{"id":561338,"date":"2023-11-18T23:30:18","date_gmt":"2023-11-18T23:30:18","guid":{"rendered":"https:\/\/wncen.com\/?p=561338"},"modified":"2023-11-18T16:05:06","modified_gmt":"2023-11-18T16:05:06","slug":"dogecoin-metrics-signal-breakout","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-metrics-signal-breakout\/","title":{"rendered":"Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go?"},"content":{"rendered":"

Dogecoin is <\/span>definitely on a rally<\/span><\/a> as shown by crypto market numbers. The cryptocurrency has experienced a significant market increase amidst a wider consolidation, with the price up by 7.46% in the past seven days.\u00a0<\/span><\/p>\n

Although the price of DOGE was recently pushed back down today by some level of resistance near $0.087, it has since bounced back up again at $0.082. At the time of writing, DOGE is trading at $0.084, an increase of 2.4% from this support level. This indicates that the bulls are not ready to give up buying momentum.\u00a0<\/span><\/p>\n

According to a recent post by crypto analyst Rekt Capital on social media, DOGE has finally confirmed a break out of a descending channel pattern. On-chain signals also point to a huge surge in interest and trading volume, indicating DOGE might be going higher soon.<\/span><\/p>\n

\n

$DOGE<\/a> has confirmed a breakout from its Channel#DOGE<\/a> #Crypto<\/a> #Dogecoin<\/a> pic.twitter.com\/SvmtG65FZa<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) November 17, 2023<\/a><\/p><\/blockquote>\n

Related Reading: Ethereum ETF Race: BlackRock Wants An Ether Spot ETF<\/a><\/div>\n

Metrics Signal Impending Breakout<\/h2>\n

The current state of the cryptocurrency market appears to be one of general consolidation when viewed through the lens of the price action of the many different cryptocurrencies that are tracked by Coinmarketcap.\u00a0<\/span><\/p>\n

Crypto market caps seem to be running out of steam after a four-week consecutive rally. However, <\/span>Dogecoin’s market value<\/span><\/a> has been increasing over the past week, bucking the trend of most other cryptocurrencies in the top 10 by market size, which has all shown a decline in their market caps over the past week.\u00a0<\/span><\/p>\n

\"Dogecoin\"<\/p>\n

Source: IntoTheBlock<\/pre>\n

Dogecoin has finally broken out of its narrow trading range in the weekly candle chart, surging over 45% in the past month. Several catalysts have contributed to this impending breakout, one of which is an increased trading activity. Another catalyst is the announcement of Astrobotic\u2019s plan to <\/span>send a physical Dogecoin<\/span><\/a> token to the moon in December.<\/span><\/p>\n

Whale movements have also contributed for the most part. According to on-chain data from crypto analytics platform Santiment, the cumulative balance of wallets holding 10 million to 1 billion DOGE has increased from 44.63 billion DOGE tokens on November 1 to a cumulative balance of 47.38 billion DOGE tokens on November 17th. As a result, these large holders have increased their holdings by 2.75 billion DOGE, worth approximately $231 million at the crypto’s current price.<\/span><\/p>\n

\"DOGE<\/p>\n

Source: IntoTheBlock<\/pre>\n

How High Can The Dogecoin Price Go?<\/h2>\n

The technical indicators for Dogecoin are looking quite bullish right now. The short 10-day Moving Average has climbed steadily above the longer 21-day Moving Average since a bullish cross on October 23 last month, indicating the bulls still have major control over the market. A continued bullish momentum could see the crypto break various price resistances, the first being the $0.87 level.<\/span><\/p>\n

Related Reading: Cardano Breakout Of Epic Proportions: Analyst Predicts 1600% Rally To $6.5<\/a><\/div>\n

Doge is trading at $0.08440 at the time of writing. <\/span>The next hurdle<\/span><\/a> is to break above $0.09 and then move towards $0.1. According to IntoTheBlock’s Global In\/Out Of The Money metric, about 1.58 million addresses are still waiting for DOGE to climb above their minimum buying price of $0.858 before making a profit.<\/span><\/p>\n

\"Dogecoin<\/p>\n

DOGE price drops to $0.082 | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Analytics Insight, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin is definitely on a rally as shown by crypto market numbers. The cryptocurrency has experienced a significant market increase amidst a wider consolidation, with the price up by 7.46% in the past seven days.\u00a0 Although the price of DOGE was recently pushed back down today by some level of resistance near $0.087, it has since bounced back up again at $0.082. At the time of writing, DOGE is trading at $0.084, an increase of 2.4% from this support level. This indicates that the bulls are not ready to give up buying momentum.\u00a0 According to a recent post by crypto analyst Rekt Capital on social media, DOGE has finally confirmed a break out of a descending channel pattern. On-chain signals also point to a huge surge in interest and trading volume, indicating DOGE might be going higher soon. $DOGE has confirmed a breakout from its Channel#DOGE #Crypto #Dogecoin pic.twitter.com\/SvmtG65FZa \u2014 Rekt Capital (@rektcapital) November 17, 2023 Related Reading: Ethereum ETF Race: BlackRock Wants An Ether Spot ETF Metrics Signal Impending Breakout The current state of the cryptocurrency market appears to be one of general consolidation when viewed through the lens of the price action of the many different cryptocurrencies that are tracked by Coinmarketcap.\u00a0 Crypto market caps seem to be running out of steam after a four-week consecutive rally. However, Dogecoin’s market value has been increasing over the past week, bucking the trend of most other cryptocurrencies in the top 10 by market size, which has all shown a decline in their market caps over the past week.\u00a0 Source: IntoTheBlock Dogecoin has finally broken out of its narrow trading range in the weekly candle chart, surging over 45% in the past month. Several catalysts have contributed to this impending breakout, one of which is an increased trading activity. Another catalyst is the announcement of Astrobotic\u2019s plan to send a physical Dogecoin token to the moon in December. Whale movements have also contributed for the most part. According to on-chain data from crypto analytics platform Santiment, the cumulative balance of wallets holding 10 million to 1 billion DOGE has increased from 44.63 billion DOGE tokens on November 1 to a cumulative balance of 47.38 billion DOGE tokens on November 17th. As a result, these large holders have increased their holdings by 2.75 billion DOGE, worth approximately $231 million at the crypto’s current price. Source: IntoTheBlock How High Can The Dogecoin Price Go? The technical indicators for Dogecoin are looking quite bullish right now. The short 10-day Moving Average has climbed steadily above the longer 21-day Moving Average since a bullish cross on October 23 last month, indicating the bulls still have major control over the market. A continued bullish momentum could see the crypto break various price resistances, the first being the $0.87 level. Related Reading: Cardano Breakout Of Epic Proportions: Analyst Predicts 1600% Rally To $6.5 Doge is trading at $0.08440 at the time of writing. The next hurdle is to break above $0.09 and then move towards $0.1. According to IntoTheBlock’s Global In\/Out Of The Money metric, about 1.58 million addresses are still waiting for DOGE to climb above their minimum buying price of $0.858 before making a profit. DOGE price drops to $0.082 | Source: DOGEUSD on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":561344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[6664,14690,1785,89174,85675,89916,7,1803,1804,90186,86960,79599,79600],"class_list":["post-561338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-crypto","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-doge-whales","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogecoin-price-breakout","tag-dogecoin-whales","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Metrics Signal Impending Breakout, How High Can The Price Go?<\/title>\n<meta name=\"description\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go?","url":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-metrics-signal-breakout\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-metrics-signal-breakout\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Dogecoin-5.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Dogecoin-5.png?fit=820%2C463"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","doge","doge news","doge price","doge whales","dogecoin","dogecoin news","dogecoin price","dogecoin price breakout","dogecoin whales","dogeusd","dogeusdt"],"dateCreated":"2023-11-18T23:30:18Z","datePublished":"2023-11-18T23:30:18Z","dateModified":"2023-11-18T23:30:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-metrics-signal-breakout\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-metrics-signal-breakout\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Dogecoin-5.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Dogecoin-5.png?fit=820%2C463\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"doge\",\"doge news\",\"doge price\",\"doge whales\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogecoin price breakout\",\"dogecoin whales\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2023-11-18T23:30:18Z\",\"datePublished\":\"2023-11-18T23:30:18Z\",\"dateModified\":\"2023-11-18T23:30:18Z\"}<\/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\/11\/Dogecoin-5.png?fit=820%2C463","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561338"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=561338"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561338\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561344"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=561338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=561338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=561338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}