Dogecoin

<div class="finbold">
 <p class="paragraph">Dogecoin (DOGE), the popular meme coin, is currently trading near a <a rel="noopener noreferrer nofollow" title="crucial" href="https://thebittimes.com/tag/crucial.html">crucial</a> <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> zone between $0.146 and $0.151.&nbsp;</p>
 <p class="paragraph">This price range is being closely watched by analysts, as a break below it could signal further bearish movement. Crypto analyst, pseudonymously known as <em>BitLuxe</em><em>, </em>stated in a X (formerly Twitter) post on April 16:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Consider a long position with tight stop loss, but watch for bearish signs below this zone,” the expert noted.</p>
 </blockquote>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Biden vs. Trump in crypto: This is how ‘Boden’ fares against Trump Cards <span class="self-center text-xs text-slate-500">17 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    2 cryptocurrencies to reach $1 billion market cap in April <span class="self-center text-xs text-slate-500">48 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin’s new resistance and <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> levels to watch this week <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    1inch Swap API now integrated by Magic Square, with Swap Competition on the way <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image size-full"><img decoding="async" width="1024" height="446" src="https://cdn.thebittimes.com/images/2024/04/16/e28e5a7ff153c2365936db5698740d34.webp" alt class="wp-image-169402" srcset="https://cdn.thebittimes.com/images/2024/04/16/e28e5a7ff153c2365936db5698740d34.webp 1024w, https://cdn.thebittimes.com/images/2024/04/16/e28e5a7ff153c2365936db5698740d34.webp 300w, https://cdn.thebittimes.com/images/2024/04/16/e28e5a7ff153c2365936db5698740d34.webp 768w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE price chart. Source: <em>X</em>
  </figcaption>
 </figure>
 <p class="paragraph">The cryptocurrency analyst’s post also highlights that if the current <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> fails to hold, Dogecoin could find its next potential <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> level at $0.122-$0.13.</p>
 <p class="paragraph">&nbsp;Conversely, a climb above its current resistance zone of $0.168-$0.173 by DOGE could signal a potential trend reversal towards higher prices.</p>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">Despite experiencing a temporary price increase on April 15, following Elon Musk’s tweet expressing <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> for Dogecoin, the meme coin is currently undergoing a price correction along with the broader cryptocurrency market which has wiped $140 billion from its market capitalization in the last 24 hours.</p>
 <p class="paragraph">At the press time, DOGE is trading at $0.152, reflecting a decline of 6.67% in the last 24 hours and a <a rel="noopener noreferrer nofollow" title="major" href="https://thebittimes.com/tag/major.html">major</a> 20.81% decrease over the past week.&nbsp;</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="660" height="537" src="https://cdn.thebittimes.com/images/2024/04/16/e6f9cf8206e940bce244e81d0d51fc94.webp" alt class="wp-image-169403" srcset="https://cdn.thebittimes.com/images/2024/04/16/e6f9cf8206e940bce244e81d0d51fc94.webp 660w, https://cdn.thebittimes.com/images/2024/04/16/e6f9cf8206e940bce244e81d0d51fc94.webp 300w" sizes="(max-width: 660px) 100vw, 660px">
  <figcaption class="wp-element-caption">
   DOGE 7-day stock price chart. Source: <em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Looking at the technical indicators spells out a decidedly bearish sentiment with an overall ‘sell’ rating. Moving average, along with oscillators, point toward a ‘sell.’</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="270" src="https://cdn.thebittimes.com/images/2024/04/16/3befda1ffbefa7122ea0a80d2440b78e.webp" alt class="wp-image-169404" srcset="https://cdn.thebittimes.com/images/2024/04/16/3befda1ffbefa7122ea0a80d2440b78e.webp 1024w, https://cdn.thebittimes.com/images/2024/04/16/3befda1ffbefa7122ea0a80d2440b78e.webp 300w, https://cdn.thebittimes.com/images/2024/04/16/3befda1ffbefa7122ea0a80d2440b78e.webp 768w, https://cdn.thebittimes.com/images/2024/04/16/3befda1ffbefa7122ea0a80d2440b78e.webp 1397w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Technical indicators for DOGE stock. Source: <em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">The recent price volatility illustrates Dogecoin’s sensitivity to external factors, including broader market trends and, as evidenced by the recent surge, like Elon Musk’s tweet.&nbsp;&nbsp;</p>
 <p class="paragraph">Looking ahead, potential integration with Musk’s company X digital payment services could provide a long-term boost.&nbsp;</p>
 <p class="paragraph">Furthermore, the upcoming Bitcoin halving, which historically reduces supply and increases Bitcoin’s price, could indirectly benefit DOGE by raising the entire cryptocurrency market.</p>
 <p class="paragraph"><br><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/doge-trades-near-crucial-support-crypto-expert-eyes-major-buy-opportunity-tbt85510.html">https://thebittimes.com/doge-trades-near-crucial-support-crypto-expert-eyes-major-buy-opportunity-tbt85510.html</a></p>

DOGE trades near crucial support; Crypto expert eyes major ‘buy’ opportunity

Table of Contents

TheBitTimes

Other articles published on Apr 16, 2024

Uncovering the halving’s impact on Bitcoin’s inflation rate and store of value proposition

Beginner’s Guide to Web3 Security: Navigating Wallet Types and Risks

Bitcoin’s Surging Transaction Fees and Hash Rate as Halving Nears

Massive Profits Incoming On $ROE Presale As Investors Swarm In From DOGE And SHIB Communities

ONDO Price Prediction: Is ONDO Finance Ready to Make History

OKX Launches New Layer 2 Network, X Layer

Join our free newsletter for daily crypto updates!