2024

Dogecoin

April

Elon Musk

<div class="finbold">
 <p class="paragraph">Meme cryptocurrency Dogecoin (DOGE) is currently exhibiting a bullish bias, consolidating its price above the $0.15 support zone amid short-term positive market sentiment.&nbsp;</p>
 <p class="paragraph">This comes as the Dogecoin community anticipates the coin maintaining this position, potentially driving its valuation towards the $1 mark.</p>
 <p class="paragraph">Notably, this milestone appears achievable based on an <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by crypto trading expert <em>Ali Martinez </em>in an X (formerly Twitter) post on April 20. <em>Martinez </em>highlighted that Dogecoin has formed a historical <a rel="noopener noreferrer nofollow" title="classic" href="https://thebittimes.com/tag/classic.html">classic</a> <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a>, suggesting a possible significant <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a>.&nbsp;</p>
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   <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"> 
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 <p class="paragraph">He observed that the familiar pattern for DOGE emerged after breaking out from a descending triangle formation, often a precursor to substantial price movements. <em>Martinez </em>suggested that Dogecoin’s consolidation following its breakout could signal the beginning of a notable upswing.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="346" src="https://cdn.thebittimes.com/images/2024/04/21/4906426d3f4441a7a3a81c6cad1a01bd.webp" alt class="wp-image-170664" srcset="https://cdn.thebittimes.com/images/2024/04/21/4906426d3f4441a7a3a81c6cad1a01bd.webp 680w, https://cdn.thebittimes.com/images/2024/04/21/4906426d3f4441a7a3a81c6cad1a01bd.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>Dogecoin price analysis chart. Source: TradingView/Ali_charts</em>
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 <blockquote class="wp-block-quote">
  <p class="paragraph">“Dogecoin is showing its classic pattern once again! $DOGE is currently consolidating after breaking out from a descending triangle.Based on past trends, we might just see DOGE rocket towards $1 in the coming weeks!,” the expert said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-doge-s-buy-signal">DOGE’s buy signal</h2>
 <p class="paragraph">Additionally, in a previous analysis, Martinez had observed that technical indicators suggested that Dogecoin’s TD Sequential point flashed a buy signal on the daily chart.&nbsp;</p>
 <p class="paragraph">The TD Sequential indicator is used to identify potential trend reversals or continuation <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a>s in the market. When the indicator generates a buy signal, it suggests that a sequence of candlesticks has met specific criteria, suggesting a potential bullish movement in the near term.</p>
 <p class="paragraph">This signal indicates the potential for an upswing lasting one to four days for the popular meme-based cryptocurrency.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">The TD Sequential has flashed a buy signal on the #Dogecoin daily chart, indicating a potential upswing of one to four days for $DOGE! pic.twitter.com/GOmTCp0wCw</p>— Ali (@ali_charts) April 20, 2024
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 <p class="paragraph">Should Dogecoin sustain its upward momentum and breach the $1 mark, it would represent a significant milestone for the cryptocurrency, though further bullish momentum would likely be necessary. Notably, Dogecoin’s recent gains coincide with the Bitcoin halving event, considered a bullish sentiment.&nbsp;</p>
 <p class="paragraph">Overall, Dogecoin has gained a reputation for trading in tandem with Bitcoin, and if the post-halving bullish sentiment materializes, the meme coin could have a better chance of rallying, confirming the <a rel="noopener noreferrer nofollow" title="classic" href="https://thebittimes.com/tag/classic.html">classic</a> <a rel="noopener noreferrer nofollow" title="pattern" href="https://thebittimes.com/tag/pattern.html">pattern</a>.</p>
 <p class="paragraph">Dogecoin also continues to benefit from support from figures such as Tesla (NASDAQ: TSLA) CEO Elon Musk and community initiatives. For instance, during Bitcoin’s halving day, the Dogecoin community celebrated Dogecoin Day, a social media campaign aimed at raising awareness and boosting the value of Dogecoin.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Happy doge day to all #dogecoin #hodlers Let's all buy some doge to celebrate this day! We won't see this price for long! #dogecointothemoon pic.twitter.com/cVfwWSIEOp</p>— Matthew Bonnici XĐ (@matbon1982) April 20, 2024
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 </figure>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">Regarding price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, Dogecoin is striving to surpass resistance at the $0.17 level. Breaking this level could pave the way for the meme coin to reach $0.18, and in an exceptionally bullish scenario, it could even target the psychological level of $0.2.</p>
 <p class="paragraph">However, if Dogecoin fails to breach the $ 0.20 level, it may face rejection, potentially retracing to around $0.12, where it could find support.</p>
 <p class="paragraph">Meanwhile, by press time, Dogecoin was trading at $0.16019, having experienced a rally of over 3% in the last 24 hours. On a weekly timeframe, the meme coin has seen gains of over 6%.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/21/94c532ef3f1fcfe6f870dd6f12ca4b8d.webp" alt class="wp-image-170665" srcset="https://cdn.thebittimes.com/images/2024/04/21/94c532ef3f1fcfe6f870dd6f12ca4b8d.webp 675w, https://cdn.thebittimes.com/images/2024/04/21/94c532ef3f1fcfe6f870dd6f12ca4b8d.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Dogecoin seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">With the Dogecoin community still working on establishing strong fundamentals, the coin’s prospects of rallying hinge on the general market trajectory.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;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/dogecoin-prediction-doge-paints-classic-pattern-ahead-of-breakout-tbt85943.html">https://thebittimes.com/dogecoin-prediction-doge-paints-classic-pattern-ahead-of-breakout-tbt85943.html</a></p>

Dogecoin prediction; DOGE paints classic pattern ahead of breakout

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