{"id":556040,"date":"2023-10-19T10:00:55","date_gmt":"2023-10-19T10:00:55","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=556040"},"modified":"2023-10-19T09:32:51","modified_gmt":"2023-10-19T09:32:51","slug":"dogecoin-next-move-will-0-055-launch-a-recovery-phase","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/dogecoin\/dogecoin-next-move-will-0-055-launch-a-recovery-phase\/","title":{"rendered":"Dogecoin Next Move: Will $0.055 Launch A Recovery Phase?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Dogecoin (DOGE) has found itself in a precarious position, with its price being squeezed into a narrow range, hinting at a potential decisive breakout in the near future. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Market analysts closely monitor the crypto&#8217;s struggle to breach a longstanding resistance trendline, as an upside breakout could trigger a fresh rally, while a continuation of the current stalemate may lead to a further decline.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Earlier this week, DOGE encountered its fifth rejection from a persistent resistance trendline that has thwarted its upward momentum. The rejection left its mark on the daily candlestick chart, characterized by a prominent high wick, indicative of aggressive overhead supply. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Historical data reveals that such patterns often precede significant corrections in the cryptocurrency market.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin-sv-climbs-22-a-close-look-at-the-factors-behind-the-surge\/\" target=\"_blank\" rel=\"noopener \">Bitcoin SV Climbs 22% \u2013 A Close Look At The Factors Behind The Surge<\/a><\/div>\n<p><span style=\"font-weight: 400\">The current price of DOGE, 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\">, stands at $0.058295, with a 24-hour dip of 1.5% and a minor seven-day loss of 0.1%.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-556046 size-medium\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-59.png?w=460&#038;resize=460%2C298\" alt=\"\" width=\"460\" height=\"298\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-59.png?w=663 663w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-59.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">DOGE seven-day price action. Source: Coingecko<\/pre>\n<p>In the event that the prevailing selling pressure continues, there is a high probability that the value of the coin will see a further decline of approximately 4-5%. This decline may potentially lead to a reevaluation of the annual support trendline, with a projected value of approximately $0.055.<\/p>\n<p>Presently, the price of this memecoin is situated inside the confines of two prominent trendlines, indicating an impending occurrence of either a definitive upward surge or a downward decline.<\/p>\n<h2><strong>Dogecoin: Glimpse Of Hope Amidst Mixed Data<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Despite the gloomy price outlook, there is a glimmer of hope for DOGE enthusiasts. <\/span><a href=\"https:\/\/coingape.com\/markets\/dogecoin-price-prediction-will-0-055-springboard-the-next-recovery\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">The report<\/span><\/a><span style=\"font-weight: 400\"> also predicts that if the coin manages to sustain a breakout above the resistance trendline, investors could witness a sharp 16.8% surge, targeting the $0.068 level. This possibility is poised to keep traders and investors on the edge of their seats.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the other hand, <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/DOGE\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">data from IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\"> reveals some intriguing insights into DOGE&#8217;s current state. It&#8217;s been found that a significant portion of DOGE addresses, specifically 61%, are currently at a loss.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-556052\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-60.png?resize=582%2C193\" alt=\"\" width=\"582\" height=\"193\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-60.png?w=582 582w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-60.png?w=460 460w\" sizes=\"(max-width: 582px) 100vw, 582px\"><\/p>\n<pre style=\"text-align: center\">Source: IntoTheBlock<\/pre>\n<p><span style=\"font-weight: 400\">A deeper dive into the data exposes the fact that only 31% of the total DOGE holders are in profit, highlighting the challenging landscape for DOGE investors. An additional 10% of holders remain in a neutral position, while a substantial 59% of Dogecoin holders find themselves in a losing position.<\/span><\/p>\n<h2><strong>DOGE\u2019s Silver Lining<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">One silver lining in this scenario is the fact that 72% of DOGE holders have maintained their positions for over a year, signifying a strong commitment to the digital asset. A further <\/span><a href=\"https:\/\/watcher.guru\/news\/dogecoin-59-of-doge-holders-are-in-loss\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">26% of holders have held DOGE<\/span><\/a><span style=\"font-weight: 400\"> for a duration ranging from one month to 12 months, while 2% of holders have relatively shorter-term positions, spanning less than a month.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/npEa7PZX\/\" width=\"1835\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">DOGE market cap currently at $6.8 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">As the Dogecoin community eagerly awaits the impending breakout or breakdown, the cryptocurrency market remains a dynamic and uncertain space, where opportunities and risks are constantly shifting. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/will-cardano-slide-to-0-20-what-awaits-ada-investors-this-week\/\" target=\"_blank\" rel=\"noopener \">Will Cardano Slide To $0.20? What Awaits ADA Investors This Week<\/a><\/div>\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 MarketWatch<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE) has found itself in a precarious position, with its price being squeezed into a narrow range, hinting at a potential decisive breakout in the near future. Market analysts closely monitor the crypto&#8217;s struggle to breach a longstanding resistance trendline, as an upside breakout could trigger a fresh rally, while a continuation of the current stalemate may lead to a further decline. Earlier this week, DOGE encountered its fifth rejection from a persistent resistance trendline that has thwarted its upward momentum. The rejection left its mark on the daily candlestick chart, characterized by a prominent high wick, indicative of aggressive overhead supply. Historical data reveals that such patterns often precede significant corrections in the cryptocurrency market. Related Reading: Bitcoin SV Climbs 22% \u2013 A Close Look At The Factors Behind The Surge The current price of DOGE, according to CoinGecko, stands at $0.058295, with a 24-hour dip of 1.5% and a minor seven-day loss of 0.1%.\u00a0 DOGE seven-day price action. Source: Coingecko In the event that the prevailing selling pressure continues, there is a high probability that the value of the coin will see a further decline of approximately 4-5%. This decline may potentially lead to a reevaluation of the annual support trendline, with a projected value of approximately $0.055. Presently, the price of this memecoin is situated inside the confines of two prominent trendlines, indicating an impending occurrence of either a definitive upward surge or a downward decline. Dogecoin: Glimpse Of Hope Amidst Mixed Data Despite the gloomy price outlook, there is a glimmer of hope for DOGE enthusiasts. The report also predicts that if the coin manages to sustain a breakout above the resistance trendline, investors could witness a sharp 16.8% surge, targeting the $0.068 level. This possibility is poised to keep traders and investors on the edge of their seats. On the other hand, data from IntoTheBlock reveals some intriguing insights into DOGE&#8217;s current state. It&#8217;s been found that a significant portion of DOGE addresses, specifically 61%, are currently at a loss. Source: IntoTheBlock A deeper dive into the data exposes the fact that only 31% of the total DOGE holders are in profit, highlighting the challenging landscape for DOGE investors. An additional 10% of holders remain in a neutral position, while a substantial 59% of Dogecoin holders find themselves in a losing position. DOGE\u2019s Silver Lining One silver lining in this scenario is the fact that 72% of DOGE holders have maintained their positions for over a year, signifying a strong commitment to the digital asset. A further 26% of holders have held DOGE for a duration ranging from one month to 12 months, while 2% of holders have relatively shorter-term positions, spanning less than a month. DOGE market cap currently at $6.8 billion. Chart: TradingView.com As the Dogecoin community eagerly awaits the impending breakout or breakdown, the cryptocurrency market remains a dynamic and uncertain space, where opportunities and risks are constantly shifting. Related Reading: Will Cardano Slide To $0.20? What Awaits ADA Investors This Week (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 MarketWatch<\/p>\n","protected":false},"author":557,"featured_media":556043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,83685],"tags":[1144,85675,7,8686,83767,4735],"class_list":["post-556040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-dogecoin","tag-btcusd","tag-doge-price","tag-dogecoin","tag-ethusd","tag-meme-coins","tag-price-action"],"acf":[],"yoast_head":"\n<title>Dogecoin&#039;s Next Move: Will $0.055 Launch a Recovery Phase?<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has found itself in a precarious position, with its price being squeezed into a narrow range, hinting at a potential decisive breakout in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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