Dogecoin $0.144 Blockage: Will DOGE Price Correct
Journalist
- Dogecoin’s popularity has surged during the bull rally.
- The last 24 hours have seen a slight downturn as the memecoin experienced a minor correction.
Recently, Dogecoin [DOGE]
enjoyed an impressive bull run last week, with its price increasing by substantial margins. As a result, interest in the world’s leading memecoin has soared over the past few days.
The lingering question is whether this newfound attention will be sufficient to sustain DOGE’s upward momentum?
Understanding Dogecoin’s recent upswing
According to
CoinMarketCap,
DOGE bulls made significant moves last week, pushing the memecoin’s price up by over 27% across seven days.
This surge resulted in more than 5 million DOGE addresses showing profit—this accounts for over 80% of all DOGE addresses—per data from IntoTheBlock.
A recent tweet from well-known crypto analyst Emperor Osmo shed some light on this phenomenon.
According to his post, Dogecoin topped meme attention rankings. AskFX’s analysis using Santiment data revealed similar trends.
The increase in social volume for Dogecoin caught our attention last week. Furthermore, weighted sentiment generally remained positive throughout most of that time period.
This clearly indicates that investor sentiment around DOGE was largely bullish as expectations mounted regarding potential further price increases.
p >caption-attachment-434896″”> Source: Santiment (19659022)
That said! Despite the surging popularity of this memecoin,
it couldn’t stave off losing some momentum—dropping by over 1% within just 24 hours.
At present, Dogecoin sits at $0.141 with a market cap exceeding $20 billion,
placing it as the eighth-largest cryptocurrency overall.
AskFX aims to delve deeper into assessing its outlook: p >
- Our review reveals that DOGE’s MVRV rate remains elevated which signals bullish intent.
However,
the hesitancy among miners paints another picture:
as they liquidated their holdings during rising prices anticipating a potential trend reversal.” li >- #attachment_434897″”>
Source: Santimenbt (#19659029)
A detailed look at DOGE’s daily charts showed resistance near $0.14428 — possibly associated with mounting selling pressure.
DOGEs market capitalization concerning BTC shows fluctuations reflecting ongoing market dynamics. The Money Flow Index for
Dogecoin swung into an overbought area potentially inciting profit-taking actions from traders—
yet MACD retains underlying bullish characteristics.p >
We believe there’s still opportunity ahead—the memecoins may breach previous resistance levels shortly.
#attachment_434898″”>
Caption: Source: TradingView (19659036) - #attachment_434897″”>
