Dogecoin

Elon Musk

The meme coin exhibited a strong remarkable recovery following the crash in cryptocurrency prices earlier this week. However, DOGE, the leading asset in the sector appears to be dragging its recovery, up only 2% in 24 hours. Should bulls wish to sustain the uptrend, they must focus on pushing <a href="https://coingape.com/price/dogecoin">Dogecoin price</a> above the $0.15 resistance. This move will unanimously unite traders for an extended recovery to the short-term target of $0.2. 
<h2 id="span-style-font-weight-400-dogecoin-price-aims-eyes-79-breakout-span">Dogecoin Price Aims Eyes 79% Breakout</h2> 
<img decoding="async" class="aligncenter size-full wp-image-202102" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53.jpeg" alt="Dogecoin Price " width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-13-at-09.28.53-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
<a href="https://coingape.com/price-predictions/dogecoin-doge-price-prediction/">DOGE price</a> has been in a giant descending triangle for the past 4 months. Descending triangles are generally not bullish but have a 34% probability of breaking to the upside. Dogecoin price action is trending below the 50-day but above the 200-day simple moving averages (SMA). This indicates a tussle between the bears and the bulls. The Relative Strength Index (<a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a>) is currently at 46, acting as support. 
The price of the dog-themed meme coin is approaching the end of the descending triangle and soon it may be decision time. There is strong support around the $0.12–$0.13 area that may hold up the price. This support level has been tested three times in the last four months, making it robust.&nbsp; 
A breakout to the upside may result in a 79% surge in price that pushes DOGE to $0.27. This will be the highest price DOGE has hit in three years. Conversely, if DOGE breaks out to the downside, key support levels exist around $0.12, $0.09, and $0.07. 
<h2 id="span-style-font-weight-400-dogecoin-price-future-outlook-span">Dogecoin Price Future Outlook</h2> 
The king of meme coins sits at a $20 billion market cap, with trading volume up 7% in the last 24 hours. This signals increasing interest among investors. A month ago, Elon Musk added DOGE as one of the payment methods for Tesla, causing its price to surge. 
The price of DOGE has also been influenced by a recent rumor that Musk plans to integrate the meme coin into the X platform. Musk posted an animation from DogeDesigner showing a merge between his former payments platform X and the X social media app. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The circle will be complete <a href="https://t.co/QkT7K9QBJF">pic.twitter.com/QkT7K9QBJF</a> 
 — Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1772182969253298680?ref_src=twsrc%5Etfw">March 25, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<a rel="nofollow" href="https://blog.x.com/en_us/topics/company/2023/transforming-the-global-town-square">Musk</a> received a money-transmitting license in January and also plans to introduce the digital payment platform later this year. These events may directly, or indirectly heavily impact the price of DOGE. 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
DOGE is the king of <a href="https://coingape.com/trending/3-meme-coins-with-300x-potential-post-cpi-data/">meme coins</a>, and as this market matures, the <a href="https://coingape.com/markets/cryptocurrencies-to-buy-for-1000-this-week/">crypto</a> asset may lead the niche in rallying. Positive market and economic news, such as reducing interest rates and inflation, may play a big role in boosting Dogecoin price and the entire crypto market toward new highs. 
The post <a href="https://coingape.com/markets/dogecoin-price-prediction-doge-price-eyes-0-27-target-not-seen-in-three-years/">Why Is Dogecoin Price Falling Behind Meme Coins In Recovery After Crash</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Why Is Dogecoin Price Falling Behind Meme Coins In Recovery After Crash

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