Convergence

Bitcoin

Dogecoin

Divergence

DOGE, a leading meme coin in the digital currency space, has recently witnessed a significant surge in its value. This upward trend was short-lived, as Dogecoin price now exhibits a horizontal trading pattern. This behavior indicates a consolidation period, suggesting a pause after its rapid rise.
Over the past 24 hours, <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> has significantly decreased, down by 4.95% to $0.1870. This downturn comes amidst a broader slump in the market, as reflected by Dogecoin’s market capitalization, which also fell by 4.90% to $27.6 billion.&nbsp;
<figure id="attachment_190673" aria-describedby="caption-attachment-190673" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-190673" src="https://coingape.com/wp-content/uploads/2024/04/Can-Dogecoin-Price-Hit-1-As-Bitcoin-Halves--e1712686612799.png" alt="Can Dogecoin Price Hit $1 As Bitcoin Halves?" width="1200" height="554">
 <figcaption id="caption-attachment-190673" class="wp-caption-text">
 Dogecoin Price
 </figcaption>
</figure>
The trading volume has surged by 28.13% to $1.79 billion, indicating a spike in trading activity. Despite the recent decline, Dogecoin remains a popular digital asset, occupying the 8th rank by market capitalization among cryptocurrencies.&nbsp;
Meanwhile, the 24 hour price movement chart shows a volatile market, with Dogecoin experiencing sharp swings, hitting a low of $0.1915, further indicating the unpredictable nature of the crypto markets.&nbsp;
<h2 id="strong-dogecoin-price-forecast-what-s-next-for-the-leading-meme-currency-strong">Dogecoin Price Forecast: What’s Next for the Leading Meme Currency?</h2>
DOGE has been trading in a tight range near the $0.20 mark, a significant psychological barrier it crossed three weeks prior. On the last day, the price dipped below $0.2, suggesting a possible downward movement. Still, the outlook remains positive for many in the market, reflecting a broader optimistic view on cryptocurrencies.
Dogecoin’s recent price action shows oscillations between $0.21 and $0.16, indicating a 2% increase. Over the last month, its value has risen by 7%, a notable achievement despite the mixed market signals of bullishness and bearishness, making a strong momentum elusive.
Data from <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/DOGE">Coinglass</a> reveals a 5.04% decrease in DOGE’s derivatives volume, which has fallen to $3.97 billion. Additionally, there’s been a 1.44% drop in open interest, now at $1.66 billion. This points to a declining market interest for <a href="https://coingape.com/why-dogecoin-price-fell-despite-crypto-market-recovery/" rel="noopener noreferrer nofollow">DOGE</a>, with the OI-weighted funding rate decreasing to 0.0347%, highlighting a growing bearish market sentiment.
<h2 id="strong-is-dogecoin-poised-for-a-breakout-or-a-breakdown-strong">Is Dogecoin Poised for a Breakout or a Breakdown?</h2>
If bearish pressure intensifies, <a href="https://coingape.com/price-predictions/dogecoin-doge-price-prediction/" rel="noopener noreferrer nofollow">Dogecoin</a> might fall below $0.18, possibly reaching a $0.15 support level, signaling a market trend shift to bearish. Conversely, a bullish resurgence could propel the price back to $0.2 and potentially towards the $1 landmark. Achieving such a milestone depends on Dogecoin overcoming significant resistance levels and maintaining momentum.
<figure id="attachment_190674" aria-describedby="caption-attachment-190674" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-190674" src="https://coingape.com/wp-content/uploads/2024/04/DOGEUSD_2024-04-09_21-02-40.png" alt="Can Dogecoin Price Hit $1 As Bitcoin Halves?" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/04/DOGEUSD_2024-04-09_21-02-40.png 1154w, https://coingape.com/wp-content/uploads/2024/04/DOGEUSD_2024-04-09_21-02-40-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/04/DOGEUSD_2024-04-09_21-02-40-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/04/DOGEUSD_2024-04-09_21-02-40-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-190674" class="wp-caption-text">
 Dogecoin Price| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/8FVLqULg/">Tradingview</a>
 </figcaption>
</figure>
The Relative Strength Index (RSI), sitting at 53.68, implies a market in balance, neither dominated by buyers nor sellers. Meanwhile, the Moving Average Convergence Divergence (MACD) signals a potential shift toward bullish momentum, as evidenced by the MACD line’s recent ascent above the signal line.&nbsp;
The post <a href="https://coingape.com/markets/can-dogecoin-price-hit-1-as-bitcoin-halves/" rel="noopener noreferrer nofollow">Can Dogecoin Price Hit $1 As Bitcoin Halves?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Can Dogecoin Price Hit $1 As Bitcoin Halves?

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