{"id":18277,"date":"2024-11-06T09:30:09","date_gmt":"2024-11-06T09:30:09","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18277"},"modified":"2024-11-06T09:30:09","modified_gmt":"2024-11-06T09:30:09","slug":"no-dogecoin-doge-investors-are-currently-at-a-loss-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18277","title":{"rendered":"No Dogecoin (DOGE) Investors Are Currently at a Loss: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Dogecoin (DOGE) briefly overtook Ripple (XRP) in market cap, fueled by Trump\u2019s election lead.
\nAnalysts predict further gains, with some targets as high as $0.40 or even $1, despite overbought signals.<\/p>\n

<\/a><\/span><\/h2>\n

Big Win for DOGE Holders<\/h2>\n

The leading meme coin has been among the top-performing cryptocurrencies lately. Earlier today (November 6), its price <\/span>soared<\/span><\/a> above the psychological level of $0.20 to reach an eight-month high. In the following hours, it slightly retraced and is <\/span>currently<\/span> trading at around $0.19 (per CoinGecko\u2019s data).
\n<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

Its market capitalization briefly exceeded $30 billion, thus flipping Ripple (XRP) to become the seventh-biggest cryptocurrency. Later, though, the figure plunged to $28.5 billion, and DOGE returned to the eighth spot.\u00a0<\/span><\/p>\n

Donald Trump\u2019s lead in the US presidential elections is one apparent factor fueling the meme coin\u2019s rally (and that of the entire cryptocurrency market). The latest data shows that the pro-crypto candidate (according to his promises) is very close to securing an official victory, with his odds of winning <\/span>reaching<\/span><\/a> 99.6% on Polymarket. Trump even declared<\/a> victory, while Kamala Harris has yet to concede.\u00a0<\/span><\/p>\n

Dogecoin\u2019s bull run has been highly beneficial for investors. <\/span>According<\/span><\/a> to IntoTheBlock, there are currently no holders underwater, with 89% sitting on some paper profits and 11% being break even.
\n<\/span><\/p>\n

<\/a>DOGE Holders, Source: IntoTheBlock<\/p>\n

The picture <\/span>looked<\/span><\/a> completely<\/span> different in September 2023, when DOGE was worth around $0.06. Back then, the investments of only 42% of the holders were profitable (on paper).\u00a0<\/span><\/p>\n

Ready for Further Gains?<\/span><\/h2>\n

Numerous analysts believe Dogecoin\u2019s bull run is still at its starting point, predicting a substantial price jump <\/span>in the near future<\/span>. The <\/span>popular<\/span> X user KALEO <\/span>thinks<\/span><\/a> the valuation may explode to $0.40 as early as this week, while CROW set a target of a new ATH of $1:<\/span><\/p>\n

IT\u2019S HAPPENING!<\/p>\n

And we won\u2019t stop at $1, mark my words$DOGE<\/a> pic.twitter.com\/nt8OOau743<\/a><\/p>\n

\u2014 CROW (@TheCrowtrades) November 6, 2024<\/a><\/p>\n

Some important on-chain metrics, though, suggest that DOGE might experience a correction in the short term. <\/span>The Relative Strength Index (which measures the speed and change of price movements)<\/span>, for example,<\/span> has <\/span>climbed<\/span><\/a> into bearish territory of over 70.<\/span><\/p>\n

Such a reading indicates that the asset could be overbought and might <\/span>be poised<\/span> for a pullback. On the contrary, an<\/span> RSI ratio below 30 can <\/span>be interpreted<\/span> as a buying opportunity.<\/span><\/p>\n

The post No Dogecoin (DOGE) Investors Are Currently at a Loss: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Dogecoin (DOGE) briefly overtook Ripple (XRP) in market cap, fueled by Trump\u2019s election lead. Analysts predict further gains, with some targets as high as $0.40 or even $1, despite overbought signals. Big Win for DOGE Holders The leading meme coin has been among the top-performing cryptocurrencies lately. Earlier today (November 6), its price soared […]<\/p>\n","protected":false},"author":0,"featured_media":18278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18277"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18277"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18278"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}