Bitcoin

Dogecoin

Rekt

The king of the memecoins, Dogecoin (DOGE), has been following the general sentiment in the crypto market as it breaks out from a critical level. The token experienced selling pressure on low timeframes but seems poised for further profits. 
As of this writing, Dogecoin (DOGE) trades at $0.078 with a 1% loss in the last 24 hours. Over the previous seven days, the memecoin held 6% in profits, operating as a top performer in the top 10 by market capitalization. 
<img loading="lazy" decoding="async" class="wp-image-561082 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=860&amp;resize=860%2C410" alt="Dogecoin DOGE DOGEUSDT" width="860" height="410" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=1759 1759w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=860&amp;resize=860%2C410 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="dogecoin-on-route-for-0-10-analyst-makes-bullish-case">Dogecoin On Route For $0.10? Analyst Makes Bullish Case</h2> 
As mentioned, the Dogecoin rally has found hurdles over today’s trading session, with the price returning below the critical level at $0.08. Crypto trader Rekt Capital <a href="https://twitter.com/rektcapital/status/1725111169038287341/photo/1" target="_blank" rel="noopener nofollow">claims</a> that the recent price action confirmed a bullish trajectory for the token. 
The chart below shows that Dogecoin completed a path from its yearly lows at $0.052 across October and November. As the bulls pushed upwards, the cryptocurrency broke its descending channel, setting a path towards the area above $0.11, last seen in 2022. 
<img loading="lazy" decoding="async" class="wp-image-561080 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=860&amp;resize=860%2C610" alt="Dogecoin DOGE DOGEUSDT chart 2" width="860" height="610" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=1364 1364w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=860&amp;resize=860%2C610 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=120 120w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-2.jpg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="doge-price-likely-to-return-to-all-time-high">DOGE Price Likely To Return To All-Time High</h2> 
A separate <a href="https://twitter.com/xnaeemrr/status/1725132623045865973/photo/1" target="_blank" rel="noopener nofollow">report</a> from another crypto trader looks at Dogecoin over high timeframes. The token is close to completing a bigger breakout over its Bitcoin (BTC) trading pair on this horizon. 
The analyst cites a series of positive fundamentals for Dogecoin, including its scalability and “low energy consumption” transactions. On the chart above and pointing to the moving average convergence/divergence (MACD) indicator, the analyst stated: 
<blockquote>
 In the $DOGE / $BTC trading pair, bullish patterns and indicators have been observed in the higher timeframes. Notably, a falling wedge pattern is evident in the 4-day timeframe, accompanied by a bullish crossover in the MACD indicator.
</blockquote> 
<img loading="lazy" decoding="async" class="wp-image-561079 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=860&amp;resize=860%2C695" alt="Dogecoin DOGE DOGEUSDT chart 3" width="860" height="695" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=1186 1186w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=860&amp;resize=860%2C695 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Dogecoin-DOGE-DOGEUSDT-chart-3.jpg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
It remains to be seen if DOGE can return to its 2022 and 2021 high against its Bitcoin and USDT trading pairs. The bullish momentum in the crypto market is holding, albeit with an increase in selling pressure, possibly triggered by speculators taking profit at current levels. 
Cover image from Unsplash, chart from Tradingview

Dogecoin Begins Climb: Key Price Targets Set Following Breakout From $0.08

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