{"id":7195,"date":"2024-09-16T21:00:01","date_gmt":"2024-09-16T21:00:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7195"},"modified":"2024-09-16T21:00:01","modified_gmt":"2024-09-16T21:00:01","slug":"dogecoin-at-0-1-is-a-gift-falling-wedge-breaking-bullish-to-send-price-to-0-2","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7195","title":{"rendered":"Dogecoin At $0.1 Is A \u2018Gift\u2019, Falling Wedge Breaking Bullish To Send Price To $0.2"},"content":{"rendered":"

Dogecoin (DOGE) is currently trading at $0.102<\/a>, but the popular meme-based cryptocurrency appears to be positioning itself for a potential move to the upside<\/a>. Over the past five months, Dogecoin has largely traded in a downtrend with the formation of lower highs and lower lows. This consistent downward pressure has led to the development of a classic price pattern known as a falling wedge.<\/p>\n

According to a technical analyst who has been closely tracking Dogecoin\u2019s movements, the daily chart suggests that the falling wedge is nearing its conclusion, and a bullish breakout is now in sight. If Dogecoin successfully breaks out of this wedge, the analyst projects a price target of $0.20.<\/p>\n

Dogecoin Falling Wedge Breaking Bullish<\/h2>\n

A falling wedge is a narrowing price channel that typically signals a reversal from bearish to bullish momentum. The key feature of this pattern is that it shows a gradual reduction in the downward price movement as buyers start to step in, causing price consolidation. In the case of Dogecoin, this pattern was highlighted by a technical analyst known pseudonymously as Crypto Yapper on social media platform X.\u00a0<\/p>\n

According to the DOGE\/USDT chart on the 1D candlestick, DOGE has largely been on a downtrend since it peaked at its yearly high of $0.22 in March. At one point, DOGE fell by 63% from $0.22 to a low of $0.08 on August 5. Following this low point in early August, Dogecoin has managed to stage a modest recovery<\/a>, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern.<\/p>\n

$DOGE<\/a> almost Breaking Out !<\/p>\n

This Falling Wedge on the #DOGE<\/a> daily chart is close to breaking Bullish<\/p>\n

The break out target for #Dogecoin<\/a> will be $0.20 pic.twitter.com\/MoAQe1Xo6r<\/a><\/p>\n

\u2014 Crypto Yapper (@CryptoYapper) September 14, 2024<\/a><\/p>\n

Since bouncing off $0.088 on September 6, DOGE has traveled upwards to retest the upper trendline of the falling wedge at around $0.108. As noted by Crypto Yapper, a successful break to the upside would see DOGE doubling its current value and reaching $0.20. <\/p>\n

While this price target might seem modest at first glance, especially considering that Dogecoin had already surpassed $0.20 earlier in the year, it represents the cryptocurrency\u2019s recovery from its prolonged downtrend. This, in turn, could lead to a total change into bullish sentiment, with DOGE eventually breaking above $0.22.<\/p>\n

Echoing the falling wedge <\/a>pattern analysis is another DOGE trader (CryptoHotep). According to him, DOGE at $0.10 is a gift. His post featured a similar DOGE\/USD price chart featuring the falling wedge pattern from $0.22, albeit with the upper trendline only. <\/p>\n

This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn\u2019t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) is currently trading at $0.102, but the popular meme-based cryptocurrency appears to be positioning itself for a potential move to the upside. Over the past five months, Dogecoin has largely traded in a downtrend with the formation of lower highs and lower lows. This consistent downward pressure has led to the development of […]<\/p>\n","protected":false},"author":0,"featured_media":7196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7195","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\/7195"}],"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=7195"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7196"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}