Fun

Dogecoin Eyes $1 Milestone: Is A $100 Billion Market Cap Next?

News Feed - 2024-11-20 03:11:32

Este artículo también está disponible en español.


The cryptocurrency known for its climb fueled by memes, Dogecoin (DOGE), is slowly approaching crucial price points that can cause a lot of market activity.


The token, which has regained attention from both casual investors and traders, might be preparing to revisit its all-time high (ATH) of $0.73, a level tied to an ambitious $100 billion market cap. Related Reading XRP Mania On The Rise: ATH Predictions Backed By Solid Google Search Interest 19 hours ago


Cryptocurrency specialist Master Kenobi is of the opinion that this particular milestone can give a psychological edge not only to the holders of Dogecoin but also to the whole cryptocurrency community at large.


Dogecoin may use this valuation as an advertising of sorts, reviving interest and attracting new investors to the ecosystem. It is yet unclear if DOGE will be able to overcome its past propensity for short-term consolidation and steer toward a more gradual ascent this time. ✨ #DOGE quick UPDATE:


Have you ever wondered what the #Dogecoin chart would look like when scaled to the previous cycle?


If the price starts moving toward a new level now, the first stop would likely be the ATH, a zone that coincides with a market cap of approximately $100B.… https://t.co/uuRPgGjcuw pic.twitter.com/IlG0e80ZZ2


— Master Kenobi (@btc_MasterPlan) November 17, 2024


Is It A Surge Or Stagnation?


Two different possibilities are emerging, according to analysts, as DOGE moves closer to these critical zones. According to the first scenario, there may be a low-volatility phase of stasis followed by an explosive breakout. Before a retreat happens, a surge like this might drive DOGE’s price toward the desired $1 level or perhaps higher, aiming for a range of $1.2 to $1.3.


The second scenario suggests a quicker rise fueled by strong momentum, breaking through resistance levels without a prolonged pause. For now, the 43.14% price volatility recorded in the past 30 days serves as a reminder of Dogecoin’s unpredictable nature, even during bullish cycles. DOGE market cap currently at $56.5 billion. Chart: TradingView.com A Bullish Market With Cautionary Notes


The picture painted by market indicators is conflicting but generally positive. Dogecoin has shown resiliency and investor trust by achieving green days on 63% of the previous month.


The Fear & Greed Index, which states a reading of 90, indicates growing enthusiasm. However, CoinCodex has already predicted a possible decline in price by 7.63% by December. Source: CoinCodex


This prognosis emphasizes the need for caution rather than undermining the current bullish mood. While long-term holders should balance the risks of volatility against the possibility of significant rewards, short-term traders may discover opportunities during times of consolidation or declines. Related Reading Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike 1 day ago A Crucial Moment For DOGE


The success of Dogecoin in navigating significant resistance levels and sustaining market interest will determine if it retests its ATH. Investors must be alert despite the euphoria around its development.


As DOGE continues to generate headlines and conjecture in the cryptocurrency world, it will be crucial to strike a balance between the excitement of potential new highs and the realities of market swings.


Featured image from Kurt Pas from Getty Images, chart from TradingView

News Feed

Terra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked Tokenomics
Terra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked Tokenomics Terra founder Do Kwon hinted at a future purchase of $3 billion worth of bitcoin to supply th
Fidelity’s Bitcoin ETF draws $40M in largest single investment from advisers
Ana Paula Pereira6 hours agoFidelity’s Bitcoin ETF draws $40M in largest single investment from advisersFinancial advisers Legacy Wealth Management and United Capital Management of Kansas have each invested $20 million
‘Feels surreal’ — Bitcoin sticks to $68K as market ignores 200K BTC US election pledge
William Suberg11 hours ago‘Feels surreal’ — Bitcoin sticks to $68K as market ignores 200K BTC US election pledgeBTC price gains fail to materialize as Donald Trump and others promise to build a giant Bitcoin strate
Justin Trudeau Slams Pierre Poilievre for Telling People They Can ‘Opt out’ of Inflation by Investing in Cryptocurrency
Justin Trudeau Slams Pierre Poilievre for Telling People They Can "Opt out" of Inflation by Investing in Cryptocurrency Canadian Prime Minister Justin Trudeau has slammed Pierre Po
Square merchants can now convert up to 10% of sales to Bitcoin via Cash App
Tristan Greene3 hours agoSquare merchants can now convert up to 10% of sales to Bitcoin via Cash AppBlock gets 1% of every conversion.1722 Total views34 Total sharesNewsOwn this piece of crypto historyCollect this articl
Runes protocol sees significant decline in activity
Amaka Nwaokocha13 hours agoRunes protocol sees significant decline in activityDespite generating hundreds of thousands of dollars in daily fees, Runes has only surpassed $1 million in total fees twice in the last 12 days
New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business
New FTX CEO Told Members of Congress SBF"s Family "Certainly Received Payments" From the Business According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face s
Savannah Fortis33 minutes agoYouTube releases ‘principles’ for working with music industry on AI techThe streaming platform revealed three key principles it will abide by as it works with major figures in the music i
Turner Wright8 hours agoUK financial watchdog reminds crypto firms of October deadline for marketing complianceCompanies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions
Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000?
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 pu
Solana Meme Coins Rising But Is This Deployer Dumping On Degens?
Este artículo también está disponible en español. Crypto prices are printing higher. Bitcoin, for example, broke above $66,000 before cooling off earlier today. Like the
Sky Mavis co-founder breaks down Ronin’s surge in active users
Ezra Reguerra10 hours agoSky Mavis co-founder breaks down Ronin’s surge in active usersSky Mavis co-founder Jeffrey Zirlin believes that Ronin has a “dedicated and resilient community” that has been built since the