United

Bank AI

Dogecoin

Read

Rekt

Dogecoin’s recent market performance sparks discussions on its future investment potential amid fluctuating prices and uncertain global economic conditions. Analysts recommend cautious optimism, highlighting the importance of broader market trends. 
After monumental success this month, market participants eagerly await Dogecoin’s next move, contemplating whether it will continue to explode or cool off. 
Currently, Dogecoin is trading at $0.1298, up 0.69% today, down 23% this week, and up 50% this month – but is now the right time to invest? 
 You might also like: <a href="https://crypto.news/dogwifhat-pumps-over-30-new-ico-dogecoin20-turns-heads/"> DOGE and SHIB holders roll profit into alternatives, RBLZ gains attention </a> 
<h2 class="wp-block-heading" id="strong-dogecoin-looks-bullish-but-traders-should-await-bottom-signal-strong">Dogecoin looks bullish, but traders should await bottom signal</h2> 
After a meteoric run over the since late February, Dogecoin has experienced a deep retracement, stoking <a href="https://www.tradingview.com/chart/DOGEUSDT.P/My8gpORM-Dogecoin-DOGE-Breakout-Or-Breakdown/" target="_blank" rel="noopener">concerns</a> that further downside may be on the horizon. 
Currently, DOGE is trading above its bear market resistance, which also acted as support in the selloff that followed its 2021 ATH. 
The current weekly candle tapped the level and is now forming a wick as it rejects.&nbsp; 
However, with over four days until the candle closes, traders should remain cautious in case the retest fails. 
<img loading="lazy" decoding="async" width="624" height="337" src="https://lh7-us.googleusercontent.com/zAfVe8wVJDqnQi1Achte3v3SKz0TVv4cfW2m8KWxC9dnr8g_FI3sZqTJsiPIcF5yLkAVnNQ-AShmUjnIKbeTNWeVJSNmU9EhPrhAWFe84V9EoG1oq5jkzppZRoaI2CWNC6fBD3NtxmIIf3h2gJNivAo" alt="Dogecoin price analysis: A critical look at investment viability - 20"> 
This is exasperated by inconclusive macroeconomic conditions, with the Bank of Japan recently <a href="https://www.google.co.uk/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwj6puGHs4KFAxVRwjgGHVwDD0YQvOMEKAB6BAgSEAE&amp;url=https%3A%2F%2Fwww.cnn.com%2F2024%2F03%2F18%2Fbusiness%2Fjapan-boj-negative-interest-rate-ended-intl-hnk%2Findex.html&amp;usg=AOvVaw3vh6pdQ8sMADODrcm3nSFw&amp;opi=89978449" target="_blank" rel="noopener">raising</a> interest rates for the first time in 17 years and the United States Federal Reserve holding its FOMC meeting today. 
The meeting’s results will likely impact the crypto market’s upcoming trajectory.&nbsp; 
Any speculation of future rate increases or a prolonged pause at the current 5.5% level could plunge prices, causing a support breakdown for Dogecoin. 
 You might also like: <a href="https://crypto.news/recq-token-presale-attracts-dogecoin-investors-amidst-market-shifts/"> RECQ token presale attracts DOGE investors amidst market shifts </a> 
However, the upcoming Bitcoin halving and four-year cycle <a href="https://www.google.co.uk/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiEte3yt4KFAxU4QEEAHUHAC-EQFnoECCMQAQ&amp;url=https%3A%2F%2Fwww.binance.com%2Fen%2Ffeed%2Fpost%2F522308&amp;usg=AOvVaw3OjMrpYGO_tga-IMihABZu&amp;opi=89978449" target="_blank" rel="noopener">theory</a> indicate crypto remains bullish on a higher time frame. Still, analysts expect Dogecoin to consolidate before an uptrend continuation. 
“DOGE broke its macro downtrend. It was successfully retested as support two weeks ago. It is still dipping &amp; so technically still in the retest phase while also moving sideways within a new macro range ($0.12-$0.20). The retest phase is still in progress,” <a href="https://x.com/rektcapital/status/1769659210772468180?s=20" target="_blank">said</a> Rekt Capital in a recent post on X. 
The analyst believes Dogecoin’s current trading range is between $0.12 and $0.20. However, bulls must defend the support to maintain this bullish outlook. 
<img loading="lazy" decoding="async" width="624" height="413" src="https://lh7-us.googleusercontent.com/ANIO3dcRm1xqiFocgEdziOOWUdkhPzeJhHPh_UG1EIJCkiMRo_G2azTzEe-Vg1_e4GKLjMPfpm4ejGgvKu8WFIfN2BOINOzTTYJn_laI3sJnDf6CoCKcXVKNeYZEG5Nk_N3YesXHKLI6dc6AZxqF0pg" alt="Dogecoin price analysis: A critical look at investment viability - 21"> 
Crypto Poseidonn holds a similar stance, <a href="https://twitter.com/CryptoPoseidonn/status/1768627682411937845/photo/1" target="_blank" rel="noopener">stating</a> that any deeper retracement “is a gift.” 
Still, the trader remains open to a potential sell off to $0.1, over a 20% decrease from its current price. 
<img loading="lazy" decoding="async" width="624" height="383" src="https://lh7-us.googleusercontent.com/n3jo4mNVirgmfTZBkIPR9dIA6882rkYrO0ya9PWcHXBh67vGWmDnYLKYxO9lhah29iywSgXoPyhDB-a-Bn3V1GVOD1nN1XjINTcS8C3Rhixg9tpTXMj3DD5_6BqY5WXFIxiInkuORMz5PacwJfgVK_g" alt="Dogecoin price analysis: A critical look at investment viability - 22"> 
Therefore, value-seeking traders may be better equipped by awaiting a trend reversal confirmation, ensuring they attain the best price. 
But while Dogecoin undergoes a consolidation, new meme coin Dogecoin20 is racking up pace, surging past $3.5 million in six days of presale. 
<h2 class="wp-block-heading" id="strong-could-dogecoin20-be-a-better-buy-than-doge-strong">Could Dogecoin20 be a better buy than DOGE?</h2> 
When software engineers Billy Markus and Jackson Palmer jokingly created Dogecoin in 2013, they did not anticipate it would become a globally recognized sensation and symbol of resistance against exploitative TradFi practices. 
Still, its nonchalant inception left dents in its armor, drawbacks that limit its potential. This is why a team of savvy devs launched <a href="https://bs_22813e32.crypto-news.care/?referrer=dogecoin-price-analysis-%E2%80%93-is-doge-a-buy" target="_blank" rel="noopener">Dogecoin20</a>. 
Overhauling the godfather meme coin with tools and tokenomics for lasting success, Dogecoin20 has fared an unprecedented hit since its launch. 
 You might also like: <a href="https://crypto.news/dogecoin20-eyes-growth-as-pepe-bonk-face-market-downturn/"> Dogwifhat pumps over 30%, new ICO Dogecoin20 turns heads </a> 
Its most anticipated feature, Stake-to-Earn, invites users to generate passive rewards while ensuring the ecosystem’s security and stability. Currently, they can garner a 248% APY, but this decreases as more tokens are staked. 
The project also boasts a capped supply of 140 billion $DOGE20. This encapsulates the “sound money” essence forged by Bitcoin, staving off inflation and price dilution. 
In comparison, Dogecoin holds an unlimited supply, rendering it a sub-optimal store of value. 
Another advantage of Dogecoin20 is that it aims to tackle climate change. It will launch on Ethereum, swapping out Dogecoin’s Proof-of-Work for the greener Proof-of-Stake consensus mechanism.&nbsp; 
Currently, investors can buy $DOGE20 for $0.000202, but this will rise throughout the presale with the next increase when the total raise hits $4 million. 
Adding to the urgency, the presale has a $6 million hard cap, so potential buyers should act fast to avoid missing out. 
 Read more: <a href="https://crypto.news/meme-coins-dip-dogecoin20-ico-hits-2-7m-in-fundraising/"> Meme coins dip, Dogecoin20 ICO hits $2.7M in fundraising </a> 
 Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Dogecoin price analysis: A critical look at investment viability

目錄

crypto.news

在 2024年3月20日發表的其他文章

Bitcoin’s Race Against Time: Halving Accelerates as Miners Power Up

Final Fantasy VII Rebirth Receives Rave Reviews: A Triumph in Gaming Evolution

Celsius Seeks $2B Clawback From Pre-Bankruptcy Withdrawers

Robinhood Just Launched Its Crypto Wallet On Google Play For Android Users Worldwide

NVIDIA Forge Stronger Ties with this Firm to Boost AI and Data Processing

Even $500 Can Grow into Six Figures If Invested in the Right Cryptocurrencies: The Potential of R...

訂閱免費電子報，每天收取加密貨幣最新動態！