The post Dogecoin price prediction – Examining the memecoin’s road to $0.30 appeared on BitcoinEthereumNews.com.

DOGE’s weekly and daily price charts remained in the green However, a few market indicators leaned bearish for the altcoin  While a few top cryptos registered price corrections over the last seven days, Dogecoin [DOGE] acted differently. While that happened, a bullish pattern formed on the memecoin’s price chart, one which could soon result in yet another bull rally.  Dogecoin’s bullish week CoinMarketCap’s data revealed that Dogecoin’s price hiked by more than 6% in the last seven days. This bullish trend continued in the last 24 hours or so, as its value appreciated by another 3%. At the time of writing, DOGE was trading at $0.1337 with a market capitalization of over $19 billion. Hence, the question – Can it go any higher? Popular crypto analyst Kevin recently shared a tweet highlighting a bullish falling wedge pattern of DOGE’s price chart. According to the same, the world’s largest memecoin’s price has been consolidating inside the falling wedge for quite some time now. In fact, at press time, it was getting ready to break out. In the event of a successful breakout, DOGE might hit $0.30 in the coming days or weeks.  Source: X Will DOGE actually break out? To assess this scenario further, AMBCrypto then took a closer look at the memecoin’s current state to better understand whether it would manage to break out. Our analysis of Santiment’s data revealed that DOGE’s trading volume declined while its price increased. This is generally considered a bearish signal. The memecoin’s MVRV ratio dropped, which can also be inferred as a bearish development. Additionally, Dogecoin’s weighted sentiment remained in the negative zone. To put it simply, bearish sentiments retained their dominance across the market.  Source: Santiment Our analysis of Coinglass’ data revealed yet another bearish signal. DOGE’s long/short ratio registered a decline. This…

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Filed under: News - @ July 28, 2024 12:14 pm