Moon

Dogecoin

Elon Musk

Dogecoin, which swept through 2021 and made a name for itself with its rise, had a difficult 2023. However, there is still a chance to end the year on a high note. It was understandable to see a negative price performance after the countless events of this year, including Elon Musk’s departure. So, what is the reason for the optimism at the end of the year? 
<h2 style="text-align: justify" id="dogecoin-doge-analysis">Dogecoin (DOGE) Analysis</h2> 
The king of meme coins has been stuck below the long-term descending resistance trend line since its peak in May 2021. If you recall the May SNL Show, you would also remember how Elon Musk messed everything up. <a href="https://en.coin-turk.com/what-is-the-dogecoin-price-target-investors-are-waiting/" data-wpel-link="internal">DOGE</a>, which came close to the $1 target for the first time ever, subsequently experienced a steady decline. 
Since the ATH (all-time high) day, the DOGE price remained below the long-term trend line until it broke free in October 2023. Breakouts from such long-term structures are exciting for investors as they now may indicate a trend change. Although the trend line has been surpassed, the horizontal resistance area has not been reached yet. 
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-288236 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/Doge-Uzun-Vadeli-.png" alt="" width="1147" height="473"> 
On the weekly chart, the RSI is positive and the price is relatively strong. There’s some weakness due to <a href="https://en.coin-turk.com/top-cryptocurrency-bitcoin-faces-sales-pressure-a-warning-from-leading-analyst/" data-wpel-link="internal">Bitcoin</a>‘s pressure, but this issue is hoped to end after Powell spills the beans tomorrow at this time. 
<h2 style="text-align: justify" id="dogecoin-target-price">Dogecoin Target Price</h2> 
On the daily chart, the DOGE price has broken free from the $0.095 horizontal resistance area. After the upward breakout, the price reached a peak of $0.107 but has not yet determined a clear direction. Even though the altcoin saw its annual high, it created a bearish candle, which was related to BTC sales. The daily RSI gives a mixed reading. On the bullish side, the indicator has escaped the descending trend line but is weakening. 
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-288239 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/doge-fiyat-hedefi.png" alt="" width="1188" height="482"> 
What will determine the DOGE price is a potential bounce at $0.095. In the past, this would have been expected with Elon Musk’s support, but he is no longer around. However, we might see announcements related to upcoming DOGE space missions. There is a chance that Elon Musk might share something about the DOGE-1 space mission (where several companies will send physical DOGE to the Moon via cargo, with SpaceX being just one of them) and trigger this. 
In a positive scenario, a bounce from $0.095 could lift the Dogecoin price to $0.145, but in the reverse scenario, we could see a retracement to $0.072. Continue Reading: <a href="https://en.coin-turk.com/dogecoins-challenging-year-and-potential-comeback/" data-wpel-link="internal">https://en.coin-turk.com/dogecoins-challenging-year-and-potential-comeback/</a>

Dogecoin’s Challenging Year and Potential Comeback

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