Dogecoin ($DOGE) has retained the top position in the meme coin chart with a market cap of over $23 billion. Overall, it ranks 8th across the global crypto list and is on the target of SHIB to be dethroned in the near future. DOGE was last seen exchanging hands at $0.1648, up by 8.53% in the last 24 hours.
This marks a significant recovery during a time when BTC and ETH are moving upward, coming out of the shell wherein they were moving within restricted ranges for consolidation.
The current listed value of DOGE further reflects a surge of 11.4% in the last 7 days and 1.9% in the last 30 days. The 24-hour trading volume is significantly up by 154.29% at the time of writing this article. Suffice it to assume that the next best resistance for a dog-themed meme coin is at $0.17 and then $0.19. It could surpass the mark of $0.30 by the end of this year, that is, 2024.
However, that depends on several factors, including how two flagship cryptos move – Bitcoin and Ethereum. BTC is teased to be traded at $84,000 in the next couple of months. ETH, on the other hand, may see price movements influenced by ongoing developments and potential regulatory updates around Ethereum-related investment products.
Losses are not in sight at the moment, but there is speculation that the next 30 days could be bearish for DOGE.
It could swing around $0.16 in the next 5 days and $0.14 in the next 30 days. The volatility is at 5.6%, but there have only been 10 green days out of the last 30 days. The 14-day RSI stands at 57.26, and the 200-day SMA is at $0.114139.
There is major support for the meme coin at $0.144. Any decline beneath that margin could open the door to more drops. Thereby, banking losses are for those who have accumulated the token at a higher cost or for short-term gains. Long-term narrative is not a rare tone in the crypto market. The sentiment prevails across meme coins, especially when there is a revised interest in exploring the market beyond Bitcoin.
That said, the overall sentiment is still bullish around DOGE. Near predictions are bearish but could rebound as time progresses and BTC plus ETH continue with their respective upward trajectories.
As for green trades, the last 24 hours have seen most of the green trades for DOGE. Fluctuations in the last 7 days did introduce a couple of red trades in a follow-up to the previous 30 days. What comes next could potentially be a trend for higher highs, if not lower lows.
