Claim $500Dogecoin Price Jumps 10% Despite Negative Market Sentiment, But Why?
While the overall crypto market seems negative for the day, the Dogecoin price appreciated around 10%. It seems Elon musk’s opening comment of “DOGE to the moon” during a Twitter space may have influenced this sudden price hike. Nonetheless, the memecoin price still struggles at $0.093 resistance, keeping the trend control under bears’ hand.
Key points:
- The Dogecoin price attempts to break the $0.0934 resistance.
- A daily candlestick above the $0.0934 barrier may prolong a relief rally.
- The 24-hour trading volume in the Dogecoin coin is $1.79 Billion, indicating a 16% gain.
Source-Tradingview
Elon musk’s acquiring Twitter triggered a massive rally for Dogecoin at the October end. Moreover, the increasing whale accumulation supported the bullish growth and pushed the coin’s market value to a six-month high of $0.0159.
However, the recent bloodbath in the crypto market has nearly evaporated the entire gains earned during the aforementioned rally. As a result, the Dogecoin price tumbled 50% and reached the local support of $0.7425.
Furthermore, the prices turned sideways after hitting the $0.07425 mark and created a small range concerning this aforementioned support and $0.0933 resistance. Moreover, the price rejection from either side of the daily candles reflects uncertainty among the market participants.
Anyhow, if the dogecoin keeps getting boast from more of Elon musk’s actions, a bullish breakout above the $0.0933 resistance would encourage significant price recovery. Thus, development could surge the prices 20% higher to tag the $0.11 mark.
On a contrary note, a breakdown below $0.074 would extend the ongoing downfall to the $0.568 mark.
Technical indicator
RSI indicator: The daily-RSI slope dropped below the neutral line indicating a negative shift in market sentiment. Thus this breakdown encourages the bearish thesis to reach $0.568
EMAs: the dogecoin price wobbling between the 20-and-100-day EMA accentuates the above mentioned range. A breakout from either EMA will give additional confirmation for the respective rally.
Dogecoin Price Intraday Levels
- Spot rate: $0.091
- Trend: Bullish
- Volatility: High
- Resistance levels- $0.094 and $0.11
- Support levels- $0.074 and $0.056
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Related Articles
- “Orange or Green?” Saylor’s Bitcoin Tracker Sparks New BTC Accumulation Speculation
- Bitcoin Holds Above $90K Despite Venezuela Strike As Market Shows Resistance To Geopolitical Shocks
- Maduro Arrest: Prediction Markets Face Insider Trading Scrutiny After Latest US Attack on Venezuela
- Top Gainers of the Week: MYX, PEPE, CC Lead Market Gains as as Bitcoin Rallies To $90k
- Crypto Traders Increase Bets on Judy Shelton for Fed Chair as Trump Remains Silent on Powell’s Successor
- Weekly Crypto Price Prediction: Bitcoin, Ethereum and XRP
- MSTR Stock Price Prediction 2026: Wall Street Senior Analyst Targets $500
- XRP Price Reclaims $2 After 10% Breakout: How High Can It Climb in January 2026?
- Ethereum Price Prediction 2026 As Vitalik Buterin Unveils New Scaling Roadmap
- Bitcoin and XRP Price Prediction 2026 Ahead of US Crypto Reserve, CLARITY Act
- Analyst Predicts Cardano Price to Surge 103% to $0.75 as Midnight, Leios Launch Near
