Featured image from Dall-E, charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
An analyst has pointed out how this price level could end up being the next destination of Dogecoin based on a Descending Triangle pattern. Dogecoin Is Moving Inside A Descending Triangle Right Now In a new post on X, analyst Ali Martinez has talked about a pattern that has recently been forming in the price of Dogecoin. The pattern in question is the “Descending Triangle” from technical analysis (TA), which, as its name suggests, looks like a triangle slopped downwards. The pattern involves two lines between which the price of the asset consolidates: an upper one with a negative slope and a lower one parallel to the time axis. The former is likely to provide resistance to the coin, while the latter can be a point of support. Related Reading: Bitcoin Records $75,000 All-Time High: Here\u2019s If BTC Is \u2018Overheated\u2019 Now Like other consolidation patterns in TA, a break out of either of these levels can imply a continuation of the trend in that direction. That is, a surge above the triangle can imply a bullish outcome, while a drop under it may lead to bearish action. There are also other triangle patterns in TA that work similarly to the Descending Triangle, with the most prominent example being the Ascending Triangle, which has only one difference: it points up rather than down. Now, here is the chart shared by the analyst that displays the Descending Triangle that Dogecoin has been moving inside recently: As is visible in the above graph, Dogecoin just recently made a retest of the bottom level of the triangle and successfully found support at it. The memecoin is now on its way up, with a potential retest of the top level to follow. Given the current trajectory of the coin, it might meet the upper line at around $0.198. The coin has already found resistance at the line a few times now, so it’s possible another rejection could take place. Related Reading: Ethereum Volatility Soon? Derivatives Exchanges Receive 82,000 ETH In Deposits In the scenario that a break does happen, however, Dogecoin could end up seeing a notable rise. “Breaking above the $0.198 resistance could spark a 10% move up to $0.220!” notes Martinez. From the current spot price, a run to this $0.220 target would imply growth of more than 15% for the cryptocurrency. It now remains to be seen how DOGE develops in the coming days and if this Descending Triangle pattern would have any effect on its trajectory. DOGE Price Dogecoin enjoyed a sharp rally yesterday as the US presidential elections ended in a win for Donald Trump. At the peak of this surge, the coin approached the $0.220 level, but its price has seen a pullback today as it’s now back under $0.192. Below is a chart that shows how the price of meme coin has developed over the last few days. Featured image from Dall-E, charts from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":652057,"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":[1785,7,88065,93334,89907,79600],"class_list":["post-652053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-dogecoin","tag-dogecoin-bullish","tag-dogecoin-descending-triangle","tag-dogecoin-rally","tag-dogeusdt"],"acf":[],"yoast_head":"\n
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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Descending Triangle Could Hint At Next Destination For DOGE","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-descending-triangle-destination-doge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-descending-triangle-destination-doge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/doge_7ba026.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/doge_7ba026.png?fit=1792%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","dogecoin bullish","dogecoin descending triangle","dogecoin rally","dogeusdt"],"dateCreated":"2024-11-08T10:00:37Z","datePublished":"2024-11-08T10:00:37Z","dateModified":"2024-11-08T10:00:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Descending Triangle Could Hint At Next Destination For DOGE\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-descending-triangle-destination-doge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-descending-triangle-destination-doge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/doge_7ba026.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/doge_7ba026.png?fit=1792%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"dogecoin bullish\",\"dogecoin descending triangle\",\"dogecoin rally\",\"dogeusdt\"],\"dateCreated\":\"2024-11-08T10:00:37Z\",\"datePublished\":\"2024-11-08T10:00:37Z\",\"dateModified\":\"2024-11-08T10:00:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/doge_7ba026.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=652053"}],"version-history":[{"count":5,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652053\/revisions"}],"predecessor-version":[{"id":652104,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652053\/revisions\/652104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/652057"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=652053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=652053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=652053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Dogecoin](\"https:\/\/pbs.twimg.com\/media\/GbxLFjnXgAYXIs5?format=jpg&name=4096x4096\")