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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Dogecoin Hits Critical Resistance: Will It Surge Past $0.40 or Face a Price Dip?

Samuel Edyme
Samuel Edyme
5 months ago
3 mins read
Dogecoin Hits Critical Resistance: Will It Surge Past $0.40 or Face a Price Dip?

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Este artículo también está disponible en español.

Despite Dogecoin (DOGE) still being 45% below its all-time high of $0.7316, achieved in 2021, DOGE has experienced a notable year-to-date gain of over 400%.

When writing, the memecoin leader trades at $0.404, up 5.6% in the past 24 hours. Analysts suggest this price marks a critical juncture that could significantly influence Dogecoin’s trajectory in the coming days.

Related Reading

Dogecoin (DOGE) Gearing Up

Dogecoin (DOGE) Gearing Up: Can It Overcome Resistance and Climb?

5 months ago

Dogecoin Hit Key Resistance Point

The recent rally has garnered significant attention from analysts. Renowned crypto analyst Ali recently shared his technical cryptocurrency analysis via his X account.

In the post, the analyst marked out a descending channel on DOGE’s price chart. According to Ali, Dogecoin is currently testing a critical resistance level. He stated that a “sustained” break above the $0.40 price mark could increase the price to $0.43 levels.

Dogecoin (DOGE) price chart.
Dogecoin (DOGE) price chart. | Source: Ali on X

However, should DOGE fail to breach the $0.40 level, the asset is prone to face another notable dip that would drop its price to $0.36 or even $0.34.

#Dogecoin $DOGE is at a very critical resistance point. A sustained break above $0.40 will send it to $0.43, but failing to clear the $0.40 resistance will trigger another dip to $0.36 or even $0.34! pic.twitter.com/fTqpftq3tS

— Ali (@ali_charts) November 27, 2024

Key Developments Strengthen DOGE’s Bullish Position

Beyond its price movements, Dogecoin has recently benefited from several positive developments that have reinforced investor confidence.

One notable instance is the establishment of a new government agency named the Department of Government Efficiency (DOGE) in the United States. This acronym is the same as the ticker for Dogecoin.

Related Reading

Dogecoin

What The 50-Day Moving Average At $0.22 Says About The Dogecoin Price

5 months ago

Additionally, crypto fund issuer Valour has introduced an exchange-traded product (ETP) for Dogecoin. A press release uploaded earlier today read:

DeFi Technologies’ subsidiary Valour Inc. has introduced the Valour Dogecoin (DOGE) ETP on Sweden’s Spotlight Stock Market, marking the first Dogecoin ETP available in the Nordics. This launch expands Valour’s suite of digital asset products, offering investors exposure to Dogecoin, which currently holds a market capitalization of approximately $59.5 billion, ranking it as the 7th largest digital asset globally.

Notably, these milestones highlights the increasing institutional and mainstream recognition of DOGE, contributing to its ongoing price rally.

Dogecoin (DOGE) price chart on TradingView
DOGE price is moving upwards on the 1-hour chart. Source: DOGE/USDT on TradingView.com

In addition to Ali’s technical insights, another analyst, Trader Tardigrade, shared a long-term perspective on Dogecoin. The analyst pointed out that DOGE maintains a recognizable wave pattern on its macro chart, predicting a potential blow-off top that could see the cryptocurrency reaching as high as $20.

# Dogecoin maintains a wave pattern on the macro chart 🔥
Next blow-off top predicted at $20 🚀 pic.twitter.com/8U9DvuBLCm

— Trader Tardigrade (@TATrader_Alan) November 27, 2024

Featured image created with DALL-E, 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

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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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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