{"id":642242,"date":"2024-09-16T21:00:01","date_gmt":"2024-09-16T21:00:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=642242"},"modified":"2024-09-16T10:12:12","modified_gmt":"2024-09-16T10:12:12","slug":"dogecoin-0-1-falling-wedge-0-2","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-0-1-falling-wedge-0-2\/","title":{"rendered":"Dogecoin At $0.1 Is A \u2018Gift\u2019, Falling Wedge Breaking Bullish To Send Price To $0.2"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Dogecoin (DOGE) is <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/doge\/dogecoin-doge-trims-gains-0-10\/\"><span style=\"font-weight: 400\">currently trading at $0.102<\/span><\/a><span style=\"font-weight: 400\">, but the popular meme-based cryptocurrency appears to be positioning itself for a <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-bulls-target-0-1293-after-breakout\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">potential move to the upside<\/span><\/a><span style=\"font-weight: 400\">. Over the past five months, Dogecoin has largely traded in a downtrend with the formation of lower highs and lower lows. This consistent downward pressure has led to the development of a classic price pattern known as a falling wedge.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a technical analyst who has been closely tracking Dogecoin\u2019s movements, the daily chart suggests that the falling wedge is nearing its conclusion, and a bullish breakout is now in sight. If Dogecoin successfully breaks out of this wedge, the analyst projects a price target of $0.20.<\/span><\/p>\n<h2>Dogecoin Falling Wedge Breaking Bullish<\/h2>\n<p><span style=\"font-weight: 400\">A falling wedge is a narrowing price channel that typically signals a reversal from bearish to bullish momentum. The key feature of this pattern is that it shows a gradual reduction in the downward price movement as buyers start to step in, causing price consolidation. In the case of Dogecoin, this pattern was highlighted by a technical analyst known pseudonymously as Crypto Yapper on social media platform X.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/solana\/warning-solana-crash-42-to-80\/\">Analyst Sounds Warning For Bullish Investors, Says Solana Will Crash 42% To $80<\/a><\/div>\n<p><span style=\"font-weight: 400\">According to the DOGE\/USDT chart on the 1D candlestick, DOGE has largely been on a downtrend since it peaked at its yearly high of $0.22 in March. At one point, DOGE fell by 63% from $0.22 to a low of $0.08 on August 5. Following this low point in early August, Dogecoin has managed to <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-whales-400-million\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">stage a modest recovery<\/span><\/a><span style=\"font-weight: 400\">, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$DOGE<\/a> almost Breaking Out !<\/p>\n<p>This Falling Wedge on the <a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#DOGE<\/a> daily chart is close to breaking Bullish<\/p>\n<p>The break out target for <a href=\"https:\/\/twitter.com\/hashtag\/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Dogecoin<\/a> will be $0.20 <a href=\"https:\/\/t.co\/MoAQe1Xo6r\" rel=\"nofollow\">pic.twitter.com\/MoAQe1Xo6r<\/a><\/p>\n<p>\u2014 Crypto Yapper (@CryptoYapper) <a href=\"https:\/\/twitter.com\/CryptoYapper\/status\/72962904?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 14, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Since bouncing off $0.088 on September 6, DOGE has traveled upwards to retest the upper trendline of the falling wedge at around $0.108. As noted by Crypto Yapper, a successful break to the upside would see DOGE doubling its current value and reaching $0.20. <\/span><\/p>\n<p><span style=\"font-weight: 400\">While this price target might seem modest at first glance, especially considering that Dogecoin had already surpassed $0.20 earlier in the year, it represents the cryptocurrency\u2019s recovery from its prolonged downtrend. This, in turn, could lead to a total change into bullish sentiment, with DOGE eventually breaking above $0.22.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/analyst-says-bitcoin-will-reach-68000-by-end-of-september-90000-in-december\/\">Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December<\/a><\/div>\n<p><a href=\"https:\/\/x.com\/CryptoHotep\/status\/10841570\" rel=\"nofollow\"><span style=\"font-weight: 400\">Echoing the falling wedge <\/span><\/a><span style=\"font-weight: 400\">pattern analysis is another DOGE trader (CryptoHotep). According to him, DOGE at $0.10 is a gift. His post featured a similar DOGE\/USD price chart featuring the falling wedge pattern from $0.22, albeit with the upper trendline only. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn&#8217;t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/wCzsYxNj\/\" alt=\"Dogecoin price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">DOGE price still holding $0.1 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE) is currently trading at $0.102, but the popular meme-based cryptocurrency appears to be positioning itself for a potential move to the upside. Over the past five months, Dogecoin has largely traded in a downtrend with the formation of lower highs and lower lows. This consistent downward pressure has led to the development of a classic price pattern known as a falling wedge. According to a technical analyst who has been closely tracking Dogecoin\u2019s movements, the daily chart suggests that the falling wedge is nearing its conclusion, and a bullish breakout is now in sight. If Dogecoin successfully breaks out of this wedge, the analyst projects a price target of $0.20. Dogecoin Falling Wedge Breaking Bullish A falling wedge is a narrowing price channel that typically signals a reversal from bearish to bullish momentum. The key feature of this pattern is that it shows a gradual reduction in the downward price movement as buyers start to step in, causing price consolidation. In the case of Dogecoin, this pattern was highlighted by a technical analyst known pseudonymously as Crypto Yapper on social media platform X.\u00a0 Related Reading: Analyst Sounds Warning For Bullish Investors, Says Solana Will Crash 42% To $80 According to the DOGE\/USDT chart on the 1D candlestick, DOGE has largely been on a downtrend since it peaked at its yearly high of $0.22 in March. At one point, DOGE fell by 63% from $0.22 to a low of $0.08 on August 5. Following this low point in early August, Dogecoin has managed to stage a modest recovery, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern. $DOGE almost Breaking Out ! This Falling Wedge on the #DOGE daily chart is close to breaking Bullish The break out target for #Dogecoin will be $0.20 pic.twitter.com\/MoAQe1Xo6r \u2014 Crypto Yapper (@CryptoYapper) September 14, 2024 Since bouncing off $0.088 on September 6, DOGE has traveled upwards to retest the upper trendline of the falling wedge at around $0.108. As noted by Crypto Yapper, a successful break to the upside would see DOGE doubling its current value and reaching $0.20. While this price target might seem modest at first glance, especially considering that Dogecoin had already surpassed $0.20 earlier in the year, it represents the cryptocurrency\u2019s recovery from its prolonged downtrend. This, in turn, could lead to a total change into bullish sentiment, with DOGE eventually breaking above $0.22. Related Reading: Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December Echoing the falling wedge pattern analysis is another DOGE trader (CryptoHotep). According to him, DOGE at $0.10 is a gift. His post featured a similar DOGE\/USD price chart featuring the falling wedge pattern from $0.22, albeit with the upper trendline only. This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn&#8217;t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":642256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[167,6664,26263,14690,1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-642242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\n<title>Dogecoin At $0.1 Is A \u2018Gift\u2019, Falling Wedge Breaking Bullish To 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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