|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Dogecoin (DOGE) Price Analysis: Will the Meme Coin Manage a Post-Retest Reversal for a Bull Run Ahead?
Oct 08, 2024 at 08:00 pm
With the bullish trend faltering, Dogecoin (DOGE) is hovering near the psychological mark of $0.10. Will this lead to a significant downturn?
Dogecoin (CRYPTO: DOGE) is trading lower Monday morning after a weekend of choppy price action.
What Happened: Dogecoin was trading down 0.92% at $0.10739 at last check. The meme coin had dropped 2.83% during Friday’s session.
Dogecoin is now up 12% over the last 30 days and has a 52-week high of $0.1788.
Over the last seven days, Dogecoin price action had shown a bullish breakout of a medium-term resistance trendline on the daily chart.
The breakout marked a bullish continuation pattern, specifically a falling-wedge breakout.
The breakout rally faced resistance at the 200-day exponential moving average (EMA).
Dogecoin price action showed a retest of the broken trendline, causing the price to move laterally and trade near the 50-day EMA.
The 50-day EMA offered support and caused a bullish bounce in Dogecoin.
Dogecoin is part of the meme coin segment, which dropped below the $50 billion market cap threshold.
What Else: Dogecoin is the ninth-largest cryptocurrency by market capitalization, according to CoinMarketCap.
The meme coin was created in 2013 by software engineers Billy Markus and Jackson Palmer, who intended to create a fun and lighthearted alternative to Bitcoin (CRYPTO: BTC).
Dogecoin quickly gained popularity among cryptocurrency enthusiasts and on social media, particularly on Reddit.
The meme coin has been endorsed by several celebrities, including Elon Musk, Snoop Dogg and Gene Simmons, which has helped to boost its visibility and value.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Cardi B Promotes New Memecoin Called “WAP” on X (Formerly Twitter), but Fans Question Its Authenticity
- Oct 09, 2024 at 12:25 am
- American A-list celebrity rapper Cardi B posted on X (formerly Twitter) this morning, promoting a new memecoin called “WAP,” named after her hit song with Megan Thee Stallion. However, many of her fans are questioning if the post was real or if her account had been hacked.
-
- Bitcoin (BTC) Likely To Reach A New All-Time High By The Year's End
- Oct 09, 2024 at 12:25 am
- Timothy Peterson, an author and network economist has cited a positive outlook for Bitcoin in Q4 of 2024, predicting that the crypto asset could be gearing up for a short-term price surge, possibly to a new all-time before the end of the year.