Shiba

VeChain

2024

Dogecoin

<div class="watcher-guru"> 
 <p>The price of the popular meme-inspired cryptocurrency Dogecoin (DOGE) has seen intense volatility over the past month. DOGE fell sharply after a failed breakout before finding support at a key technical level.</p> 
 <p>According to the data, Dogecoin surged in early December, breaking out from an ascending parallel channel where it had been trading. The breakout propelled Dogecoin to a local high of $0.108 on December 11th. However, the rally was short-lived. Over the following weeks, the price retreated as quickly as it had spiked.</p> 
 <p>At press time, Dogecoin had plunged to a low of $0.08094. However, DOGE has surged 5% from its 24-hour low of $0.07681. The sell-off appears to have been driven by profit-taking after the overheated rally as well as weakness in the broader cryptocurrency market.</p> 
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 <p><strong>Also read: VeChain Is A Top Pick For 2024, Analyst Says VET Can Hit $1.14</strong></p> 
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  <img decoding="async" width="1024" height="457" src="https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp" alt="Dogecoin price" class="wp-image-124020" srcset="https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 1024w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 300w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 768w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 1536w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 2048w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 380w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 550w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 800w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 1160w, https://cdn.thebittimes.com/images/2024/01/10/b2704f5b53404a92251772cbe40ad4d7.webp 3034w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: CoinMarketCap
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 <p>However, Dogecoin managed to bounce to a critical support level near the $0.074 mark. The rebound came right at the rising trendline support of Dogecoin’s previous ascending channel, underscoring the technical relevance of this price zone.&nbsp;&nbsp;</p> 
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 <h2 class="wp-block-heading" id="h-will-doge-climb-to-0-1">Will DOGE climb to $0.1?</h2> 
 <p>Still, analysts caution that there are few signs of strength for Dogecoin over the near term. The Relative Strength Index (RSI), a momentum indicator used to gauge asset price trends, remains below the 50-neutral mark after peaking above 80 in early December, when Dogecoin was overbought. Readings below 50 typically indicate negative momentum and the absence of a sustainable price bottom.</p> 
 <p><strong>Also read: Shiba Inu: Boldest SHIB Price Prediction For 2024</strong></p> 
 <p>With the RSI not yet oversold, traders may look for more sideways consolidation and potential retests of support around the $0.074 mark before Dogecoin mounts a lasting recovery. Volume trends also remain lackluster despite Tuesday’s intraday spike, indicating caution among buyers.</p> 
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  <img decoding="async" width="584" height="227" src="https://cdn.thebittimes.com/images/2024/01/10/7fdac30be0972c5aae9a6d1e33b63fb0.webp" alt class="wp-image-124019" srcset="https://cdn.thebittimes.com/images/2024/01/10/7fdac30be0972c5aae9a6d1e33b63fb0.webp 584w, https://cdn.thebittimes.com/images/2024/01/10/7fdac30be0972c5aae9a6d1e33b63fb0.webp 300w, https://cdn.thebittimes.com/images/2024/01/10/7fdac30be0972c5aae9a6d1e33b63fb0.webp 380w, https://cdn.thebittimes.com/images/2024/01/10/7fdac30be0972c5aae9a6d1e33b63fb0.webp 550w" sizes="(max-width: 584px) 100vw, 584px">
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 <p>According to the experts at Changelly, Dogecoin is likely to reach $0.1 in February 2025. However, it all depends on the overall market conditions.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/dogecoin-creates-short-term-bullish-pattern-will-doge-hit-0-1-tbt76085.html">https://thebittimes.com/dogecoin-creates-short-term-bullish-pattern-will-doge-hit-0-1-tbt76085.html</a></p>

Dogecoin Creates Short-Term Bullish Pattern; Will DOGE Hit $0.1?

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