Dogecoin

bullish

2024

April

In an unexpected turn of events, <a href="https://yellow.com/asset/doge">Dogecoin</a> has delivered a remarkable performance, doubling its value over the past month and surging by 115%. This rise marks the first time since April 2024 that Dogecoin has surpassed the $0.22 mark, placing it at its highest level this year. The surge has brought many investors into profitable territory. 
Insights from IntoTheBlock <a href="https://www.newsbtc.com/news/dogecoin-price-hits-new-2024-high-here-are-2-ways-it-could-go-from-here/">reveal</a> that an overwhelming majority of DOGE holders are currently enjoying profits due to this price surge. Specifically, their data illustrates that 5.82 million addresses, equivalent to 91.17% of total addresses, are in the black. Even within a specific buying range, those who invested between $0.178537 and $0.242947 are capitalizing on the current market price. 
As we step into a new trading week, Dogecoin's price trajectory faces potential divergence. One possible outcome is a cooling-off phase. Despite the rally's strength, surpassing significant resistance levels may prove challenging. With many holders now profitable, the temptation to sell and lock in gains could exert downward pressure. If selling outweighs buying, a notable price correction could ensue. 
Conversely, Dogecoin might sustain its upward momentum, potentially nearing its all-time high of $0.7316 as the year progresses. At the current trading price of $0.2352, DOGE has climbed by 11.5% over the last 24 hours. 
In the ongoing bullish narrative, a social media analyst known as Mags (@thescalpingpro) foresees a continued upward trajectory for Dogecoin. According to Mags, the market is in the midst of a meme coin supercycle, suggesting further gains are on the horizon. Visual analysis hints at an impending parabolic rally, with Mags envisioning a potential rise to $1.17, translating to a staggering 400% increase from the current price. 
As the meme coin narrative unfolds, only time will reveal whether Dogecoin will continue its ascent or settle into a period of consolidation. "The $DOGE pump will melt faces," the analyst asserts.

Dogecoin Soars to 7-Month High: Where Will It Go From Here

Yellow News

Other articles published on Nov 11, 2024

Altcoin Season Index Drops to 37, Indicating Bitcoin Season in the Crypto Market

Is BlockDAG’s BULLRUN100 Bonus the Perfect Buy for Filecoin & Sui Investors in This Crypto Surge?

Avalanche Price Prediction: AVAX to Rally 1,000%, Shiba Inu Set for 2,000% Gains, While Dogen Tar...

After XRP, Dogecoin Overtakes USDC to Become 6th-Largest Crypto by Market Cap

XYZVerse Reaches $500k Presale Milestone, Sparking Unprecedented Buyer Interest Amid XRP Trump Su...

Shiba Inu (SHIB) to Perform Biggest Price Pump? Bitcoin (BTC) Eyeing $80,000, Don't Miss Toncoin ...

Join our free newsletter for daily crypto updates!