Connect with us

Dogecoin

Dogecoin (DOGE) Shoots 26% Amid the Rally In Meme Tokens

Published

on

Although Bitcoin (BTC) and Ethereum (ETH) are drawing all the attention of crypto investors, meme coins are making silent moves. Dogecoin’s (DOGE) price has shot up 26% in the last 24-hours and is currently trading at $0.26 with a market cap of $34.8 billion as of press time.

The trading volume for Dogecoin over the last 24 hours has exceeded $7.9 billion and is only lower than that of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The spot trading on Binance alone accounted for 20% of the total volumes.

But this rally isn’t limited to Dogecoin. Crypto journalist Colin wu explains that other meme tokens have been doing well too. Wu further explains:

Advertisement

Other Meme Tokens, Shib rose by more than 17%, and Lowb rose by more than 11%. Bybt data shows that in the past 24 hours, the amount of Dogecoin contract liquidation amounted to $39.3781 million, which was the third largest liquidation amount.

As we can see in the below technical charts, Dogecoin has formed a big candlestick suggesting strong upward momentum.

The Rise of the Meme Crypto

MEme cryptocurrencies have been in the spotlight for 2021. DOGE’s year-to-date returns currently stand at 65 times or we can say a massive 6400%. The meme cryptocurrency has received solid backing from popular businesses across several industries.

Advertisement

Tesla boss and billionaire Elon Musk has been a bigger fan of Dogecoin. His space rocket company SpaceX is already accepting Dogecoin payments for its ‘Doge-1 Mission to the Moon’.

Dogecoin has successfully made its way to becoming the top-ten cryptocurrency by market cap. At present, DOGE is the seventh biggest cryptocurrency. However, it is still trading at more than 60% discount from its all-time high of $0.70.

Other meme coins have also managed to catch up with the glory of Dogecoin. As of writing this story, Shiba Inu is also up 24% trading at a price of $0.000008199. SHIB’s year-to-date returns are more than 100 times. It seems that meme tokens too are catching up the rally in the overall crypto space.

Advertisement

News Source

Dogecoin

DOGE Price To Explode 1000x!! This Is When Dogecoin Price Will Hit $1!

Published

on

  • The total market cap of the crypto space is anticipating a $3 trillion milestone.
  • Dogecoin price manifests to break a crucial resistance to reach a new milestone.

The global crypto space is currently experiencing a decent uptrend momentum which can soon rekindle an altseason. On 16th October 2021, the total market cap of the space broke at a crucial resistance of $2.401 trillion reaching $2.50 trillion at the press time. While the altseason is on the horizon, meme coin DOGE is awaiting for the crucial breakout to explode by 1000x. 

Analyst Makes a Whooping Prediction for DOGE Price!

Popular crypto analyst Justin Bennett expressed that the meme coin has a proven record to explode massively after a breakout. Further, he stated, the DOGE price is on the verge of a breakout and could leg up by 500 to 1000x if it happens.

The chart shown by him indicates the formation of a Symmetrical triangle pattern. It seems to be retesting at an important resistance area of $0.25. The technical analyst went on to say that the coin has surged by 5 to 10X in its recent breakouts of a similar pattern. Hence, a similar trend may continue, and probably price could soar beyond 500x this time as the pattern is stronger than the previous, he added.

Advertisement

DOGE Price Forms a Symmetrical Triangle Pattern!
The Doge price is trading at $0.2383 with 2.50% gains in the last 24 hours. The asset seems to be awaiting a crucial breakout. The significance of the bullish bid has lifted the price from the $0.1857 support level. Since the start of Q4, clearing the price compression, the meme coin has formed a symmetrical triangle pattern. If altcoin continues the pattern, it could gain massive profits in the upcoming bull cycle.

The DOGE price has the next important resistance between $0.3 to $0.35, if it breaks above $0.4 crucial resistance then it is expected to hit new ATH. On the contrary, bearish clouds could pull back the price level to the major support of $0.1652.

However, Crypto maniac, the popular crypto analyst. He indicated via a chart that the meme coin could soon break out the harmonic pattern to reach new highs. Collectively, if the asset gets any supporting momentum for the price action, then it could soar beyond expectations.

Advertisement

News Source

Continue Reading

Dogecoin

Mark Cuban Defends Dogecoin Against Bitcoin Maximalists

Published

on

Billionaire Mark Cuban says that he likes Dogecoin because it’s a fun and cheap way of learning about crypto.

During a recent live audio conversation on Twitter Spaces, billionaire Mark Cuban said that he would continue talking about Dogecoin despite facing pushback from Bitcoin maximalists.  

Cuban says that Dogecoin is “a great introduction” to the cryptocurrency space.

The “Shark Tank” host also believes that the meme cryptocurrency is a cheap way of learning about crypto.    

Cuban explains that there is a low barrier to entry since one only has to open an account with Robinhood and buy $25 worth of DOGE.
    
Now that Robinhood is rolling out its own wallets, Cuban says that Dogecoiners will be also able to easily spend their favorite meme coin at merchants of the likes of AMC.    
Finally, Cuban has once again praised the Dogecoin community for its frivolousness:

I think it’s a fun community to be part of.

Advertisement

Cuban’s meager Dogecoin holdings

Despite being a strong Dogecoin advocate, Cuban himself owns only $1,500 in the meme coin.

After the billionaire had his commitment questioned by podcaster Preston Pysh, he urged the former to disclose his own position in Bitcoin to prove that he’s not a poser.

Cuban himself described Bitcoin as the superior store of value, but he doesn’t believe that it will succeed in the realm of payments (unlike Dogecoin).  

Advertisement

“Vitalik will figure it out”

Speaking of Ethereum, Cuban says that he’s not arguing that there is a risk linked to Ethereum’s switch to proof-of-stake through the “difficulty bomb” mechanism.

However, he believes that co-founder Vitalik Buterin will be able to figure things out:  

I’m guessing that Vitalik will figure it out.

If Ethereum “screws the pooch,” Cuban expects other chains to take its place.

As reported by U.Today, Buterin also joined the advisory board of the recently re-established Dogecoin Foundation.

News Source

Advertisement
Continue Reading

Dogecoin

Dogecoin Primed for a 500–1,000% Multi-Month Rally if It Hits This Level, Says Crypto Analyst Justin Bennett

Published

on

Crypto market analyst Justin Bennett thinks Dogecoin (DOGE) is primed for a massive rally if it successfully recovers a key level and retests it as support.

The analyst tells his 78,000 Twitter followers that he thinks meme crypto asset Dogecoin could begin a 500-1000% multi-month surge if it can reclaim the $0.24 level.

“DOGE just needs to take out that area above $0.24. 

Advertisement

Do that, and a multi-month rally begins, IMO (in my opinion).

Probably 500 – 1,000% of upside if it confirms.”

Image
Source: Justin Bennett/Twitter

According to Bennett’s analysis, if DOGE can break $0.24, he expects a short-lived pump to a previous high at $0.26 before retesting $0.24 and moving higher. At the time of writing, Dogecoin is trading at $0.236, according to CoinGecko.

The crypto market strategist is also looking at Dogecoin’s daily chart, where the meme crypto asset is coiling and forming a large triangle pattern. The formation of a triangle in an uptrend suggests the bullish continuation of an asset once it takes out its diagonal resistance. According to Bennett’s chart, DOGE has printed the same pattern twice this year. In both instances, massive run-ups followed the breakout.

Advertisement
Image
Source: Justin Bennett/Twitter

In a recent issue of his market analysis on the Cryptocademy newsletter, Bennett highlights three key price targets for DOGE to hit, assuming it can confirm a break above $0.245.

“If this breaks higher, targets like $0.32, $0.42, and $0.57 are well within reach.

However, keep in mind that a daily close above the upper trend line near $0.245 is required to confirm the breakout.”

Image
Source: cryptocademy.com

Looking at DOGE against BTC (DOGE/BTC), Bennett predicts the pair will break out of a massive falling wedge formation that’s been developing since June.

“It isn’t just DOGE against the USD, either.

Advertisement

This falling wedge on DOGEBTC is ridiculous.

Only a matter of time before it rockets higher, IMO.”

Image
Source: Justin Bennett/Twitter

The falling wedge formation is a technical analysis pattern that also suggests a move to the upside once the breakout is confirmed.

News Source

Advertisement
Continue Reading