Dogecoin (DOGE) Price Struggles Below $0.1, Will the Market Remain Positive Till the End of December?
Since the start of this week, the crypto market hasn't been doing great. Dogecoin, the popular meme coin, is also struggling to stay below $0.1. Unfortunately, this recent Doge's poor performance has affected other meme coins like Shiba Inu and PEPE.
But here's something interesting for investors. The crypto market is still bubbling with the anticipation of the upcoming Bitcoin halving that could potentially trigger the next bull run.
So, will Dogecoin continue to stay below $0.1 until the end of this year, or will it rebound? That's the big question floating around the community.
Find out more below as we trace DOGE price movements and examine the technical indicators on the DOGE chart.
Dogecoin Price Action: DOGE Might Lose More Value as the Market Keeps Correcting Itself.Saying that DOGE hasn't been doing so well lately is an understatement. In the past week, it lost about 10% of its value. Today, December 13, at 06:21 EST, if you check the latest updates, Dogecoin is priced at $0.0927. And in the past day alone, it dropped by 4%.
But here's something interesting. Over the last month, Dogecoin has actually been on the upswing. It has gained more than 18%. So, while it has been rough recently, Dogecoin has had some positive moments in the bigger picture.
Even as the crypto market is not performing well, there's still hope for the Dogecoin community.
The daily chart displays more insights on the next potential direction of DOGE/USDT.
Dogecoin Technical Analysis:
Dogecoin's bumpy ride started on December 10. After the price touched a ceiling of $0.10, it changed direction. According to TradingView, now it's on a downward journey, approaching a bullish trendline.
Note that if it reaches this trendline, we might see the price bounce back. This will give investors huge profits.
Supporting this positive sentiment are the SMA indicators represented by the yellow 50-day and red 200-day lines. Also, the Relative Strength Index (RSI) sits comfortably above 50.
This shows that the present pressure is stable. But keep an eye on the robust support at $0.0561, where a lot of actions will happen.
First, for the bears to take full control, they'd need to break both the bullish trendline and SMA lines. And breaking this will require a lot of selling power. This is good news for Dogecoin supporters. It suggests that there's still hope for the bulls to keep momentum going.
In all, if the buyers keep the trendline and SMA strong, we might just see Dogecoin make a comeback. But remember that the crypto movement is sometimes funny. So, predicting the next move of any coin is very difficult.
Factors That Could Support Potential Upward Bounce: Big Dogecoin Investors Accumulate More
Dogecoin whales recently made a surprising move. They just loaded up a whopping 1.32 billion DOGE in the last 24 hours. That is a huge 77.7% climb from the previous day. According to IntoTheBlock, this adds up to a cool $126.72 million in the bag of these big holders.
Understand that these statistics are based on wallets with at least 0.1% of all Dogecoin. This highlights how much influence these big players have on the market. Normally, when a bunch of coins goes into these big wallets, some also go out.
But here's something nice: the amount going out of this wallet is not that much. It's just 354.85 million tokens.
Know that this is three times less than what came in at the same time. According to IntoTheBlock, the amount that came stands at 967.7 million DOGE tokens.
How will this Affect the Price of Dogecoin?The surge in Dogecoin holdings by major players suggests strong confidence. Even though there are some outflows from these wallets, they are not compared to the inflow. The stability in holdings could indicate a positive outlook on Dogecoin's value.
If this trend continues this way, it might contribute to increased demand. As a result, the price will potentially increase as well. But while the wait for a rebound continues, investors could diversify a little to the latest crypto project still on presale.
Dogecoin Alternative to Consider - TG.CasinoThe online gambling space is growing very fast. Some of these companies, like RollBit, are already into crypto. Even Stakes, which joined recently, is making billions. They are showing how fast GambleFi is taking off.
Here comes TG.Casino, a new project making waves with quick token sales.
People are curious about its cool features. As such, it is already attracting more investors.The project has been able to raise more than $3.9 million from this presale, and the main target is $5 million.
In all, TG.Casino makes gaming and betting sound and looks easy.
TG.Casino - Set to take the Crypto Market by Force
TG.Casino is a new online casino and betting spot. The good thing about this project is that users can access it through Telegram. Users can play games and bet on spots without giving away their info.
This makes it easy for anyone to register without the stress of KYC verifications.
Now, there is something interesting about this project. If a user uses a $TGC token to bet and loses, they get 25% cash back. That's a really sweet feature and one of a kind.
Plus, this token is the golden ticket to some exciting games on the platform. Adding to this, users can earn without even trading it on exchange. You just have to stake it and enjoy 177% APY.
Looking at how this presale is going, once the token comes live, it could turn 10x your investment. Now, to grab this coin, use some amounts of ETH, BNB, or USDT and buy at the current price of $0.185.
It's best you act fast as after this stage, the price will go up. Visit the official site to learn more about this project.
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