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May 22, 2024
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DOGE Price Analysis: Will DOGE Prices Reach $0.10 Before The Potential Integration With X?

The post DOGE Price Analysis: Will DOGE Prices Reach $0.10 Before The Potential Integration With X? appeared first on Coinpedia Fintech News

With Twitter becoming the X, DOGE prices shoot up by 10% on the news of a potential integration as a payment mechanism. However, the meme coin prices are quick to surrender and form a bearish 4% fall candle. 

Currently trading at $0.0786, Dogecoin prices are likely to retest the previous breakout levels.

The hype growing around the DOGE finally getting official recognition and a real-life use rather than a meme coin. The growing number of transactions moving around huge amounts of DOGE is a signal of this. In the last 24 hours, around 1800 transactions have moved 33.39 billion DOGE. 

The 10% jump in the DOGE coin signifies a rounding bottom breakout with a neckline at $0.074. Additionally, the high trading volume and improving sentiments fueled the breakout phase. 

Considering the reversal starting from 15th June, the DOGE prices are up by 31.06%. As per the Fibonacci retracement, the breakout rally perfectly aligns and creates a high close to the 1.618 Fibonacci level at $0.083.

The bearish candle in action can help plunge the DOGE coin to $0.074 to retest the pattern breakout. Meanwhile, an early reversal can lead to another spike above $0.083.

The next potential spike in the DOGE coin price can reach the 2.618 Fibonacci level at $0.0972. Traders can find the $0.083 breakout as an entry spot to ride the next rally.

Therefore, there is a high possibility that we can see the dogecoin price, reaching the $0.10 mark before the end of 2023.

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