Cryptocurrency

Dogecoin

<p>The post <a href="https://coinpedia.org/price-analysis/doges-price-can-double-if-it-breaks-through-this-major-hurdle/">DOGE’s Price Can Double If It Breaks Through This Major Hurdle</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cryptocurrency analyst and trader Ali, known on the X social media platform, recently shared insights on Dogecoin’s potential for reaching a new high at $0.14 per coin. Ali presented a Dogecoin chart along with his professional opinion on what the popular meme cryptocurrency needs to achieve this milestone.</p> 
<h2 class="wp-block-heading" id="h-dogecoin-may-double-its-price-analyst-says">Dogecoin May Double Its Price, Analyst Says</h2> 
<p>Dogecoin is in the spotlight as analyst Ali breaks down the potential for a significant price jump. Ali, a crypto trader, delves into Dogecoin’s weekly chart, uncovering both challenges and opportunities.</p> 
<p>According to Ali’s analysis, Dogecoin faces a major obstacle at the $0.087 mark on the weekly chart. This level is critical due to the coming together of key indicators, such as the 0.786 Fibonacci level and both the 100-week and 200-week Exponential Moving Averages (EMAs).</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> | On the weekly chart, <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> faces a major hurdle at $0.087. This crucial level is marked by the convergence of the 0.786 Fibonacci level and both the 100-week and 200-week EMAs.<br><br>Breaking past this barrier could open the gates for <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> to nearly double its price,… <a href="https://t.co/ALOUDuwKAy">pic.twitter.com/ALOUDuwKAy</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1729557606509744474?ref_src=twsrc%5Etfw">November 28, 2023</a>
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<p>These factors create a strong barrier that Dogecoin needs to overcome to move forward. Ali sees breaking past the $0.087 hurdle as the key to Dogecoin potentially doubling its current price.&nbsp;</p> 
<p>With an optimistic target <a href="https://coinpedia.org/price-analysis/dogecoin-breaks-out-of-its-key-level-will-doge-price-hit-0-1-soon/">of $0.14</a>, Ali anticipates a substantial price surge if Dogecoin successfully tackles the technical challenges posed by the convergence of Fibonacci levels and EMAs.</p> 
<h2 class="wp-block-heading" id="h-dogecoin-sets-new-record-for-transactions">Dogecoin Sets New Record for Transactions</h2> 
<p>Dogecoin is making headlines as its transaction count hits an all-time high. Prominent Dogecoin developer and community influencer @mishaboar shared the exciting news on the X platform, revealing that the DOGE transfer count has reached nearly 1.5 million transactions in the last 24 hours.</p> 
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   <p lang="en" dir="ltr">Nearly 1.5M transaction on the <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> network over the past 24 hours. Most of the traffic is connected to dust (very small transaction taking advantage of Dogecoin's low fees and dust limits). <br><br>Please note that the Dogecoin network is chugging along just fine and you can… <a href="https://t.co/ArDsOLEgcm">pic.twitter.com/ArDsOLEgcm</a></p>— Mishaboar (@mishaboar) <a href="https://twitter.com/mishaboar/status/1729563043032449261?ref_src=twsrc%5Etfw">November 28, 2023</a>
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<p>This surge in transactions began last Friday, surpassing both Bitcoin and Ethereum in this metric. Mishaboar highlighted that a significant portion of this traffic comes from small transfers, as users take advantage of Dogecoin’s network, known for its low fees and generous dust limits.</p> 
<p>Meanwhile, the rapid increase in transactions leads to a bigger blockchain, requiring operators to invest more resources into their nodes. This might pose a challenge, especially for those operators who rely on reputable host providers and could end up being costly for them.</p> 
<h2 class="wp-block-heading" id="h-doge-surpasses-btc-and-ada-by-important-metric-nbsp">DOGE Surpasses BTC and ADA by Important Metric&nbsp;</h2> 
<p>Earlier this week, prominent on-chain data aggregator Santiment revealed that Dogecoin’s wallet count has increased by 2.52% in the last few days, contrasting with a mere 0.25% growth in Bitcoin wallets and a 0.59% decrease in ADA wallets. The <a href="https://coinpedia.org/news/dogecoin-to-moon-in-2024-analyst-predict-doge-price-rally-soon/">surge in Dogecoin</a> wallets indicates a changing dynamic among cryptocurrency users.&nbsp;</p> 
<p>As Dogecoin faces key technical challenges, including the critical $0.087 hurdle, and celebrates record transaction counts, the crypto community eagerly watches its trajectory.</p>

DOGE’s Price Can Double If It Breaks Through This Major Hurdle

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