Dogecoin

Elon Musk

Gains

<p><span style="font-weight: 400;">Dogecoin (DOGE) is trading around $0.40, but signs of bullishness indicate that the meme currency is primed to break out soon. Although it has failed to breach the 21-day moving average (DMA), the fundamentals suggest that the stock may soon penetrate the level.</span></p> 
<p><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=Will+Dogecoin+Hit+%2410%3F+Bullish+Signals+Point+to+Big+Gains+Ahead" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="wp-image-53959 size-full aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D.jpeg" alt="Ripple CEO Spills the Beans on 60 Minutes with XRP's Vision" width="728" height="90" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 42" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D.jpeg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/0B857336-1674-40D9-B314-0837568BC39D-300x37.jpeg 300w" sizes="(max-width: 728px) 100vw, 728px"></a></p> 
<p><span style="font-weight: 400;">The price of Dogecoin has been ranging sideways after the currency dropped below a short-term trend line. This has left it probing crucial resistances, especially the 21DMA, which has been limiting the upward potential. The fact that this resistance still presents problems indicates that the price could be at risk of a more severe pullback in the short term. If that happens, the next key support level to watch would be the 50DMA at around $0.33, a price point that coincides with important support areas from 2021.</span></p> 
<figure id="attachment_77025" aria-describedby="caption-attachment-77025" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77025 size-large" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1-1024x489.jpg" alt="Dogecoin" width="1024" height="489" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 43" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1-1024x489.jpg 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1-300x143.jpg 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1-768x367.jpg 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1-860x410.jpg 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE-1.jpg 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-77025" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-dogecoin-rebound-signals-span"><span style="font-weight: 400;">Dogecoin Rebound Signals</span></h2> 
<p><span style="font-weight: 400;">However, there are signals that may signal a rebound, continue the positive trend, and form a very strong price rebound. One of the most inspiring facts is that the funding rates in DOGE’s future markets will be quite low. The futures funding rates have been seen falling to 0.01%, as reported by Coinglass, from earlier this month’s highs of above 0.09%. This decline in funding rates indicates that much of the exuberance that can lead to large price fluctuations and that is often followed by sharp sell-offs, has been washed out of the market.</span></p> 
<figure id="attachment_77027" aria-describedby="caption-attachment-77027" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77027 size-large" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass-1024x408.png" alt="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead" width="1024" height="408" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 44" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass-1024x408.png 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass-300x120.png 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass-768x306.png 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass-860x343.png 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Gcoinglass.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-77027" class="wp-caption-text">
  Source: <a href="http://coinglass.com/" rel="nofollow noopener" target="_blank">Coinglass</a>
 </figcaption>
</figure> 
<p><span style="font-weight: 400;">Moreover, the currency is still very popular in the media. The news of Elon Musk and Vivek Ramaswamy’s plans for the Department of Government Efficiency (D.O.G.E) has kept <a href="https://thebitjournal.com/">DOGE</a> in the news. Such measures may attract more attention to cryptocurrency, especially with Trump’s team ready to come into force in January. If there are more favourable policies for cryptocurrencies, then the role of Dogecoin in the market could only grow, which will only attract more investors.</span></p> 
<figure id="attachment_77032" aria-describedby="caption-attachment-77032" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77032 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/D.O.G.E.png" alt="DOGE" width="878" height="395" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 45" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/D.O.G.E.png 878w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/D.O.G.E-300x135.png 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/D.O.G.E-768x346.png 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/D.O.G.E-860x387.png 860w" sizes="(max-width: 878px) 100vw, 878px">
 <figcaption id="caption-attachment-77032" class="wp-caption-text">
  Source: <a href="https://x.com/DOGE/status/1867087144424182178" rel="nofollow" target="_blank">Department of Government Efficiency </a>
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-historical-cycles-and-dogecoin-s-potential-span"><span style="font-weight: 400;">Historical Cycles and Dogecoin’s Potential</span></h2> 
<p><span style="font-weight: 400;">Doge’s first significant resistance level to look out for is the 2021 high at $0.73905. This level is the highest that the cryptocurrency has ever traded at and getting back to this price level will be a big boost. But what most analysts think is that Dogecoin does not end here. As a new pro-crypto administration is set to take office in 2025, there are increasing hopes for a market upswing that could also benefit Dogecoin.</span></p> 
<p><span style="font-weight: 400;">Dogecoin’s performance also seems to give promising results when looking at its historical data. As of now, DOGE has experienced three different market cycles starting from 2014 up to the present, and all of these have experienced high price fluctuations. Analysts have used Fibonacci extensions to estimate the previous market cycles and believe that DOGE can go up to $3 in this cycle. However, given the meteoric rise of DOGE in 2021, some analysts expect the token to climb to $10 per unit, a rather aggressive goal implying a $1 trillion-plus market cap.</span></p> 
<figure id="attachment_77034" aria-describedby="caption-attachment-77034" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77034 size-large" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2-1024x489.jpg" alt="DOGE" width="1024" height="489" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 46" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2-1024x489.jpg 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2-300x143.jpg 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2-768x367.jpg 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2-860x410.jpg 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Doge-2.jpg 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-77034" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<p><span style="font-weight: 400;">Even though a $10 Dogecoin seems quite improbable now, it is not entirely implausible. If Dogecoin is to sustain this overperformance, then hitting a market cap of hundreds of billions is very much possible.&nbsp;</span></p> 
<p><span style="font-weight: 400;">The broader cryptocurrency market is also indicative of growth as we shall see in the following analysis. As the attention to digital assets continues to grow across the globe and with new regulations that may be more favorable to crypto on the horizon, the environment is right for additional gains. DOGE is one of the most commonly known and most popular meme coins and will be greatly impacted by this shift. The token’s presence in the market is stable, and it will remain so, with more investors being attracted as more people use cryptocurrencies.</span></p> 
<p><img loading="lazy" decoding="async" class="size-large wp-image-77049 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-1024x585.jpg" alt="DOGE" width="1024" height="585" title="Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead 47" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-1024x585.jpg 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-300x171.jpg 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-768x439.jpg 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-1536x878.jpg 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp-860x491.jpg 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/DOGE_webp.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px"></p> 
<h2 id="span-style-font-weight-400-conclusion-span"><span style="font-weight: 400;">Conclusion</span></h2> 
<p><span style="font-weight: 400;">Although Dogecoin has some short-term problems, the longer-term picture is positive. This is because DOGE’s futures funding rates have been low, there is increased media attention, and the overall cryptocurrency market is bullish. The coin may reach higher heights from historical prices than in 2021, so it is crucial to watch within the meme coin market. The future seems promising for Dogecoin, and people are curious how far the currency’s price can go.</span></p> 
<p data-pm-slice="1 1 []"><a href="https://thebitjournal.com/">The BIT Journal</a>&nbsp;is available around the clock, providing you with updated information about the state of the crypto world. Follow us on<a href="https://twitter.com/Thebitjournal_" target="_blank" rel="noreferrer noopener nofollow">&nbsp;Twitter</a>&nbsp;and<a href="https://www.linkedin.com/company/the-bit-journal/" target="_blank" rel="noreferrer noopener nofollow">&nbsp;LinkedIn</a>, and join our<a href="https://t.me/thebitjournal" target="_blank" rel="noreferrer noopener nofollow">&nbsp;Telegram</a>&nbsp;channel.</p> 
<h2 id="span-style-font-weight-400-faqs-span"><span style="font-weight: 400;">FAQs</span></h2> 
<h3 id="span-style-font-weight-400-what-is-dogecoin-s-current-price-trend-span"><span style="font-weight: 400;">What is Dogecoin’s current price trend?</span></h3> 
<p><span style="font-weight: 400;">Dogecoin is hovering around $0.40, with the 21-day SMA capping it from the upside, but there are indications that this could change soon.</span></p> 
<h3 id="span-style-font-weight-400-what-is-the-next-major-resistance-level-for-dogecoin-span"><span style="font-weight: 400;">What is the next major resistance level for Dogecoin?</span></h3> 
<p><span style="font-weight: 400;">The first major resistance for Dogecoin is the 2021 high of $0.73905 which might lead to a major price action.</span></p> 
<h3 id="span-style-font-weight-400-how-do-low-futures-funding-rates-affect-dogecoin-span"><span style="font-weight: 400;">How do low futures funding rates affect Dogecoin?</span></h3> 
<p><span style="font-weight: 400;">Low funding rates in the futures market point to the fact that there is reduced speculative sentiment which makes the risk of a flash crash low.</span></p> 
<h3 id="span-style-font-weight-400-could-dogecoin-reach-10-in-the-future-span"><span style="font-weight: 400;">Could Dogecoin reach $10 in the future?</span></h3> 
<p><span style="font-weight: 400;">Even if it seems quite an ambitious goal to hit $10, it is achievable due to the market’s potential and new policies.</span></p>

Will Dogecoin Hit $10? Bullish Signals Point to Big Gains Ahead

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