{"id":111052,"date":"2024-10-06T12:40:16","date_gmt":"2024-10-06T05:40:16","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=111052"},"modified":"2024-10-06T12:40:16","modified_gmt":"2024-10-06T05:40:16","slug":"exploring-why-doges-price-may-see-more-upside-soon","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=111052","title":{"rendered":"Exploring why DOGE&#8217;s price may see more upside soon"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>DOGE registered gains of just over 1% in the last 24 hours<\/em><\/li>\n<li><em>Memecoin may be set for a breakout that could take it to $0.134<\/em><\/li>\n<\/ul>\n<p>Over the past week, many memecoins have recorded significant losses. <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin [DOGE]<\/a> is among them, with the crypto down by 12.4%.<\/p>\n<p>On the contrary, the last 24 hours saw DOGE register some moderate gains on the charts. In fact, at press time, Dogecoin was trading at $0.109.<\/p>\n<p>Needless to say, the memecoin\u2019s prevailing price action has left crypto analysts talking. One of them is <a href=\"https:\/\/x.com\/Kev_Capital_TA\/status\/1842257393595383889\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Kevin Capital<\/a>, with the analyst predicting potential upside on the charts, citing the macro falling wedge trend.<\/p>\n<h2>Dogecoin\u2019s market sentiment<\/h2>\n<p>In his analysis, Kevin posited that Dogecoin\u2019s latest price action is seeing some signs of potential bullish recovery after peaking above its macro falling wedge trend over the past 48 hours.<\/p>\n<div id=\"attachment_430287\" style=\"width: 484px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430287\" decoding=\"async\" class=\"wp-image-430287 size-large\" alt=\"\" width=\"474\" height=\"1024\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-474x1024.jpg 474w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-139x300.jpg 139w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-768x1661.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-710x1536.jpg 710w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx.jpg 947w\" data-lazy-sizes=\"(max-width: 474px) 100vw, 474px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-474x1024.jpg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430287\" decoding=\"async\" class=\"wp-image-430287 size-large\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-474x1024.jpg\" alt=\"\" width=\"474\" height=\"1024\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-474x1024.jpg 474w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-139x300.jpg 139w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-768x1661.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx-710x1536.jpg 710w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogekx.jpg 947w\" sizes=\"auto, (max-width: 474px) 100vw, 474px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430287\" class=\"wp-caption-text\">Source: X<\/p>\n<\/div>\n<p>According to this analysis, the 48-hour recovery indicated that the recent breakdown may be a false bearish signal and DOGE is now in a bullish backtest. As such, a successful backtest would confirm that the wedge\u2019s trendline is holding as support, resulting in an upwards breakout.<\/p>\n<p>Usually, a falling wedge is typically a bullish reversal pattern, one that occurs during a downtrend. This trend signifies that selling pressure is weakening and a breakout to the upside may be imminent.<\/p>\n<p>Historically, a breakout from this trend is considered a bullish reversal, especially after an extended downtrend. When it forms, it means that buyers may be gaining control.<\/p>\n<p>For example, in 2021, Dogecoin saw a parabolic rise during what\u2019s called the meme-driven bull market. Over this period, DOGE surged by 1333% in 2 days, reaching $0.0459. This was followed by a bullish move, with DOGE skyrocketing by 10531% over 100 days, hitting an ATH of $0.70.<\/p>\n<p>Therefore, if this analysis holds, DOGE will make significant gains on the price charts.<\/p>\n<h2>What do the charts say?<\/h2>\n<p>As observed above, the prevailing market conditions could set Dogecoin for further gains in the short term.<\/p>\n<div id=\"attachment_430283\" style=\"width: 1434px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430283\" decoding=\"async\" class=\"wp-image-430283 size-full\" alt=\"\" width=\"1424\" height=\"540\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx.jpeg 1424w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-300x114.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-1024x388.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-768x291.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-1200x455.jpeg 1200w\" data-lazy-sizes=\"(max-width: 1424px) 100vw, 1424px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx.jpeg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430283\" decoding=\"async\" class=\"wp-image-430283 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx.jpeg\" alt=\"\" width=\"1424\" height=\"540\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx.jpeg 1424w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-300x114.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-1024x388.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-768x291.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogedydx-1200x455.jpeg 1200w\" sizes=\"auto, (max-width: 1424px) 100vw, 1424px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430283\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p>For starters, Dogecoin\u2019s DyDx exchange funding rate has remained positive over the past week.<\/p>\n<p>This means that long position holders are paying shorts during market downturns to hold their positions. Such market behavior is a sign of confidence in the memecoin\u2019s prospects.<\/p>\n<div id=\"attachment_430284\" style=\"width: 1862px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430284\" decoding=\"async\" class=\"wp-image-430284 size-full\" alt=\"\" width=\"1852\" height=\"525\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1024x290.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1536x435.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1200x340.png 1200w\" data-lazy-sizes=\"(max-width: 1852px) 100vw, 1852px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi.png\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430284\" decoding=\"async\" class=\"wp-image-430284 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi.png\" alt=\"\" width=\"1852\" height=\"525\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1024x290.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1536x435.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/dogeoi-1200x340.png 1200w\" sizes=\"auto, (max-width: 1852px) 100vw, 1852px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430284\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p>This demand for long positions can be further supported by a positive Open Interest (OI) weighted funding rate.<\/p>\n<div id=\"attachment_430286\" style=\"width: 1210px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430286\" decoding=\"async\" class=\"wp-image-430286 size-full\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-1024x683.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-768x512.png 768w\" data-lazy-sizes=\"(max-width: 1200px) 100vw, 1200px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z.png\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430286\" decoding=\"async\" class=\"wp-image-430286 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z.png\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-1024x683.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/ITB_doge_large_holders_netflow_dogecoin_2024-10-05T07_34_15.045Z-768x512.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430286\" class=\"wp-caption-text\">Source: IntoTheBlock<\/p>\n<\/div>\n<p>Additionally, large holders\u2019 netflow has spiked over the past week from a low of 37.43 million to 563.1 million. Such a surge implies that many large holders are increasing their investments and holdings, compared to those withdrawing to sell. This is a sign of confidence among large holders as they anticipate further price gains.<\/p>\n<p>Simply put, <a href=\"https:\/\/ambcrypto.com\/predictions\/dogecoin-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin<\/a> is at the end of favorable market sentiment right now. If these conditions hold, DOGE will break out of the stubborn resistance level at $0.11105. A breakout from this level will see the memecoin hit $0.134.<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/shiba-inu-price-prediction-3-reasons-why-shib-is-on-the-right-track\/\" rel=\"prev\" data-wpel-link=\"internal\">Shiba Inu price prediction \u2013 3 reasons why SHIB is on the right track!<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/dogecoin-exploring-why-doges-price-may-see-more-upside-soon\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DOGE registered gains of just over 1% in the last 24 hours Memecoin may be set for a breakout that could take it to $0.134 Over the past week, many &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=111052\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-111052","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111052"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111052\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}