cryptocurrencies now exceeds $1.5 trillion, a staggering amount for virtual objects that are nothing more than computer code.Are cryptocurrencies the wave of the future and should you be using and investing in them? And do the massive swings in their prices—nearly $1 trillion was wiped off their total value in May—portend trouble for the financial system?Bitcoin was created (by a person or group that remains unidentified to this day) as a way to conduct transactions without the intervention of a trusted third party, such as a central bank or financial institution. Its emergence amid the global financial crisis, which shook trust in banks and even governments, was perfectly timed. Bitcoin enabled transactions using only digital identities, granting users some degree of anonymity. This made Bitcoin the preferred currency for illicit activities, including recent ransomware attacks. It powered the shadowy darknet of illegal online commerce much like PayPal helped the rise of eBay by making payments easier.While Bitcoin’s roller-coaster prices garner attention, of far more consequence is the revolution in money and finance it has set off that will ultimately affect every one of us, for better and worse.As it grew in popularity, Bitcoin became cumbersome, slow, and expensive to use. It takes about 10 minutes to validate most transactions using the cryptocurrency and the transaction fee has been at a median of about $20 this year. Bitcoin’s unstable value has also made it an unviable medium of exchange. It is as though your $10 bill could buy you a beer on one day and a bottle of fine wine on another.Moreover, it has become clear that Bitcoin does not offer true anonymity. The government’s success in tracking and retrieving part of the Bitcoin ransom paid to the hacking collective DarkSide in the Colonial Pipeline ransomware attack has heightened doubts about the security and nontraceability of Bitcoin transactions.While Bitcoin has failed in its stated objectives, it has become a speculative investment. This is puzzling. It has no intrinsic value and is not backed by anything. Bitcoin devotees will tell you that, like gold, its value comes from its scarcity—Bitcoin’s computer algorithm mandates a fixed cap of 21 million digital coins (nearly 19 million have been created so far). But scarcity by itself can hardly be a source of value. Bitcoin investors seem to be relying on the greater fool theory—all you need to profit from an investment is to find someone willing to buy the asset at an even higher price.#Write2Earn #TrendingTopic #BTC #DogeCoin #ElonMuskTalks $BTC $DOGE

#LTC and #DOGE have seen spikes in user activity despite stagnation among major cryptos like Bitcoin.

Litecoin boasted 231K+ active addresses, while Dogecoin saw 46K, per blockchain analytics firm IntoTheBlock.

Experts say increased on-chain movements could indicate traders seeking short term altcoin gains amid sideways Bitcoin and Ethereum trading.

Recent data from blockchain analytics firm IntoTheBlock reveals that two altcoins, Litecoin (LTC) and Dogecoin (DOGE), have seen notable increases in on-chain activity, even as major cryptos like Bitcoin stagnate.

Specifically, Litecoin boasted 231,270 daily active addresses, while Dogecoin saw 46,080, according to IntoTheBlock’s metrics. The firm highlighted these unexpected upticks, noting both coins experienced significant spikes despite the wider market doldrums.

CoinGecko data shows Dogecoin trading at $0.064, with a 1.3% weekly gain. Litecoin stands at $64.77 after a minor 0.2% 24-hour dip, while still notching a 1.5% weekly rise. However, Litecoin’s monthly figure indicates a 22.0% decrease.

Additionally, perpetual futures contracts tied to Binance USD (BUSD) for Litecoin and Dogecoin have been removed from Binance, the leading cryptocurrency exchange.

Experts speculate the increased on-chain movements for Dogecoin and Litecoin may relate to traders seeking short-term gains via altcoins amid Bitcoin and Ethereum’s sideways trading. The data highlights the two meme-based coins’ enduring appeal among retail investors.

IntoTheBlock’s findings fly in the face of crypto sentiment indicators that point to waning interest in altcoins. For Dogecoin and Litecoin, reports of their demise may be exaggerated, as savvy users continue interacting with the chains. Still, their long-term outlook remains clouded amid market uncertainty.

#LiteCoin #DogeCoin $LTC $DOGE

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before investing in any cryptocurrency.

Dogecoin (DOGE) is contemplating a transformation in its consensus mechanism. 🔄🐶

The Dogecoin Foundation's roadmap outlines a collaboration between DOGE's core developers and Vitalik Buterin, the Ethereum (ETH) founder, who successfully transitioned Ethereum to a Proof of Stake (PoS) protocol last year. 🛠️🔗

The importance of integrating with online retailers is emphasized by the Dogecoin Foundation. 💼🌐

This initiative, known as 'Community Staking,' allows Dogecoin holders to earn rewards by staking their memecoin. 🥇🐶

Despite the commitment to decentralization, the exact launch date for this feature remains unspecified. 🗓️🚀

Seeking community input on Dogecoin staking, core developer Marshall Hayner conducted a poll on X (formerly Twitter). 📊📣

Initially, the poll leaned towards a "Yes" vote, reaching 69%. 🗳️✅

However, the final outcome surprised many: over 60% of the Dogecoin community expressed their disinterest in staking DOGE. ❌🤷‍♂️

In response, Mischa Boar, a chair member of the Dogecoin Foundation, raised concerns about the shift to PoS. 🤔🔄

While PoS is praised for its environmental friendliness, being about 99% greener than Proof of Work (PoW), other complexities such as centralization arise. ♻️🌍

Centralization in Dogecoin?

The risk of centralization emerges if a single entity or major corporation amasses nearly 50% of the stake, potentially leading to blockchain manipulation. 🔄🔗🤖

According to the Crypto Carbon Ratings Institute, Ethereum's energy consumption plunged by 99.99% after adopting PoS. ⚡🔄

However, these gains are shadowed by concerns over centralization, market manipulation, and regulatory uncertainties. 🤝📉❗

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before investing in any cryptocurrency.

#DogeCoin $DOGE

Bitcoin halving

#Bitcoin halving is an event that occurs approximately every four years in the Bitcoin network. It is a pre-programmed adjustment to the Bitcoin protocol that reduces the rate at which new Bitcoins are created and introduced into circulation.

During a Bitcoin halving, the number of new Bitcoins generated as a reward for mining a new block is halved. The initial block reward started at 50 Bitcoins when Bitcoin was launched in 2009. The first halving occurred in 2012, reducing the block reward to 25 Bitcoins. The second halving occurred in 2016, reducing the reward to 12.5 Bitcoins, and the most recent halving took place in May 2020, reducing the reward to 6.25 Bitcoins.

The purpose of the halving is to control the supply of new Bitcoins and create scarcity over time. By reducing the rate of new supply, it is believed to contribute to Bitcoin's deflationary nature and potentially impact its price dynamics. The idea behind this design choice is to mimic the scarcity of precious metals like gold, where the supply is limited and becomes increasingly difficult to mine over time.

Bitcoin halvings are highly anticipated events within the cryptocurrency community, as they can have significant effects on the supply and demand dynamics of Bitcoin. Some speculators and investors believe that the reduction in newly minted Bitcoins could lead to increased scarcity and potentially drive up the price of Bitcoin in the long term. However, it's important to note that the price of Bitcoin is influenced by various factors, and the halving is just one aspect that can impact its value.

#cryptocurrency #crypto #Ethereum #DogeCoin