Dogecoin

On Saturday, January 20, the Dogecoin price rose by more than 23% within 5 hours. As NewsBTC <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-doge-up-by-11-as-x-launches-dedicated-payment-account/" target="_blank" rel="noopener ">reported</a>, the creation of the X Payments account was the cause of the sudden price increase, which reignited hopes within the community about the integration of DOGE. However, the speculative surge was short-lived, with only around 4% of the gains remaining at time of publication. 
<h2 id="when-will-dogecoin-price-moon">When Will Dogecoin Price ‘Moon’?</h2> 
In a new <a href="https://twitter.com/52kskew/status/1749046223057948927" target="_blank" rel="noopener nofollow">analysis</a>, Skew, a well-known figure in the crypto analysis sphere, has presented a nuanced perspective on the potential drivers for an lasting <a href="https://www.newsbtc.com/news/dogecoin/top-analyst-anticipates-dogecoin-surge-to-0-10-but-theres-a-catch/" target="_blank" rel="noopener ">upswing</a> of the Dogecoin (DOGE) price. Skew’s findings are grounded in both technical and speculative market dynamics. 
Skew’s examination of the DOGE 4-hour (4H) chart revealed a “Nice pump after the creation of the XPayments account,” suggesting that the market is speculating about ‘X’ possibly integrating Dogecoin as a payment option. Despite the positive momentum, Skew emphasized that for a sustainable uptrend, DOGE needs to “properly reclaim the 1W pivot ($0.08750) &amp; Yearly open there after.” 
He stressed the importance of the price trend aligning with the 4-hour Exponential Moving Averages (EMAs) and a Relative Strength Index (RSI) consistently above 50. “Systematically, I’m looking for price to trend with 4H EMAs &amp; RSI above 50 to sustain a real uptrend,” he stated. 
<img loading="lazy" decoding="async" class="wp-image-570688 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166" alt="Dogecoin price analysis" width="2454" height="1166" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=2454 2454w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXVwP6bQAAcK4T.jpg?resize=2454%2C1166?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
On the DOGE Binance spot market, Skew highlights a new price range formation, noting a significant spot demand zone around $0.07 and a large supply wall at $0.1. He pointed out: “New range being quoted here so far &amp; clear larger range between current spot supply &amp; demand.” Notably, large bids were filed during the recent move above $0.09 
<img loading="lazy" decoding="async" class="wp-image-570687 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233" alt="Dogecoin Binance spot analysis" width="2178" height="1233" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=2178 2178w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEXYBeeacAAevSE.jpg?resize=2178%2C1233?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
Regarding the Open Interest (OI) and Delta on Binance and Bybit for DOGE, Skew observed a “substantial OI increase on this +13% price move &amp; more perp volume seen than spot volume.” He suggested monitoring spot market flows for bullish indicators such as a spot premium leading price, spot limit bids on dips, and neutral funding rates to anticipate further gains. 
Skew reflected on the previous DOGE rally linked to ‘X’, noting that “Clean systematic confirmations prior to narrative pump” were evident, but the rally faltered due to “loss of narrative buyers” after the <a href="https://www.newsbtc.com/news/dogecoin/elon-musk-biography-dogecoin/" target="_blank" rel="noopener ">DOGE logo</a> was removed. For a significant DOGE rally, Skew asserted that the market needs four clear signs: 
<blockquote>
 A real narrative this time, key price level reclaim, 4H trend sustained, [and] higher spot flows to support perp speculation.
</blockquote> 
Adding to Skew’s analysis, crypto analyst @DaanCrypto <a href="https://twitter.com/DaanCrypto/status/1749046937301791199" target="_blank" rel="noopener nofollow">provided</a> insights on the 1-day DOGE/USD chart, stating, “DOGE I’m not over complicating things. Nice hold of the Daily 200MA/EMA. Narrative surrounding XPayments picking up.” However, he cautioned that “we have no idea if anything will come from it,” advising a focus on higher timeframes for a margin of safety. 
<img loading="lazy" decoding="async" class="wp-image-570691 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791" alt="Dogecoin price" width="1246" height="791" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=1246 1246w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/GEW_7UiXIAAgMJe.jpg?resize=1246%2C791?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
At press time, DOGE traded at $0.08276. 
<img loading="lazy" decoding="async" class="wp-image-570693 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673" alt="Dogecoin price" width="3628" height="1673" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=3628 3628w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2024/01/DOGEUSD_2024-01-22_10-38-11.png?resize=3628%2C1673?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

Dogecoin Price Will ‘Moon’ If This Happens: Crypto Analyst

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