With a 2% rise in the broader crypto market over the past few days, investor sentiment is increasing. This positive trend has notably impacted Dogecoin, the popular meme coin, causing a significant surge in its price.
The question on investors’ minds now is whether Dogecoin will reach the $0.1 mark soon, as its recent performance reflects an upward trajectory in the volatile crypto landscape.
All eyes are on Dogecoin to see if it can maintain its momentum and achieve the predicted milestone.
Dogecoin Price Action
Since October 20, Dogecoin (DOGE) has been on a rollercoaster ride. The coin pumped to $0.074 on October 27 from a low of 0.057, representing a notable increase of 22%.
But, this rally was short-lived as some individuals decided to take profit from the price increase.
According to TradingView, its value declined to $0.059 on October 31, losing some of its gains. Still, the buyers didn’t give up, and the price gained momentum. This time, it broke the previous primary resistance level at $0.074.
Dogecoin (DOGE) pumped significantly, reaching a high of $0.087 on November 18.
This means that November has generally favored Dogecoin and the crypto market. The bears are still trying to send the price to the bottom. But, it seems the bullish sentiment is not ending anytime soon.
Despite recent fluctuations, Dogecoin has shown resilience in the last seven and fourteen days, recording gains of 4.1% and 10.9%, respectively.
Impressively, Dogecoin has maintained a consistent growth pattern over the past month, surging by more than 33%. The trend continues in the most recent 24 hours, with Dogecoin registering an additional gain of over 3%.
These positive performance indicators suggest a sustained upward trajectory for Dogecoin, capturing the attention of investors and enthusiasts alike. According to CoinGecko, Dogecoin is trading at $0.080749 with a volume of over $740 million.
Dogecoin Price Analysis: DOGE/USDT Formed Golden Cross. What’s Next?
Dogecoin is exhibiting strong bullish signals as it positions itself above the Simple Moving Average (SMA) indicators. Also, the Simple Moving Average indicator has formed a Golden Cross.
This occurrence, where the short-term SMA crosses above the long-term SMA, is traditionally considered a bullish indicator, signifying a potential upward trend.
However, caution is advised as the Relative Strength Index (RSI) is at 70, indicating that Dogecoin is overbought territory.
While an RSI of 70 or above typically suggests that an asset may be overvalued and a correction could be imminent, the sustained position above the SMA indicators and the Golden Cross formation offers a prevailing bullish sentiment in the market.
In a market downturn, the SMA line may emerge as a robust support level, preventing a significant drop inDogecoin’ss price. Traders and investors should closely monitor these technical indicators to gauge market sentiment and make informed decisions.
DOGE’s Double Bottom: Weekly Chart Signals Potential Trend Reversal
Dogecoin has displayed a noteworthy technical pattern on the weekly chart, forming a double bottom. This bullish reversal pattern typically signals a potential trend reversal from a downtrend to an uptrend.
This occurrence often signifies a shift in market sentiment, with the potential for an upward price movement. However, traders should remember that the broader crypto is filled with noise. Thus, they should research to filter out this noise before investing.
Astrobotic to Send Dogecoin to the Moon
Earlier this week, the Dogecoin team shared an interesting post through X platform. This post also contributes to the bullish sentiment within the Dogecoin community. Potentially, this momentum could continue in the coming days.
🚀Dogecoin On The Moon Update🌕
Exciting news for the Dogecoin community!🌑
Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023. Funded by our community in 2015, this mission embodies collective effort! pic.twitter.com/QESz4ikHln
— Dogecoin (@dogecoin) November 16, 2023
According to the post, a popular space company, Astrobotic, is planning to
send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023.
This means that the delivery of physical Dogecoin will take place in December this year, according to the post.
Astrobotic’s announcement on May 8, 2021, came after they found a Dogecoin submitted in 2015 during the Moonbox integration with the Peregrine lunar lander, which is scheduled to land on the moon in 2021.
While integrating our #MoonBoxes with our Peregrine lunar lander (set to land on the Moon in 2021), we stumbled across this #DogeCoin submitted in 2015. Dogecoin is going to the ACTUAL Moon 🌙@DogecoinOnMoon @elonmusk pic.twitter.com/Qj1WznK8FH
— Astrobotic (@astrobotic) May 7, 2021
The idea of Dogecoin making it to the real moon brings an interesting twist to its journey in cryptocurrencies. Notably, this latest development could potentially push the price of DOGE to $0.1 faster.
Dogecoin Top Alternative: Bitcoin ETF
Bitcoin ETF spot availability is around the corner, and a new crypto project capitalizes on the excitement. This new crypto project, Bitcoin ETF Token (BTC ETF), is linked to the potential approval of a spot Bitcoin ETF.
The token has raised more than $1.2 million in its ongoing presale. This is because many investors believe strongly in the project’s potential when it launches. With how the presale is going, it will likely end faster.
Bitcoin ETF Token Presale: Grab Your Tokens at an Early-Bird Price
>>>Visit Bitcoin ETF Token Presale<<<
In this presale, investors can get 40% of the total BTCETF supply, which is 525 million tokens. The price during the presale starts super low at $0.0056 per token, and it goes up bit by bit as they reach specific fundraising goals.
This means that investors who enter the market now can buy at a meager rate. This could turn to huge gains when the token comes live in trading exchanges.
Due to the token’s potential, popular crypto sites such as Yahoo Finance, Finbold, and BeInCrypto have endorsed the project.
Further, the project has dragged the attention of prominent crypto influencer Alessandro De Crypto. In a recent YouTube video, he expressed his optimism on the project. In addition, the project’s Telegram channel and Twitter account are gaining more followers daily.
Upon the conclusion of the presale, the token is anticipated to be listed on top crypto exchanges. This will boost liquidity and make it easy for everyone to buy the token. Also, the listing may increase the token’s demand and price.
Ultimately, if the SEC accepts the Bitcoin ETF spot, it will trigger a massive bullish sentiment in the market. Interested prospects should consider visiting the project’s website to learn more. You can buy the token using USDT, ETH, or a card.