Dogecoin Shows Signs Of Vigor – DOGE Target Of $0.075 Within Range

Christian Encila

Last Updated: July 20, 2022 10:55 am

3 mins read

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Dogecoin is now showing signs of renewed vitality as the crypto market also starts to flex some muscle.

Meme coins are now getting more attention as the major crypto continue to pick up and soar. Dogecoin (DOGE) is seen to be moderately volatile trading along the range of $0.0655 to $0.06867 overnight.

The crypto space is blinking green as Bitcoin ushers with a gain of 0.82 percent, Ethereum spikes at over 4%, and Solana joins the party as the biggest gainers with 10%.

DOGE trading volume has spiked by 21.22 percent or a total of $528.5 million. The coin now ranks in the 10th place with a total market cap of $9 billion.

DOGE has failed to break higher for the past couple of hours which is indicative of further retracement or retesting.

Dogecoin Reaches $0.069 Resistance Level

On the brighter side, Dogecoin is seen to move forward from a previous low of $0.058 to hit the $0.069 major resistance level.

With that in mind, the losses that have been incurred in the early days of July has already been retraced and a reversal is set to happen anytime soon. Can DOGE now easily breach past the $0.070 to $0.075?

But, for now, there is no lower low set, so rallying may be expected once a new higher local low is set.

As of now, the Dogecoin price may have difficulty to break higher than the $0.069 mark because it still offers a forceful resistance.

On the other hand, DOGE/USD may slide down below $0.065 which is seen as the closest support where the next probable higher low can be set over the next couple of days.

DOGE total market cap at $9.83 billion on the daily chart | Source: TradingView.com

Once that retest is done, another attempt to rally above $0.069 is expected – and perhaps cruise past the $0.070 barrier. Now, if DOGE happens to drop below the resistance mark of $0.0625, further downside may be reached in the next few days.

DOGE/USD is seen to have a bearish movement today due to the slight retrace that shifted into a consolidation. With that in mind, Dogecoin will not likely go higher and will have a tendency to retrace further at the end of the week.

DOGE May Easily Breach $0.075

Meanwhile, Dogecoin transactions surged with over 70,000 numbers changing hands in the last 24 hours. The sudden spike in transactions may be the result of whales staking more DOGE.

More so, the increased DOGE transactions can also be indicative of a massive selling pressure as whales may strategically move their funds from cold wallets to crypto exchange addresses.

Dogecoin has consistently been doing great. As of this writing, DOGE is currently trading at $0.074, up 25% in the last seven days.

Featured image from Train Magazine, chart from TradingView.com

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.

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.

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.