Rally

Dogecoin

Shiba Inu

Elon Musk

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/12/cTszpEeB-1-e1701690954805.png" class="attachment-full size-full wp-post-image" alt="Doge Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Dogecoin Price Prediction: Over the past two weeks, Dogecoin (DOGE) has experienced a notable recovery, climbing from $0.075 to a recent peak of $0.091, marking an impressive 28.8% increase. This rally is likely fueled by positive investor sentiment, bolstered by Dogecoin’s recent association with <a href="https://coingape.com/doge-1-moon-mission-date-confirmed-spacex-launch-next-year/">various space programs</a>. During this ascent, the DOGE price has successfully breached the resistance trendline of a long-established triangle pattern, suggesting a potential trend reversal. 
Also Read: <a href="https://coingape.com/dogecoin-creator-billy-markus-and-elon-musk-reacts-to-irs-24-bln-fine-on-ftx/">Dogecoin Creator Billy Markus And Elon Musk Reacts To IRS $24 Bln Fine On FTX</a> 
<h2 id="b-dogecoin-price-escapes-2-year-accumulation-b">Dogecoin Price Escapes 2-Year Accumulation&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The DOGE price breakout from the triangle pattern hints at the continuation of the recovery trend.</li> 
 <li style="font-weight: 400;" aria-level="1">The midline of the Bollinger band indicator may act as dynamic support amid occasional pullback</li> 
 <li style="font-weight: 400;" aria-level="1">The 24-hour trading volume in Dogecoin is $1.05 Billion, indicating a 96% gain.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/w/WacXvD8u.png" alt="Dogecoin Price Prediction" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Dogecoin Price Prediction | TradingView Chart
 </figcaption>
</figure> 
For over two years, the <a href="https://coingape.com/price/dogecoin/">Dogecoin price</a> has been confined within the converging trendlines of a symmetrical triangle pattern. This chart setup has steered the memecoin through an extended accumulation phase, following the substantial downtrend it underwent from May 2021 to May 2022.&nbsp; 
<blockquote>
 However, with the crypto market gradually shifting back to a recovery mode, the DOGE price has shown a robust rally since mid-October. The price escalated from $0.0572 to $0.089, constituting a 55% growth in just two months.&nbsp;
</blockquote> 
On December 2, the buyers achieved a bullish breakout from the <a href="https://coingape.com/glossary/symmetrical-triangle-pattern/">triangle pattern’s</a> upper boundary, indicating a shift in market sentiment. According to the pattern setup, each swing high retesting the upper trendline could serve as a target for the triangle pattern, suggesting the Dogecoin recovery trajectory may target a significant increase to $2.06, equating to a potential growth of 78.84%.&nbsp; 
Nevertheless, this anticipated uptrend might encounter resistance at $0.105 and then at $0.132. 
<h2 id="strong-doge-vs-shib-performance-strong">DOGE vs SHIB Performance</h2> 
<figure id="attachment_167600" aria-describedby="caption-attachment-167600" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-167600 size-full" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-03_23-46-21-1-e1701690725575.png" alt="Dogecoin VS Bitcoin" width="1200" height="675">
 <figcaption id="caption-attachment-167600" class="wp-caption-text">
 Coingape| Dogecoin Vs Shiba Inu Price
 </figcaption>
</figure> 
In comparison with Bitcoin, both cryptocurrencies have shown substantial recovery in the last two weeks. While the <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> rise has been more consistent, the Dogecoin price trajectory included occasional pullbacks. Therefore, Doge holders should withstand this correction and leverage them as buying opportunities. 
<ul> 
 <li aria-level="1">Bollinger Band: An uptick in the higher boundary of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Band indicator</a> reflects that the buyers are aggressive in this asset.</li> 
 <li aria-level="1">Moving Average Convergence and Divergence: A Bullish crossover between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and signal line accentuates a recovery sentiment that is intact in DOGE.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/dogecoin-price-prediction-doge-breaks-700-day-resistance/">Dogecoin Price Prediction As $DOGE Breaks 700-Day Resistance; Is Rally $0.1 Imminent?&nbsp;</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Dogecoin Price Prediction As $DOGE Breaks 700-Day Resistance; Is Rally $0.1 Imminent?

Table of Contents

Coingape News Media

Other articles published on Dec 4, 2023

Dogecoin (DOGE) Alert: Significant Drop in Network Activity Detected – What’s Next?

Robert Kiyosaki urges EV shift as Bitcoin surpasses $40000 amid economic fears

Top Analyst’s Altcoin Watchlist: Top Projects Primed for Growth in December as Bitcoin Surpasses ...

Former Paxful CEO Ray Youssef Named CEO of Noones, a Financial Communication App – Here’s What Yo...

Bitcoin Cycle Analysis And Macro Factors Reveal When Price Will Reach $125,000

U.S. Space Force Major advocates for Bitcoin in national defense

Join our free newsletter for daily crypto updates!