Dogecoin

2024

Cardano

<p>The post <a href="https://coinpedia.org/price-analysis/bullish-breakout-dogecoin-price-prediction-for-august-2024/" rel="noopener noreferrer nofollow">Bullish Breakout! Dogecoin Price Prediction For August 2024</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>On August 24, 2024, Dogecoin (DOGE), the world’s biggest meme coin gained massive attention from investors and traders following its consolidation breakout. In the last 18 days, DOGE had been moving in a tight range between $0.094 and $0.108 level.</p>
<h2 class="wp-block-heading" id="h-bullish-breakout-in-dogecoin-nbsp"><strong>Bullish Breakout in Dogecoin&nbsp;</strong></h2>
<p>However, due to the potential interest rate cut announcement by <a href="https://coinpedia.org/news/fed-chair-powells-time-has-come-for-rate-cut-fuels-crypto-rally/" rel="noopener noreferrer nofollow">Jerome Powell</a>, it experienced a significant breakout.&nbsp;</p>
<h2 class="wp-block-heading" id="h-doge-price-prediction-nbsp"><strong>DOGE Price Prediction&nbsp;</strong></h2>
<p>With this breakout, DOGE’s outlook has turned bullish despite trading below the 200 Exponential Moving Average (EMA) on a daily time frame. According to expert technical analysis, there is a high possibility that DOGE could soar by over 15% to the $0.13 level in the coming days or even higher.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-1024x448.png" alt="" class="wp-image-342160" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/24013530/DOGEUSDT_2024-08-24_01-35-10.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>
<p>However, another <a href="https://x.com/TATrader_Alan/status/1826986013803122972" target="_blank" rel="noopener noreferrer nofollow">crypto expert</a> made a post on X (previously Twitter) stating that the DOGE meme coin is moving into the 3rd phase of the bullish cycle and experiencing a consolidation along the trendline. This is very similar to phases one and two. Additionally, whenever this consolidation occurs on the trendline, the DOGE price tends to skyrocket significantly, and this time DOGE could rise to the $2 or $4.5 level.&nbsp;</p>
<h2 class="wp-block-heading" id="h-doge-s-rising-open-interest-and-price-analysis-nbsp"><strong>DOGE’s Rising Open Interest and Price Analysis&nbsp;</strong></h2>
<p>At press time, DOGE is trading near $0.113 and has experienced a price surge of over 8% in the last 24 hours. Meanwhile, its trading volume has increased by 70% during the same period, indicating higher participation from traders due to the recent breakout and Powell’s fed rate cute announcement.&nbsp;</p>
<p>Whereas, DOGE’s open interest has also increased by 9% in the last 24 hours and continues to rise, according to the on-chain analytic firm CoinGlass. This increase in open interest suggests growing interest from traders and investors.&nbsp;</p>
<p>Apart from DOGE, the overall cryptocurrency landscape is up by 4.6% in the last 24 hours. However, top assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA) have experienced a notable price surge of over 5.6%, 5.3%, 5%, and 5%, respectively, in the last 24 hours.&nbsp;</p>

Bullish Breakout! Dogecoin Price Prediction For August 2024

Table of Contents

CoinPedia News

Other articles published on Aug 24, 2024

Polygon’s Community Discord Channel Compromised, Users Misled By Scammers As Support Agents

Cardano Big Date Announced

WazirX Criticizes External Forces Delaying Restructuring Plans

What is Story Protocol?

Tether Helped Recover Over $108.8 Million in USDT Linked Fraud

Are Locked Tokens the Key to Understanding Future GameFi Market Moves?

Join our free newsletter for daily crypto updates!