Crypto analysis

Crypto analysis: Dogecoin is exhibiting a positive outlook following a series of stable sessions

February 12, 2024

Dogecoin(DOGE) chart analysis:

Cryptocurrency chart analysis

The current price of Doge coin is around $0.080, which is a bit lower compared to a week ago. The trading volume in the past 24 hours is approximately $337 million. Unfortunately, there has been a downward trend in its value over the last few days.

However, amidst these changes, there are some positive signs in its network activity. Despite the decrease in price, the transaction volume has been increasing in the past week. Additionally, there has been steady progress in the core development and scaling solutions of Doge coin, which shows promising development efforts for the future.

Dogecoin (DOGE) price prediction:

Dogecoin 4 hr. chart analysis

The price of Dogecoin (DOGE) was steady after a big drop on January 3. but recently, it went up by 6.54%. This is important because it broke through a line showing a decrease in price and also passed the $0.0821 level, which was hard to beat before. Both of these things stopped DOGE from going up before.

Now, it's likely that the price of the meme coin will continue to go up. But it won't be easy for Dogecoin. It needs to turn the $0.0846 level into a strong support. If it does, then it can try to reach $0.0911 again. This is halfway between where it dropped from on December 11, 2023, and January 3, 2024.

BTC & ADA chart analysis

This would mean a 10% increase from where it is now, at $0.0824. Also, a tool called IntoTheBlock says that the next big challenge for DOGE is between $0.0844 and $0.1222. Here, about 864,000 people bought 14.56 billion coins at an average price of $0.0931. This matches well with what experts predicted, which makes it seem more likely that the price of the meme coin will keep going up. Those people who bought Dogecoin at a higher price might sell it if the price goes up enough to break even. So, the levels to look out for are between $0.0911 and $0.0931.

But if Dogecoin's price drops below $0.0749, it means the idea that the price will go up is wrong because it will be going down instead. In this case, DOGE might drop by 5% and go down to $0.0713.