{"id":517697,"date":"2023-01-27T07:25:45","date_gmt":"2023-01-27T12:25:45","guid":{"rendered":"https:\/\/wncen.com\/?p=517697"},"modified":"2024-06-11T15:08:01","modified_gmt":"2024-06-11T15:08:01","slug":"dogecoin-price-ascent-slows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-price-ascent-slows\/","title":{"rendered":"Dogecoin Ascent Slows, But Why Are Analysts Still Bullish About The Memecoin?"},"content":{"rendered":"

Dogecoin, the original memecoin of the crypto industry, has not seen a monumental rise in price unlike other altcoins of late. According to <\/span>CoinMarketCap<\/span>, DOGE<\/a> has only risen 5.56% in the past week with its biggest gains seen in the monthly time frame.\u00a0<\/span><\/p>\n

At its current market cap of $11.3 billion, the token is surpassed by other altcoins in terms of growth. However, DOGE still remains a <\/span>dominant force<\/span><\/a> in the world of memecoins as it has been for a long time.\u00a0<\/span><\/p>\n

Related Reading: Polkadot Hints At Price Recovery \u2013 Can DOT Go Past 15% Weekly Ceiling?<\/a><\/div>\n

\"\"<\/p>\n

DOGE Compared To Other Memecoins<\/strong><\/h2>\n

Compared to its peers, Dogecoin is still a popular choice for investors in the crypto industry. In terms of <\/span>market cap<\/span><\/a>, the token dominates SHIB by a wider margin. Even with Shiba Inu disrupting DOGE\u2019s dominance, it still has a long way to go for SHIB to be level with DOGE.\u00a0<\/span><\/p>\n

However, Shiba Inu has been distancing itself from its memecoin past. With <\/span>Shibarium<\/span><\/a> around the corner, we might see SHIB gain more dominance in space. Since last year, Dogecoin has been silent in the development space with the only <\/span>spike<\/span><\/a> in activity being the <\/span>October 2022 upgrade<\/span><\/a> of the token\u2019s wallet.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

But external developments still favor DOGE. According to recent news about Tesla\u2019s <\/span>financials<\/span><\/a>, the company has not bought or sold Bitcoin for two consecutive quarters. Despite this, the company still only accepts DOGE for crypto payments. This gives DOGE some real life utility as a form of payment.<\/span><\/p>\n

However, with the electric vehicle industry facing a tougher time right now, we might see DOGE perform poorly compared to other memecoins, or altcoins in that matter, in the foreseeable future.\u00a0<\/span><\/p>\n

Sideways Movement Continues For DOGE<\/strong><\/h2>\n

As the time of writing, the price movement of DOGE has stagnated and started to oscillate above and below $0.08. <\/span>Analysts<\/span><\/a> are bullish about the coin\u2019s short to medium term growth with the target set at $0.118.\u00a0<\/span><\/p>\n

\n

$DOGE<\/a> in case we get a breakout of the current handle, this Cup & Handle pattern is what I look for.<\/p>\n

Target would be around $ 0.118 – 0.115<\/p>\n

That would be a 30% move after breakout for #doge<\/a><\/p>\n

Many alts have similar c&h structures given#Dogecoin<\/a> #dogeusd<\/a> #dogeusdt<\/a> #altcoin<\/a> pic.twitter.com\/cbC60o8D3A<\/a><\/p>\n

\u2014 Trading Joker (@TradingJoker) January 20, 2023<\/a><\/p><\/blockquote>\n

However, Dogecoin bulls should lower their expectations as the previous few weeks shows. DOGE, even with strong correlation with Bitcoin and Ethereum, only grew by 11% which is <\/span>comparably lower<\/span><\/a> than other altcoins who are in the top 100 list.<\/span><\/p>\n

<\/p>\n

Crypto total market cap at $997 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Aptos (APT) Price Snowballs 147% As On-Chain Development Shoots Up<\/a><\/div>\n
Now that Bitcoin and Ethereum have hit their respective price ceilings, Dogecoin will have a harder time to rally in price in the medium to long term. Short term, we might see DOGE bulls break the deadlock and gain ground above $0.093.\u00a0<\/span><\/p>\n
But caution should be exercised as the stagnant nature of the current price movement could also be the start of a strong bearish market movement.<\/span><\/p>\n
-Featured image by Money<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Dogecoin, the original memecoin of the crypto industry, has not seen a monumental rise in price unlike other altcoins of late. According to CoinMarketCap, DOGE has only risen 5.56% in the past week with its biggest gains seen in the monthly time frame.\u00a0 At its current market cap of $11.3 billion, the token is surpassed by other altcoins in terms of growth. However, DOGE still remains a dominant force in the world of memecoins as it has been for a long time.\u00a0 Related Reading: Polkadot Hints At Price Recovery \u2013 Can DOT Go Past 15% Weekly Ceiling? DOGE Compared To Other Memecoins Compared to its peers, Dogecoin is still a popular choice for investors in the crypto industry. In terms of market cap, the token dominates SHIB by a wider margin. Even with Shiba Inu disrupting DOGE\u2019s dominance, it still has a long way to go for SHIB to be level with DOGE.\u00a0 However, Shiba Inu has been distancing itself from its memecoin past. With Shibarium around the corner, we might see SHIB gain more dominance in space. Since last year, Dogecoin has been silent in the development space with the only spike in activity being the October 2022 upgrade of the token\u2019s wallet.\u00a0 But external developments still favor DOGE. According to recent news about Tesla\u2019s financials, the company has not bought or sold Bitcoin for two consecutive quarters. Despite this, the company still only accepts DOGE for crypto payments. This gives DOGE some real life utility as a form of payment. However, with the electric vehicle industry facing a tougher time right now, we might see DOGE perform poorly compared to other memecoins, or altcoins in that matter, in the foreseeable future.\u00a0 Sideways Movement Continues For DOGE As the time of writing, the price movement of DOGE has stagnated and started to oscillate above and below $0.08. Analysts are bullish about the coin\u2019s short to medium term growth with the target set at $0.118.\u00a0 $DOGE in case we get a breakout of the current handle, this Cup & Handle pattern is what I look for. Target would be around $ 0.118 – 0.115 That would be a 30% move after breakout for #doge Many alts have similar c&h structures given#Dogecoin #dogeusd #dogeusdt #altcoin pic.twitter.com\/cbC60o8D3A \u2014 Trading Joker (@TradingJoker) January 20, 2023 However, Dogecoin bulls should lower their expectations as the previous few weeks shows. DOGE, even with strong correlation with Bitcoin and Ethereum, only grew by 11% which is comparably lower than other altcoins who are in the top 100 list. Crypto total market cap at $997 billion on the daily chart | Chart: TradingView.com Related Reading: Aptos (APT) Price Snowballs 147% As On-Chain Development Shoots Up Now that Bitcoin and Ethereum have hit their respective price ceilings, Dogecoin will have a harder time to rally in price in the medium to long term. Short term, we might see DOGE bulls break the deadlock and gain ground above $0.093.\u00a0 But caution should be exercised as the stagnant nature of the current price movement could also be the start of a strong bearish market movement. -Featured image by Money<\/p>\n","protected":false},"author":557,"featured_media":517702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-517697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nDogecoin Ascent Slows, But Why Are Analysts Still Bullish About The Memecoin?<\/title>\n<meta name=\"description\" content=\"Dogecoin, the original memecoin of the crypto industry, has not seen a monumental rise in price unlike other altcoins of late. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Ascent Slows, But Why Are Analysts Still Bullish About The Memecoin?","url":"http:\/\/wncen.com\/news\/dogecoin-price-ascent-slows\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin-price-ascent-slows\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/doge.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/doge.png?fit=688%2C456"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":[],"dateCreated":"2023-01-27T12:25:45Z","datePublished":"2023-01-27T12:25:45Z","dateModified":"2024-06-11T15:08:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Ascent Slows, But Why Are Analysts Still Bullish About The Memecoin?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-price-ascent-slows\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-price-ascent-slows\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/doge.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/doge.png?fit=688%2C456\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[],\"dateCreated\":\"2023-01-27T12:25:45Z\",\"datePublished\":\"2023-01-27T12:25:45Z\",\"dateModified\":\"2024-06-11T15:08:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/doge.png?fit=688%2C456","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517697"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=517697"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/517702"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=517697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=517697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=517697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}