{"id":125979,"date":"2024-11-15T03:43:54","date_gmt":"2024-11-14T20:43:54","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125979"},"modified":"2024-11-15T03:43:54","modified_gmt":"2024-11-14T20:43:54","slug":"dogecoin-price-levels-to-watch-after-post-election-rally","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125979","title":{"rendered":"Dogecoin Price Levels to Watch After Post-Election Rally"},"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 id=\"mntl-sc-page_1-0\" data-sc-sticky-offset=\"80\" data-sc-ad-label-height=\"0\" data-sc-ad-track-spacing=\"90\" data-sc-min-track-height=\"250\" data-sc-max-track-height=\"600\" data-sc-breakpoint=\"50em\" data-sc-load-immediate=\"1\" data-sc-content-positions=\"[300, 1, 1, 1250, 1, 1, 1, 1]\" data-bind-scroll-on-start=\"true\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_2-0\" class=\"comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\">Key Takeaways<\/h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li>Dogecoin has been one of the biggest gainers following the election of Donald Trump last week, and the cryptocurrency meme coin got another boost this week when the president-elect announced the creation of a new agency that carries the acronym DOGE.<\/li>\n<li>The meme coin broke out from a cup and handle pattern following the election outcome on the highest trading volume since early March, setting the stage for further speculative buying.<\/li>\n<li>The measuring principle, which calculates the percentage change of the cup and handle\u2019s \u201ccup\u201d and adds it to the pattern\u2019s top trendline value, projects an upside price target in Dogecoin of $1.385.<\/li>\n<li>Investors should monitor key support levels on Dogecoin&#8217;s chart around $0.35, $0.285, and $0.22.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p id=\"mntl-sc-block_3-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Dogecoin (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=dogeusd\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">DOGEUSD<\/a>) has been <a href=\"https:\/\/www.investopedia.com\/why-dogecoin-now-has-a-larger-market-cap-than-ford-delta-and-general-mills-8744458\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">one of the biggest gainers<\/a> following the election of Donald Trump last week, and the cryptocurrency <a href=\"https:\/\/www.investopedia.com\/terms\/d\/dogecoin.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">meme coin<\/a> got another boost this week when the president-elect announced the creation of a new agency that carries the acronym DOGE.\n<\/p>\n<p id=\"mntl-sc-block_5-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> The department, which will be co-led by prominent Trump backer and crypto enthusiast <a href=\"https:\/\/www.investopedia.com\/articles\/personal-finance\/061015\/how-elon-musk-became-elon-musk.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Elon Musk<\/a>, aims to reduce government expenditure and cut excessive red tape. Throughout Wednesday, Musk posted several references to the DOGE department on his social media platform <em>X<\/em>, which included the meme coin\u2019s symbolic Shiba Inu dog.\n<\/p>\n<p id=\"mntl-sc-block_7-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Since election day, Dogecoin has surged more than twofold to a three-year high, with the price currently sitting just below this week\u2019s <a href=\"https:\/\/www.investopedia.com\/trading\/peak-and-trough-analysis\/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">peak<\/a> as retail traders flood back into cryptocurrencies amid expectations of a <a href=\"https:\/\/www.investopedia.com\/crypto-related-investments-surge-trump-win-microstrategy-buy-update-8743017\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">crypto-friendly<\/a> incoming administration. Dogecoin was unchanged Thursday afternoon at $0.39.\n<\/p>\n<p id=\"mntl-sc-block_9-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Let\u2019s take a closer look at Dogecoin&#8217;s <a href=\"https:\/\/www.investopedia.com\/terms\/w\/weeklychart.asp#:~:text=A%20weekly%20chart%20is%20the,used%20by%20traders%20and%20investors.\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">weekly chart<\/a> and identify key price levels that investors may be watching.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-cup-and-handle-breakout\"\/><\/p>\n<h2 id=\"mntl-sc-block_11-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Cup and Handle Breakout <\/span> <\/h2>\n<p id=\"mntl-sc-block_12-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Dogecoin formed a classic <a href=\"https:\/\/www.investopedia.com\/terms\/c\/cupandhandle.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">cup and handle<\/a> between November 2021 and October this year before the price made a decisive <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/08\/trading-breakouts.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">breakout<\/a> above the pattern\u2019s upper trendline following last week\u2019s election outcome.\n<\/p>\n<p id=\"mntl-sc-block_14-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Importantly, the move occurred on the highest weekly <a href=\"https:\/\/www.investopedia.com\/ask\/answers\/041015\/why-trading-volume-important-investors.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">trading volume<\/a> since early March, setting the stage for further speculative buying.\n<\/p>\n<p id=\"mntl-sc-block_16-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> While the <a href=\"https:\/\/www.investopedia.com\/terms\/r\/rsi.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">relative strength index (RSI)<\/a> confirms bullish price momentum with a reading above 80, the indicator also flashes extremely <a href=\"https:\/\/www.investopedia.com\/terms\/o\/overbought.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">overbought<\/a> conditions, which could lead to sudden reversals.\n<\/p>\n<p id=\"mntl-sc-block_18-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Let\u2019s use <a href=\"https:\/\/www.investopedia.com\/technical-analysis-4689657\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">technical analysis<\/a> to forecast a potential upside <a href=\"https:\/\/www.investopedia.com\/terms\/p\/pricetarget.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">price target<\/a> to monitor, while also identifying key <a href=\"https:\/\/www.investopedia.com\/terms\/s\/support.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">support<\/a> areas to watch.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-measuring-principle-price-target-to-monitor\"\/><\/p>\n<h2 id=\"mntl-sc-block_20-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Measuring Principle Price Target to Monitor <\/span> <\/h2>\n<p id=\"mntl-sc-block_21-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Investors can forecast a potential upside price target by using the <a href=\"https:\/\/www.investopedia.com\/terms\/m\/measuring-principle.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">measuring principle<\/a>, a technique that uses prior <a href=\"https:\/\/www.investopedia.com\/terms\/p\/price-action.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">price action<\/a> to predict future moves. When applying the tool, we will measure the percentage move, given Dogecoin\u2019s significant price fluctuations.\n<\/p>\n<p id=\"mntl-sc-block_23-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> To do this, we calculate the percentage change of the cup and handle\u2019s \u201ccup\u201d and add it to the pattern\u2019s top trendline value. For example, we apply a 530% increase to $0.22, which projects a target of $1.385.\u00a0\n<\/p>\n<p id=\"mntl-sc-block_25-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> It\u2019s worth keeping in mind that Dogecoin\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/m\/marketcapitalization.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">market capitalization<\/a> would need to increase to around $203 billion from its current market cap of about $58 billion to reach this bullish price target.<span class=\"ql-inline-citation\" data-cite=\"1\"\/>\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-key-support-areas-to-watch\"\/><\/p>\n<h2 id=\"mntl-sc-block_27-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Key Support Areas to Watch <\/span> <\/h2>\n<p id=\"mntl-sc-block_28-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> The first support area to watch sits around $0.35, a location on the chart where the meme coin\u2019s price could attract support near mid-August 2021 <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/10\/trend-following-countertrend.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">countertrend<\/a> peak.\n<\/p>\n<p id=\"mntl-sc-block_30-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> A failure to hold this level could see the cryptocurrency fall to the $0.285 level. Investors may look for <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/filters-and-triggers.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">entry points<\/a> in this area near a series of comparable prices positioned just below the October 2021 <a href=\"https:\/\/www.investopedia.com\/terms\/s\/swinghigh.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">swing high<\/a>.\n<\/p>\n<p id=\"mntl-sc-block_32-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Finally, a deeper <a href=\"https:\/\/www.investopedia.com\/terms\/c\/correction.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">correction<\/a> could lead to a retest of the $0.22 level, a region where traders who prefer not to chase breakouts may look for buying opportunities near the cup and handle pattern\u2019s upper trendline.\n<\/p>\n<p id=\"mntl-sc-block_34-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our\u00a0<a href=\"https:\/\/www.investopedia.com\/legal-4768893#toc-warranty-and-liability-disclaimer\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">warranty and liability disclaimer<\/a>\u00a0for more info.<\/em>\n<\/p>\n<p id=\"mntl-sc-block_36-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>As of the date this article was written, the author does not own any of the above securities.<\/em><\/p>\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:\/\/www.investopedia.com\/dogecoin-price-levels-to-watch-after-post-election-rally-musk-trump-8745151\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Dogecoin has been one of the biggest gainers following the election of Donald Trump last week, and the cryptocurrency meme coin got another boost this week when the &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125979\" 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-125979","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125979","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=125979"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125979\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}