2024

Dogecoin

Resistance

<p>The post <a href="https://coinpedia.org/news/dogecoin-doge-making-a-comeback-can-it-reach-10-with-familiar-chart-patterns/">Dogecoin Makes a Comeback: $10 in Sight as Bull Run Echoes 2020 Surge</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the recent surge of altcoins, <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">Dogecoin (DOGE)</a> momentarily took a back seat, but now it’s making a comeback with potential excitement on the horizon. Analysts are pointing to similarities between its recent performance and the significant 2021 bull run, suggesting a possibility of DOGE hitting $10 in the upcoming bull market.</p> 
<p>Here’s what you need to know about the massive return! </p> 
<h2 class="wp-block-heading" id="h-ali-martinez-s-insights">Ali Martinez’s Insights</h2> 
<p>Crypto analyst Ali Martinez, known for her market insights, has identified intriguing similarities between Dogecoin’s recent price movements and those observed in 2020.</p> 
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   <p lang="en" dir="ltr">The price action of <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> is showing familiar patterns reminiscent of its 2020 behavior. Back then, <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> broke out from a descending triangle, entered a period of consolidation, and then skyrocketed by 28,770%. <br><br>Currently, <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> appears to be mirroring this pattern: having… <a href="https://t.co/69yXnlYRJd">pic.twitter.com/69yXnlYRJd</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1760921211251425472?ref_src=twsrc%5Etfw">February 23, 2024</a>
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<p>This historical parallel hints at a potential repetition of patterns, similar to how DOGE broke out in 2020, entered consolidation, and then surged by a staggering 28,770%.</p> 
<p>History seems to be repeating itself as Dogecoin breaks out of a descending triangle and enters a consolidation phase once again. Analysts believe this phase might be laying the groundwork for the next bull run, fostering expectations of exciting price movements.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/shiba-inu-and-dogecoin-price-prediction-chatgpt-forecasts-massive-gains-for-both/">Shiba Inu and Dogecoin Price Prediction: ChatGPT Forecasts Massive Gains For Both</a></p> 
<h2 class="wp-block-heading" id="h-battling-the-key-resistance">Battling the Key Resistance </h2> 
<p>Despite optimism, the <a href="https://coinpedia.org/traders/what-is-bollinger-band-in-crypto-trading/">Bollinger Bands</a> technical indicator highlights a challenge. Bulls are facing substantial resistance around $0.089. If this hurdle is overcome, it could trigger a noteworthy bullish surge, potentially aiming for the anticipated Dogecoin price target of $0.1.</p> 
<p>Investors have long hoped for Dogecoin to reach $1. In the last bull run, DOGE hit an all-time high of 66 cents but later corrected nearly 90%. Currently trading at <a href="https://markets.coinpedia.org/dogecoin/">$0.083</a> with a market cap of $12.05 billion, Dogecoin maintains its position above the 20-day Simple Moving Average (SMA).</p> 
<h2 class="wp-block-heading" id="h-watch-the-whales-in-action">Watch the Whales in Action!</h2> 
<p>Recent on-chain data sheds light on a unique strategy by Dogecoin’s strategic whale investors during the recent market dip. Instead of following the trend of selling off assets, a specific group of whales, each holding at least 10 million DOGE tokens (about ~$800,000), has chosen to accumulate.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/doge-shib-and-floki-price-analysis-why-should-you-buy-meme-coins-right-now/">DOGE, SHIB and FLOKI Price Analysis: Why Should You Buy Meme Coins Right Now?</a></p> 
<p>Santiment also reveals a cumulative Dogecoin whale balance surpassing an impressive 15 billion DOGE tokens.</p>

Dogecoin Makes a Comeback: $10 in Sight as Bull Run Echoes 2020 Surge

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