Dogecoin

2024

Joe Biden

Donald Trump

<div class="finbold"><p class="paragraph">Meme cryptocurrency Dogecoin (DOGE) has weathered recent bearish sentiment as it strives to breach key resistance levels.</p><p class="paragraph">Indeed, Dogecoin aims to claim the $0.20 mark, and crypto trading expert Michaël van de Poppe believes investors should brace themselves for significant upside potential in the current <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/cycle.html">cycle</a>.</p><p class="paragraph">In an X post on May 31, Poppe projected that the token is poised for a massive breakout in the future, potentially resulting in a price surge of approximately 525% to reach the coveted $1 mark.&nbsp; Notably, the $1 threshold has long been a target price for the meme cryptocurrency.</p><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" id="picks-for-you">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"> Veteran trader predicts Bitcoin could soon match 100 ounces of Gold <span class="self-center text-xs text-slate-500">1 hour 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"> Joe Biden steps back, vetoes crypto bill after Trump conviction <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"> Bitcoin <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/price.html">price</a> explosion: Chart patterns identify explosive BTC levels to watch <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"> Ethereum or Solana? We asked ChatGPT-4o which web3 crypto is a better buy for 2024 <span class="self-center text-xs text-slate-500">20 hours ago</span></div></div></div><div class="mb-4 bg-slate-50 rounded-md layout-adjustment"><div id="finbold.com_middle"></div></div><blockquote class="wp-block-quote"><p class="paragraph">“This is such an easy play. I think we’ll be seeing a <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/massive.html">massive</a><a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/breakout.html">breakout</a> of this one, and it might even be possible to reach $1 again this <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/cycle.html">cycle</a>,” he said.&nbsp;</p></blockquote><figure class="wp-block-image aligncenter size-full"><img width="680" height="368" src="https://cdn.thebittimes.com/images/2024/06/01/b5c8ba13acbd28aa759fd566a038fcbe.webp" alt="" class="wp-image-180041"><figcaption class="wp-element-caption"><em>Dogecoin price analysis chart. Source: TradingView/Michael Poppe</em></figcaption></figure><h2 class="wp-block-heading" id="h-dogecoin-s-rising-whale-activity-nbsp">Dogecoin’s rising whale activity&nbsp;</h2><p class="paragraph">Poppe’s analysis comes amidst a flurry of activity in the Dogecoin market, with notable developments fueling growing investor interest.</p><p class="paragraph">In this regard, crypto analyst Ali Martinez highlighted in an X post on May 31 that DOGE whales have acquired over 700 million DOGE in the past 72 hours, amounting to approximately $112 million.&nbsp;</p><p class="paragraph">This surge in investment from large holders indicates strong confidence in Dogecoin’s potential for future growth.</p><figure class="wp-block-image aligncenter size-full"><img width="680" height="318" src="https://cdn.thebittimes.com/images/2024/06/01/566713e4c41277d681f3d2e1e2a2bfb4.webp" alt="" class="wp-image-180043"><figcaption class="wp-element-caption"><em>Dogecoin price analysis chart. Source: Ali_Charts</em></figcaption></figure><p class="paragraph">Initially, Martinez observed that DOGE had turned bearish while pointing out key levels to monitor. According to the analyst, Dogecoin faces significant resistance between $0.166 and $0.171. Breaking through this barrier could propel the price towards the resistance level of around $0.322.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>#Dogecoin is encountering significant resistance between $0.166 and $0.171, where 75,500 addresses have acquired nearly 10 billion $DOGE. However, once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322 pic.twitter.com/p02Cks63EI</p>— Ali (@ali_charts) May 28, 2024 </blockquote></div></figure><p class="paragraph">While attention is focused on the recent whale transactions involving Dogecoin, scrutiny is also directed toward the coin’s proponents, particularly Tesla (NASDAQ: TSLA) CEO Elon Musk.&nbsp;</p><p class="paragraph">Notably, the spike in Dogecoin whale transactions coincided with reports suggesting Musk was advising presidential candidate Donald Trump on cryptocurrencies.</p><p class="paragraph">However, contrary to these reports, Musk stated that he and the former president have never discussed crypto policy.</p><blockquote class="wp-block-quote"><p class="paragraph">“Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do,” Musk remarked.</p></blockquote><h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2><p class="paragraph">By press time, Dogecoin was trading at $0.16, reflecting a correction of over 1% in the last 24 hours. On the weekly chart, the meme coin is down by 4%.</p><figure class="wp-block-image aligncenter size-full"><img width="675" height="550" src="https://cdn.thebittimes.com/images/2024/06/01/9a13a56060f8a682c98250bd457c7877.webp" alt="" class="wp-image-180044"><figcaption class="wp-element-caption"><em>Dogecoin seven-day price chart. Source: Finbold</em></figcaption></figure><p class="paragraph">Despite this short-term price correction, Dogecoin’s technical indicators are predominantly bullish. One-day gauges from <em>TradingView</em> summarize a ‘buy’ sentiment at 11, consistent with the sentiment reflected in moving averages, which gauge at 9. On the other hand, oscillators for the coin are ‘neutral’ at 8.</p><figure class="wp-block-image aligncenter size-large"><img width="1024" height="197" src="https://cdn.thebittimes.com/images/2024/06/01/da8b208da5afd7ff14a23de084afe50f.webp" alt="" class="wp-image-180045"><figcaption class="wp-element-caption"><em>Bitcoin technical analysis. Source: TradingView</em></figcaption></figure><p class="paragraph">As things stand, DOGE has a considerable journey ahead to reach the $1 mark. Given that the two assets have historically traded in tandem, achieving this milestone will likely require substantial support from Bitcoin.</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" href="https://thebittimes.com/expert-sets-dogecoin-price-for-this-market-cycle-expects-massive-breakout-tbt90846.html">https://thebittimes.com/expert-sets-dogecoin-price-for-this-market-cycle-expects-massive-breakout-tbt90846.html</a></p>

Expert sets Dogecoin price for this market cycle, expects ‘massive breakout’

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