#Write2Earn‬ #TrendigTopic #DogecoinUpdate Dogecoin has once again caught the attention of crypto investors as familiar patterns reminiscent of its 2020 rally emerge. Crypto analyst Ali Martinez has pointed out these significant trends, suggesting a possible parabolic surge. 2020 proved to be a groundbreaking year for Dogecoin, marked by a setup that paved the way for one of the most remarkable rallies in crypto history. This year also shares similarities with 2024, as both witnessed the Bitcoin halving, contributing to a bullish sentiment in the space.The current trajectory of Dogecoin appears to mirror that of 2020, with Martinez highlighting the formation of a bullish descending triangle. Similar to the previous cycle, where a descending triangle preceded a substantial rally, Dogecoin has been forming a comparable pattern from 2021 to 2024, reaching a potential turning point.Martinez's analysis suggests that Dogecoin may be on the verge of another significant rally. While it may not reach the staggering 28,000% surge seen before, the implications remain significant. Martinez sets a target for Dogecoin as high as $10 if historical patterns repeat.However, concerns loom regarding Dogecoin's inflationary nature. Unlike Bitcoin, Dogecoin lacks a supply cap, leading to substantial growth in its supply over the past few years. This expansion could potentially impede its ability to rally, as demonstrated by its market cap growth since 2021.Nevertheless, optimism surrounding Dogecoin remains buoyant, buoyed by continued support from influential figures like Elon Musk and its robust community. With these factors in play, Dogecoin is poised for another notable performance in the ongoing bull market. *[Source: Ali_charts on X; Featured image from Crypto Potato, chart from Tradingview.com]*$DOGE

Since yesterday, the price of Dogecoin has gone up about 10%. However, there are a lot of long positions on the futures market, which is something to keep an eye on.
After the rally, the dogecoin funding rate returns to very high levels.
Santiment, an on-chain analytics company, said that buyers of DOGE are betting that the price will keep going up because long bets are being started on the futures market.
The important number here is the "Binance funding rate," which shows how much Dogecoin futures contract users on Binance are trading with each other right now in terms of fees.
If this measure is positive, it means that investors who are long are paying more than investors who are short to keep their investments. A trend like this means that most people in the market are optimistic.
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On the other hand, negative numbers show that people are generally bearish in the sector, since there are more short DOGE buyers than long ones right now.
Here is a graph that shows how the Dogecoin Binance funding rate has changed over the last month:
Based on the image above, the Dogecoin funding rate on Binance has recently become very positive since the price of the joke coin has gone up again.
Because of this, traders have jumped at the chance and are hoping that the price rise will continue. As more people bought futures contracts during this recent craze, the price of the asset kept going up, which suggests that these traders' bets have so far paid off.
However, if we look at the past, we can see that $DOGE has not done well when the market was heavily dominated for a long time. As you can see from the image, the last few weeks have seen similar jumps in the Binance funding rate and local highs in the cryptocurrency.
One reason for this trend might be that as more long bets are taken in the futures market, the chances of a long squeeze growing.
A "squeeze" is when a quick change in price causes a lot of people to sell their assets in a short amount of time. This chain of sales only makes the swing bigger, which either makes the rise or crash last longer, based on which side of the market is being hit the hardest.
Read also: Exchange Inflows Hit $1.2 Billion In The Last Month, A Bearish Sign for Bitcoin
When there are a lot of longs, it is easier for them to handle a flood of liquidations than it is for shorts. So, even though Dogecoin is currently moving quickly, any drop in price could cause a long squeeze, which could cause the asset to experience a big loss.
#Doge🦊 #DogecoinPrice #DogecoinUpdate

In a surprising turn of events, doggy-themed meme coin Dogecoin (DOGE) marked its 10th birthday today with a double-digit rally that pushed its price past the coveted $0.10 milestone — a level last seen a year ago.
DOGE is presently changing hands for $0.103061, up 15.4% for the past 24 hours, as altcoins benefit from Bitcoin’s recent rapid rally. Originally conceived as a joke by software engineers Billy Markus and Jackson Palmer in 2013, Dogecoin has become a serious proposition after establishing a legitimate reputation.
SpaceX/Tesla CEO Elon Musk is among Dogecoin fans and has called it his favorite crypto. He even stood in as its pretend CEO a few years ago. Moreover, DOGE hit an all-time high of $0.73 in May 2021 in the run-up to Musk’s appearance on Saturday Night Live.
Dogecoin has been on traders’ radar recently following positive fundamental developments in the asset’s ecosystem. Dogecoin developers revealed in November that a physical dogecoin could reach Earth’s moon this month in a space payload mission orchestrated by Pittsburg-based firm Astrobotic. 
Further, the Doge-1 satellite funded by Dogecoin, is now expected to launch in January 2024 after receiving approval from the National Telecommunications and Information Administration (NTIA). The satellite will be launched aboard Musk’s SpaceX Falcon 9 rocket. 
These developments coincided with Dogecoin’s recent spike in its number of wallets. As reported by ZyCrypto, the total number of addresses holding DOGE recently crossed the 5 million mark owing to the growing adoption of the meme-inspired cryptocurrency in recent weeks.
What’s Next?
Widely-followed crypto commentator Crypto Tony observed that Dogecoin is currently seeing lovely pumps, noting that this is only the beginning. He went on to applaud those who invested in DOGE during its lows.
Despite DOGE’s latest bullish price movement, the token still has a long way to go before reclaiming its $0.73 all-time high.
Since Dogecoin has a history of moving based on what Musk says or does, the DogeArmy will be eagerly waiting to see whether Dogefather Musk posts a birthday message that sends the price of the token to the moon.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#DogecoinUpdate #DOGEPrice $DOGE

The launch of the SpaceX mission 'Doge-1' to the Moon, funded by Dogecoin, moves a step closer to reality.DOGE experiences a significant surge, surpassing the $0.0750 mark against the USD.The current recovery could persist as long as the recently established support trendline remains unbroken.According to Coingabbar Price Analysis, For close to two years, the price of DOGE has followed a horizontal trend shaped by a symmetrical triangle.In the midst of this consolidation, Dogecoin has exhibited conformity to a triangle pattern and a newly formed ascending support trendline, potentially impacting the upcoming trend.The DOGE Coin price is situated above crucial EMAs (20, 50, 100, and 200), signifying the existence of a short-term recovery.As a result, the ascending price is anticipated to increase by approximately 5.50% before facing resistance at the upper trendline of a well-established triangle pattern, near the $0.086 threshold.Despite the general upward trajectory, DOGE encounters heightened volatility, resulting in multiple retracement phases.
KEY LEVELS :
RESISTANCE LEVEL : $0.08400-$0.08800
SUPPORT LEVEL : $0.07900-$0.07600
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
#BinanceTournament #Doge🦊 #dyor #crypto2023 #DogecoinUpdate $DOGE