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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Dogecoin Must Cling To This Level Lest DOGE Slip Quickly To $0.048

Christian Encila
Christian Encila
2 years ago
2 mins read
Dogecoin

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Dogecoin (DOGE) has been swirling downwards since the latter part of 2021, specifically in November.

  • DOGE is currently up by 0.88% or trading at $0.06247
  • Dogecoin has been trailing down since November 2021
  • DOGE showing some bearish movement

DOGE has been on a rollercoaster ride with up and down sequences. The popular dog meme coin is seen to have rallied the previous month generating double-digit gains in terms of percentage.

One significantly rally is in August when DOGE managed to surge from a low of $0.059 peaking to a high of $0.087.

Dogecoin is currently sitting in a demand zone seen since July. According to CoinMarketCap, DOGE is up by 0.88% or trading at $0.06247 as of this writing. With the rate it’s going, Dogecoin may possibly maneuver towards the $0.07 zone.

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Bitcoin (BTC) Must Make It Past This Threshold To Bounce Back

2 years ago

DOGE Likely To Take Detour Towards Bears

On a longer market timeframe, DOGE is looking bearish while Bitcoin is similarly showing some weakness. DOGE was able to take a full grip on the support zone but it seems that the momentum is taking the detour towards the bears.

Now, Bitcoin has always made a strong influence on the performance of DOGE and other altcoins. With that being said, it moves alongside Bitcoin regardless of whether the king of crypto wings it or crashes down.

Source: TradingView

From July to August, DOGE is seen to have lingered in the range of $0.063 to $0.07. As of press time, BTC is still facing strong hurdles at the $20.4k and $20.8k levels.

With that being said, if Bitcoin can successfully blaze past these levels then DOGE will have better chances of moving higher on the charts.

Dogecoin’s CMF Shows Intense Selling Pressure In August

Technical indicators for DOGE are showing a bearish perspective. Additionally, RSI has also moved down the 50 zone as seen in the past couple of days which validates the coin’s bearish momentum.

Similarly, OBV isn’t showing signs of slipping as it firmly held on to the key support line that it has been sitting in for the past few months. CMF also has displayed intense selling activity in August.

Further, the Bollinger Bands is shown to spike which indicate intense volatility following DOGE’s slump from the $0.085 mark.

In any case, if OBV can’t stay on the support zone in the next few weeks, then DOGE might plunge below $0.055.

It’s important for DOGE to remain at the $0.061 level which has been particularly been pivotal in the months of February and March in 2021 because once DOGE loses its grip on those key levels, the meme coin can drop sharply to the $0.049 and $0.05 levels.

Related Reading

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Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days

2 years ago

Crypto total market cap at $952 trillion on the daily chart | Source: TradingView.com
Featured image from Finance Magnates, chart from TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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