Dogecoin

bullish

View

<p>Dogecoin (DOGE), the popular meme coin is poised for an upside rally due to its bullish price action and notable interest from traders and investors. It appears that the sentiment for the meme coin seems to have shifted from a downtrend to an uptrend.</p>  
<h2 class="wp-block-heading" id="h-dogecoin-technical-analysis-and-upcoming-levels-nbsp"><strong>Dogecoin Technical Analysis and Upcoming Levels&nbsp;</strong></h2>  
<p>According to expert technical analysis, <a href="https://coinpedia.org/price-analysis/have-memecoins-lost-the-plot-what-to-expect-from-doge-shib-pepe-in-november-2024/" rel="noopener noreferrer nofollow">DOGE</a> appears bullish and there is a strong possibility it could hit the $0.18 level in the coming days. The potential reason behind this bullish speculation is the successful breakout and retest of the horizontal resistance of the $0.135 level.&nbsp;</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/28210057/DOGEUSDT_2024-10-28_21-00-46.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/28210057/DOGEUSDT_2024-10-28_21-00-46-1024x448.png" alt="" class="wp-image-373417"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>On October 18, 2024, DOGE broke out from a strong resistance level and consolidated there for ten days, which is often considered an accumulation zone. With this recent breakout, it is largely confirmed that the meme coin will soar significantly in the coming days.</p>  
<p>As of now, DOGE is trading above its 200 Exponential Moving Average (EMA) on a daily time frame, indicating an uptrend.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bullish-on-chain-metrics-nbsp"><strong>Bullish On-Chain Metrics&nbsp;</strong></h2>  
<p>Dogecoin’s bullish outlook is further supported by on-chain metrics. According to the on-chain analytics firm <a href="https://www.coinglass.com/currencies/DOGE" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>, DOGE’s Long/Short ratio currently stands at 1.044, indicating a strong bullish sentiment among traders.</p>  
<p>Additionally, its open interest has skyrocketed by 25% over the past 24 hours and 8.56% over the past four hours. This rising open interest suggests a growing interest of traders as their bets on DOGE are significantly rising.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/28210206/image-104-282.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/28210206/image-104-282-1024x362.png" alt="" class="wp-image-373418"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>The combination of the bullish on-chain metrics with technical analysis suggests that bulls are currently dominating the asset and may drive a rally in the coming days.</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>  
<p>At press time, DOGE is trading near $0.149 and has experienced a price surge of over 7.2% in the past 24 hours. During the same period, its trading volume skyrocketed by 155%, indicating heightened participation from traders and investors amid bullish price action.</p>

Dogecoin (DOGE) Targets $0.18 as Open Interest Spikes 25%

Table of Contents

CoinPedia News

Other articles published on Oct 28, 2024

Top Trending Crypto Coins on DEXTools – Tommy Shelby: The Devil, Kleva Token, Deployed by Steve

Doge2014 the next 100X? Low Market Cap Crypto Poised for Exponential Growth

Transak Data Breach Exposes 92K Users: Employee Phishing Attack, Ransomware Group Claims Responsi...

Have Memecoins Lost the Plot—What to Expect from DOGE, SHIB, & PEPE in November 2024?

Bitpanda considers IPO or sale on the table amid crypto market surge

Expect an ADA Price Crash as Cardano Loses Huge Market Share to Competitor Eyeing a Top 10 Market...

Join our free newsletter for daily crypto updates!