On-Chain Data Reveals Dogecoin Has Broken All Major Resistance – DOGE Price To $0.15?

Share This Post

The price of Dogecoin has sometimes struggled this year, but the meme token has been on such a great run in the past few weeks, mirroring the current optimistic condition of the general cryptocurrency market. And if on-chain data is anything to go by, this current price rally might not be coming to an end anytime soon.

Dogecoin Successfully Clears All Major Resistance – What’s Next?

In a recent post on X, prominent analyst Ali Martinez revealed that the Dogecoin price has successfully cleared all major resistance levels. This latest on-chain revelation is based on IntoTheBlock’s price data, which revolves around the density of investors who bought the DOGE token at certain ranges.

According to the provided data, the $0.095 level seems to be the last significant resistant area for the DOGE price. And since the meme coin has gained some distance over the price range, the $0.095 area has flipped into a “strong support” – thanks to 63,280 addresses buying the cryptocurrency at this level.


The chart above shows how the Dogecoin price levels around the current value look in terms of the density of investors. The size of the dot reflects the number of investors who bought the meme token at each price range.

As displayed in the above graph and highlighted by analyst Ali Martinez, there are no major resistance zones above the current DOGE price. Hence, the value of Dogecoin looks set to continue on an upward trajectory.

The crypto analyst said that if the $0.095 support range continues to hold strong, there is a growing possibility for DOGE to climb as high as $0.14 in the near future. This represents a substantial 35% rally from the meme coin’s current price point.

DOGE Price Overview

As of this writing, Dogecoin is valued at $0.103424, reflecting a 6.7% price increase in the past 24 hours. This level of growth in the last day only underscores the meme token’s positive performance in the past few weeks.

Based on data from CoinGecko, the DOGE price has increased by more than 22% in the past seven days. Meanwhile, the cryptocurrency has registered roughly a massive 35% gain in a single month.

Dogecoin ranks as the tenth-largest cryptocurrency in the sector, with a market cap of approximately $14.6 billion.


Read Entire Article

Related Posts

Solana, Chainlink Among Coins With Overheating Open Interest: Data

Data shows Solana and Chainlink are among the top cryptocurrencies that have observed growth in Open Interest to relatively high levels Solana & Chainlink Have Their Open Interest At Notable

Gaunt photos of FTX founder Sam Bankman-Fried in prison emerge online

The first photos of Sam Bankman-Fried, the convicted founder of the bankrupt FTX exchange, at New York’s Metropolitan Detention Centre, have emerged online from crypto influencer Tiffany Fong

Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000

Global asset management firm, Bernstein has expressed confidence, foreseeing a fairly strong chance of the United States Securities and Exchange Commission (SEC) approving an Ethereum Spot ETF  

Really Now? Bitcoin Will Hit $100,000 This June 2024, Finance Guru Predicts

Financial guru Robert Kiyosaki has ignited the crypto community with his latest price prediction, claiming Bitcoin will hit $100,000 by June 2024 However, experts urge caution, reminding investors of

Nearly 450,000 BTC acquired by short-term holders since December

Quick Take Short-term holders (STHs), defined by Glassnode as investors who’ve held Bitcoin for less than 155 days, have significantly bulked up their holdings since Dec 3, moving from

Deltec Bank Accused of Secretly Extending a $2 Billion Credit Line to Alameda Research

Deltec Bank and Trust Ltd, based in The Bahamas, stands accused of covertly extending a $2 billion line of credit to Alameda Research A lawsuit, filed by those who claim to be victims of Sam
- Advertisement -spot_img