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Dogecoin Gearing To Bounce Back – Can Doge Succeed?
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Gearing To Bounce Back Against Bitcoin – Does Doge Have The Energy?

Samuel Edyme
Samuel Edyme
2 years ago
3 mins read
Dogecoin

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A popular crypto trader, Bluntz, forecasted a significant price rally for Dogecoin against Bitcoin today. Bluntz tweeted to his followers that the DOGE/BTC trading pair is “gearing for a revenge pump for probably 100% or more.”

Based on his chart analysis, Bluntz identified that Doge had formed a bullish pattern that may surprise the crypto community. Bluntz seems convinced that Doge will continue to surge its price, thus cautioning that investors would be careless for missing out on this potential opportunity. 

Dogecoin DOGE DOGEUSDT
DOGE poised for further profits against Bitcoin? Source: Bluntz via Twitter

Bluntz’s sentiment appears to be backed by other crypto market analysts who are also confident that Doge is destined for massive growth. 

Bluntz also disclosed that the Dogecoin/USD trading pair has finally broken out of a consolidation channel, indicating that Doge is “loading and set to lead the altcoin season.” He said it is just a matter before the meme crypto witnesses a huge price uptick. 

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Does Dogecoin Have More Potential Than Bitcoin?

For investors seeking to invest in cryptocurrencies, Dogecoin is one of the major altcoins that can prove to be a better investment choice.

Dogecoin is currently the ninth-largest cryptocurrency. However, Dogecoin seems a good option for investors willing to take on a little risk.

Doge’s price appears relatively much less volatile than BTC’s price. As a result, its price’s relative stability makes many investors consider it a more suitable currency for daily transactions than BTC.

Despite some of the selling points that Dogecoin has over Bitcoin, BTC still has significant advantages over the Shiba Inu-themed crypto.

BTC’s value is significantly higher than Doge’s. Bitcoin’s all-time high is over $69,000, while Dogecoin is around $0.70. The price difference shows why millions of people invest in Bitcoin because they deem it a reliable long-term value store.

In the public eye, high-net-worth investors are less confident in investing huge amounts of funds in Dogecoin. Instead, institutional investors prefer Bitcoin as their investment choice. In that sense, Doge is likely to lag behind Bitcoin.

Related Reading

Dogecoin Whales Move Large Amounts, Bearish For DOGE?

2 years ago

Doge Price Analysis

At the time of writing, Dogecoin is trading its price at $0.09, up 7.39%, with a trading volume of $1.3 million in the last 24 hours, as per Coinmarketcap.

So far, the Dogecoin trading chart shows ranging vector candles to the upside, indicating that the crypto asset is currently bullish. Furthermore, the movement seems to be targeting a closer higher high, which could result in a further price surge. The buyers appear to be taking control and pushing the price above.  

DOGE price chart on TradingView
DOGE price is moving sideways on the 4-hour chart. Source: DOGE/USDT on TradingView.com

If Doge maintains its bullish trend, then in the next few days, it will likely soar toward the resistance level of $0.1507. But if the coin sees a price correction, it will retreat to $0.07.

Featured image from Unsplash, Chart from TradingView.
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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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