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DOGECOIN TECHNICAL ANALYSIS CMP-$0.08350: To the Moon or Hype Balloon?

Key Takeaways
  • Dogecoin surpasses $0.8, marking its highest value since July, driven by community enthusiasm for the upcoming launch of a physical Dogecoin to the Moon.
  • Bakkt, a cryptocurrency firm, extends custodial support to include Shiba Inu and Dogecoin, contributing to the surge in Dogecoin's value.
  • At present, DOGE is priced at $0.08350, reflecting a 3.50% increase in the last 24 hours.
17-Nov-2023 By: Lokesh Gupta

Post April '23, Dogecoin broke $0.084 resistance, signaling success

  • Astrobotic, based in Pittsburgh, confirms inclusion of physical DOGE in DHL Moonbox via ULA's Vulcan Centaur Rocket.

  • Increased Dogecoin activity on Robinhood (HOOD): 103 million DOGE transferred during a notable price surge.

  • Dogecoin's recent market momentum tied to whale activities and lunar ambitions generates buzz.

  • $0.08 resistance, aligning with July's peak, suggests anticipated consolidation before Dogecoin targets a $0.1 breakout.

Technical  View:

  • According to Coingabbar Price Analysis, Dogecoin, post-April 2023, successfully breaches the $0.08400 resistance zone, with sustained positive momentum stemming from a falling wedge breakout.

  • The DOGE price experiences a noteworthy 47% surge in the last 30 days, surpassing both the 50-day and 200-day Exponential Moving Averages.

  • Bullish indicators point to an imminent golden crossover event, highlighting the coin's growing positive momentum.

  • The leading meme coin skyrockets above $0.8, triggered by a significant breakout from a crucial bullish pattern identified the previous week.

  • A validated double-bottom pattern emerges as a key bullish signal, suggesting a potential 18% breakout, aiming for the $0.1 mark.


RESISTANCE LEVEL : $0.08600-$0.09000

SUPPORT LEVEL : $0.08200-$0.07900

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.