With BTC reaching all time high level, many other cryptos are following suit. Dogecoin has also bounced back strongly from the bottom level. Can it break the all time high level and reach the $1 level.
In this article, we will talk about dogecoin price prediction, weekly analysis and dogecoin news roundup.
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Dogecoin Price Prediction
DOGE is currently trading at $0.1524, with a market cap of $21.85 billion and a 24-hour volume of $3.12 billion.
DOGE has seen a good rally alongside the other memecoins and surpassed the resistance level of $0.05. DOGE then rallied to a high of $0.18 on 28 February.
Got rejected by strongest marked rectangular resistance zone on one weekly time frame, currently being respected by strong trendline support, which if broken would trigger short opportunity.
DOGE is currently facing some resistance at the $0.16 level.
DOGE needs to break above this level to resume its uptrend and target the next resistance levels at $0.18, $0.2, and $0.22.
The next support levels at $0.12, $0.1, and $0.08.
Weekly Price Analysis
The weekly chart of DOGE shows that DOGE has formed a bullish candle, which indicates a strong continuation of the previous uptrend. DOGE has also broken above the 20-week moving average, which acts as a support and resistance level.
The weekly RSI of DOGE is above 70, which indicates that DOGE is overbought and could face some correction or consolidation in the short term.
News Roundup
Some of the news surrounding dogecoin crypto are:
- On 6 March 2024, DOGE was featured on the cover of Fortune magazine, with the title “The Power of the Meme: How DOGE Became a Billion-Dollar Brand”.
- On 4 March 2024, DOGE was accepted as a form of payment by Walmart, the retail giant, who announced that it will support DOGE and other crypto assets on its platform.
- On 3 March 2024, DOGE was burned by the Dogecoin team, who announced that they had permanently removed 5% of the total supply of DOGE from circulation, in order to increase its scarcity and value.
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