Dogecoin’s Next Rally? Analysts Predict Uptrend Resumption
It is believed that Dogecoin (DOGE) is poised to resume its uptrend after undergoing a prolonged consolidation phase. Following Donald Trump’s election victory, the leading meme cryptocurrency experienced a surge of 220%, climbing from $0.15139 to $0.48434. This increase was fueled by speculation that the incoming administration might favor cryptocurrency. However, the rally has recently stalled, with DOGE surrendering some gains to trade at approximately $0.38429. Analysts now suggest that the asset is primed for another upward movement. Dogecoin (DOGE) Ready for Uptrend Resumption? Crypto trader Olivier Đ X has indicated that Dogecoin’s price is preparing to reverse its trend upward. This observation was shared in an X post on Tuesday, December 17. The analysis highlights a breakout from a descending channel on DOGE’s 4-hour candle chart, with the meme coin expected to resume its uptrend after surpassing resistance near the $0.4140 mark. This breakout pattern may evolve into an ascending triangle, further supporting bullish momentum. Related Article: Why XRP Holders Are Predicted to Be Among the Wealthiest: Key Analysis Olivier Đ X’s views are echoed by other analysts, including The Cryptomist, who pointed out that DOGE is forming an ascending triangle pattern on its daily candle chart. This pattern is often associated with significant upward price movements. While specific price targets were not disclosed, Javon Marks has proposed that DOGE could surpass its all-time high of $0.73, with long-term projections reaching as high as $3. Shifting Sentiment Around Dogecoin (DOGE) Recent data indicates that investor sentiment toward DOGE has turned negative. According to metrics shared by Ali Martinez via Santiment Feed, DOGE’s weighted sentiment dropped sharply from nearly five on Santiment’s scale in mid-November 2024 to -0.6. Additionally, social mentions of the asset have plummeted, falling from over 3,200 to fewer than 300. Historically, overwhelming negative sentiment has been interpreted as a contrarian indicator by Santiment Feed, suggesting that DOGE’s downturn could signal the potential for a strong rebound. As analysts continue to observe the evolving patterns on Dogecoin’s charts, a clearer picture of its trajectory is expected to emerge in the coming weeks.
5.8 Billion Dormant Dogecoin Reactivated: What Does This Mean for DOGE Price?
A massive reactivation of dormant Dogecoin (DOGE) tokens has been observed, with 5.8 billion tokens moving within the last 24 hours. This activity was highlighted by on-chain data shared by technical analyst Ali Martinez. This unusual activity has coincided with a significant increase in DOGE’s Age Consumed metric, which measures the movement of long-inactive coins. Data presented by Martinez reveals two major signals. The first is a substantial rise in the Age Consumed metric, indicating the transfer of old DOGE holdings. The second is a dramatic spike in daily circulation, reflecting heightened activity. Previously, the daily circulation of DOGE was approximately 1.67 billion tokens. However, this number spiked abruptly to 5.8 billion tokens. The sudden transfer of billions of DOGE tokens is thought to suggest whale profit-taking, portfolio adjustments, or anticipation of upcoming market changes. Historical Trends in Dogecoin Price Movement Historically, spikes in the activity of long-dormant tokens have often preceded significant price changes. For example, during the first week of November, low Age Consumed metrics were recorded alongside daily circulation of less than 1 billion tokens. In the second week of November, as Dogecoin’s price began a major bull run, the Age Consumed metric experienced a sharp increase. This coincided with over 5 billion DOGE tokens circulating daily. Related Article: Over $272 Million in XRP Shorts Could Face Liquidation at $3 When Dogecoin’s price entered a consolidation phase, these metrics reverted to lower levels. However, the current spike in activity observed yesterday could indicate the potential for another major rally. Bitcoin’s recent rise to an all-time high of $107,800, before settling at around $106,000, adds further context. Historically, altcoins and meme coins like Dogecoin have exhibited significant price swings after Bitcoin stabilizes following a series of price increases. At the time of writing, Dogecoin is trading at $0.3991, reflecting a 2% decline over the past 24 hours. The data suggests that this may be an opportunity for market participants to accumulate DOGE before a potential price surge. For context, Dogecoin experienced a 234% increase in just three weeks during November. What Could Happen to Dogecoin’s Price? Analysts have offered various predictions regarding Dogecoin’s potential price movement as bullish momentum builds. Bitcoin analyst “Crow” has forecasted a straightforward path for Dogecoin to achieve a new multi-year high. He predicts an initial rise to $0.48, followed by a minor pullback, then further gains to $0.52, and eventually a climb toward $0.66. Cantonese Cat, another analyst, has suggested that DOGE could soon break its all-time high of $0.74. This prediction is based on patterns observed during 2021. Additionally, Crypto Scofield has expressed a more optimistic view, suggesting that Dogecoin’s current bullish momentum is even stronger than in November. A price of $3 has been projected to emerge “any time soon.”
Dogecoin’s Next Move: Will It Break the $0.50 Barrier?
Dogecoin’s on-chain activity has surged, with average transaction sizes seeing a dramatic rise. On November 12, 2024, the average transaction size hit a seven-day peak of $33,411, while the seven-day average hovered around $11,960. This shift indicates a growing presence of larger transactions on the network, pointing to possible interest from institutional investors or cryptocurrency whales. Volatility Climbs to Elevated Levels Dogecoin’s market volatility has also seen a significant increase. The 30-day volatility reached 147%, reflecting heightened price fluctuations. Historically, such elevated volatility often signals the likelihood of sharp market movements, which could result in either a substantial rally or a major price correction. Related article: DOGE Whales Accumulate 210 Million Tokens Amid Price Drop Following a strong rally in early November, Dogecoin’s price reached approximately $0.40 before entering a consolidation phase. The asset faced resistance near $0.48, leading to a downward movement within a descending channel. Source: CoinMarketCap Key support levels include the 50-day EMA and the $0.35 price point. If Dogecoin fails to hold these levels, it could see a decline toward the 200-day EMA at $0.21. Bullish Breakout Could Trigger a Rally On a more optimistic note, Dogecoin could regain bullish momentum if it breaks above the descending resistance trendline. Traders are closely watching the $0.42 to $0.45 price range for signs of a breakout. A successful push above these levels might pave the way for a rally toward the psychologically important $0.50 mark. This price point serves as a critical milestone for DOGE’s upward trajectory. Related article: Dogecoin Price Surge Predicted: Analyst Expects DOGE to Reach $3-$5 Soon While Dogecoin’s growing transaction sizes and heightened volatility suggest rising market activity, concerns remain. The asset’s inability to sustain previous highs and its relatively low volume raise questions about the strength of any potential rally. A significant increase in trading volume could signal the start of a fresh upward trend. Additionally, broader market conditions within the cryptocurrency sector will play a crucial role in determining if DOGE can reclaim its previous highs.
ADA Analyst Predicts Dogecoin Price Surge to $24
Cantonese Cat, a prominent cryptocurrency market analyst, has proposed an ambitious prediction for Dogecoin. The forecast suggests that Dogecoin’s value could escalate to $24, marking a staggering potential gain of over 5,823% from its current price. This projection is supported by technical analysis and a surge in whale activity. Dogecoin’s Recent Performance Indicates Potential Mixed performance has been observed for Dogecoin in recent weeks. A sharp rally in early November allowed the token’s price to surge by 132% within three weeks, reaching $0.4800—a three-year high. However, the cryptocurrency has since retraced by 16%, now trading near $0.4052. Despite this decline, optimism continues to be fueled among analysts and investors. Key insights have been offered by Cantonese Cat regarding Dogecoin’s price movement. The analyst has noted that significant support levels, including the 0.786 Fibonacci extension, have been successfully defended by the cryptocurrency. This development hints at the potential for a major breakout. Historical Trends Could Lead to $24 Target Historical performance of Dogecoin has been highlighted to bolster the $24 prediction. A similar pattern was exhibited during the 2021 bull cycle, where the token rallied beyond the 0.786 Fibonacci level to surpass the 2.272 Fibonacci extension. This move resulted in a peak price of $0.73995. A repetition of this historical trend has been predicted by Cantonese Cat, who believes that Dogecoin could reach the same Fibonacci level at $24. Achieving this target would elevate the token’s market capitalization beyond $3.5 trillion, establishing Dogecoin as a dominant force within the crypto market. Whale Activity Signals Confidence in ADA and Dogecoin In addition to technical analysis, whale activity has been identified as a significant factor in the bullish sentiment surrounding Dogecoin. Ali Martinez, another market analyst, has pointed to large-scale accumulation by major holders as evidence of growing confidence in the asset’s future. Related Article: DOGE and Ripple Gains May Be Overshadowed as RXS Prepares for a Potential $10 Surge Data shared by Martinez reveals that whales holding between 10 million and 100 million DOGE acquired 160 million tokens, valued at approximately $64 million, over the last 24 hours. This brings the total holdings of these entities to 22 billion DOGE, worth nearly $9 billion. Such large purchases are typically associated with strong market sentiment and are often precursors to substantial price movements. The willingness of high-value investors to buy during a price dip suggests they anticipate significant upward momentum for Dogecoin. Resistance Levels Pose Challenges but Optimism Remains Despite the broader cryptocurrency market’s bullish trends, Dogecoin faces key resistance levels that must be overcome to sustain growth. Even so, analysts such as Cantonese Cat and Ali Martinez remain optimistic. Historical trends, combined with whale accumulation and technical indicators, suggest that Dogecoin is well-positioned for a significant breakout. While uncertainty persists, the potential for Dogecoin to achieve remarkable gains remains a key point of discussion in the cryptocurrency market.
DOGE and Ripple Gains May Be Overshadowed as RXS Prepares for a Potential $10 Surge
Tokens like Dogecoin (DOGE) and Ripple (XRP) have achieved triple-digit growth, capturing the attention of investors. However, Rexas Finance (RXS), a new contender with unique real-world utility, is now positioned to outshine these popular assets. Trading at $0.125 during its ninth presale phase, RXS has already climbed 320% from its initial price of $0.030, generating $24.75 million in funding. Analysts predict a further surge, with the token targeting a launch price of $0.20 and an eventual rally to $10. Revolutionizing Asset Ownership with Rexas Finance Rexas Finance has been transforming asset ownership through its focus on Real-World Asset (RWA) tokenization. This innovative approach uses blockchain technology to tokenize assets like real estate, gold, and art, making them accessible to a global audience. By enabling both fractional and complete ownership, the platform removes barriers to traditionally exclusive investment opportunities. The vast markets targeted by Rexas Finance highlight its growth potential: Through its Launchpad and Token Builder Tool, the platform simplifies the tokenization process, allowing anyone to tokenize or invest in these markets without prior technical expertise. This ease of access has driven interest in the RXS presale, which has already sold 321,914,000 tokens, raising $24.75 million. Related Article: SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074 RXS Presale Momentum: A Steady Climb Toward Success RXS has shown consistent momentum across multiple presale stages: Analysts suggest early investors could see another 60% price increase as the presale progresses. Post-launch, RXS is projected to reach $10, marking a potential 8,000% gain from its presale price. Why RXS Stands Out Among Crypto Investments Rexas Finance differentiates itself from other cryptocurrencies through its focus on transparency, security, and real-world use. By making asset tokenization accessible to a global audience, it bridges the gap between traditional markets and blockchain technology. Security has been prioritized, as demonstrated by a comprehensive CertiK audit, which enhances the platform’s credibility. Furthermore, listings on CoinMarketCap (CMC) and CoinGecko have boosted its visibility, allowing investors to track its progress and engage with the project. To further attract interest, Rexas Finance has launched a $1 million giveaway with 20 winners, each receiving $50,000 in RXS tokens. This initiative has already garnered over 360,000 entries, increasing community participation. DOGE and XRP: Strong Contenders with Limitations While Dogecoin (DOGE) and Ripple (XRP) are well-known names in the crypto space, their growth has been primarily driven by market sentiment. DOGE heavily relies on social media trends and meme culture, while XRP focuses on institutional cross-border payments. In contrast, Rexas Finance offers a utility-based approach, addressing inefficiencies in traditional finance through asset tokenization. This strategy positions RXS as a more sustainable investment option, with the potential to outperform speculative assets like DOGE. How to Participate in the RXS Presale Investing in RXS during the presale phase provides a unique opportunity to enter early. The process is straightforward: RXS as a Game-Changer in Asset Tokenization Rexas Finance combines blockchain technology with trillion-dollar markets, creating a platform with substantial growth potential. The success of its presale, its CertiK audit, and its strategic listings on major platforms validate its legitimacy. As RXS approaches its $0.20 launch price and aims for a $10 milestone, the opportunity for significant returns becomes clear. Compared to DOGE and XRP, Rexas Finance offers a more robust value proposition, making it a standout investment opportunity. By investing now, participants can position themselves at the forefront of an emerging revolution in asset tokenization.
DOGE Whales Accumulate 210 Million Tokens Amid Price Drop
During the recent price decline, whales significantly accumulated Dogecoin (DOGE) tokens. These purchases highlight the ongoing interest of large investors in the meme cryptocurrency. Whales Add Over 210 Million DOGE Data provided by market analyst Ali Martinez revealed that large Dogecoin holders took advantage of the latest price dip to increase their holdings. The on-chain insights were shared using analytics from Santiment, showcasing the substantial accumulation. Whales controlling between 10 million and 100 million DOGE were reported to have added approximately 210 million tokens during this period. These tokens, valued at over $88 million at the current price of $0.42, brought their cumulative holdings from 21.64 billion to 21.85 billion DOGE. When reviewed over a longer timeline, even more significant accumulation behavior has been identified. In late October, the holdings of these whales stood at 18.55 billion tokens. Over the past two months, 3.3 billion DOGE, valued at $1.39 billion, have been acquired, showing a consistent buying trend. DOGE Sees Recovery After Price Dip The recent price slump in Dogecoin, which led to an 11.22% drop on December 9, marked its steepest single-day decline in five months. This drop was linked to the broader market correction initiated by Bitcoin’s fall from $101,000 to the lower $90K range. Related Article: Warning Issued to XRP Community Before RLUSD Stablecoin Launch DOGE reached its lowest price in two weeks at $0.3653 before rebounding by nearly 15%. While the drop caused widespread panic-selling and liquidation of long positions, whales capitalized on the situation by acquiring more tokens. Market expert Scofield noted that DOGE briefly fell below a critical lower trendline that had served as support since early November. However, the rebound has now propelled it back above this trendline, indicating a potential recovery. Potential for a DOGE Rally Another analysis provided by Cryptomist highlighted an ascending triangle pattern in Dogecoin’s price action. DOGE had dropped below this triangle during the recent market turbulence. However, if the token manages to push back into the pattern, a rally to all-time highs (ATH) could become possible. This accumulation by whales during bearish phases underscores their strategy of buying dips and could signal further positive momentum for Dogecoin in the near term. The ongoing whale activity demonstrates confidence in DOGE’s long-term potential despite short-term market volatility. As the meme coin continues to recover, eyes will remain on whether it can achieve new highs or consolidate further gains.
DOGE Revolution Brings New Energy to Capitol Hill
Excitement surrounded the Department of Government Efficiency (DOGE) as lawmakers learned about its cost-cutting mission on Capitol Hill. House Speaker Michael Johnson expressed enthusiasm by declaring that DOGE’s efforts marked a “new day in Washington and America.” He stated that government inefficiency had persisted for too long and called for immediate changes. Johnson emphasized the importance of reducing government size and improving its performance. The announcement came after Elon Musk and Vivek Ramaswamy, the leaders of DOGE, presented their vision to members of Congress. Their plans were met with optimism, especially among fiscal conservatives eager to see government waste eliminated. Musk and Ramaswamy Gain Star Treatment in Congress Elon Musk, his son Lil X, and Vivek Ramaswamy were warmly received in Congress. Staff and lawmakers flocked around them, with many taking selfies and engaging in discussions. Meetings were held with the chairs of key committees, bicameral DOGE caucus leaders, and a larger group of Republicans. Representative Marjorie Taylor Greene highlighted Musk’s emphasis on verifying every federal payment for legitimacy. Greene shared that Musk proposed creating “naughty” and “nice” lists to rank lawmakers based on their spending votes. Representative Aaron Bean revealed that Musk’s ideas, including accountability lists for spending decisions, were well-received. He stressed that reckless government spending must stop to address the nation’s growing debt. Reports Highlight Wasteful Spending and DOGE’s Mission DOGE’s social media spotlighted examples of taxpayer money being wasted. Reports showed the National Institutes of Health spent $1.8 billion on racism studies and over $150 billion on illegal immigrants. The Government Accountability Office estimated $100 billion in improper Medicare and Medicaid payments for fiscal year 2023. The Pentagon was criticized for failing to account for $824 billion, emphasizing the need for financial reform. Congressional Republicans are determined to identify inefficiencies and redirect funds responsibly. Read Also: XRP Trading Surges as Ripple CEO Sparks Discussions Among XRP Army Fiscal Challenges Ahead for DOGE The federal debt has surpassed $36 trillion, with deficits expected to exceed $1 trillion annually. Concerns have grown that prolonged fiscal mismanagement could trigger an economic crisis. DOGE’s authority to enforce recommendations remains uncertain, but Musk suggested that annual spending cuts of $2 trillion should be pursued. It is unclear whether DOGE will address significant expenditures like Social Security, Medicare, Medicaid, or the Department of Defense. Lawmakers Rally Behind DOGE’s Goals Many Republicans and a few Democrats expressed eagerness to support DOGE’s initiatives. Representative Greene vowed to expose wasteful spending and inefficiency within government agencies. Senator Joni Ernst launched the Senate DOGE caucus by revealing inefficiencies in telework policies. Her report noted that only 6% of federal employees work in offices daily, leaving government buildings underused. Ernst proposed selling off unused properties or ending leases to cut costs. DOGE’s Potential for Change in Washington The DOGE initiative has inspired optimism on Capitol Hill, with lawmakers hoping it can transform government spending culture. Its success will depend on bipartisan cooperation and the commitment to reducing waste while tackling fiscal challenges. DOGE’s introduction marks a critical step toward accountability and efficiency in federal operations, igniting hopes for a brighter economic future.
Dogecoin Hits $62 Billion Market Cap: Can the Momentum Last Through December?
A significant surge in Dogecoin’s value has recently been observed, pushing its trading price to approximately $0.44. This marks a sharp recovery from its October lows below $0.10. The rally indicates that Dogecoin is moving firmly into a recovery phase. Technical indicators have played a pivotal role in this bullish sentiment. The 50-day moving average at $0.26 has consistently maintained support, while the 200-day moving average at $0.15 has provided long-term stability. A widening gap between these averages suggests that market momentum could remain positive. The Relative Strength Index (RSI) has been measured at 62, signalling a cooldown from November’s highs but leaving room for upward movement. Resistance is noted at $0.50, while support lies at $0.40 and $0.35, offering key levels to monitor for possible consolidation or breakouts. source:coinmarketcap Dogecoin’s Network Activity Supports Growth On-chain metrics have shown that Dogecoin’s network activity is experiencing strong growth. In November, transaction volumes peaked above $10 billion daily before stabilizing at $2.44 billion in early December. These figures indicate sustained trading interest and a healthy network. Read Also: Ripple’s Top Lawyer Criticizes SEC for Cryptocurrency Market Suppression Market Projections for Dogecoin in December If Dogecoin breaks the $0.50 resistance level, it could climb to $0.60 or higher by mid-December. The rising market capitalization and increased network activity may attract further retail investment, creating additional momentum. However, failure to hold the $0.40 support level could lead to a decline toward $0.35. A decrease in transaction volumes and active addresses could heighten this risk. Additionally, profit-taking by major holders, often called “whales,” might increase market volatility. Broader cryptocurrency market trends, particularly Bitcoin’s performance, are also expected to play a key role in shaping Dogecoin’s trajectory. Dogecin’s Path Forward Dogecoin’s recent performance highlights its strengths and potential vulnerabilities. As its market cap hovers around $62 billion, the next few weeks will prove critical in determining whether its momentum can be sustained. Staying informed about market dynamics and network activity will be essential for investors looking to navigate Dogecoin’s volatile landscape effectively.
Dogecoin Battles Key Resistance: Will $0.40 Hold or Break?
Dogecoin (DOGE), the popular meme-inspired cryptocurrency, stands at a pivotal point as it approaches a crucial resistance level. According to crypto analyst Ali Martinez, DOGE is currently battling resistance at $0.40. A sustained breakout above this level could pave the way for further gains, attracting increased buying interest. Martinez highlights that if DOGE manages to hold above $0.40, it could trigger a bullish signal. In this scenario, Dogecoin might aim for $0.43, potentially setting the stage for a stronger upward momentum. Downside Risks: Support Levels to Monitor However, failure to break past the $0.40 resistance may lead to another decline. The immediate support levels to watch are $0.36 and $0.34. Related article: Can Dogecoin Reach $1? Analysts Predict a 120% Surge for DOGE A dip below these points could indicate bearish sentiment, at least in the short term. Such a move might prompt further losses, pushing the price toward the $0.30 mark. Recent Price Action and Future Outlook In today’s session, Dogecoin attempted to breach the $0.40 mark but fell short, hitting intraday highs of $0.399. Despite this, DOGE rebounded, trading at $0.394 at the time of writing—up 4.16% in the last 24 hours. This recovery follows a dip to $0.364 during Tuesday’s sell-off. Over the next few days, traders will closely watch whether DOGE can break above or fall below the $0.40 level. Related article: Dogecoin Struggles at $0.40: Will It Reclaim Its Monthly High? A successful breakout could push Dogecoin to retest its yearly high of $0.48. If bullish momentum strengthens, DOGE might target $0.50 and eventually $0.59. Conversely, a drop below $0.36 and $0.34 could signal a loss of bullish control, triggering a deeper correction. In a positive turn for DOGE, Valour, a cryptocurrency fund issuer, has launched the first Dogecoin exchange-traded product (ETP). This ETP will trade on Sweden’s Spotlight Stock Market, offering both retail and institutional investors regulated exposure to Dogecoin. This development could enhance DOGE’s appeal and provide additional support for its price in the coming months. As Dogecoin hovers near critical levels, traders and investors should remain alert to potential shifts in momentum.
Doge and SHIB Rank Among Top Assets on MetaMask
Dogecoin and Shiba Inu have been identified as two of the most traded cryptocurrencies on MetaMask. These meme-inspired tokens ranked among the top five assets swapped on the platform over the past week. MetaMask’s latest activity report confirmed this trend, showcasing the growing prominence of meme-based cryptocurrencies. Pepe (PEPE), a frog-themed token, took the top spot, while Doge came in second. Solana (SOL), known for its fast blockchain, ranked third, followed by Shrub (SHRUB) and Shiba Inu. MetaMask’s Swap Feature Enhances Token Accessibility These rankings were determined by user activity on the Ethereum mainnet using MetaMask’s swap feature. Introduced in October 2020, the feature allows direct token swaps within the wallet, eliminating the need for centralized exchanges. Initially launched for desktops, the service was extended to mobile platforms, making it easier for users to trade tokens. Read Also: Shiba Inu Price Rebounds: Will It Sustain Momentum? Growing Market Influence of Doge and SHIB The strong market performance of Dogecoin and Shiba Inu underscores their rising influence in the cryptocurrency landscape. Increased trading activity has been observed for both tokens, partly attributed to external factors like political developments. Dogecoin’s price has surged by 17% in the past week, currently trading at $0.4295. Its trading volume initially increased by 126.5% to reach $19.23 billion before settling at $12.21 billion. Shiba Inu’s (SHIB) Recent Market Gains Shiba Inu has also demonstrated strong performance, breaking the $0.000025 resistance level last week. The token peaked at $0.00002704, reflecting an 8.78% increase within 24 hours. Its trading volume grew by 113.82%, totalling $3 billion, further highlighting its sustained market relevance. At present, SHIB is trading at $0.00002575. Meme Tokens Gain Recognition in the Crypto Market Including Dogecoin and Shiba Inu among the top swapped tokens on MetaMask emphasizes their significance in the digital asset ecosystem. The growing popularity of meme-based cryptocurrencies reflects changing user preferences and market dynamics. With increased trading volumes and strong performance, Doge and SHIB play a vital role in cryptocurrency.
