{"id":642242,"date":"2024-09-16T21:00:01","date_gmt":"2024-09-16T21:00:01","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=642242"},"modified":"2024-09-16T10:12:12","modified_gmt":"2024-09-16T10:12:12","slug":"dogecoin-0-1-falling-wedge-0-2","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/dogecoin\/dogecoin-0-1-falling-wedge-0-2\/","title":{"rendered":"Dogecoin At $0.1 Is A \u2018Gift\u2019, Falling Wedge Breaking Bullish To Send Price To $0.2"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Dogecoin (DOGE) is <\/span><a href=\"https:\/\/www.shenyangcang.com\/analysis\/doge\/dogecoin-doge-trims-gains-0-10\/\"><span style=\"font-weight: 400\">currently trading at $0.102<\/span><\/a><span style=\"font-weight: 400\">, but the popular meme-based cryptocurrency appears to be positioning itself for a <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-bulls-target-0-1293-after-breakout\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">potential move to the upside<\/span><\/a><span style=\"font-weight: 400\">. 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.<\/span><\/p>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<h2>Dogecoin Falling Wedge Breaking Bullish<\/h2>\n<p><span style=\"font-weight: 400\">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<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/solana\/warning-solana-crash-42-to-80\/\">Analyst Sounds Warning For Bullish Investors, Says Solana Will Crash 42% To $80<\/a><\/div>\n<p><span style=\"font-weight: 400\">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 $0.08 on August 5. Following this low point in early August, Dogecoin has managed to <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-whales-400-million\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">stage a modest recovery<\/span><\/a><span style=\"font-weight: 400\">, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$DOGE<\/a> almost Breaking Out !<\/p>\n<p>This Falling Wedge on the <a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#DOGE<\/a> daily chart is close to breaking Bullish<\/p>\n<p>The break out target for <a href=\"https:\/\/twitter.com\/hashtag\/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Dogecoin<\/a> will be $0.20 <a href=\"https:\/\/t.co\/MoAQe1Xo6r\" rel=\"nofollow\">pic.twitter.com\/MoAQe1Xo6r<\/a><\/p>\n<p>\u2014 Crypto Yapper (@CryptoYapper) <a href=\"https:\/\/twitter.com\/CryptoYapper\/status\/72962904?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 14, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">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. <\/span><\/p>\n<p><span style=\"font-weight: 400\">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.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/analyst-says-bitcoin-will-reach-68000-by-end-of-september-90000-in-december\/\">Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December<\/a><\/div>\n<p><a href=\"https:\/\/x.com\/CryptoHotep\/status\/10841570\" rel=\"nofollow\"><span style=\"font-weight: 400\">Echoing the falling wedge <\/span><\/a><span style=\"font-weight: 400\">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. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn&#8217;t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/wCzsYxNj\/\" alt=\"Dogecoin price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">DOGE price still holding $0.1 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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 a classic price pattern known as a falling wedge. 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. Dogecoin Falling Wedge Breaking Bullish 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 Related Reading: Analyst Sounds Warning For Bullish Investors, Says Solana Will Crash 42% To $80 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, rising by approximately 25% to its current level. However, DOGE has yet to break above the upper resistance trendline of the falling wedge pattern. $DOGE almost Breaking Out ! This Falling Wedge on the #DOGE daily chart is close to breaking Bullish The break out target for #Dogecoin will be $0.20 pic.twitter.com\/MoAQe1Xo6r \u2014 Crypto Yapper (@CryptoYapper) September 14, 2024 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. 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. Related Reading: Analyst Says Bitcoin Will Reach $68,000 By End Of September, $90,000 In December Echoing the falling wedge 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. This comment was made regarding a forecasted breakout above the upper trendline. Although there wasn&#8217;t a projected price target, his comment showed this is probably the best time to buy DOGE before the projected breakout.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":642256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[167,6664,26263,14690,1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-642242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\n<title>Dogecoin At $0.1 Is A \u2018Gift\u2019, Falling Wedge Breaking Bullish To 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