Dogecoin

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<p>Dogecoin (DOGE) is expected to come across major resistance zones in the process as it moves upwards. A well-known market analyst familiar with Dogecoin under the pseudonym MadWhale said DOGE may try to hit the first barrier at $0.23, and then move to $0.34. </p> 
<p>As highlighted by the analyst, these levels have acted as a resistance. Dogecoin price has not been able to hold above this level for over a year now.</p> 
<p>In addition, it has always faced selling pressure at the $0.23 resistance level. Nevertheless, <a href="https://www.thecoinrepublic.com/2024/11/06/dogecoin-doge-warming-up-for-first-golden-cross-since-q4-2020/">DOGE price</a> momentum supported by high trading volumes and upbeat investor sentiment implies that a move past this level could see DOGE post new all-time highs. </p> 
<p>If Dogecoin does manage to overcome the $0.23 resistance level, the next significant hurdle is $0.34. DOGE price has not seen this level since the previous cryptocurrency bull run in 2021.</p> 
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   Source: MadWhale
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<h2 class="wp-block-heading" id="h-market-movement-and-short-term-price-outlook"><strong>Market Movement and Short-Term Price Outlook</strong></h2> 
<p>DOGE has been making steady gains in the past month. After starting at $0.1065, it peaked at $0.1913, translating to a 81.19% improvement. </p> 
<p>Nonetheless, in the last one day, it went through a correction. The asset’s price dropped by 4.52% and it traded at around $0.1866. </p> 
<p>This recent plunge has led to reduction in its market capitalization to $27.66 billion. It has also led to reduced trading volume of 24% to $5.07 billion.</p> 
<p>Nevertheless, MadWhale remains bullish because DOGE’s bulls have held the $0.08-support level on the 12-hour chart. This support trendline has aided the <a href="https://www.thecoinrepublic.com/2024/11/06/dogecoin-surges-to-0-1679-amid-whale-activity-and-bullish-momentum/">DOGE price recent rally move,</a> and the analyst believes that touching this area could consolidate around $0.17. </p> 
<p>This will affirm the bulls key level upheld which will pave way for Dogecoin push past the $0.23 across to a 82% further hike towards $0.34.</p> 
<h2 class="wp-block-heading" id="h-analyst-insights-key-price-levels-to-monitor-for-dogecoin"><strong>Analyst Insights: Key Price Levels to Monitor for Dogecoin</strong></h2> 
<p>As per MadWhale’s analysis, other experts in the industry have also given their prognosis which also suggests that the <a href="https://www.thecoinrepublic.com/price-prediction/dogecoin/">price of Dogecoin</a> will remain bullish. The $0.23 and the $0.34 being seen as significant supply zones which may define Dogecoin’s direction in the short term. </p> 
<p>Typically these levels acted as price barriers during previous rallies and in particular sellers have been dominant on the buyers. Nevertheless, there are current market conditions that may help in a breakout occurring as shown below.</p> 
<p>The next resistance level for the meme coin will be at $0.34 should the $0.23 level is conquered. The analysts see this as a magic number that would indicate that the coin is ready for a continuous bull run. As mentioned earlier, the $0.34 resistance level has the potential to grow by 82%&nbsp; from its current value.</p> 
<h2 class="wp-block-heading" id="h-other-projections-on-dogecoin-s-potential-growth"><strong>Other Projections on Dogecoin’s Potential Growth</strong></h2> 
<p>Outside of MadWhale, there are other notable figures within the market that have given equally optimistic outlooks for DOGE. </p> 
<p>Peter Brandt, a long-time market analyst, pointed out that at the moment DOGE shows a deviation from the multi-month descending triangle pattern, it means that it could start going up. </p> 
<p>Brandt’s observations have helped build the anticipation on Dogecoin and, as many analysts view this breakout as the DOGE price heading to new highs.</p> 
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   <p lang="en" dir="ltr">In Musk we Trust<a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> confirms channel breakout with massive underlying price accumulation and new ATHs around the corner <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> <a href="https://t.co/tiEjke1in0">pic.twitter.com/tiEjke1in0</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1854126615011197139?ref_src=twsrc%5Etfw">November 6, 2024</a>
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<p>On the other hand, other experienced analysts like Ali Martinez expect much bigger outcomes. As Martinez pointed out, based on previous performance, DOGE price could reach new all time high. Based on his Doge analysis Dogecoin could reach somewhere between $4 and $23 values.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/09/market-analyst-expects-doge-price-to-retest-0-23-before-major-breakout/">Analyst Expects DOGE Price To Retest $0.23 Before Major Breakout</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Analyst Expects DOGE Price To Retest $0.23 Before Major Breakout

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