LIVEDogecoin Price Prediction: $800 Million Trading Volume Sends #DOGE green - Are Whales Awakening?
The newest Dogecoin price forecast shows a 2.75% gain to $0.150180 due to a $800 million 24-hour trading volume.
As this meme-inspired cryptocurrency ranks 8th on CoinMarketCap with a $21.64 billion market cap, market analysts anticipate on large-scale investment moves.
Dogecoin Leads Crypto Surge as Market Expects Major Changes
Bitcoin has risen 350% from $15,000 to $2.5 trillion, while Dogecoin, Ethereum, and XRP have grown significantly in the last year. This rise might alter cryptocurrencies this week, particularly with recent market moves and strategic remarks from key players.
Tesla CEO Elon Musk, who helped popularize Dogecoin, returned to the cryptocurrency conversation.
Musk's X executive revealed payment system intentions that might affect Dogecoin's value and place in the crypto market.
Trading for Dogecoin today centers around $0.1510. Dogecoin may rise if it stays over this pivot point. However, resistance levels around $0.1641, $0.1756, and $0.1848 must be broken for continuing growth.
Further support is available at $0.1427, $0.1339, and $0.1241, if selling pressure increases.
Bearish technical indications are there for Dogecoin. The Relative Strength Index (RSI) is 47, showing neutral but negative sentiment as it is below 50.
Additionally, the 50-Day Exponential Moving Average (EMA) is $0.1532, significantly above the current price, indicating a negative outlook.
A bearish engulfing candlestick formation below $0.1510 on the 4-hour chart adds to the gloomy attitude. Traders are wary due to this trend, which might predict future drops.
Below the $0.1510 pivot mark, technical indications and price patterns imply Dogecoin will fall. Failure to retake this level might put selling pressure on immediate support levels.
If Dogecoin breaks over $0.1510, it might end the gloomy trend and challenge higher resistance levels.