Rally

Bitcoin

Dogecoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-dogecoins-potential-for-a-price-rally/" data-wpel-link="internal">Exploring Dogecoin’s Potential for a Price Rally</a><br></p>
<p class="p1" style="text-align: justify">Following the selling pressure in the cryptocurrency market, <a href="https://en.coin-turk.com/bitcoin-experiences-significant-drop-industry-leaders-weigh-in/" data-wpel-link="internal">Bitcoin</a> continues to lead the healing process. According to blockchain data, <strong><a href="https://coin-turk.com/yatirimcilar-aradiklari-yeni-kani-buldu-mu-bu-kripto-dogecoinin-yerini-alabilir-mi" data-wpel-link="internal">Dogecoin</a></strong>‘s price indicates a potential rise, and the chances of starting an upward trend are significantly high. Billions of dollars worth of <a href="https://en.coin-turk.com/crypto-whales-stirring-up-major-movement-in-doge-and-shib/" data-wpel-link="internal">DOGE</a> are on the verge of profit-making, and initially, investors’ behaviors will largely affect the DOGE price.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-doge-front">What’s Happening on the DOGE Front?</h2> 
<p class="p1" style="text-align: justify">At the time of writing, <strong><a href="https://en.coin-turk.com/binance-options-adds-dogecoin-doge-price-rises/" data-wpel-link="internal">Dogecoin</a></strong> is trading at $0.159, observing significant growth supported by its investors. The main motivation behind this is the 9.91 billion DOGE tokens held by DOGE owners. With a value exceeding $1.56 billion, these token supplies were purchased between $0.151 and $0.168. Currently, the DOGE price is just 6% below the upper limit of this range, which could mean profitability if it surpasses this level. For now, this situation will likely push investors towards a rise and keep them from selling.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-343567 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/intotheblock.webp" alt="" width="1635" height="500"></p> 
<p class="p1" style="text-align: justify">Supporting this idea further is Dogecoin’s Market Value to Realized Value (MVRV) ratio. MVRV is used to assess overall profits and losses encountered by investors. Considering that DOGE’s 30-day MVRV value has dropped by 14%, investors could face a monthly loss.</p> 
<p class="p1" style="text-align: justify">However, this could also be a signal for a rise, as values between -7% and -19% indicate restrictions against selling. DOGE owners will prefer to accumulate at such low prices for future profits. Consequently, Dogecoin’s price will increase, tagging this area as an opportunity zone. Thus, all signs point to the next potential price rise.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-343566 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/mvrv-doge.webp" alt="" width="1536" height="520"></p> 
<h2 class="p1" style="text-align: justify" id="key-levels-for-doge">Key Levels for DOGE</h2> 
<p class="p1" style="text-align: justify"><strong>Dogecoin</strong> is currently facing two major resistances at $0.168 and $0.182. The first resistance marks the upper limit of the mentioned supply, and surpassing this level could initiate a recovery rally for DOGE. Investors will continue until they see profits, which is the likely outcome. Turning $0.168 could trigger a rally, potentially sending the popular memecoin’s price to $0.182, which could provide additional gains.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-343565 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/doge-grafik.webp" alt="" width="1805" height="808"></p> 
<p class="p1" style="text-align: justify">However, if the <a href="https://coin-turk.com/90-000-ethereum-satan-gelistirici-belli-oldu" data-wpel-link="internal">altcoin</a> fails to surpass $0.168 and loses support at $0.151, the bullish thesis will be invalidated. $1.5 billion worth of DOGE tokens will lead to losses, leaving Dogecoin’s price more vulnerable to further corrections.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/exploring-dogecoins-potential-for-a-price-rally/" data-wpel-link="internal">Exploring Dogecoin’s Potential for a Price Rally</a></h5>

Exploring Dogecoin’s Potential for a Price Rally

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