Dogecoin

Million

Dogecoin (DOGE) the top meme coin with a market cap of $15.69 Billion, ranked 9th in the top 10 by market cap. 
In the past couple of days, BTC tried to sustain after plunging below $55000. On the other hand, Dogecoin Price tried to sustain near the $0.0973 support level. 
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 <img loading="lazy" decoding="async" width="1024" height="547" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-1024x547.png" alt="Dogecoin Price " class="wp-image-597801" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-1536x820.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-150x80.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-696x372.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10-1068x570.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-10.png 1567w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Dogecoin Price vs /BTC Price 1.D. | Source: TradingView
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The <a href="https://www.thecoinrepublic.com/2024/07/03/daddy-ponke-and-hoppy-three-memecoins-to-watch-this-week/">memecoin</a> has resonated with the price activity of the market leader. At press time, DOGE was trading at $0.10775 with an intraday gain of 1.10% reflecting the presence of bulls at the support.&nbsp; 
<h2 class="wp-block-heading" id="h-dogecoin-price-on-chain-overview">Dogecoin Price: On-Chain Overview</h2> 
The total number of addresses holding DOGE in balance has been increasing, total addresses have reached 6.52 Million. Meanwhile, the average time that DOGE stayed at an address before it was transferred was around 2.3 years. The concentration of whales in DOGE stands at 41.47%, with nearly 64.26 Billion. 
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 <img loading="lazy" decoding="async" width="1024" height="298" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-1024x298.png" alt="In/out of the Money | Source: IXFI" class="wp-image-597796" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-1024x298.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-300x87.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-768x223.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-1536x446.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-150x44.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-696x202.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9-1068x310.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-9.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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 In/out of the Money | Source: IXFI
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Furthermore, the in/out of the money chart highlights the data of holders’ money based on the losses, profits, and breakeven, on comparing it with the purchased price and current price.&nbsp; 
Thus, it shows that the addresses holding profit stands at 4.65 Million with a 73.06% jump. Meanwhile, the losses are with 1.64 Million addresses, which makes 25.76%, and at breakeven are 1.18% with 75.06K addresses. 
<h2 class="wp-block-heading" id="h-analysts-are-expecting-3x-gains-in-doge">Analysts are Expecting 3x Gains in DOGE</h2> 
An analyst @cryptoAM17 has shared positive thoughts related to the Dogecoin (DOGE) price. Where he shared a weekly TF graph image of DOGE on X via a tweet post. 
In the shared graph, he expressed a deeper prediction, where he shared certain levels where the reclaiming $0.12 and $0.16 could register 3x gains in the price of DOGE up to $0.34. 
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 <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> Reclaim $0.12 –&gt; $0.16 –&gt; $0.34 <a href="https://t.co/Osd3rMbDZX">pic.twitter.com/Osd3rMbDZX</a>— CryptoAM17 (@CryptoAM17) <a href="https://twitter.com/CryptoAM17/status/1810335706293649684?ref_src=twsrc%5Etfw">July 8, 2024</a>
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 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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Over, the structure shared on the weekly chart by the analyst @cryptoAM17 also seemed like the accumulation seems to have been completed, and after a brief surge, the price has taken one step back to build a pullback and send DOGE to the moon, again. 
<h2 class="wp-block-heading" id="h-deciphering-the-daily-chart-of-doge">Deciphering the Daily Chart of DOGE</h2> 
The daily chart has built a falling wedge, and a breakout seems to be anticipated, contingent on the bulls’ interest in DOGE. Memecoins have demonstrated bulls’ presence at $0.09733 on the daily chart. 
Based on the situation, if DOGE successfully crosses $0.12, it could lead to a sustainable and remarkable rally. Meanwhile, the price has mobilized from the lower boundary of the wedge to overcome the dynamic upper trendline resistance level and ascend to new elevations.  
<a href="https://www.tradingview.com/chart/DOGEUSD/k9etHYr0-Dogecoin-price-action/">Dogecoin price action</a> by <a href="https://www.tradingview.com/u/Sam_TCR/">Sam_TCR</a> on <a href="https://www.tradingview.com/">TradingView.com</a>  
The indicators, at a glance, show that the MACD below zero line, dynamic resistances of EMA bands shook off the price, and RSI flashed at 36.94, signifying the bulls presence. 
Therefore, if the sustenance on $0.09733 gets followed by the bulls’ interest, the nearest resistance would be at $0.1282, and $0.1747, respectively. 
However, if DOGE loses traction on the $0.09733, the deterioration could stretch toward the $0.05729 level.&nbsp; 
DOGE has been showing signs of a bullish presence despite the overall market slump. Analysts predict a potential 3x gain if it can reclaim above $0.12. The technical indicators also suggest a possible breakout if bulls remain interested. 
The post <a href="https://www.thecoinrepublic.com/2024/07/10/can-dogecoin-price-do-3x-gains-heres-what-analysts-say/">Can Dogecoin Price Do 3x Gains? Here’s What Analysts Say</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Can Dogecoin Price Do 3x Gains? Here’s What Analysts Say

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