Cryptocurrency

COIN

Bitcoin

Dogecoin

<div class="finbold">
 <p class="paragraph">A fresh wave of investor optimism has breathed new life into the crypto markets over the past week, driving Bitcoin (BTC) above the elusive $34,000 threshold, a level it hadn’t seen since May 2022.&nbsp;</p>
 <div></div>
 <p class="paragraph">Notably, amidst this resurgence, Dogecoin (DOGE), the leading meme-inspired cryptocurrency, emerged as one of the standout performers.&nbsp;</p>
 <p class="paragraph">However, the excitement surrounding DOGE’s fortunes may not be over. On October 29, renowned cryptocurrency analyst Ali Martinez unveiled a significant bullish development for this unconventional digital asset, signaling potential further gains on the horizon.</p>
 <p class="paragraph">According to Martinez, also known as <em>ali_charts</em> on X, Dogecoin is demonstrating “promising signs,” with the cryptocurrency “<a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a>ing out of a <a rel="noopener noreferrer nofollow" title="multi-year" href="https://thebittimes.com/tag/multi-year.html">multi-year</a> descending triangle” on the weekly chart.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/0z23KUAQAisaWlLzRk22E7bW1FMD0bP-qRMMNiqzDhKJQiRcVxMxIXq_UpXbzAkdI5UnYcf2-htZ3M_o2cP894LrfbwikKGTT-Nf84gph0-a_s1rZEO-YSLnHCZf3ZTh3IYzZyKkoJUsaaM9-CRl-JU" alt>
  <figcaption class="wp-element-caption">
   DOGE breaks out of a multi-year descending triangle pattern. Source: Ali Martinez
  </figcaption>
 </figure>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/30/0a5377aa51098282263dec8de3e9bd6a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="doge-shib-and-ada-hint-at-correction-before-bullish-continuation">DOGE, SHIB, and ADA hint at correction before bullish continuation</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/30/145e604cd33c5479722164b1a8a35a1e.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="bitcoin-to-hit-50-000-pre-halving-says-crypto-expert">Bitcoin to hit $50,000 pre-halving, says crypto expert</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/30/a99b004e477fd8e5c7360d1ba58bd1e2.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="rich-dad-r-kiyosaki-shares-mix-to-survive-the-greatest-crash-in-world-history">'Rich Dad' R. Kiyosaki shares ‘mix’ to ‘survive the greatest crash in world history’</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/30/7f5b621ef7981fe24cdf21683fcaca9b.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="analyst-projects-mega-bounce-and-fireworks-for-xrp-this-is-when">Analyst projects 'mega bounce' and 'fireworks' for XRP; This is when</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/29/0dbbb318fb15b1cc6e0b82f3f56e6706.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="coinbase-stock-is-up-110-in-2023-is-coin-still-a-buy">Coinbase stock is up 110% in 2023; Is COIN still a buy?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">As can be seen from the above chart, DOGE has been stuck in a descending triangle formation since around May 2021 and has managed to ‘escape’ with the latest rally.&nbsp;</p>
 <p class="paragraph">A descending triangle is a <a rel="noopener noreferrer nofollow" title="bearish" href="https://thebittimes.com/tag/bearish.html">bearish</a> chart <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a> in technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>. It typically indicates a continuation of a downtrend and suggests that the price is more likely to <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a> down below the support line than to <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a> upward through the resistance line.</p>
 <p class="paragraph">As per Martinez, the <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a>out confirms the buy signal that was previously flashed by the TD Sequential Indicator, reinforcing the “bullish outlook” for DOGE.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#Dogecoin appears ready to start a new uptrend! <br><br>The TD Sequential presented a buy signal on $DOGE weekly chart. A sustained close above $0.062 could result in an upswing to $0.070. pic.twitter.com/XAGjXHMiOe</p>— Ali (@ali_charts) October 21, 2023
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-doge-price-analysis">DOGE price analysis</h2>
 <p class="paragraph">At the time of publication on October 30, DOGE was sitting at $0.069, up 0.94% in the past 24 hours.</p>
 <p class="paragraph">The meme cryptocurrency gained around 7% on the week and more than 12.5% on the monthly chart, adding $1.1 billion in market cap during this run.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/2_AKWh2AFGEN7Aec-Sow6sKgNcUPqCXPsKhMpeO1yaqUVdPLuf6AKqoWCMV6uFy3OzzrGQKvRMfVAF3Qahy3rhUi7f___Dk1M3ub1is6rnoANL9CaYUZZDidxUAUrbFQARP0poP4bYB13rJSnBhIGBY" alt>
  <figcaption class="wp-element-caption">
   DOGE 1-month price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">At its current price, Dogecoin is trading above the 200-day moving average (DMA), which is located at $0.068. This price level, and the 100-DMA at $0.065, act as support thresholds for DOGE.&nbsp;</p>
 <p class="paragraph">On the upside, the cryptocurrency faces resistance at $0.071 and $0.077 price points, indicating zones where selling pressure could increase.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/can-doge-reach-0-1-as-it-breaks-out-of-multi-year-bearish-pattern-tbt68342.html">https://thebittimes.com/can-doge-reach-0-1-as-it-breaks-out-of-multi-year-bearish-pattern-tbt68342.html</a></p>

Can DOGE reach $0.1 as it breaks out of multi-year bearish pattern?

Table of Contents

TheBitTimes

Other articles published on Oct 30, 2023

Bitcoin’s post-FTX performance in line with previous cycles

Solana Drops 5% as FTX-Linked Address Moves SOL to Kraken, Binance

5 Best AI Audio Tools for Recording Music, Podcasts and More

Zodia, Standard Chartered-backed platform, launches Crypto services in Hong Kong

RGU Professor Wins Academic of the Year at UK Awards

Crypto Funds See Highest Weekly Inflows Since July 2022

Join our free newsletter for daily crypto updates!