Dogecoin Price Predictions After a 44% Increase: Is the DOGE Price Getting Ready to Launch Towards $1
Recent DOGE Performance: The price of Dogecoin has increased by 44% over the month, nearing a breakout from a narrow price range between $0.20$ and $0.25. This breakout could propel the price towards $1.
Market Analysis:
Open DOGE futures contracts have risen to $2.7 billion, reflecting increasing interest from traders.
The percentage of traders betting on a price increase on the Binance platform reached 69%.
Technical Analysis:
The price is moving within a descending channel and may break out upwards.
Momentum indicators (MA-50 > MA-200 and MACD and RSI at 53) support positive expectations.
Surpassing the level of $0.25$ is an important signal to continue rising towards $0.45$ and later $1, especially if coupled with catalysts such as approval for a spot trading ETF for Dogecoin.
Additional Note: The article also highlights the SUBBD project, a new currency aimed at restructuring the digital content sector using artificial intelligence, which has successfully raised $470,000$ so far.
Cryptonews
