X Payments

Dogecoin

Dogecoin Price: The crypto market is wavering in uncertainty as <a href="https://coingape.com/blog/bitcoin-halving-history-chart-analysed/" rel="noopener noreferrer nofollow">Bitcoin</a> price struggles to sustain a reversal from $60000. The overhead supply has limited growth in several of the major altcoins but not Dogecoin. The Dog-themed has recently rebounded from the 61.8% Fibonacci retracement level and has surged nearly 40% in 4 days to current trade at $0.17. Will this momentum persist to surpass $0.22?
Also Read:<a href="https://coingape.com/markets/3-lesser-known-dogecoin-killers-to-buy-as-cryptos-cascade-in-march/" rel="noopener noreferrer nofollow"> 3 Lesser Known Dogecoin ‘Killers’ To Buy As Cryptos Cascade In March</a>
<h2 id="b-musk-s-x-payments-expansion-fuels-dogecoin-price-surge-towards-key-breakout-b">Musk’s X Payments Expansion Fuels Dogecoin Price Surge Towards Key Breakout</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/c/CcLMtVko.png" alt="BINANCE:DOGEUSDT Chart " width="1946" height="937">
 <figcaption class="wp-caption-text">
 Dogecoin Price| Tradingvieww
 </figcaption>
</figure>
An analysis of the daily time frame shows the <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> correction is strictly resonating between two converging trendlines, which hints at the formation of a pennant pattern. This chart setup is often spotted between an established uptrend as it signals occasional pullback for buyers to regain strength.
<blockquote>
 During the mid-week, the DOGE price witnessed a notable inflow which resulted in a recovery leap from $0.122 to $0.177. This upswing is likely influenced by the progress in Elon Musk’s financial service X Payments, which has successfully expanded its operational footprint by obtaining money transmission licenses in Illinois, New Mexico, and Oregon.&nbsp;
</blockquote>
The acquisition of these licenses has sparked renewed discussions about the potential for incorporating cryptocurrencies like <a href="https://coingape.com/trending/doge-millionaire-tips-reddit-themed-memecoin-to-outrun-ipo/" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a> into the social network’s ecosystem.
With an intraday gain of 11.6%, the DOGE price is likely to challenge the pennant pattern’s upper trendline. A breakout above the structure would signal the resumption of recovery by providing buyers with suitable support.&nbsp;
The post-breakout rally may push the Dogecoin price 46% higher to hit $0.26, registering a potential gain of 48.6.%.&nbsp;
Also Read: <a href="https://coingape.com/dogecoin-price-rallies-as-doge-whale-transactions-surge-600-in-a-month/" rel="noopener noreferrer nofollow">Dogecoin Price Rallies As DOGE Whale Transactions Surge 600% in a Month.</a>
<h2 id="b-technical-indicator-b">Technical Indicator</h2>
<ul>
 <li>Bollinger Band: A squeezed range of Bollinger Band indicators reflects increasing volatility in this asset.</li>
 <li>Relative Strength Index: The <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">daily</a> slope above 50% reflects the buyers continue to have an upper hand over sellers.</li>
</ul>
The post <a href="https://coingape.com/markets/will-dogecoin-price-recovery-hit-0-2-by-march-end/" rel="noopener noreferrer nofollow">Will Dogecoin Price Recovery Hit $0.2 By March End?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Will Dogecoin Price Recovery Hit $0.2 By March End?

Table of Contents

Coingape News Media

Other articles published on Mar 23, 2024

Ethereum Shows Strength Despite Market Woes: IntoTheBlock Data Points to Bullish Sentiment

Bitcoin ETF demand could rise as prices drop — CryptoQuant CEO

BlastUP The Investment Phenomenon Captivating the Crypto World

SPELL Looks Bearish: Are Sellers Intending To Drag SPELL Price?

6 Best Altcoins to Invest in Right Now March 22 – Fantom, Stacks, Arweave

Shiba Inu, PEPE Coin, or Bitgert Coin: Making the Right Choice

Join our free newsletter for daily crypto updates!