2024

Bitcoin

Dogecoin

Notable

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 <p>Dogecoin (DOGE) has carved out a tight trading range so far in 2024, oscillating along its 200-day moving average. However, despite a few fluctuations in its price chart recently, Dogecoin’s strengthening on-chain activity and bullish momentum indicators have analysts betting on an imminent breakout.</p>
 <p>DOGE currently trades around $0.078, pinned to its year-long average price level. The consolidation marks a period of relative calm after a bruising 2022 slide eradicated nearly 90% of DOGE’s value from highs.</p>
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 <p><strong>Also read: Ripple: XRP Could Surge to $1.40, But There’s A Catch</strong></p>
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 <h2 class="wp-block-heading" id="h-dogecoin-adds-890-000-news-addresses">Dogecoin adds 890,000 news addresses</h2>
 <p>However, according to recent data, Dogecoin welcomed 890,000 new addresses last week. At the same time, a technical pattern has emerged in the form of a symmetrical triangle, usually signaling a volatility coiling period ahead of powerful breakouts.</p>
 <p>Adding confidence, DOGE’s relative strength index (RSI), a momentum gauge, exhibits growing positive divergence after making higher lows even as prices carved lower lows—another bullish development.</p>
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    <p lang="en" dir="ltr">Dogecoin network activity goes parabolic — Will DOGE price follow?<br><br>Dogecoin network activity has surged in the past week, but DOGE price hasn’t moved yet.<br>Dogecoin is experiencing a significant increase in its network activity. Data from market intelligence firm IntoTheBlock… pic.twitter.com/7bS4jGYhcv</p>— talkboutmegain (@Talkboutmegain) February 4, 2024
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 <p>Notable crypto analyst Ali also spots extra clues, noting DOGE’s Bollinger Bands have tightened to their narrowest spread since October. The contracted volatility range implies DOGE could be gearing up for an explosive move once it picks a direction.</p>
 <p>With buyers appearing stealthily stronger based on on-chain clues, the advantage may sway their way. A close above the upper band, near $0.083, is likely needed to confirm the start of a new uptrend.</p>
 <p><strong>Also read: Cryptocurrency: 3 Altcoins That Could Outshine Bitcoin in February</strong></p>
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 <h2 class="wp-block-heading" id="h-will-doge-hit-0-10-soon"><strong>Will DOGE hit $0.10 soon?</strong></h2>
 <p>In terms of upside targets, reclaiming the symbolic $0.10 mark—near DOGE’s 50-week moving average—could provide bulls with their first real test since 2021’s melt-up. That would require a 30% move from current levels but seems well within reach given the collapsing volatility. According to Coinpedia <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, the $0.10 mark can be attained within this week.</p>
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 <p>Further out, DOGE still faces formidable resistance around $0.16, its highest point in 2022. Clearing that supply barrier could open runs back towards $0.20 and higher. However, failing to hold the triangle base and 200-day average risks retests of 2023 lows around $0.075.</p>
 <p>In summary, DOGE appears to be setting the foundation for marked gains if key technical levels hold.&nbsp;&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-doge-poised-for-breakout-above-0-1-here-s-when-tbt78963.html">https://thebittimes.com/dogecoin-doge-poised-for-breakout-above-0-1-here-s-when-tbt78963.html</a></p>

Dogecoin (DOGE) Poised for Breakout Above $0.1, Here's When

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TheBitTimes

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