Will DOGE Price Break its Trendline and Hit $0.175?

Dogecoin (DOGE) is in a bearish trend. Forming lower lows and higher highs After dropping below the $0.16 threshold on June 12, the downward trend continued this month, with Dogecoin briefly dropping below $0.1 on July 5.

DOGE has bounced back slightly above the $0.1 threshold but is still below a key price level. Significant selling pressure Limit the ascent.

DOGE Trading Approximately $0.108down 1.2% in 24 hours and a price drop of over 25% in the past 30 days. Additionally, DOGE has fallen by over 11% in the past 7 days.

Despite Dogecoin’s struggles, market participants remain hopeful. On the brink of a major bullish breakoutBut can Dogecoin overcome the current bearish momentum and reach the target of $0.17? Let’s explore the possibilities.

DOGE Price Analysis: Can it Break Through the Current Trendline?

Dogecoin (DOGE) has been forming a bearish trend line since June. Above the trend lineA breakout of this line could signal a bullish reversal, but most technical indicators are pointing to a bearish view.

The RSI is at 38, indicating an oversold market, which indicates significant selling pressure but could also lead to a price reversal. Low-price investors Enter the market.

Dogecoin Price Prediction: Will DOGE Price Break Through the Trendline and Reach $0.175?

DOGE price is at the lower limit of the Bollinger band, which usually indicates a bearish market but also a possible reversal. The bars on the MACD histogram are shrinking, indicating that the bearish momentum is weakening. The price is below the 50-day and 200-day SMAs, The bears are in control.

The indicators are showing mixed signals. A trend reversal is possible but uncertain. However, if Dogecoin eventually manages to rise above the trendline, it could push to the $0.17 objective. For this to happen, strong buying pressure would be needed.

Analysts are bullish on Dogecoin: Price could surpass $1

Crypto experts are optimistic about Dogecoin’s potential recovery, with prominent analyst Big Mike recently predicting that Dogecoin could surpass $1 in this bull cycle.

Mike based his predictions on the Elliott Wave Theory. His analysis suggested that Dogecoin had ended its correction phase and was entering a new uptrend.

Big Mike noted that Dogecoin (DOGE) is about to start a new five-wave uptrend. According to him, the third wave of this pattern is often the most powerful, which could significantly boost the price of Dogecoin.

Additionally, analysts point to an ascending channel on DOGE’s chart, supporting their bullish outlook for the coin. He uses Fibonacci extension levels to identify potential price targets, DOGE could reach new highs.

The Volume Profile Visible Range (VPVR) also supports this bullish view, as there is minimal resistance above the current price level, and therefore, this lack of resistance could lead to a price surge if DOGE breaks the current barrier.

This bullish analysis has excited many Dogecoin supporters, raising hopes of significant gains in the coming months. on the other hand, Market remains uncertainThis bullish analysis points to a positive outlook for DOGE.

Analyst Predicts 10x Opportunity for DOGE Amid Market Turmoil

Another analysis suggests that Dogecoin (DOGE) could be a great investment opportunity. The analysis suggests that Dogecoin has rallied back to the 88.6% Fibonacci level and could be at a critical turning point.

The analyst described the current market setup as a “life or death” situation for the coin, noting that DOGE’s larger wave 4 has formed a triangle pattern, suggesting that a breakout could occur soon.

Analysts believe that this setup could lead to a tenfold increase in the price of DOGE. While the analysis supports the growing bullish sentiment towards Dogecoin, traders should exercise caution as investing in cryptocurrencies comes with high risks.

However, while awaiting Dogecoin’s potential breakout, PlayDoge Potential alternatives to DOGE To get big profits.

PlayDoge: The rising star of meme coins that surpasses Dogecoin

PlayDoge ($PLAY) is making waves in the cryptocurrency world with its presale. Crossing the $5.5 million milestone.

This new meme coin combines nostalgia with play-to-earn functionality, garnering significant investor interest as a potential alternative to DOGE. Unlike Dogecoin, PlayDoge has utility through its play-to-earn game, giving it a competitive advantage in the meme coin market.

Why is PlayDoge so popular?

PlayDoge offers a unique gaming experience where users can earn cryptocurrency by caring for virtual pets inspired by the Doge meme. The game rewards players with $PLAY tokens, encouraging engagement and increasing investor appeal.

The game is available on both the Google Store and the Apple Store, making it accessible to a wide range of users. In addition to game rewards, users can bet $PLAY coins to earn rewards. Earn staking rewards up to 93% APY.

This allows PLAY token holders to earn additional income while keeping the circulating supply of the coin low.

Many believe $PLAY is one of the meme coins that will skyrocket in value in 2024. Additionally, meme coins have seen impressive gains this year, and PlayDoge seems well-positioned to mirror this trend.

In addition, in the global video game market Be expected PlayDoge is expected to reach $665 billion by 2030, meaning it is poised for significant growth. PlayDoge (PLAY) is currently trading at $0.00517 during the presale phase. PLAY tokens can be purchased using ETH, USDT, and bank cards.

Disclaimer: Opinions expressed in this article do not constitute financial advice. Readers are encouraged to conduct their own research and determine their risk tolerance before making any financial decisions. Cryptocurrencies are a highly volatile and high-risk asset class.

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