The crypto market is currently doing very well. Bitcoin has finally managed to reach $45K, while ethereum is at $3100. This uptrend has increased the price of other cryptocurrencies such as dogecoin, which have mimicked this trend and are on a steady rise.
Dogecoin is trading at $0.27 at the time of writing after a 27.7% gain in 24 hours.
DOGE Price Analysis
DOGE is among the best performing altcoins currently after double-digit gains. DOGE is currently headed towards breaking past the $0.30 critical resistance level. This level will be broken out if DOGE continues receiving support from the broader crypto market. In this case, we could see dogecoin rallying towards the $0.45 highs created in June.
Market support is currently high, which means that the chances of a continued uptrend are still higher. Besides, most market signals indicate strong buys, meaning that dogecoin will also benefit from buying support.
On the other hand, the uptrend could fail, in which case, dogecoin will retreat to lower levels of $0.21. DOGE has for a long time struggled to break past this resistance level. Given that dogecoin’s supply is always increasing, a lack of market support could push DOGE back to these low levels. If there are strong market bears, we could see dogecoin heading towards lows of $0.19.
The current doge upswing has happened despite the lack of Elon Musk’s support. The former doge father removed doge eyes from his Twitter profile, which signalled he is no longer a strong enthusiast as he formerly was. Whilst the action caused speculations of a DOGE dip, the coin has instead made a remarkable uptrend.
The self-proclaimed dogecoin millionaire, Glauber Contessoto, has also tweeted that he will be acquiring more dogecoin during the recent rally. Contessoto made headlines in June after failing to sell dogecoin despite massive losses. He has since become a major doge supporter and influencer. He also painted a clearer picture of the strong support doge has from its community.
Where to Buy DOGE
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