Rally

Dogecoin

<img width="1200" height="551" src="https://coingape.com/wp-content/uploads/2023/12/bhR6q3Sx-1-e1703083794686.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: Amid the current uncertainty in the crypto market, the <a href="https://coingape.com/markets/dogecoin-price-prediction-resistance-break-hints-22-rally/">largest meme cryptocurrency Dogecoin</a> witnessed a sharp correction from the $0.106. In the last two weeks, the coin price has plunged 14% to reach the current trading price of $0.091. However, this retracement came after a seven-month rally, indicating the buyers are more likely to take a breather before the next leap. Should you buy this dip? 
Also Read: <a href="https://coingape.com/dogecoin-price-rallies-as-whales-move-657-mln-doge-to-coinbase-robinhood/">Dogecoin Price Rallies Despite Whales Moving 657 Mln DOGE to Coinbase &amp; Robinhood</a> 
<h2 id="b-flag-pattern-sets-a-directional-rally-beyond-0-12-b">Flag Pattern Sets a Directional Rally Beyond $0.12</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The Flag pattern breakout would signal the end of the correction trend.</li> 
 <li style="font-weight: 400;" aria-level="1">A potential upswing would face significant supply pressure at $0.105, followed by $0.131.</li> 
 <li style="font-weight: 400;" aria-level="1">The 24-hour trading volume in Dogecoin is $523 Million, indicating a 6% gain.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/b/bhR6q3Sx.png" alt="Dogecoin Price Prediction" width="1946" height="893">
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 Dogecoin Price Prediction| Tradingview
 </figcaption>
</figure> 
Amid the current correction phase, the <a href="https://coingape.com/price/dogecoin/">Dogecoin price</a> behavior has been confined between two parallel walking trendlines, indicating the formation of a flag pattern. This chart pattern indicates the current correction phase is temporary and is meant to stabilize price behavior before the next leap. 
<blockquote>
 Moreover, the coin price wavering above the 38.25% Fibonacci retracement tool indicates the current correction is healthy and buyers’ strength is intact. Thus, the traders bullish on Dogecoin must wait for a breakout from the flag upper trendline.
</blockquote> 
The post-breakout rally would surge the assets value 12% to rechallenge the last swing high of $1.05, followed by an extended rally to $0.14. 
<h2 id="b-dogecoin-shows-a-record-breaking-increase-in-address-activity-b">Dogecoin Shows a Record-Breaking Increase in Address Activity</h2> 
<figure id="attachment_170428" aria-describedby="caption-attachment-170428" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-170428 size-full" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-20_20-07-52-e1703083366173.png" alt="Dogecoin Addresses Stats" width="1200" height="469">
 <figcaption id="caption-attachment-170428" class="wp-caption-text">
 Source- Dogecoin Addresses Stats| Intotheblock
 </figcaption>
</figure> 
The “Addresses Stats” are a key barometer for gauging the foundational expansion in the cryptocurrency sector, shedding light on the levels of user participation and broader acceptance. Recent insights from IntoTheBlock, a distinguished analytics firm, revealed a notable uptick in Dogecoin’s network dynamics within a brief span. 
Over the Course of Three Weeks: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The count of active Dogecoin addresses surged from a modest 60.47K to a recent high of 76.22K.</li> 
 <li style="font-weight: 400;" aria-level="1">The emergence of new addresses saw a remarkable climb, escalating from 18.99K to an impressive 201.82K.</li> 
 <li style="font-weight: 400;" aria-level="1">Addresses with zero balance experienced a rise from 22.26K to 139.7K.</li> 
</ul> 
Moreover, this surge in both highly active and new addresses has reached levels not seen since 2014, demonstrating a profound surge in interest and participation within the Dogecoin ecosystem. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 35% suggests that the buying momentum might be nearing exhaustion, indicating the possibility of a minor pullback.</li> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> slope at 50% indicates the short-term trend in neutral.</li> 
</ul> 
The post <a href="https://coingape.com/markets/dogecoin-price-prediction-hints-last-pullback-before-hitting-0-12/">Dogecoin Price Prediction: Flag Pattern Hints Last Pullback Before Hitting $0.12</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Dogecoin Price Prediction: Flag Pattern Hints Last Pullback Before Hitting $0.12

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