Rally

Bitcoin

Dogecoin

Captain

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/dogecoin-rally-begins-will-doge-price-jump-10x-to-reach-1/">Dogecoin Rally Begins, Will DOGE Price Jump 10x To Reach $1?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Taking a bullish stand in the Uptober season, the DOGE price rose by 21% in the last two weeks of October. Sustaining the uptrend momentum, Dogecoin gives a long-term pattern breakout, teasing a trend reversal to reach the $0.10 mark. 
Moreover, recently, the $3 million short Liquidations showcased a stronger bullish support for the memecoin. As the biggest meme coin per market cap, <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">Dogecoin price predictions</a> hint at a bull run as 2023 ends. 
<h2 class="wp-block-heading" id="h-uptrend-begins-in-dogecoin">Uptrend Begins In Dogecoin!</h2> 
Captain Faibik, a crypto trader and analyst, tweets about the possibility of a Dogecoin reaching the $1 mark in this bull run.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> Bull run has officially Started <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> could reach $1 within the next 6 Months. Mark my Words. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/270d.png" alt="✍" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> <a href="https://twitter.com/hashtag/DOGEUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#DOGEUSDT</a> <a href="https://t.co/6EhArkRIir">pic.twitter.com/6EhArkRIir</a>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1722464961648079330?ref_src=twsrc%5Etfw">November 9, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The DOGE price action analysis displays a rally ready to begin by showing a triangle breakout in the long-term weekly chart. Accounting for slightly more than a 1000% jump, Dogecoin presents itself as a great investment opportunity.&nbsp; 
Given a 6 months timeframe, Captain Faibik remains optimistic about the breakout rally reaching the psychological mark of $1.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="480" src="https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-1024x480.png" alt="" class="wp-image-243272" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-1024x480.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-768x360.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-1536x720.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/09112016/DOGEUSD_2023-11-09_10-12-40.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Following the double bottom reversal from $0.057, Dogecoin prices continue to form higher high formations and ride the market recovery rally as Bitcoin touches $36K. Further, the uptrend in DOGE price exceeds the 200-day EMA to reach the $0.077 mark.&nbsp; 
With a price jump of 30% in the last three weeks, the meme coin gives a bullish breakout of a long-coming falling wedge. As the uptrend concludes the prevailing medium-term downtrend, the breakout rally continues to gain momentum.&nbsp; 
Currently, the DOGE price is trading at $0.0770 with an intraday growth of 2.39%, reflecting a boost in momentum. Moreover, the bullish engulfing candle teases a new breakout entry spot for sideline traders.&nbsp; 
Technical indicators: 
MACD indicator: The MACD and signal lines continue the uptrend after avoiding a death cross event.&nbsp; 
EMA: The declining gap between the 50-day and 200-day EMA teases a golden crossover possibility. The crossover will certify the trend reversal in meme coins and signal an entry spot for buyers.&nbsp; 
<h2 class="wp-block-heading" id="h-will-doge-price-reach-1">Will DOGE Price Reach $1?</h2> 
Following the wedge breakout and the triangle breakout in the weekly chart, the DOGE price rally is about to begin. Further, the upcoming bullish catalysts like the golden crossover, $0.10 breakout, and the upcoming altseason can fuel the rally in meme coins.&nbsp; 
Therefore, the possibility of Dogecoin reaching the psychological mark of $1 seems highly likely. However, the volatility in crypto, especially meme coins, is notable and may result in some shakeouts.&nbsp; 
On the flip side, a fall below the $0.070 mark can result in a price drop to $0.066.

Dogecoin Rally Begins, Will DOGE Price Jump 10x To Reach $1?

Table of Contents

CoinPedia News

Other articles published on Nov 9, 2023

Sweden’s Bitcoin thefts show need for anonymity

XRP Set to Ride the Crypto Wave as Market Predicts Nearly 500% Growth

Assassin’s Creed: Ubisoft Dives Into Crypto Gaming With Immutable

Livepeer Price Prediction 2024-2030: Will LPT Price Spike Higher?

Wirex Joins Forces With Cenit Finance to Boost WXT Tokenomics

SEC Chair Gary Gensler Says FTX Can Make A Comeback, But Here’s The Catch

Join our free newsletter for daily crypto updates!