{"id":632146,"date":"2024-07-30T01:30:11","date_gmt":"2024-07-30T01:30:11","guid":{"rendered":"https:\/\/wncen.com\/?p=632146"},"modified":"2024-07-29T19:21:39","modified_gmt":"2024-07-29T19:21:39","slug":"dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt\/","title":{"rendered":"Dogecoin Ready For $0.3? Analysts Bullish On DOGE Price Breakout Attempt"},"content":{"rendered":"

Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musk\u2019s recent comments regarding cryptocurrencies and the largest memecoin by market capitalization.<\/p>\n

Related Reading: Bitcoin On Fire: 20% Surge In 3 Weeks Teases Record-Breaking Potential<\/a><\/div>\n

Dogecoin Attempts To Break Above Key Level<\/h2>\n

During the past week, market watchers have revealed their bullish predictions for the largest memecoin by market cap. Daan Crypto Trades revealed that DOGE was \u201cshowing some strength\u201d after trading above the daily 200 MA\/EMA last week and testing a multi-month diagonal trendline.<\/p>\n

DOGE attempted to break out of the downtrend line again after trading above the $0.134 resistance level in the early hours of Monday. To Daan, Dogecoin\u2019s price could see \u201chigher over the next couple of weeks\u201d if it holds on to the $0.13 area.<\/p>\n

\"dogecoin\"
DOGE attempts to break above the downtrend line. Source: Daan Crypto Trades on X<\/a><\/figcaption><\/figure>\n

Similarly, analyst Crypto Poseidon pointed out that DOGE\u2019s \u201cdaily ema50-200 started to squeeze into each other again.\u201d Per the analyst, this will lead<\/a> to an expansion above the previous yearly high of $0.22. Poseidon added, \u201c$0.3 on the horizon, dog lovers.\u201d<\/p>\n

Amid the market recovery, renowned crypto analyst Ali Martinez revealed<\/a> on Thursday that Dogecoin was playing the same pattern it has displayed before. According to this pattern, DOGE consolidates in a descending triangle.<\/p>\n

During the consolidation, the memecoin historically sees a 140%-230% rally before retracing around 60%. Per the analyst, DOGE investors should \u201cjust wait\u201d as the memecoin enters the bull run after the retrace.<\/p>\n

As of this writing, Dogecoin is hovering between the $0.129 and $0.130 price range, a 0.5% drop in the last 24 hours. However, this performance represents a 7.6% and 5.3% price surge in the biweekly and monthly timeframes.<\/p>\n

Elon Musk Won’t Promote Crypto But Has \u2018Soft Spot\u2019 For DOGE<\/h2>\n

On Sunday, Tesla\u2019s CEO Elon Musk joined<\/a> The X Takeover event hosted by the Tesla Owners Silicon Valley club. Musk made a special virtual guest appearance to discuss his insights on technology, space exploration, sustainability, and cryptocurrencies.<\/p>\n

During his appearance, the CEO clarified he would not promote crypto, but might address them jokingly<\/a> in the future. He also stated he doesn\u2019t have a negative opinion about cryptocurrencies despite his refusal to endorse them.<\/p>\n

Musk explained that certain crypto assets, including Bitcoin (BTC), have merit in his eyes, but investors won\u2019t see him pumping them. However, the billionaire added that he got a fondness for Dogecoin due to his liking of dogs and memes.<\/p>\n

\n

I’m not going to be promoting crypto\u2014at most, in a joking way. If you see me pumping crypto, it’s not me. I do think there’s merit in Bitcoin and maybe some other cryptos, and I’ve sort of got a soft spot for Dogecoin because I like dogs and memes.<\/p>\n<\/blockquote>\n

The DOGE community had a mixed reaction to Musk\u2019s remarks. Some investors consider the comments bad news for Dogecoin and its holders as it meant he no longer supported<\/a> the memecoin’s adoption. \u201cI guess putting Doge on the Moon is not a real thing he\u2019s considering anymore,\u201d one reply read<\/a>.<\/p>\n

Others believe his crypto stance clarification was necessary as some would \u201cthink he said he\u2019s against crypto which is not true.\u201d Additionally, many investors considered that his liking for DOGE was bullish<\/a> for the memecoin.<\/p>\n

Related Reading: Tron Bulls Push for Breakthrough: Can TRX Surpass $0.1443?<\/a><\/div>\n

Following the news, the largest cryptocurrency by market cap saw an 8% price increase, going from the $0.1204 to the $0.1355 range overnight.<\/p>\n

\"Dogecoin,
Dogecoin’s performance on the three-day chart. Source: DOGEUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musk\u2019s recent comments regarding cryptocurrencies and the largest memecoin by market capitalization. Related Reading: Bitcoin On Fire: 20% Surge In 3 Weeks Teases Record-Breaking Potential Dogecoin Attempts To Break Above Key Level During the past week, market watchers have revealed their bullish predictions for the largest memecoin by market cap. Daan Crypto Trades revealed that DOGE was \u201cshowing some strength\u201d after trading above the daily 200 MA\/EMA last week and testing a multi-month diagonal trendline. DOGE attempted to break out of the downtrend line again after trading above the $0.134 resistance level in the early hours of Monday. To Daan, Dogecoin\u2019s price could see \u201chigher over the next couple of weeks\u201d if it holds on to the $0.13 area. Similarly, analyst Crypto Poseidon pointed out that DOGE\u2019s \u201cdaily ema50-200 started to squeeze into each other again.\u201d Per the analyst, this will lead to an expansion above the previous yearly high of $0.22. Poseidon added, \u201c$0.3 on the horizon, dog lovers.\u201d Amid the market recovery, renowned crypto analyst Ali Martinez revealed on Thursday that Dogecoin was playing the same pattern it has displayed before. According to this pattern, DOGE consolidates in a descending triangle. During the consolidation, the memecoin historically sees a 140%-230% rally before retracing around 60%. Per the analyst, DOGE investors should \u201cjust wait\u201d as the memecoin enters the bull run after the retrace. As of this writing, Dogecoin is hovering between the $0.129 and $0.130 price range, a 0.5% drop in the last 24 hours. However, this performance represents a 7.6% and 5.3% price surge in the biweekly and monthly timeframes. Elon Musk Won’t Promote Crypto But Has \u2018Soft Spot\u2019 For DOGE On Sunday, Tesla\u2019s CEO Elon Musk joined The X Takeover event hosted by the Tesla Owners Silicon Valley club. Musk made a special virtual guest appearance to discuss his insights on technology, space exploration, sustainability, and cryptocurrencies. During his appearance, the CEO clarified he would not promote crypto, but might address them jokingly in the future. He also stated he doesn\u2019t have a negative opinion about cryptocurrencies despite his refusal to endorse them. Musk explained that certain crypto assets, including Bitcoin (BTC), have merit in his eyes, but investors won\u2019t see him pumping them. However, the billionaire added that he got a fondness for Dogecoin due to his liking of dogs and memes. I’m not going to be promoting crypto\u2014at most, in a joking way. If you see me pumping crypto, it’s not me. I do think there’s merit in Bitcoin and maybe some other cryptos, and I’ve sort of got a soft spot for Dogecoin because I like dogs and memes. The DOGE community had a mixed reaction to Musk\u2019s remarks. Some investors consider the comments bad news for Dogecoin and its holders as it meant he no longer supported the memecoin’s adoption. \u201cI guess putting Doge on the Moon is not a real thing he\u2019s considering anymore,\u201d one reply read. Others believe his crypto stance clarification was necessary as some would \u201cthink he said he\u2019s against crypto which is not true.\u201d Additionally, many investors considered that his liking for DOGE was bullish for the memecoin. Related Reading: Tron Bulls Push for Breakthrough: Can TRX Surpass $0.1443? Following the news, the largest cryptocurrency by market cap saw an 8% price increase, going from the $0.1204 to the $0.1355 range overnight. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":632147,"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":[428,1119,92131,89447,10923,1557,92565,1785,7,79600,8375,88164],"class_list":["post-632146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-bullish-prediction","tag-crypto-analysts","tag-crypto-market","tag-cryptocurrencies","tag-dog-themed-token","tag-doge","tag-dogecoin","tag-dogeusdt","tag-elon-musk","tag-memecoins"],"acf":[],"yoast_head":"\nDogecoin Ready For $0.3? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/wncen.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Dogecoin Ready For $0.3? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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