Dogecoin Rockets 30% In A Week, Sparking Hype For Uptober Rally
October 22 2024 - 9:30PM
NEWSBTC
At press time, Dogecoin was found to have gained significantly as
it jumped to $0.141556 following a 1.77% growth that occurred
within the last 24 hours. In a week, the meme coin has gone pretty
high at a 30% increase which propelled its 24-hour trading volume
to $1.9 billion with an upsurge of 35%. Related Reading: Shiba Inu
Soars: Analyst Predicts 71% Rally In ‘Meme Super Cycle’ – Details
Positive Sentiment And Indicators For DOGE Ascent According to
market analysts, there are a number of indicators that show it is
the right time to invest in DOGE. As observed by Digitalcoinprice,
several technical signals have already turned green, indicating
traders see brightness in the future of the token. The coin has
risen by 37% in the last 30 days. The forecasts hint that the coin
might go even higher. One of the strongest indications of the bull
trend is the curve of the 50-day Simple Moving Average going
upward, which may be a good period for buyers to get in on the
action. However, the traders are holding back as the 200-day SMA is
going down. As reported by some, DOGE may even go to $0.13 before
the year ends. Nevertheless, on the bigger picture, there is still
a consensus over the fact that it is still moving in a positive
direction for the medium-term trends of the coin. Experts’
Predictions And Influences On Dogecoin’s Future Other high-level
cryptocurrency traders also, such as DonAlt, believe that Dogecoin
has the makings of being bullish and can potentially exceed the $1
mark. Analysts like Crow see the occasional triangular patterns of
Dogecoin in its price chart that reflect phases of consolidation
from 2014 to 2021 and can indicate a breakout. Dogecoin is like
Bitcoin of the meme coins! You don’t like it? Too bad, you don’t
matter.$DOGE is going to $1. pic.twitter.com/mr5tVxFS2c — CROW
(@TheCrowtrades) October 18, 2024 Crypto trader Kevin has
highlighted a recent 3-day flip in Dogecoin. According to this
technical indicator, the cryptocurrency is supposed to trend in the
positive direction. In the past, such an indicator resulted in a
huge price rally; DOGE had a 210% rally once such a signal
appeared. Related Reading: ApeCoin Climbs Over 100% On Major Tech
Advancements – Details The last time #Dogecoin flipped the 3
Day super trend and created a buy signal #DOGE pumped 212%. I think
we can see something similar if not bigger this time around
especially if #BTC enters into price discovery
pic.twitter.com/azHFpo1plo — Kevin (@Kev_Capital_TA) October 19,
2024 Kevin suggested that if Bitcoin falls into a discovery phase
then it’s likely Dogecoin will follow. He also mentioned the
upcoming “golden cross” on the weekly chart, which is a bullish
signal for DOGE to continue upward. Meanwhile, it’s still Elon Musk
that influences these price movements. A passing comment by the “US
Department of Government Efficiency” (D.O.G.E) has caused a price
surge. Adding to this complexity is his political involvement in
recent news. Analysts feel Musk’s overall influence and association
with pro-crypto US election candidates such as former US President
Donald Trump will aid in an increase in value for DOGE. Featured
image from Techopedia, chart from TradingView
ApeCoin (COIN:APEUSD)
Historical Stock Chart
From Nov 2024 to Dec 2024
ApeCoin (COIN:APEUSD)
Historical Stock Chart
From Dec 2023 to Dec 2024