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Which coins can repeat the rise of DOGE?

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Bulls have recovered after a sharp drop, and all of the top 10 coins have come back to the green zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the bearish pressure intensified and the correction continued toward the support of $ 58,000. The daily low was set at $58,100.

BTCUSD

BTC/USD chart by TradingView

In the afternoon, sales volumes declined, and the Bitcoin price consolidated sideways. Until this morning, bears did not manage to test the support of $58,000, and the activity of buyers was sharply declining at the level of $59,500. This sideways trend may continue today.

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If the bears manage to push through the strong support of $58,000, then the pair may drop to the level of $56,740. If the BTC price fixes above the $58,000 level, then a recovery to $62,000 is possible.

Bitcoin is trading at $61,348 at press time.

BNB/USD

Binance Coin (BNB) is looking stronger than Bitcoin (BTC) as the rate of the native exchange coin has risen by 6.14% over the past 24 hours.

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BNBUSD

BNB/USD chart by TradingView

Despite today’s sharp rise, the ongoing growth of BNB may continue if the altcoin closes today above the $480 mark that reflects yesterday’s open level.

In this case, there is a high chance to see the breakout of the resistance at $509.7. If that happens, the rise may continue to the zone around $550.

Binance Coin is trading at $484.4 at press time.

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DOGE/USD

DOGE is the biggest gainer today as its rise has constituted 23% since yesterday.

DOGE

DOGE/USD chart by Trading View

DOGE has almost touched the resistance at $0.3495, accompanied by the high trading volume. If the daily candle closes around this mark, bulls mifht continue the growth tomorrow. In another case, the coin keeps trading in a wide channel between the mentioned resistance and the support at $0.1940.

DOGE is trading at $0.3037 at press time.

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Dogecoin

Dogecoin Forecast November 29 — December 3, 2021

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Dogecoin ends the trading week at the level of 0.1997 and continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines, which indicates pressure from the coin’s sellers and a potential continuation of the fall. As part of the DOGE/USD rate forecast for the next trading week, we should expect an attempt to reduce the value of a digital asset and a test of the support area near the level of 0.1605. From where a rebound is expected again and an attempt to raise Dogecoin cryptocurrency with a potential target above the level of 0.3505.

Dogecoin Forecast November 29 — December 3, 2021

An additional signal in favor of raising the DOGE/USD quotes in the current trading week on November 29 — December 3, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the descending channel. Cancellation of the option to raise Dogecoin cryptocurrency next trading week will be a fall and a breakdown of the 0.1005 area. This will indicate a breakdown of the support area and a continued fall in DOGE/USD quotes with a target below the level of 0.0505. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 0.3205, which will indicate a breakdown of the upper border of the bearish channel.

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Dogecoin Forecast November 29 — December 3, 2021

Dogecoin Forecast November 29 — December 3, 2021 implies an attempt to test the support area near the 0.1605 level. Then continued growth to the area above the level of 0.3505. An additional signal in favor of a rise in Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.1005 area. This will indicate a continued decline in cryptocurrency with a target below 0.0505.

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Elon Musk Warns Dogecoin Hodlers Against Leveraged Trading

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Tesla CEO Elon Musk praised a tweet that highlights the dangers of leveraged trading.

Tesla CEO Elon Musk called attention to some dangers and pitfalls of leveraged Dogecoin trading by praising a lengthy thread posted by Twitter user Mishaboar.

Mishaboar tweeted that some holders of the meme cryptocurrency started asking for help after their margin accounts got liquidated. Hence, he stressed that it was important to educate people about highly risky leveraged trading, comparing it to adding gasoline to the fire.

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He went on to write that newbies shouldn’t be fooled into thinking that “gambling” is an integral part of crypto.

The prolific member of the Dogecoin community added that only seasoned traders could try their hand at margin trading, but they still have to outsmart large institutional players.

Moreover, the cryptocurrency market is largely unregulated, which is why it is prone to manipulation:    

Again: it is playing Russian roulette against the guy who made the gun and knows exactly which chamber holds the bullet.   

Binance and FTX, two major crypto exchanges, were forced to dramatically reduce maximum leverage earlier this year due to regulatory scrutiny. However, there is still an abundance of trading platforms that allow their customers to make extremely risky bets.   

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Dogecoin is struggling to regain momentum

On Nov. 26, Dogecoin slipped to $0.1864, its lowest level since July 23 amid a violent cryptocurrency sell-off.   

Dogecoin
Image by tradingview.com

According to Coinglass data, $1.88 million worth of Dogecoin longs has been liquidated over the past 24 hours.  

The original meme coin is down 72% from its record peak in May.

Not your keys, not your Dogecoin

As reported by U.Today, Musk also urged his followers to leave centralized exchanges so that they will control their own private keys.

This came after the centibillionaire’s short-lived Twitter spat with Binance boss Changpeng Zhao. 

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VeChain

CQ Twitter Poll: VeChain Wins Against SHIB, DOGE, and ADA

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  • The Crypto market is down, following the most dominant crypto Bitcoin.
  • ADA, DOGE, VET, SHIB are some cryptos that caught the attention of investors.
  • VeChain won the poll with 57.8%.

For some time, the cryptocurrency space becomes extremely furious, followed by whales on the streets. But the most dominant crypto, Bitcoin, initiates the dump and most of the assets just follow suit. Likewise, almost all crypto assets crashed heavily. As a result, many weak hands just let their assets go.

On the other hand, while other retail traders are negatively impacted by the dip, some traders are planning to buy during this time. Moreover, Cardano (ADA), Dogecoin (DOGE), VeChain (VET), and Shiba Inu (SHIB) are the cryptos that caught the eye of investors all around the world. Thus, CoinQuora published a Twitter poll to know the opinion of each follower in terms of which crypto they are willing to buy during the dip.

As a result of the poll, VeChain takes the lead with 57.8% votes, followed by Shiba Inu with 19.3% votes. At the same time, Cardano in third place gathered 17% votes, and Dogecoin took fourth place with 5.9% votes.

According to the result, the majority of CoinQuora’s followers believe in the VeChain network and they are willing to buy more VET tokens during the dip. At the time of writing, the VET price is trading at $0.1106 with a 24-hour trading volume of $389,052,842, according to CoinMarketCap.

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