Dogecoin (DOGE) Breaches 8-Month Key Resistance Level. Is $0.10 the Next Target?

Dogecoin is on the news again as it breaks a crucial 700-day resistance level. Based on its moves, everyone is wondering whether $0.10 could be the next bus stop for DOGE.

This growth has attracted more investors and traders. This is evident in the increased trading volume.

However, some investors are not waiting for the coin to reach the moon before taking out profits. This could potentially bring down the price. But, considering the current bullish sentiment, it will be hard for the price to drop below the $0.08 level.

Nonetheless, this analysis will assist in predicting the next possible target of Dogecoin.

Dogecoin's Recent Price Movement

Since Dogecoin ($DOGE) hit $0.08 in July this year, the coin has been on a downward movement. The daily chart shows that the coin dropped to a low of $0.056 in October.This implies that the coin lost about 30% of its value.

However, as the end of October neared, the market started retracing. Impressively, on October 25, DOGE increased significantly to $0.07.

But the momentum wasn't strong enough to break the key resistance at $0.08. Thus, the price dropped slightly to $0.066 by October 30. As always, with the crypto market, the price drop didn't last long.

Presently, DOGE is trading above this resistance. Moreover, it has formed a bullish trend, and that is good for business.

CoinMarketCap data shows that in the last seven and 30 days, Dogecoin ($DOGE) is gaining significantly. It's up by about 14% and 25% respectively. But the data still shows that over the past 24 hours, the bears have been trying to take control.

The coin is down slightly by almost 1%. Ultimately, the price of Dogecoin has been growing these past few days. And if the buyers could sustain this rally, it could reach $0.10.

Dogecoin Price Analysis: DOGE Breaks Bearish Trend, Is $0.10 Possible?

According to cryptocurrency analyst and trader Captain Faibik, Dogecoin (DOGE) train has already left the Station."He also added a chart that shows that Dogeocin's break out of a descending triangle. This is usually considered a good sign for any assets.

Captain Faibik triggered bullish sentiment in the community as he said, An epic pump is coming."Meanwhile, the daily chart patterns and technical indicators also align with Faibik's post.

DOGE/USDT daily chart shows that the coin is gaining as a result of massive bullish dominance. Presently, DOGE is trading on an upward trendline tagged as a bullish trend."

This pattern has got everyone feeling optimistic. Moreover, it is the support that will prevent prices from going down. Adding to the positive momentum are the Simple Moving Average (SMA) Indicators positioned above the market price. This signals a bullish sentiment that's hard to ignore.

The positive indications don't stop at the SMAs. The stochastic RSI is sitting at 80. This further supports the bullish momentum in the market. Also, it's a confirmation of Dogecoin's bullish pressure, giving the green light to buyers.

Now, if the momentum is sustained, the potential checkpoint for DOGE/USDT could be $0.10.

This is a psychological milestone. A break above this level could further validate the coin's upward trajectory. In all, Dogecoin (DOGE) is on a journey toward greater gains. However, there's a factor that could possibly support the bullish rally.

NTIA Gov Approve DOGE-1 X-Band: DOGE to the Moon Finally

Dogecoin is preparing to head to the moon after Elon Musk's SpaceX project gets approval.On Nov 28, the project was approved by the National Telecommunications and Information Administration (NTIAgov). This means that a real physical Dogecoin (DOGE) is about to make a nice trip to the moon.

The National Telecommunications and Information Administration (@NTIAgov), a Department of Commerce (@CommerceGov) agency, approved DOGE-1 X-Band (0083-EX-CN-2022 on https://t.co/b6iEAYdTPV)

We have yet to get the FCC license grant which will address X-Band and S-Band $XI pic.twitter.com/YSJoyLclQk

- SMUL RID (e/acc) (@SamuelReidGEC) November 28, 2023

Remember, this movement was first shared by the self-proclaimed Doge Father, Elon Musk, in 2021. And now, it's finally happening. Since then, this mission has been delayed without any reason.

Notable, according to sources, the movement is projected to take place on December 23 by Astorbotic.

Such an event is anticipated to impact the price of Dogecoin. Potentially, it could create a buzz. More interest and excitement often mean more people want to buy Dogecoin.

As always, this will potentially drive its price to the peak. As Dogecoin is performing well, investors can also eye this new project called Bitcoin ETF.

Dogecoin Alternative: New Presale Raises Over 2.5$ Million - Next Crypto to Explode

Since BTC started making waves, BTC ETF has been attracting more investors. This is because it's connected to the forthcoming Bitcoin ETF. Moreover, investors believe this project will yield good returns the moment the SEC gives Bitcoin ETF the green light.

Meanwhile, know that this project is currently on presale. And the developers have been able to raise more than $2.5 million. According to the site, this current presale stage will end in a few hours.

It implies that investors won't be able to buy the token at the current price of $0.0062 after the stage ends.

Bitcoin ETF Token: Your Ticket to the Bitcoin ETF Buzz

>>>Visit Bitcoin ETF Token Presale

The Bitcoin ETF Token is like a golden ticket for folks looking to enter the spot BTC ETF buzz. The project introduced a cool trick to make things move smoothly. As the spot Bitcoin ETF reaches any milestone, a portion of the BTCETF token will be burnt.

This scarcity game could push prices up. Also, the project has a tax mechanism where each transaction will be taxed at 5%. But after each spot Bitcoin ETF milestone, this tax will be dropped to 1%.

In addition, only 40% of the total supply is allocated to this presale. That's about 840 million tokens for investors to share.If you're ready to grab this sweet opportunity, you can buy the token directly from their official website.

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