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Dogecoin (DOGE), the world’s largest meme coin has gained a <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" target="_blank" rel="noreferrer noopener">notable price surge of over 70%</a> in October 2024 and has now reached a crucial resistance level. This significant price surge in such a short period raises concerns of a price correction or consolidation, which might pause DOGE's upside rally in the coming days.   
<h2 class="wp-block-heading" id="h-dogecoin-doge-technical-analysis-and-upcoming-level">Dogecoin (DOGE) Technical Analysis and Upcoming Level</h2>   
According to the expert technical analysis, <a href="https://coinpedia.org/news/doge-bull-run-back-whale-moves-155-million-tokens/" target="_blank" rel="noreferrer noopener">DOGE appears bullish</a> but is currently at a strong resistance level of $0.18 level. Since March 2024, the meme coin has reached this resistance level multiple times but has experienced selling pressure and price reversal.&nbsp;   
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 <a href="https://image.coinpedia.org/wp-content/uploads/2024/10/30041920/DOGEUSDT_2024-10-30_04-19-05.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/30041920/DOGEUSDT_2024-10-30_04-19-05-1024x448.png" alt="" class="wp-image-373922"></a>
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 Source: Trading View
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This time, the sentiment has shifted and there is a possibility of further upside rally. However, this will be only possible once DOGE breaches this resistance level and closes a daily candle above the $0.18 level.&nbsp;   
Based on price action, if this happens there is a strong possibility the meme coin could soar by 25% to reach the $0.22 level in the coming days. On the other hand, there is also a possibility of some price correction, as DOGE has experienced a notable upside rally without any pause which we may face in the coming days.   [post_titles_links postid="373917"]   
<h2 class="wp-block-heading" id="h-doge-s-bullish-on-chain-metrics-nbsp">DOGE’s Bullish On-Chain Metrics&nbsp;</h2>   
DOGE's bullish outlook is further supported by on-chain metrics. According to the on-chain analytics firm Coinglass, DOGE’s Long/Short ratio currently stands a 1.09, indicating strong bullish sentiment across the market.   
Additionally, its open interest has jumped by 14.1%, indicating heightened participation from traders and investors amid bullish sentiment.   
The combination of bullish <a href="https://www.coinglass.com/currencies/DOGE" target="_blank" rel="noreferrer noopener nofollow">on-chain metrics </a>with technical analysis suggests that bulls are currently dominating the asset and may support DOGE in its upside rally.   
As of now, DOGE is trading near $0.174 and has experienced a price surge of over 10% in the past 24 hours. During the same period, its trading volume increased by 29%, suggesting growing attention from investors and traders.

Will Dogecoin (DOGE) Hit $0.22? Insights from Market Sentiment

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