{"id":668049,"date":"2024-12-30T09:35:50","date_gmt":"2024-12-30T09:35:50","guid":{"rendered":"https:\/\/uniquehot.com\/?p=668049"},"modified":"2024-12-30T09:32:18","modified_gmt":"2024-12-30T09:32:18","slug":"dogecoin-between-price-discovery-catastrophe","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-between-price-discovery-catastrophe\/","title":{"rendered":"Dogecoin Teeters Between ‘Price Discovery’ And ‘Catastrophe’: What’s Next?"},"content":{"rendered":"

The Dogecoin price is currently down -34% from its December 8 high at $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of \u201cthe better looking\u201d charts at the moment. In a new Broadcast<\/a> on X, he offered an in-depth look at Dogecoin, the broader market environment, and key technical indicators.<\/p>\n

Dogecoin: Price Discovery Or Catastrophe?<\/h2>\n

Despite the current retracement, Kevin believes Dogecoin\u2019s chart \u201clooks really nice at the moment\u201d and appears stronger than many other cryptocurrencies: \u201cThis is a stronger coin compared to a lot of the market. I mean, Doge really does look good here. […] Can it not look good in a week from now? Of course it can, but it looks really good at the moment.\u201d<\/p>\n

However, he emphasized the possibility of short-term pullbacks\u2014something that could bring Dogecoin down to the $.026 region: \u201cIn the short term, could we come back down and test 26 cents? Which I\u2019m gonna throw that out there […] I see no real reason to be uber bearish […] but is it possible that we come back down here? Sure.\u201d<\/p>\n

Related Reading: Dogecoin Price Could Soar To $23 Based On These Bullish Fractals<\/a><\/div>\n

The $0.26 to $0.28 range emerged as the critical juncture for Dogecoin\u2019s near-term outlook: \u201cAs long as we remain above this 28 to 26 cent level […] I see no reason to be super fearful. If we pierce that level […] A loss of $0.26 cents on weekly closes would be catastrophic.\u201d<\/p>\n

Kevin traced this specific target back to November, when he first suggested Dogecoin would revisit the golden pocket near $0.26. According to him, many were skeptical, but that level eventually got hit: \u201cI took a lot of heat for making that call back in early November when we were at 45 cents […] We ended up coming back down and testing that.\u201d<\/p>\n

\"Dogecoin
Dogecoin price analysis, weekly chart | Source: @Kev_Capital_TA<\/figcaption><\/figure>\n

Looking to the upside, Kevin pinpoints a substantial resistance area between $0.30 and $0.35, calling it \u201cbig, big resistance.\u201d Following that, he labels $0.94 to $1.00 as his \u201cnext big zone,\u201d though he cautioned traders against assuming a guaranteed climb.<\/p>\n

For Dogecoin to breach previous all-time highs and truly enter \u201cfull-blown price discovery,\u201d Kevin wants to see a break above the 0.703 and 0.786 Fibonacci retracements\u2014roughly $0.53 and $0.59 cents, respectively: \u201cI don\u2019t see anything holding Dogecoin back from full-blown price discovery […] We want to break 53 cents […] and then the 0.786 at 59 cents. If we\u2019re durably breaking past that 60 cent area, I don\u2019t see anything holding Dogecoin back.\u201d<\/p>\n

Drawing parallels to past market cycles, Kevin highlighted how Dogecoin historically checks in with its \u201cbull market<\/a> support band\u201d and macro support levels before rallying: \u201cWe came back, we tested structure support […] bull market support band in this cycle. This is very similar to [the previous cycle]. You can\u2019t deny the similarities.\u201d<\/p>\n

He described how Dogecoin\u2019s present chart mirrors its cycle patterns \u201calmost insanely,\u201d referring to a breakout followed by a falling wedge, an initial climb, and a retest of macro support: \u201cCrypto has this insane innate ability to follow its cyclical nature of performance […] it\u2019s truly amazing, really.\u201d<\/p>\n

Related Reading: Dogecoin Whales Bought Over 90 Million DOGE In 48H \u2013 Details<\/a><\/div>\n

Despite Dogecoin\u2019s cyclical consistency, Kevin reminded viewers that external market factors and Bitcoin\u2019s performance (which he called \u201cthe leader of the market\u201d) could always derail patterns: \u201cWe obviously need Bitcoin to cooperate<\/a>. We can\u2019t have any crazy situations happen globally.\u201d<\/p>\n

Kevin also examined the DOGE\/BTC pair, noting a macro trend line and a golden pocket test: \u201cWe have this macro trend line […] we broke through that and we came back in. We\u2019re currently at the bull market support band […] We came back and tested the macro golden pocket again.\u201d<\/p>\n

He stressed that if Dogecoin remains above this zone on the DOGE\/BTC chart, it should head higher. A breakdown, however, could spell trouble: \u201cKind of like that 26 cent level […] if we come down and break […] it will coincide with a break of the bull market support band and this macro golden pocket, in which case we can be in some pretty deep s**t.\u201d<\/p>\n

\"DOGE\/BTC
DOGE\/BTC weekly chart | Source: @Kev_Capital_TA<\/figcaption><\/figure>\n

Kevin also delved into macroeconomic and geopolitical factors that could influence Dogecoin and the wider crypto sphere. He posited that the President Donald Trump returning to the White House in January is \u201cvery bullish\u201d if it leads to improved regulations, reduced conflict, and pro-growth policies: \u201cWe have Trump coming in the office in January, meaning we\u2019re going to have a crypto-friendly administration […] If we can get the Ukraine and Russia war ended, that\u2019s going to be bullish for markets […] We can get inflation back down to 2% and then start lowering interest rates faster.\u201d<\/p>\n

When And How High Will DOGE Rise Again?<\/h2>\n

From December dumps to Q1 optimism, Kevin noted how market participants often front-run expectations by about a month. He suggested that if January ends up choppy, February might be the point when markets begin their true climb: \u201cEveryone thought October was going to be bullish. October was not bullish. November was bullish. Now everyone thinks January is going to be bullish […] Maybe February is bullish.\u201d<\/p>\n

When pressed for specific price targets, Kevin pointed to several Fibonacci extensions and the Pi Cycle Top indicator<\/a> on the Dogecoin chart: \u201cIf we break through previous all-time highs, the next resistance zone is going to be $0.94 up to $1.32 […] If we break through $1.32, the next big resistance zone that I\u2019m eyeing is $2.19 up to $2.78.\u201d<\/p>\n

However, he made it clear that any long-term price predictions depend heavily on technical indicators and confirmations. He highlighted multiple monthly indicators\u2014MACD, RSI, Stoch RSI, and the Pi Cycle Top\u2014as potential signals to exit positions: \u201cI don\u2019t care what the price is at that point […] once we get up into that zone, I\u2019m taking profits off the board. If the monthly indicators start flashing, I\u2019m getting out.\u201d<\/p>\n

At press time, DOGE traded at $0.32.<\/p>\n

\"Dogecoin
DOGE price, 1-day chart | Source: DOGEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Dogecoin price is currently down -34% from its December 8 high at $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of \u201cthe better looking\u201d charts at the moment. In a new Broadcast on X, he offered an in-depth look at Dogecoin, the broader market environment, and key technical indicators. Dogecoin: Price Discovery Or Catastrophe? Despite the current retracement, Kevin believes Dogecoin\u2019s chart \u201clooks really nice at the moment\u201d and appears stronger than many other cryptocurrencies: \u201cThis is a stronger coin compared to a lot of the market. I mean, Doge really does look good here. […] Can it not look good in a week from now? Of course it can, but it looks really good at the moment.\u201d However, he emphasized the possibility of short-term pullbacks\u2014something that could bring Dogecoin down to the $.026 region: \u201cIn the short term, could we come back down and test 26 cents? Which I\u2019m gonna throw that out there […] I see no real reason to be uber bearish […] but is it possible that we come back down here? Sure.\u201d Related Reading: Dogecoin Price Could Soar To $23 Based On These Bullish Fractals The $0.26 to $0.28 range emerged as the critical juncture for Dogecoin\u2019s near-term outlook: \u201cAs long as we remain above this 28 to 26 cent level […] I see no reason to be super fearful. If we pierce that level […] A loss of $0.26 cents on weekly closes would be catastrophic.\u201d Kevin traced this specific target back to November, when he first suggested Dogecoin would revisit the golden pocket near $0.26. According to him, many were skeptical, but that level eventually got hit: \u201cI took a lot of heat for making that call back in early November when we were at 45 cents […] We ended up coming back down and testing that.\u201d Looking to the upside, Kevin pinpoints a substantial resistance area between $0.30 and $0.35, calling it \u201cbig, big resistance.\u201d Following that, he labels $0.94 to $1.00 as his \u201cnext big zone,\u201d though he cautioned traders against assuming a guaranteed climb. For Dogecoin to breach previous all-time highs and truly enter \u201cfull-blown price discovery,\u201d Kevin wants to see a break above the 0.703 and 0.786 Fibonacci retracements\u2014roughly $0.53 and $0.59 cents, respectively: \u201cI don\u2019t see anything holding Dogecoin back from full-blown price discovery […] We want to break 53 cents […] and then the 0.786 at 59 cents. If we\u2019re durably breaking past that 60 cent area, I don\u2019t see anything holding Dogecoin back.\u201d Drawing parallels to past market cycles, Kevin highlighted how Dogecoin historically checks in with its \u201cbull market support band\u201d and macro support levels before rallying: \u201cWe came back, we tested structure support […] bull market support band in this cycle. This is very similar to [the previous cycle]. You can\u2019t deny the similarities.\u201d He described how Dogecoin\u2019s present chart mirrors its cycle patterns \u201calmost insanely,\u201d referring to a breakout followed by a falling wedge, an initial climb, and a retest of macro support: \u201cCrypto has this insane innate ability to follow its cyclical nature of performance […] it\u2019s truly amazing, really.\u201d Related Reading: Dogecoin Whales Bought Over 90 Million DOGE In 48H \u2013 Details Despite Dogecoin\u2019s cyclical consistency, Kevin reminded viewers that external market factors and Bitcoin\u2019s performance (which he called \u201cthe leader of the market\u201d) could always derail patterns: \u201cWe obviously need Bitcoin to cooperate. We can\u2019t have any crazy situations happen globally.\u201d Kevin also examined the DOGE\/BTC pair, noting a macro trend line and a golden pocket test: \u201cWe have this macro trend line […] we broke through that and we came back in. We\u2019re currently at the bull market support band […] We came back and tested the macro golden pocket again.\u201d He stressed that if Dogecoin remains above this zone on the DOGE\/BTC chart, it should head higher. A breakdown, however, could spell trouble: \u201cKind of like that 26 cent level […] if we come down and break […] it will coincide with a break of the bull market support band and this macro golden pocket, in which case we can be in some pretty deep s**t.\u201d Kevin also delved into macroeconomic and geopolitical factors that could influence Dogecoin and the wider crypto sphere. He posited that the President Donald Trump returning to the White House in January is \u201cvery bullish\u201d if it leads to improved regulations, reduced conflict, and pro-growth policies: \u201cWe have Trump coming in the office in January, meaning we\u2019re going to have a crypto-friendly administration […] If we can get the Ukraine and Russia war ended, that\u2019s going to be bullish for markets […] We can get inflation back down to 2% and then start lowering interest rates faster.\u201d When And How High Will DOGE Rise Again? From December dumps to Q1 optimism, Kevin noted how market participants often front-run expectations by about a month. He suggested that if January ends up choppy, February might be the point when markets begin their true climb: \u201cEveryone thought October was going to be bullish. October was not bullish. November was bullish. Now everyone thinks January is going to be bullish […] Maybe February is bullish.\u201d When pressed for specific price targets, Kevin pointed to several Fibonacci extensions and the Pi Cycle Top indicator on the Dogecoin chart: \u201cIf we break through previous all-time highs, the next resistance zone is going to be $0.94 up to $1.32 […] If we break through $1.32, the next big resistance zone that I\u2019m eyeing is $2.19 up to $2.78.\u201d However, he made it clear that any long-term price predictions depend heavily on technical indicators and confirmations. He highlighted multiple monthly indicators\u2014MACD, RSI, Stoch RSI, and the Pi Cycle Top\u2014as potential signals to exit positions: \u201cI don\u2019t care what the price is at that point […] once we get up into that zone, I\u2019m taking profits off the board. If the monthly indicators start flashing, I\u2019m getting out.\u201d At press time, DOGE traded at $0.32. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":668052,"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":[1785,89174,85675,7,1803,1804,1805,1809],"class_list":["post-668049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogecoin-price-analysis","tag-dogecoin-technical-analysis"],"acf":[],"yoast_head":"\nDogecoin Teeters Between 'Price Discovery' And 'Catastrophe'<\/title>\n<meta name=\"description\" content=\"The Dogecoin price is currently down -34% from its December 8 high at $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-between-price-discovery-catastrophe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Teeters Between 'Price Discovery' And 'Catastrophe'\" \/>\n<meta property=\"og:description\" content=\"The Dogecoin price is currently down -34% from its December 8 high at $0.4843. 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