Dogecoin Price Flashes Bullish Pennant

Trader Tardigrade revealed in an X post that the Dogecoin price has reached the tip of a bullish pennant on the daily Heikin Ashi chart. With this occurrence, the analyst claimed a breakout was just around the corner. He added that an “easy target�?measured from the pennant pole is $0.18. 

The analyst’s accompanying chart showed that the Dogecoin price could reach this target before the month ends. DOGE has already enjoyed a massive uptrend this month as CryptoRank data shows that the foremost meme coin is up over 22% in October, a monthly performance that has only been topped this year by its price gains in February and March. 

However, a rise to $0.18 this month would match October’s price gains with those recorded in February, when DOGE enjoyed a monthly return of 50%. In March, the Dogecoin price recorded a gain of 87% as it rose to a yearly high of $0.22. 

The Dogecoin price uptrend this month is expected to extend until year-end and even continue in the new year, as crypto analyst Dima James said the price recovery trend will continue into 2025. Interestingly, the analyst predicted that DOGE could rally to as high as $10 and surpass it sometime next year. He made this prediction based on the 2021 bull pattern, which he claimed the meme coin is replicating again. 

Meanwhile, Trader Tardigrade recently mentioned that the Dogecoin price had replicated a ‘Reversal box�?move from the 2021 bull run. Because of this pattern, the analyst predicted that DOGE could reach $3.7 next year. 

The Run To A New All-Time High Of $3

Crypto analyst KrissPax has provided insights into how the Dogecoin price could run to this new all-time high (ATH) of $3. Using the law of diminishing returns, the analyst mentioned that he sees a resistance at $0.22, which, if DOGE breaks above, would send its price to $0.35, another resistance level. 

He claimed that a successful break above that resistance level would send the Dogecoin price to its current ATH of $0.73. Once that is done, KrissPax predicts that the foremost meme coin will run to a new ATH at around $3 in 2025. In the meantime, DOGE needs to clear the $0.14 resistance, with a successful breakout possibly leading to the rally to $0.20. 

At the time of writing, the Dogecoin price is trading at around $0.138, down in the last 24 hours, according to data from CoinMarketCap. 

Dogecoin Risk Indicator Has Given A Red Signal Recently

In a new post on X, CryptoQuant community manager Maartunn has shared a “Risk Indicator” for Dogecoin. As for what the metric does, the analyst has explained,

I calculated the percentage change over the last 168 hours (one week). When the percentage change exceeds a specific threshold, it indicates a potential risk zone.

The risk here is toward Bitcoin and since the rest of the sector usually follows in its lead, it would also be toward cryptocurrencies as a whole. Below is the chart for the indicator posted by Maartunn.

As is visible in the above graph, the Dogecoin Risk Indicator has been giving a signal during the past week or so as the DOGE price has registered a notable jump of 16%

From the graph, it’s also apparent that each time the indicator has lit up in the past few months, the price of Bitcoin has probably hit some top.

Indeed, since the latest signal has appeared, the BTC rally has been derailed, which implies fast growth in the memecoin’s price may once again have proven to be a bad omen for the sector.

Now, why does this pattern exist? The reason is that whenever memecoins break away from Bitcoin and the company, it’s usually a sign that greed is taking over the market.

Historically, cryptocurrencies have tended to move in the direction that the crowd expects, so excessive greed often leads to a bearish outcome.

Investors have recently been speculating on memecoins like Dogecoin, seeking fast returns. Still, if this previous pattern is to go by, DOGE and others may have to slow down if the market has to continue its uplift.

In some other news, the market intelligence platform IntoTheBlock has shared an update on how the average holding time compares between the major cryptocurrency networks in an X post.

As displayed in the above table, Bitcoin is leading in this metric, with cryptocurrency investors holding for an average period of 4.4 years before transferring their coins.

Ethereum, Dogecoin, and Shiba Inu are all tied for second, with the figure at 2.4 years for each. Thus, while the memecoins do get a lot of speculative activity, they have still managed to establish a userbase that’s as stubborn as that of Ethereum.

DOGE Price

The Dogecoin rally has slowed in the last few days as the coin’s price is still trading around $0.142.

• DOGE price started a downside correction from the $0.1500 resistance level.
• The price is trading below the $0.1420 level and the 100-hourly simple moving average.
• There is a key bearish trend line forming with resistance at $0.1425 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could gain bullish momentum if it clears the $0.1425 and $0.1450 resistance levels.

Dogecoin Price Eyes Upside Break

Dogecoin price started a downside correction from the $0.1500 resistance zone. DOGE dipped below $0.1450 and $0.1420 levels. A low was formed at $0.1330 and the price is now recovering losses like Bitcoin and Ethereum.

There was also a move above the $0.1350 and $0.1380 resistance levels. The price surpassed the 50% Fib retracement level of the downward move from the $0.1482 swing high to the $0.1330 low. However, the bears are active near the $0.1425 resistance zone.

There is also a key bearish trend line forming with resistance at $0.1425 on the hourly chart of the DOGE/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $0.1482 swing high to the $0.1330 low.

Dogecoin price is now trading below the $0.1420 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1425 level. The next major resistance is near the $0.1450 level.

A close above the $0.1450 resistance might send the price toward the $0.1500 resistance. Any more gains might send the price toward the $0.1550 level. The next major stop for the bulls might be $0.1585.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.1425 level, it could start another decline. Initial support on the downside is near the $0.1365 level. The next major support is near the $0.1350 level.

The main support sits at $0.1320. If there is a downside break below the $0.1320 support, the price could decline further. In the stated case, the price might decline toward the $0.1250 level or even $0.1220 in the near term.

Technical Indicators

Hourly MACD �?The MACD for DOGE/USD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) �?The RSI for DOGE/USD is now near the 50 level.

Major Support Levels �?$0.1365 and $0.1320.

Major Resistance Levels �?$0.1425 and $0.1450.

Some believe DOGE is gearing up for a massive rally, driven by renewed interest and momentum. In contrast, others are more skeptical, suggesting that the meme coin may be entering a consolidation phase.

Top crypto analyst Bluntz recently shared a technical analysis on Dogecoin, highlighting its price fluctuated within a 4-hour range. According to Bluntz, the price has taken both sides of this range, resulting in a classic liquidity sweep, a move often seen before a major price shift. 

As Dogecoin remains in this volatile environment, market participants are keenly awaiting further signs to determine whether the next move will be an upward rally or a consolidation period.

Dogecoin Testing Crucial Liquidity

Following recent price movements, Dogecoin is testing crucial liquidity levels, both on the supply and demand sides. Volatility has gripped the market, and uncertainty is leading to growing fear among investors, many of whom anticipate a DOGE rally in the coming weeks. Top crypto analyst Bluntz recently shared a technical analysis on X, highlighting the 4-hour Dogecoin chart showing a clear trading range between $0.15 and $0.133.

Bluntz notes that price action has swept both sides of this range—first the highs, then the lows—before being reclaimed, often indicating a liquidity sweep. This type of price movement is often seen before a larger, directional move, and Bluntz suggests it could create a bullish scenario for DOGE shortly.

He believes that once Dogecoin decisively breaks above this established range, a massive rally will likely follow, potentially taking DOGE to new highs.

However, while Bluntz’s bullish perspective offers hope for investors, Dogecoin’s current volatility and market uncertainty could still lead to sideways trading before any significant breakout occurs. Investors are watching closely for a break of the $0.15 level, which could signal the start of the anticipated upward move.

DOGE Holding Above $0.12

Dogecoin (DOGE) trades at $0.136 after five days of heightened volatility and uncertainty. Over the past two weeks, the price surged, and it is now holding above the crucial $0.12 mark, which acted as a strong resistance level in September and has since transformed into a key demand level. This price point is pivotal, as holding above could signal further bullish momentum.

The daily 200 moving average at $0.128 is another critical support level for Dogecoin. Maintaining strength above this moving average would suggest long-term stability and the potential for DOGE to push toward higher supply levels. However, if the price falls below this level, it could trigger a retrace, causing the recent rally to resemble a short-term “pump and dump” scenario.

If Dogecoin successfully holds above the $0.12 area, a healthy consolidation phase could unfold, setting the stage for a continued uptrend. Investors will closely monitor this level to determine whether the recent price action can maintain its momentum or if further downside is on the horizon.

Featured image from Dall-E, chart from TradingView

Dogecoin & Apecoin Are Among Memecoins That Fell Prey To FOMO Recently

As explained by Santiment in a new post on X, the Positive Sentiment vs. Negative Sentiment Ratio has seen a spike for Dogecoin and other memecoins recently.

The “Positive Sentiment vs. Negative Sentiment Ratio” here refers to an indicator that tells us whether major social media platforms are leaning towards positive or negative comments right now.

This indicator makes use of a machine-learning model designed by the analytics firm to separate between comments pertaining to negative and positive sentiments.

When the value of the metric is greater than zero, it means the total number of positive posts/threads/messages is outweighing that of the negative ones. On the other hand, the indicator being under this threshold suggests the dominance of bearish sentiment on social media.

Now, here is the chart shared by Santiment that shows the trend in this indicator for four assets over the past few months:

As displayed in the above graph, Dogecoin and Apecoin both witnessed spikes in the Positive Sentiment vs. Negative Sentiment Ratio recently, implying a large amount of positive comments related to these coins were made on social media.

Interestingly, as the analytics firm has pointed out, these spikes coincided with tops in the DOGE and APE prices. The other two memecoins listed in the chart, GIGA and GOAT, also witnessed a similar pattern, although their tops came before that of the former two.

While positive sentiment can suggest belief in the market, a large amount of it can be an indication of excessive hype, which is something that has historically led to tops for not just memecoins but cryptocurrencies in general.

“Prices typically always go the opposite direction of the crowd’s expectations, and when the crowd gets extreme on either the bullish or bearish end, it becomes highly predictable to buy or sell,” explains Santiment.

Given the timing of the recent positive spikes in the indicator, it would appear possible that the Fear Of Missing Out (FOMO) that developed among the investors was the reason behind the corrections that Dogecoin and others have faced.

The Positive Sentiment vs. Negative Sentiment Ratio could now be to watch in the coming days, as any cooldowns in its value could pave way for bullish momentum to restart for these coins.

DOGE Price

Dogecoin had neared the $0.150 level a few days ago, but with the correction that has followed since then, its price has retraced back to the $0.136 mark.

Dogecoin Price To See Massive 5,202% Pump

A crypto analyst identified as ‘Zero�?on X (formerly Twitter) has expressed excitement about an incoming price pump for Dogecoin. The analyst suggested via his post that the Dogecoin price looks ready for a major rally, likely due to favorable market conditions and key technical indicators. 

Sharing a historical chart illustrating the DOGE price movements from as far back as 2014, Zero pinpointed periods when the Dogecoin price experienced massive rallies, specifically during the bull run that followed each Bitcoin halving event. 

From 2017 to 2018, the analyst disclosed that the price of Dogecoin had skyrocketed by 9,226.49%. After experiencing a bear market and a prolonged period of price fluctuations, the meme coin witnessed another massive surge between 2020 and 2021. At the time, Dogecoin had recorded a whopping 30,693.75% price increase, leading to its current all-time high of $0.74.

Based on these bullish trends, Zero has predicted that the Dogecoin price could see its next rally between 2024 and 2025. He forecasted that the popular meme coin could experience a whopping 5,202.19% price increase towards the $5 mark. This massive surge in value would effectively push Dogecoin above its previous all-time high in 2021. Moreso, assuming the cryptocurrency can hit $5, this would represent a 50X increase from its current price of $0.139. 

Moving forward, Zero has declared that this projected price increase has been a long-awaited moment for DOGE holders, suggesting that there has been a build-up of anticipation for a bull run over the past three years. In addition to a Dogecoin price increase, the analyst also expects Bitcoin (BTC) to surge to new highs. 

A DOGE ATH Could Be Closer Than Investors Think

Many analysts in the crypto market appear to be highly optimistic about Dogecoin’s price outlook. Notably, a crypto analyst on X, identified as ‘CEO�?has told his 471,600 followers that the Dogecoin price could be getting ready for another all-time high soon.

The analyst revealed that the meme coin’s price action is repeating a 2020 reversal box pattern, indicating a potential for a price breakout. Moreover, Dogecoin is forming three higher lows and already breaking resistance, signalling that a big pump might be underway. Sharing a price chart highlighting Dogecoin’s bullish technical indicators, the analyst has projected that the cryptocurrency could see a continuous surge above $0.4 soon. 

• DOGE price started a fresh increase above the $0.1320 resistance level.
• The price is trading above the $0.1350 level and the 100-hourly simple moving average.
• There is a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could gain bullish momentum if it clears the $0.1450 and $0.1465 resistance levels.

Dogecoin Price Eyes More Upsides

Dogecoin price started a fresh increase above the $0.1200 resistance zone. DOGE gained traction for a move above the $0.1320 resistance zone, beating Bitcoin and Ethereum. There was also a move above the $0.1350 and $0.1400 resistance levels.

The price traded as high as $0.1467 and recently saw a minor downside correction. The price dipped below the $0.1420 level. It traded below the 23.6% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high.

However, the bulls are active above the $0.1350 level. There is also a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.1320 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1465 level. The next major resistance is near the $0.1480 level.

A close above the $0.1480 resistance might send the price toward the $0.1520 resistance. Any more gains might send the price toward the $0.1550 level. The next major stop for the bulls might be $0.1585.

Are Dips Supported In DOGE?

If DOGE’s price fails to climb above the $0.1465 level, it could start another decline. Initial support on the downside is near the $0.1420 level. The next major support is near the $0.1400 level.

The main support sits at $0.1335 or the 50% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high. If there is a downside break below the $0.1335 support, the price could decline further. In the stated case, the price might decline toward the $0.1250 level or even $0.1220 in the near term.

Technical Indicators

Hourly MACD �?The MACD for DOGE/USD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) �?The RSI for DOGE/USD is now above the 50 level.

Major Support Levels �?$0.1465 and $0.1500.

Major Resistance Levels �?$0.1420 and $0.1335.

Many investors believe that this breakout could signal the start of a more sustained rally for the meme coin.

Top analyst Daan recently shared key insights, pointing to a bullish outlook for Dogecoin in the coming weeks. According to his analysis, the breakout from $0.12 opens the door for DOGE to capitalize on the current market momentum. 

As Bitcoin and other major altcoins continue to gain strength, Dogecoin investors are closely watching for confirmation of bullish continuation, hoping for further upside potential.

With the market pushing higher and Dogecoin now breaking free from past struggles, many expect the meme coin to deliver impressive gains in the near term.

Dogecoin Making Moves

Dogecoin has surged over 33% since Monday, and it is now holding above its previous resistance level, maintaining bullish price action. This rally has sparked optimism among analysts and investors, as the overall market sentiment remains positive, and many believe that Dogecoin is primed for further gains in the coming weeks.

Top analyst and investor Daan shared a technical analysis on X, highlighting the significance of DOGE’s recent breakout. According to Daan, Dogecoin has successfully broken above the crucial $0.12 horizontal level and the Daily 200 moving average (MA). 

He noted that this breakout signals “pretty much clear skies” for the meme coin, as there is little resistance above this point. However, he also emphasized that $0.12 remains a key level, serving as an invalidation point if the price were to drop below it.

Despite the impressive performance of other meme coins in the market, Dogecoin has lagged behind in recent months. With this breakout, however, many believe that DOGE is finally catching up, and the coming weeks could see even more significant upside for the popular cryptocurrency.

As market conditions remain favorable, all eyes are on Dogecoin to see if it can continue building on this momentum and push toward higher price levels.

DOGE Price Action

Dogecoin is currently trading at $0.14 after a 4% retrace from its recent high of $0.147. This surge saw DOGE break above both the 200-day moving average (MA) and the exponential moving average (EMA), confirming a bullish outlook for the meme coin in the coming weeks. 

Analysts and investors are optimistic that Dogecoin will continue its upward momentum, fueled by positive market sentiment.

However, there is a risk that DOGE may face downward pressure if it fails to hold above the crucial $0.129 mark, which aligns with the 200-day MA.

A drop below this level could lead to a deeper retrace, testing the strength of the recent rally. With market conditions remaining volatile, the upcoming week will be key to determining whether DOGE can maintain its bullish trend or if it will enter a period of consolidation or further correction.

Traders are keeping a close eye on this support level, as a successful hold above $0.129 would likely signal more upside potential, while a break below it could dampen the current bullish sentiment. All eyes are on Dogecoin to see how it performs in the critical days ahead.

Featured image from Dall-E, chart from TradingView

Dogecoin Price Flashes Sell Signal

Dogecoin recently caught the interest of investors after its price dramatically surged by over 10%, surpassing the $0.127 mark in one day. The massive price increase was driven by social media hype and ongoing speculation about future endorsements from Musk, following his statements of a �?a href="//ktsl888.com/news/dogecoin/dogecoin-registers-4-increase-following-elon-musks-latest-post-key-levels-to-watch/amp/">Department of Government Efficiency (D.O.G.E)�?proposal. 

Despite the considerable surge in Dogecoin, analysts are cautioning that the price jump may be signaling an impending sell-off. Particularly, Ali Martinez, a popular crypto analyst took to X (formerly Twitter) to warn users that the meme coin was currently flashing a sell signal on the Dogecoin daily chart. 

While optimism for Dogecoin turned bullish after its price increase, it seems investors may have to get out of the market fast to preserve their new profits. While some loyal Dogecoin investors may hold on to their assets for the long term, short-term investors may be tempted to cash in on the recent gains. 

Based on the Dogecoin sell signal chart, Martinez predicts that the meme coin may experience a brief period of decline typically seen when meme coins experience sharp spikes. However, the analyst has also forecasted that after this short correction, Dogecoin may continue its upward momentum to reach new levels. 

The cryptocurrency is currently trading at $0.1446, a significant increase from its price earlier this month which was standing at around $0.11 at some point. CoinMarketCap’s data has also revealed that Dogecoin soared by a whopping 30.49% over the past week and increased by 38.81% in the last month. 

It’s clear that the popular meme coin is on a major uptrend, as its chart has been in the green for some time now. Although Dogecoin did see some declines previously, investors’ optimism regarding the meme coin is high as its daily trading volume has increased by 12.29%.

Analyst Says Dogecoin Is Going To $1

A crypto analyst identified as ‘Crow�?on X has confidently predicted a major bullish rally for Dogecoin. On October 18, the analyst predicted that the price of Dogecoin was going to $1 soon, possibly riding the wave of the upcoming crypto bull run. 

The analyst shared a distinctive historical Dogecoin chart, covering the period from 2014 to the present, highlighting how the cryptocurrency had previously experienced strikingly similar market movements before hitting a price high. In line with this trend, Dogecoin seems to have created another unique triangle pattern that started in 2021 and has continued into 2024. 

It is possible that with the complete formation of this triangle pattern, Dogecoin may see a potential spike to $1. While the predictions remain ambitious speculations, Crow has remained confident, emphatically declaring that Dogecoin is the Bitcoin of meme coins. 

Dogecoin Has Registered A 9% Jump During Last 24 Hours

While most of the cryptocurrency market has seen sideways price action during the past day, Dogecoin has shown to be different as its value has witnessed a notable increase.

The below chart shows the trend in DOGE’s price over the past month.

From the graph, it’s visible that the Dogecoin price has claimed the $0.134 mark with this rally and has surpassed the high from last month. The memecoin is now close to the July top, so if this run continues, the memecoin can potentially have a go at it as well.

In terms of the weekly returns, the latest jump has meant that DOGE is now up more than 24%, which has made it the best performer among the top 50 coins by market cap.

Dogecoin isn’t the only memecoin that has been rallying; the asset’s cousin Shiba Inu (SHIB) has also enjoyed bullish momentum during the past day, although its jump of 5% is less impressive than DOGE’s.

This latest focus on meme coins may not be the best sign for the cryptocurrency sector as a whole.

Market Topped Out The Last Time Memecoins Got The Attention

According to data from the analytics firm Santiment, the Social Dominance of the memecoins had spiked during the recent Bitcoin top above the $68,000 level. The “Social Dominance” here refers to an indicator that keeps track of the percentage of the discussions related to the top 100 coins on social media that a given coin or group of assets is occupying right now.

Here is a chart that shows how the Social Dominance of the top 6 layer 1 assets has compared with that of the top 6 meme coins recently:

As displayed in the above graph, the Social Dominance of the memecoins had shot up earlier as Bitcoin and others had rallied, suggesting that investors had started paying attention to these speculative assets.

This interest in the meme coins, though, ended up coinciding with the market top. “Typically, markets correct when focus shifts away from layer 1’s and toward more speculative assets due to greed,” explains the analytics firm.

With Dogecoin and Shiba Inu pulling away from the pack during the past day, it seems the investor greed is still high, which can potentially lead to more bearish action for Bitcoin and other top assets.

From the chart, it’s visible that the market has tended to reach bottoms when attention has shifted back to the layer 1 networks, so it’s possible that this may have to happen again if the sector-wide run has to continue.