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Shiba Inu

<img width="1280" height="731" src="https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35.jpg" class="attachment-full size-full wp-post-image" alt="dogecoin" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35.jpg 1280w, https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35-300x171.jpg 300w, https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35-1224x699.jpg 1224w, https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35-768x439.jpg 768w, https://coingape.com/wp-content/uploads/2024/03/photo_2024-03-06_19-04-35-150x86.jpg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
Dogecoin Price: The cryptocurrency market witnessed a surge in volatility this week as the leading cryptocurrency made a quick reversal to a new all-time high of $69000. The overhead supply sparked a new correction among altcoins including the popular <a href="https://coingape.com/trending/top-5-meme-coins-with-100x-potential-in-2024/">memecoin</a> DOGE.&nbsp; 
The Dogecoin price turned down from the $0.26 level and plunged 25% within three days to currently trade at $0.15. However, this pullback within the safety net of the Fibonacci retracement level indicates the asset is poised for higher growth. 
Also Read: <a href="https://coingape.com/markets/dogecoin-price-forecast-how-renewed-meme-coin-hype-could-charge-doge-to-1-in-march/">Dogecoin Price Forecast: How New Q1 Dog-Themed Token Hype Could Ignite DOGE Rally To $1</a> 
<h2 id="b-from-memecoin-to-millionaire-maker-what-s-next-for-doge-b">From Memecoin to Millionaire Maker – What’s Next for DOGE?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/s/sCY0g2WI.png" alt="BINANCE:DOGEUSDT Chart " width="1946" height="937">
 <figcaption class="wp-caption-text">
 Dogecoin Price| Tradingview
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</figure> 
In the last two weeks, the Meme cryptocurrencies have witnessed a heavy inflow emerging as one of the highest-performing sectors amid the recovery market. From the swing low of $0.084, the <a href="https://coingape.com/price/dogecoin/">Dogecoin price</a> surged to a two-year high of $0.26 to record 145% growth. Similarly, the fellow memecoin, Shiba inu surged 382%, the Pepe coin jumped 656%, and the Bonk price 313% in the same period. 
Currently trading at $0.155, the DOGE price seeking support at an emerging support trendline and 50% FIB level. The retracement to this degree is considered healthy for an asset to restore bullish momentum for the next leap. 
In a recent development, data from the crypto analytics firm IntoTheBlock reveals a 76% increase in the number of addresses holding over $1 million in Dogecoin in the last 30 days.&nbsp; 
This upsurge indicates a significant rise in the wealth of Dogecoin investors, with more than 1000 addresses now classified as ‘Dogecoin millionaires.’ This trend highlights increased investor confidence and a higher potential for HODL sentiment. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The number of Dogecoin millionaires is skyrocketing! The number of addresses holding more than $1m worth of <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> has increased by 76% in the last 30 days. There are now over 1000 Dogecoin millionaires. <a href="https://t.co/3qzb0OGeUM">pic.twitter.com/3qzb0OGeUM</a> 
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1765397471876784355?ref_src=twsrc%5Etfw">March 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Also Read: <a href="https://coingape.com/markets/shiba-inu-coin-dogecoin-steer-dog-themed-coins-rallies-a-good-time-to-buy-or-sell/">Shiba Inu Coin, Dogecoin Steer Dog-Themed Coins Rallies: A Good Time To Buy Or Sell?</a> 
<h2 id="b-key-support-to-watch-b">Key Support to Watch</h2> 
If the Dogecoin price manages to sustain above the combined support of ascending trendline and 50% retracement level at $.145, the buyers can witness renewed buying pressure in the market. A potential reversal may propel the <a href="https://coingape.com/press-releases/dogecoin-doge-holders-enter-dogecoin-doge-competitor-presale-priced-0-0014/">DOGE</a> price to $0.215, followed by $0.27. 
However, a breakdown below the aforementioned support may reflect a weakness in buyers’ momentum. 
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: In the 4-hour time frame chart, the 50 <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> act as strategic pullback support for buyers.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: A bearish crossover state between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a>(Blue) and signal(orange) line reflects the DOGE price entered correction in a short-term trend.</li> 
</ul> 
The post <a href="https://coingape.com/markets/will-dogecoin-price-0-2-retracement-buyers-leap/">Will Dogecoin Price Hit $0.2? Healthy Retracement Bolster Buyers for Next Leap</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Will Dogecoin Price Hit $0.2? Healthy Retracement Bolster Buyers for Next Leap

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