{"id":554791,"date":"2023-10-10T13:00:36","date_gmt":"2023-10-10T13:00:36","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=554791"},"modified":"2023-10-10T10:55:21","modified_gmt":"2023-10-10T10:55:21","slug":"dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/","title":{"rendered":"Dogecoin Price Faces Crucial Test: Will $0.055 Withstand The Pressure?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. This period of consolidation has been marked by daily charts adorned with short-bodied candlesticks, a visual testament to the lack of enthusiasm from both buyers and sellers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It&#8217;s a curious phase in the world of DOGE, where the price appears to be biding its time, awaiting a catalyst to break free from this stasis. However, recent market fluctuations have cast a shadow over this tranquility, pushing DOGE closer to a foundational support level, possibly signaling an impending bullish resurgence.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/whats-behind-xrp-price-retreat-assessing-some-eye-opening-metrics\/\" target=\"_blank\" rel=\"noopener \">What\u2019s Behind XRP Price Retreat? Assessing Some Eye-Opening Metrics<\/a><\/div>\n<h2><strong>Dogecoin Price Analysis Suggests Sideways Movement<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Recent <\/span><a href=\"https:\/\/coingape.com\/markets\/doge-price-at-critical-juncture-will-0-055-hold-or-fold\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">price analysis<\/span><\/a><span style=\"font-weight: 400\"> indicates that DOGE&#8217;s sideways trend may continue, with the coin hovering near the $0.055 support level within a downsloping trendline. This level, coinciding with a long-standing support trendline, forms a significant accumulation zone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While DOGE&#8217;s price currently stands at approximately $0.059099 according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, it has experienced a 2.6% decline over the past 24 hours and a 4.9% dip over the last seven days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Should the resistance trendline maintain its influence, DOGE holders may anticipate a potential 7% drop, which could lead to a retest of the year-long support trendline located around the $0.055 region.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/2j15yAet\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">DOGE market cap reaching the $8.3 billion level. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Influential Figures Debate Crypto&#8217;s Inherent Value<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Meanwhile, on the social media platform X, a lively debate unfolded as two influential figures shared their perspectives on a contentious topic. The discussion was ignited by a statement from the Securities and Exchange Commission (SEC) regarding the Coinbase case, where they asserted that &#8220;crypto has &#8216;no innate or inherent value.'&#8221;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This assertion did not go unnoticed by Dogecoin&#8217;s co-founder, Billy Markus, who <\/span><a href=\"https:\/\/twitter.com\/BillyM2k\/status\/17679677\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">responded with a pointed critique<\/span><\/a><span style=\"font-weight: 400\">, emphasizing the taxes he had paid on his cryptocurrency earnings.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">then return all the taxes y\u2019all made me pay for receiving it you horrific evil hypocrites <a href=\"https:\/\/t.co\/rwisnADwLe\" rel=\"nofollow\">pic.twitter.com\/rwisnADwLe<\/a><\/p>\n<p>\u2014 Shibetoshi Nakamoto (@BillyM2k) <a href=\"https:\/\/twitter.com\/BillyM2k\/status\/17679677?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 9, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Elon Musk, the CEO of Tesla and SpaceX, renowned for his influential stance on cryptocurrencies, also entered the conversation, offering support to Markus&#8217;s perspective. Musk challenged the regulatory body by posing a rhetorical question: &#8220;It&#8217;s real if you have to pay taxes, but otherwise not real?&#8221;<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Stagnation: What\u2019s Causing Meme Coin\u2019s Recent Sluggishness?<\/a><\/div>\n<p><span style=\"font-weight: 400\">This<\/span><a href=\"https:\/\/u.today\/elon-musk-supports-dogecoin-creators-thesis\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\"> exchange by DOGE proponents<\/span><\/a><span style=\"font-weight: 400\"> highlights the ongoing debate surrounding the intrinsic value of cryptocurrencies and the increasing involvement of regulatory bodies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As the crypto market remains in a state of flux, the perspectives of influential figures like Markus and Musk continue to shape the discourse and influence market sentiment. <\/span><\/p>\n<p><span style=\"font-weight: 400\">It remains to be seen how these debates will impact the broader crypto landscape and whether DOGE will break free from its consolidation phase in the near future.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from <\/span>NDTV Food<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. This period of consolidation has been marked by daily charts adorned with short-bodied candlesticks, a visual testament to the lack of enthusiasm from both buyers and sellers.\u00a0 It&#8217;s a curious phase in the world of DOGE, where the price appears to be biding its time, awaiting a catalyst to break free from this stasis. However, recent market fluctuations have cast a shadow over this tranquility, pushing DOGE closer to a foundational support level, possibly signaling an impending bullish resurgence. Related Reading: What\u2019s Behind XRP Price Retreat? Assessing Some Eye-Opening Metrics Dogecoin Price Analysis Suggests Sideways Movement Recent price analysis indicates that DOGE&#8217;s sideways trend may continue, with the coin hovering near the $0.055 support level within a downsloping trendline. This level, coinciding with a long-standing support trendline, forms a significant accumulation zone.\u00a0 While DOGE&#8217;s price currently stands at approximately $0.059099 according to CoinGecko, it has experienced a 2.6% decline over the past 24 hours and a 4.9% dip over the last seven days. Should the resistance trendline maintain its influence, DOGE holders may anticipate a potential 7% drop, which could lead to a retest of the year-long support trendline located around the $0.055 region. DOGE market cap reaching the $8.3 billion level. Chart: TradingView.com Influential Figures Debate Crypto&#8217;s Inherent Value Meanwhile, on the social media platform X, a lively debate unfolded as two influential figures shared their perspectives on a contentious topic. The discussion was ignited by a statement from the Securities and Exchange Commission (SEC) regarding the Coinbase case, where they asserted that &#8220;crypto has &#8216;no innate or inherent value.&#8217;&#8221;\u00a0 This assertion did not go unnoticed by Dogecoin&#8217;s co-founder, Billy Markus, who responded with a pointed critique, emphasizing the taxes he had paid on his cryptocurrency earnings. then return all the taxes y\u2019all made me pay for receiving it you horrific evil hypocrites pic.twitter.com\/rwisnADwLe \u2014 Shibetoshi Nakamoto (@BillyM2k) October 9, 2023 Elon Musk, the CEO of Tesla and SpaceX, renowned for his influential stance on cryptocurrencies, also entered the conversation, offering support to Markus&#8217;s perspective. Musk challenged the regulatory body by posing a rhetorical question: &#8220;It&#8217;s real if you have to pay taxes, but otherwise not real?&#8221; Related Reading: Shiba Inu Stagnation: What\u2019s Causing Meme Coin\u2019s Recent Sluggishness? This exchange by DOGE proponents highlights the ongoing debate surrounding the intrinsic value of cryptocurrencies and the increasing involvement of regulatory bodies.\u00a0 As the crypto market remains in a state of flux, the perspectives of influential figures like Markus and Musk continue to shape the discourse and influence market sentiment. It remains to be seen how these debates will impact the broader crypto landscape and whether DOGE will break free from its consolidation phase in the near future. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from NDTV Food<\/p>\n","protected":false},"author":557,"featured_media":554802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,85675,7,8686,83767,4735],"class_list":["post-554791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-doge-price","tag-dogecoin","tag-ethusd","tag-meme-coins","tag-price-action"],"acf":[],"yoast_head":"\n<title>Dogecoin Faces Crucial Test: Will $0.055 Withstand The Pressure?<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. 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This period\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-10T13:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-10T10:55:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-36.png?fit=556%2C305\" \/>\n\t<meta property=\"og:image:width\" content=\"556\" \/>\n\t<meta property=\"og:image:height\" content=\"305\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Dogecoin Price Faces Crucial Test: Will $0.055 Withstand The Pressure?\",\"datePublished\":\"2023-10-10T13:00:36+00:00\",\"dateModified\":\"2023-10-10T10:55:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/\"},\"wordCount\":500,\"publisher\":{\"@id\":\"https:\/\/www.ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-36.png?fit=556%2C305\",\"keywords\":[\"btcusd\",\"Doge price\",\"Dogecoin\",\"ethusd\",\"meme coins\",\"Price action\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/\",\"url\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/\",\"name\":\"Dogecoin Faces Crucial Test: Will $0.055 Withstand The Pressure?\",\"isPartOf\":{\"@id\":\"https:\/\/www.ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/dogecoin-price-faces-crucial-test-will-0-055-withstand-the-pressure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-36.png?fit=556%2C305\",\"datePublished\":\"2023-10-10T13:00:36+00:00\",\"dateModified\":\"2023-10-10T10:55:21+00:00\",\"description\":\"Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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