Dogecoin

Based

bullish

<p>Dogecoin price has displayed a decent gain on a wider time frame. It surged by 366% from October to the first week of December. </p> 
<p>However, buyers were exhausted in the first week of December and are booking profits. Amid this sell-off, the <strong>Dogecoin price</strong> has dived by 32%.</p> 
<p>The price was rising by taking support on the trendline but buyers were weak and failed to continue. The price slipped below the trendline and displayed a continuous fall. </p> 
<p>This is the strongest meme coin in terms of market value. Analysts are anticipating another bull run after the dip on a wider time frame.</p> 
<h2 class="wp-block-heading" id="h-one-more-bull-run-about-to-start-in-dogecoin"><strong>One More Bull Run About to Start in Dogecoin?</strong></h2> 
<p>Trader Tradigrade is a crypto analyst who has shared his analysis about DOGE crypto on X. He displayed the DOGE chart and commented that the Dogecoin price is rising in a pattern. </p> 
<p>Based on this pattern, the Dogecoin price could experience another bull run.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="737" height="635" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-509.png" alt="" class="wp-image-894283" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-509.png 737w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-509-300x258.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-509-150x129.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-509-696x600.png 696w" sizes="auto, (max-width: 737px) 100vw, 737px">
  <figcaption class="wp-element-caption">
   Dogecoin Price Analysis | Source: X
  </figcaption>
 </figure>
</div> 
<p>He claims that the price has completed a three-year accumulation phase and has departed from this phase. On the weekly time frame, the price witnessed a mild dip and is ready to shoot up soon.</p> 
<h2 class="wp-block-heading" id="h-could-doge-price-melt-to-200-day-ema-or-new-ath"><strong>Could DOGE Price Melt to 200-day EMA or New ATH?</strong></h2> 
<p>When writing, Dogecoin crypto was trading at $0.315, down by 5.32% over the past 24 hours. The market capitalization was $46.58 Billion and the 24-hour trading volume was $2.54 Billion.</p> 
<p>Based on the technical chart, the price was defending the support level of $0.300. After a pause in its bearish momentum, the price has lost around 6% intraday. This selling pressure could bring a panic situation among buyers.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="737" height="635" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-510.png" alt="" class="wp-image-894288" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-510.png 737w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-510-300x258.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-510-150x129.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-510-696x600.png 696w" sizes="auto, (max-width: 737px) 100vw, 737px">
  <figcaption class="wp-element-caption">
   COINBASE: DOGE/USD 1-D Chart | Source: TradingView
  </figcaption>
 </figure>
</div> 
<p>Once the <strong>DOGE price</strong> starts trading below the $0.300 mark, strong selling pressure can be anticipated. The price is expected to reach the 200-day EMA because there is no support zone between $0.300 and 200-day EMA. </p> 
<p>If the price slips below the 200-day EMA, it might be tough for buyers to bounce back. Conversely, if the price defends the support level of $0.300, it could be a bullish signal. </p> 
<p>Buyers might show interest once the price exceeds the 20-day EMA. If the price sustains over the 20-day EMA, a strong bullish rally can be observed and the price may record a new ATH.</p> 
<h2 class="wp-block-heading" id="h-dogecoin-price-analysis-based-on-chart-and-experts-views"><strong>Dogecoin Price Analysis Based on Chart and Experts’ Views</strong></h2> 
<p>Dogecoin has experienced a significant decline over the past few days, dropping about 23% after a period of substantial gains. The price is hovering around the critical support level of $0.300, and its ability to maintain this level will be crucial.</p> 
<p>Analysts suggest that despite the short-term bearish pressure, a bullish comeback is likely if the price sustains above key resistance levels, particularly the 20-day EMA.</p> 
<p>A successful defense of the $0.300 mark could pave the way for another upward trend, possibly leading to new all-time highs. </p> 
<p>However, a slip below this level might trigger further selling and challenge the recovery. Investors should closely monitor these developments for the best strategy moving forward.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/26/dogecoin-price-in-red-is-trend-flipped-to-bearish-or-just-a-dip/">Dogecoin Price In Red: Is Trend Flipped To Bearish Or Just A Dip?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Dogecoin Price In Red: Is Trend Flipped To Bearish Or Just A Dip?

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 27, 2024

Thailand considers a Bitcoin payment pilot in Phuket's tourism sector

This Mid-Range Support Could Determine Bitcoin’s Path to $100K

Coinbase Institutional Integrates Chainlink into Project Diamond for Secure Tokenized Asset Manag...

Reduced Sentences for Former FTX Executives Spark Curiosity in the Crypto Industry

Here’s Why the Kaspa (KAS) Price Could Rally Soon

Web3Bay’s 3BAY Presale Offers More Than Just Discounts: A Look at How It Outpaces Cronos & Inject...

Join our free newsletter for daily crypto updates!