Dogecoin is definitely on a rally as shown by crypto market numbers. The cryptocurrency has experienced a significant market increase amidst a wider consolidation, with the price up by 7.46% in the past seven days. 

Although the price of DOGE was recently pushed back down today by some level of resistance near $0.087, it has since bounced back up again at $0.082. At the time of writing, DOGE is trading at $0.084, an increase of 2.4% from this support level. This indicates that the bulls are not ready to give up buying momentum. 

DOGE의 가격은 최근 $0.087 근처의 어느 정도 저항으로 인해 하락했지만 이후 다시 $0.082로 반등했습니다. 이 글을 쓰는 시점에서 DOGE는 이 지원 수준보다 2.4% 증가한 $0.084에 거래되고 있습니다. 이는 매수세가 매수 모멘텀을 포기할 준비가 되어 있지 않음을 나타냅니다.

According to a recent post by crypto analyst Rekt Capital on social media, DOGE has finally confirmed a break out of a descending channel pattern. On-chain signals also point to a huge surge in interest and trading volume, indicating DOGE might be going higher soon.

$DOGE has confirmed a breakout from its Channel#DOGE #Crypto #Dogecoin pic.twitter.com/SvmtG65FZa

$DOGE는 채널#DOGE #Crypto #Dogecoin에서 브레이크아웃을 확인했습니다. pic.twitter.com/SvmtG65FZa

— Rekt Capital (@rektcapital) November 17, 2023

Metrics Signal Impending Breakout

지표 신호 임박한 브레이크아웃

The current state of the cryptocurrency market appears to be one of general consolidation when viewed through the lens of the price action of the many different cryptocurrencies that are tracked by Coinmarketcap. 

Crypto market caps seem to be running out of steam after a four-week consecutive rally. However, Dogecoin’s market value has been increasing over the past week, bucking the trend of most other cryptocurrencies in the top 10 by market size, which has all shown a decline in their market caps over the past week. 

Dogecoin has finally broken out of its narrow trading range in the weekly candle chart, surging over 45% in the past month. Several catalysts have contributed to this impending breakout, one of which is an increased trading activity. Another catalyst is the announcement of Astrobotic’s plan to send a physical Dogecoin token to the moon in December.

Dogecoin은 지난 한 달 동안 45% 이상 급등하면서 마침내 주간 캔들 차트에서 좁은 거래 범위를 벗어났습니다. 여러 가지 촉매제가 이러한 임박한 돌파에 기여했으며 그 중 하나는 거래 활동 증가입니다. 또 다른 촉매제는 12월에 물리적인 Dogecoin 토큰을 달에 보내겠다는 Astrobotic의 계획 발표입니다.

Whale movements have also contributed for the most part. According to on-chain data from crypto analytics platform Santiment, the cumulative balance of wallets holding 10 million to 1 billion DOGE has increased from 44.63 billion DOGE tokens on November 1 to a cumulative balance of 47.38 billion DOGE tokens on November 17th. As a result, these large holders have increased their holdings by 2.75 billion DOGE, worth approximately $231 million at the crypto’s current price.

How High Can The Dogecoin Price Go?

Dogecoin 가격은 얼마나 높아질 수 있나요?

The technical indicators for Dogecoin are looking quite bullish right now. The short 10-day Moving Average has climbed steadily above the longer 21-day Moving Average since a bullish cross on October 23 last month, indicating the bulls still have major control over the market. A continued bullish momentum could see the crypto break various price resistances, the first being the $0.87 level.

Doge is trading at $0.08440 at the time of writing. The next hurdle is to break above $0.09 and then move towards $0.1. According to IntoTheBlock’s Global In/Out Of The Money metric, about 1.58 million addresses are still waiting for DOGE to climb above their minimum buying price of $0.858 before making a profit.

Doge는 이 글을 쓰는 시점에 $0.08440에 거래되고 있습니다. 다음 장애물은 $0.09를 돌파한 다음 $0.1을 향해 이동하는 것입니다. IntoTheBlock의 글로벌 In/Out Of The Money 지표에 따르면 약 158만 개의 주소가 여전히 DOGE가 수익을 내기 전에 최소 구매 가격인 $0.858 이상으로 상승하기를 기다리고 있습니다.