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Dogecoin

<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41.png" class="attachment-full size-full wp-post-image" alt="Dogecoin price prediction chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41.png 2710w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
Dogecoin price prediction: Altcoins have over the last couple of months de-correlated from Bitcoin based on fundamental data from research firm Kaiko. While XRP and Binance (BNB) posted the largest drop in the correlation index, Dogecoin (DOGE) and Cardano (ADA) remained mostly correlated.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> has de-correlated with <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a> in the last 60 days!<a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> and <a href="https://twitter.com/hashtag/BNB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BNB</a> have registered the largest drop in correlation.
 While <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a> and <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> have remained mostly correlated.
 Source: <a href="https://twitter.com/KaikoData?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@KaikoData</a> <a href="https://t.co/NkFZgv2jSy" rel="noopener noreferrer nofollow">pic.twitter.com/NkFZgv2jSy</a>
 — CryptoBusy (@CryptoBusy) <a href="https://twitter.com/CryptoBusy/status/1729223566065844660?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 27, 2023</a>
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The largest meme coin although down 1.6% to $0.078 on Monday, is sustaining a 5% increase in the last seven days on top of the cumulative 14% in 30 days, market data by&nbsp;<a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/en/coins/dogecoin">CoinGecko</a>&nbsp;shows.
Meanwhile, trading volume has been shrinking across the board with a 35% drop recorded on the day to $458 million. The ongoing sell-off has seen DOGE trim 1.54% of the market cap in 24 hours to $11 billion.
<h2 class="p1" id="dogecoin-price-prediction-doge-slows-uptrend">Dogecoin Price Prediction: DOGE Slows Uptrend</h2>
The bullish thesis in&nbsp;<a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a>&nbsp;steadied from the support at $0.058, compelling investors to seek more exposure amid the promise of a return above the psychological resistance at $0.1.
Subsequent movements above all three MAs including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and the 200-day EMA (purple) significantly improved confidence in the uptrend.
Dogecoin later validated the formation of a double-bottom pattern whose impact has played a vital role in the continuation of the uptrend to eight-month highs of $0.0876.
Due to a profit-booking wave across the crypto market,&nbsp;<a href="https://coingape.com/markets/dogecoin-price-prediction-why-doge-is-at-risk-of-25-fall/" rel="noopener noreferrer nofollow">Dogecoin dropped</a>&nbsp;to test support provided by the 50-day EMA at $0.07.
<figure id="attachment_166565" aria-describedby="caption-attachment-166565" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-166565" src="https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41.png" alt="Dogecoin price prediction chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41.png 2710w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/DOGEUSD_2023-11-28_15-35-41-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"></a>
 <figcaption id="caption-attachment-166565" class="wp-caption-text">
 Dogecoin price prediction chart | Tradingview
 </figcaption>
</figure>
With investors looking at the long-term bullish outlook, Dogecoin bounced off support immediately, although resistance at $0.08 is currently the biggest blockade.
Trading above this level is crucial to&nbsp;<a href="https://coingape.com/markets/dogecoin-price-prediction-hints-10-jump-ahead/" rel="noopener noreferrer nofollow">Dogecoin price recovery</a>, however, with the Moving Average Convergence Divergence (MACD) indicator donning a sell signal, another sweep through liquidy in lower support areas like $0.07 would be required before the next recovery attempt past $0.1.
A retest of the double-bottom pattern’s neckline resistance now support is often bullish. Therefore, traders are at liberty to keep their long positions intact as they aim at profiting above $0.1.
Recommended for you:&nbsp;<a href="https://coingape.com/markets/terra-classic-price-drops-below-0-0001/" rel="noopener noreferrer nofollow">Terra Classic Price Dips Below $0.0001, Was the Recent Recovery a Bull Trap?</a>
<h2 class="p1" id="dogecoin-addresses-with-a-balance-hit-5m">Dogecoin Addresses With A Balance Hit 5M</h2>
According to data by&nbsp;<a rel="noopener noreferrer nofollow" href="https://t.co/e7WVc8SlAk">IntoTheBlock</a>, a blockchain analytics platform, “there are now more than 5 million Dogecoin addresses with a balance.” This number has grown steadily since August and confirms the increasing risk appetite among investors for the leading meme coin.
<figure id="attachment_166564" aria-describedby="caption-attachment-166564" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses.jpeg" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-166564" src="https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses.jpeg" alt="Dogecoin addresses" width="978" height="438" srcset="https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses.jpeg 978w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses-300x134.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses-768x344.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-addresses-150x67.jpeg 150w" sizes="(max-width: 978px) 100vw, 978px"></a>
 <figcaption id="caption-attachment-166564" class="wp-caption-text">
 Dogecoin addresses | IntoTheBlock
 </figcaption>
</figure>
Coincidentally, Dogecoin’s user activity also spiked within the same period, with 168,000 active addresses transacting on the network on November 27. This was the highest level of engagement since March 2022.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This milestone coincides with a remarkable surge in Dogecoin's user activity. Notably, there were 168,000 active addresses yesterday, marking the highest engagement since March 2022. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f517.png" alt="🔗" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/sVl5CEGSe2" rel="noopener noreferrer nofollow">https://t.co/sVl5CEGSe2</a> <a href="https://t.co/3eyOhGqkCd" rel="noopener noreferrer nofollow">pic.twitter.com/3eyOhGqkCd</a>
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1729186536527384616?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 27, 2023</a>
</blockquote>
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Although Dogecoin price reveals weakness due to resistance at $0.08, solid fundamental factors like the higher investor risk appetite and user engagement hint at a stronger bullish future.
If support at $0.07 holds, Dogecoin could begin another rally bolstered by the momentum from investors buying the dip. A break above $0.1, while significant, would not mark the end of the uptrend, but may usher in a bullish dispensation.
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The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/markets/dogecoin-price-prediction-will-doge-rally-as-addresses-with-a-balance-surpass-5m/">Dogecoin Price Prediction: Will DOGE Rally As Addresses With A Balance Surpass 5M</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Dogecoin Price Prediction: Will DOGE Rally As Addresses With A Balance Surpass 5M

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