Price: $0.19355 -1.6595%
Market Cap: 28.39B 1.1364%
Volume (24h): 4.37B 0.2%
Dominance: 1.1364%
Price: $0.19355 -1.6595%
Market Cap: 28.39B 1.1364%
Volume (24h): 4.37B 0.2%
Dominance: 1.1364% 1.1364%
  • Price: $0.19355 -1.6595%
  • Market Cap: 28.39B 1.1364%
  • Volume (24h): 4.37B 0.2%
  • Dominance: 1.1364% 1.1364%
  • Price: $0.19355 -1.6595%
Home > Information news > Dogecoin Has Only One Direction From Here as Price Confirms Crucial Breakout

Dogecoin Has Only One Direction From Here as Price Confirms Crucial Breakout

Release: 2023/11/11 20:48 Reading: 977

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/654f74eeae3ec269c08eef28

Dogecoin (DOGE) appears poised for further gains after successfully confirming a significant technical breakout. According to respected analyst Rekt Capital, DOGE has made all the right moves to signal that a new uptrend is underway. With the memecoin breaking out of its year-long descending channel, the path of least resistance seems to be sharply higher.

The Momentum Builds

Rekt Capital highlights how DOGE staged an important retest of former channel resistance as new support just below $0.07. This successful retest helps validate the breakout’s legitimacy and indicates traders still have an appetite to buy DOGE on dips even after the initial surge higher. With support and bullish momentum reaffirmed, DOGE has a green light for continued advances

By decisively breaching the downtrend channel that has contained its price all year, DOGE appears poised to embark on a new bullish impulse wave. With the first target in sight around $0.10 – which aligns with the top of the breached channel – DOGE could appreciate nearly 50% from the breakout point in fairly short order.

Read also:

Memecoin Leadership Emerging

Interestingly, DOGE is not the only memecoin showing signs of life recently. The renewed interest in Shiba Inu and revival across the broader memecoin sector could provide a rising tide to lift DOGE higher. As the original memecoin with the most institutional adoption, DOGE may be reasserting leadership just as the niche comes back into focus.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Dogecoin Has Only One Direction From Here as Price Confirms Crucial Breakout appeared first on CaptainAltcoin.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.