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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Dogecoin Price Could Climb To $0.209 — Here’s The Level To Watch

Opeyemi Sule
Opeyemi Sule
10 months ago
2 mins read
Dogecoin

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The crypto market saw one of its most positive weeks in the last seven days, and Dogecoin was one of the major beneficiaries of this momentum shift. According to a popular crypto pundit, the meme coin appears not to be done yet, as it readies itself for another move to the upside.

Here’s Why $0.169 Could Be Pivotal To DOGE’s Future

In a new post on X, prominent crypto analyst Ali Martinez has put forward an exciting outlook for the price of Dogecoin over the next couple of days. According to the market expert, the largest meme coin looks primed to cross the $0.2 landmark as the month of November drags on.

This bullish projection is based on the formation of a bull flag pattern on the Dogecoin four-hour chart. The bull flag is a technical analysis pattern characterized by a period of steady upward movement (the flagpole) followed by a short period of price consolidation or slight downward movement (the flag).

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Typically, the bull flag is an excellent upward continuation pattern that could suggest the persistence of a positive run. The trick is to wait for the breakout of the flag (the price consolidation) before confirming the continuation of the upward trend. This breakout from the flag often results in a move higher, usually measuring the length of the prior flag pole.

Dogecoin
Source: Ali_charts/X

According to Martinez, this pattern appears to be playing out on the Dogecoin four-hour chart, with the trigger point lying around the $0.169 mark. The analyst noted that there is a major resistance around $0.168 and a successful close above this region could see the DOGE price run up towards its 2024 high.

Using the length of the first flagpole, the price target for Dogecoin is placed at around $0.209, which would represent a 29% rally from the current price point. While a move to $0.209 would reflect a major leap in the meme coin’s price trajectory, DOGE would still be about 250% adrift of its all-time high price of $0.7316.

Dogecoin Price At A Glance

As of this writing, the price of Dogecoin stands at around $0.1603, reflecting a mere 1.1% in the past day. While the meme coin seems to have slowed down in the last 24 hours, its weekly performance still places it amongst the best-performing assets in recent weeks. According to data from CoinGecko, the DOGE price is up by nearly 20% in the last seven days.

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The price of Dogecoin suffers steep correction on the daily timeframe | Source: DOGEUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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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

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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