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Since we’re talking about Dogecoin price prediction, we can start by looking at how the currency has performed this year. After a steep decline in January, the price started to climb again and was up by almost 25% in the past month. However, this is still a far cry from the all-time high of $0.020 (in early January), which means there is plenty of room for growth. The Price of Doge (DOGE) | Investopedia https://www.investopedia.com/trading/dogecoin-price-prediction/
We’ve seen it all before – coins take off, and then the FOMO gets the best of people and they buy in just before the coin’s price nosedives. This was the case with Verge, which lost 80% of its value in 24 hours after reaching a high of $0.22. Will history repeat itself with Dogecoin? Although it’s impossible to know whether or not Dogecoin will reach $0.40, or even $0.20, we can look at the current trend and make some educated guesses. So, here are 5 reasons why Dogecoin will climb to $0.40 soon:
Summary of the situation
- The price of dogecoin is expected to surpass $0.400 and reach $0.500.
- The next support level is at $0.300.
- DOGE is facing resistance at $0.400.
The price of Dogecoin finally broke through the $0.30 level and strong bullish momentum has pushed the price above the $0.35 level. Over the past seven days, Dogecoin’s price has risen 45%, showing continued bullish dominance. However, the strong upward movement is giving way to volatile price movements.
The broad crypto-currency market was bullish over the past 24 hours, with most major crypto-currencies posting gains throughout the time frame. Among the top performers were Ripple’s XRP and BNB, which posted gains of 1.14% and 2.02%, respectively. Meanwhile, Bitcoin and Ethereum posted gains of 6.61% and 2.18%, respectively.
Technical indicators for DOGE/USDT
Technical indicators for DOGE/USDT from Tradingview
As for the technical indicators, the MACD is showing strong bullish momentum. The indicator showed bearish momentum for the Dogecoin price until 12pm yesterday, but then the indicator showed a bullish reversal when the 12-EMA crossed above the 26-EMA. As for the EMAs, the 12-EMA is trading above the 26-EMA and continues to diverge while both EMAs are on the upside.
The RSI is currently in overbought territory, which is a strong sell signal, as the indicator is trading above the 72.00 level. The indicator has been in the overbought area since yesterday and the bullish momentum has only waned in the last few hours.
The Bollinger Bands are currently wide and will widen as the bulls take control of the market dynamics. The widening bands suggest that the volatility of the Dogecoin price is increasing in the short term. Meanwhile, as price consolidates above the upper boundary, away from the band’s midline, the bands in the following candles will be tilted upwards.
Overall, the technical analysis on the 4-hour chart gives a buy signal. 16 out of 26 leading technical indicators point to an upward movement. On the other hand, only one indicator gives a sell signal, indicating a bearish pullback. Meanwhile, nine indicators continue to lag, supporting neither side of the market.
The 24-hour technical analysis underscores this sentiment and gives a strong buy signal, with 16 out of 26 indicators showing an upward move, versus zero indicators showing a bearish pullback. Meanwhile, ten indicators remain neutral and give no signal at the time of writing.
What should we expect from the Dogecoin price?
4-hour price chart from Tradingview
The price of dogecoin has started a new uptrend and is slowly gaining ground as DOGE climbs towards the $0.400 level. In recent days, the stock broke through resistance at $0.250 and $0.300 and climbed to $0.350, where it is currently trading.
Short-term technical indicators point to increasing buying pressure on the Dogecoin price, while medium-term indicators remain strongly bullish. Therefore, traders should expect the price to rise to $0.400 before it rises above $0.500. However, low trading volume limits price movement at the time of writing.
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Frequently Asked Questions
Is Dogecoin worth investing in 2020?
It’s a simple cryptocurrency, with the goal of being the Internet currency. It’s so simple, that anyone can understand it. It’s super secure, because it uses the latest cryptography techniques to secure all transactions. It’s super fast, and super cheap (fractions of cents), so it’s very competitive with other cryptocurrencies. It’s a great cryptocurrency for micro-transactions, and it’s already being used in a lot of tipping-apps on Reddit. The “goal” of our content is to get to “over 1,000 blog posts.” We could change this to “let’s get to 500 blog posts,” but that’s no fun. We don’t have the ability to edit the goal, and if we did, While the cryptocurrency market has fallen for the past few weeks, many analysts are still optimistic about the future, especially as established companies like Facebook and Starbucks move into the market. While this growth is exciting to watch, it remains to be seen whether altcoins like Dogecoin have a place in the market in 2020.
Will Dogecoin go up in 2021?
If you’ve been following the cryptocurrency market for the last 6 months it’s been hard to escape the hype surrounding Dogecoin. Dogecoin is a cryptocurrency which has gone up over 4,000% in the last 6 months. Bitcoin, the largest cryptocurrency, has gone up 1,300% during the same period. One of the oldest altcoins, and one of the most popular, is Dogecoin. The coin was created as a joke, and is a “meme currency.” It is also based on the popular Shiba Inu dog from the “Doge” Internet meme. It’s not clear how much of the coin’s value is based on the coin itself, and how much of it is based on the community behind it. Some argue that as long as people believe in Dogecoin, the coin will have value. Other people say that the coin needs to have real world use cases to continue to be valuable.
How much will Dogecoin be worth?
So, how do you value dogecoin? The Dogecoin to US dollar exchange rate has increased from 1,000 dogecoins per $0.00089 in early January 2014 to 1,000 dogecoins per $0.00328 in early February 2014. To get a better idea of our Dogecoin price prediction today, we can compare this to the rise of bitcoin. In January of 2011, the cost of a bitcoin was $0.32 per bitcoin, however, by the end of the first week of February it had increased to $0.39 per bitcoin. Despite the gains, the price then fell back to $0.37 per bitcoin by the end of the month. In this article, we’re going to be taking a look at Dogecoin, and what we can expect for its future. Dogecoin is the world’s first meme coin. While this may seem like a bad thing, it’s actually helped keep the coin popular for longer than most others—Dogecoin has been around since December 2013, and it’s still popular and valued. So, what are its chances? Is Dogecoin a good investment? Direct the following at a sentence or a paragraph that succinctly summarizes a topic, but is not the topic of the paragraph. The post is titled “5 Things You Need to Know Before You Watch ‘Stranger Things’ Season 2” Example: The Duffer Brothers,
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