Cryptocurrency

Momentum

Dogecoin

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/resilience-of-dogecoin-amidst-cryptocurrency-market-downturn" rel="noopener noreferrer nofollow">Resilience of Dogecoin Amidst Cryptocurrency Market Downturn</a><br></p>
<p style="text-align: justify">In the face of a widespread decline in the cryptocurrency market, <a href="https://en.bitcoinhaber.net/dogecoins-technical-analysis-key-levels-and-trends" rel="noopener noreferrer nofollow">Dogecoin</a> (DOGE) has notably managed to hold its value above a critical support level of $0.075. This consistency in maintaining its price point suggests a strong buyer presence and a potential positive market sentiment for DOGE.</p>
<h2 id="momentum-for-a-dogecoin-rise">Momentum for a Dogecoin Rise</h2>
<p style="text-align: justify">Despite Dogecoin’s resilience, its upward trajectory is hindered by a resistance level at $0.0877, suggesting a possible phase of lateral movement in the market. January 2024 saw Dogecoin experiencing significant price volatility, yet it remained above the $0.075 support level, indicating sustained buyer interest.</p>
<p style="text-align: justify">Technical analysis shows that this support level is reinforced by the 61.8% Fibonacci retracement and the 200-day EMA. A recent increase in the EMA slope has contributed to a 6.5% rise in Dogecoin’s value over a week, positioning its price around $0.081.</p>
<p style="text-align: justify">The Dogecoin network has seen a surge in growth, with a notable 1,100% increase in new addresses in the last week, culminating in a record high of 247,240 new addresses on January 29th. This expansion could positively influence DOGE’s future value.</p>
<p style="text-align: justify">With the network’s growth and signs of market recovery, DOGE may surpass the resistance at $0.087. A successful breakout could lead to a 22% increase in value, potentially signaling a trend reversal for Dogecoin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/resilience-of-dogecoin-amidst-cryptocurrency-market-downturn" rel="noopener noreferrer nofollow">Resilience of Dogecoin Amidst Cryptocurrency Market Downturn</a></h5>

Resilience of Dogecoin Amidst Cryptocurrency Market Downturn

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