Dogecoin (DOGE) Price Dips Have Caused a Shift of Investors from DOGE to IntelMarkets (INTL)

The AI-driven platform is gaining traction in this bull run with a rapid influx of investors from various established platforms.

Dogecoin (DOGE) has shown resilience in the bear market, remaining within a bullish ascending triangle on the higher timeframes. Several analysts are bullish on the meme coin, predicting a potential breakout to the $0.4830 highs. However, the coin faces strong resistance at $0.4, which could limit its gains in the short term.

Key Levels

Spot rate: $0.3430

Trend: Bearish

Volatility: Low

Relative Strength Index: Bullish

Dogecoin (DOGE) price has fallen significantly over the past few weeks, dropping from a December high of $0.4830 to lows of $0.34. The meme coin has faced strong selling pressure at $0.4, failing to breach this resistance level since the beginning of 2023.

On the lower timeframes, Dogecoin price appears to be forming a bullish ascending triangle pattern (dotted lines). A breakout from this pattern could see DOGE price rally towards the pattern's peak at $0.45. However, for this scenario to play out, the meme coin will need to reclaim the $0.4 level, which has acted as strong resistance throughout 2023.

A failure to break out from the ascending triangle pattern could see Dogecoin price drop towards the pattern's lower support trendline at $0.3. A breakout below this trendline could see DOGE price fall towards the December lows of $0.2630.

Technical indicators on the lower timeframes are bullish, showing that Dogecoin price is likely to continue ranging within this pattern before making a breakout move. The Percentage Price Oscillator (PPO) indicator is bullish, with its histogram remaining above the zero line.

The lower timeframes also show that Dogecoin price is trading above both the 50-day and 100-day moving averages (light blue and light green, respectively). A breakout below either of these moving averages could see bearish momentum increase in the short term.