Bulls in Dogecoin (DOGE) seem to have stepped up their game as the daily price chart of the biggest meme coin in the world is trending positively, fueling speculations about an impending rally. Kevin Capital, a cryptocurrency market expert and enthusiast has offered insights on DOGE’s price action, confirming an effective break out for the crypto asset, as it surpasses the $0.153 resistance level. Dogecoin Surpasses the $0.153 Resistance It is noteworthy that the crypto analyst Kevin previously predicted that for Dogecoin to move higher it needs to break above the $0.153 level and the 200 Simple Moving Average (SMA) in the 4-hour timeframe. “When it comes to Dogecoin all DOGE needs to do to have a higher chance of playing out the potential inverse head and shoulders is a break above the 4-hour 200 SMA and the $0.153 level,” he stated. Related Reading: Unlocking The Dogecoin Code: One Factor Holds The Key To Its Next Ascent At the time, Kevin noted that DOGE has repeatedly tried to reach this moving average and has been turned down. Thus, should the crypto asset break out of and maintain this moving average, he expects an upswing to the $0.22 price level. According to the analyst, the development has successfully manifested today, as the digital asset has surpassed the $0.153 level and the 200 moving average. Given Kevin’s prognosis, Dogecoin will have to sustain this area to see a further upsurge. If DOGE manages to hold during any prospective backtest and thereafter, Kevin has placed his inverted head and shoulders target at $0.18 and $0.22, if it is within reach. The post read: Update on the Dogecoin chart. We have officially broken above the $0.153 level and the 200 SMA on the 4HR. We need to hold this area on any potential backtest and then .18 cents and the inverse head and shoulders target of $0.22 cents if right in reach. This accomplishment coincides with a spike in the meme coin market’s favorable sentiment, which indicates increased investor trust and interest in these digital assets. With breakouts and decouplings occurring all over the place over the past few days, meme coins had an eye-catching start to the week. Several Support Levels For DOGE And Their Significance Dogecoin’s recent price upswing has triggered an optimistic outlook from multiple crypto experts. Another analyst who has shared a positive prediction for the meme coin is Crypto Daily Trade Signals. Crypto Daily Trade Signals has delved into the current support levels for DOGE and the potential price trajectory following a breakout. According to the channel, the 50-day EMA at $0.1652 is serving as a resistance level at the moment. Should DOGE break past this barrier, it could trigger the start of a bull run for the coin. Related Reading: DOGE Price Prediction – Dogecoin Reaches Make-or-Breaks Levels Furthermore, the channel noted that the 100-day EMA around $0.1434 is presently offering support, indicating that DOGE has a cushion against additional drops. Meanwhile, the 200-day EMA is acting as a strong long-term support level at $0.1237. During the time of writing, Dogecoin was demonstrating an upward momentum of over 6% in the past week, trading at $0.1549. Its trading volume and market cap have both increased by over 11% and 3% respectively in the past day. Featured image from iStock, chart from Tradingview.com
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New Solana Memecoin Innocent Trump (INOTRUMP) Will Skyrocket 14,000% as KuCoin Listing Announced, While Shiba Inu and Dogecoin Struggle
Innocent Trump could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Innocent Trump (INOTRUMP), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days. This is because INOTRUMP has announced its first centralized exchange listing, which will be on KuCoin. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Innocent Trump can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make
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Coinbase Files New Document Claiming SEC’s Actions Aimed At Crushing Crypto
In a recent filing, US-based cryptocurrency exchange Coinbase has made sharp accusations against the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, claiming their actions aim to stifle the cryptocurrency sector. The filing comes amid an ongoing legal battle between Coinbase and the SEC, which alleges that the exchange engaged in unregistered
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Bitcoin Whales Accumulating Billions Daily: Echo of 2021 Bull Run on the Horizon?
The flagship cryptocurrency Bitcoin ($BTC) has been seeing an influx of capital from whale wallets, which have been adding around $1 billion worth of BTC per day, according to data from the cryptocurrency’s blockchain. That’s according to the CEO of cryptocurrency analytics firm CryptoQuant, Ki Young Ju, who revealed on the microblogging platform X (formerly
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U.S. Treasury Releases First-Ever Risk Assessment on NFTs, Highlighting Potential Illicit Uses and Investor Risks
The United States Treasury Department has published its inaugural finance risk assessment for nonfungible tokens (NFTs), aiming to provide regulators with deeper insights into potential risks and security concerns within the rapidly evolving market. The report identified several risks, including the possibility of terrorists using NFTs to finance operations, state actors funding nuclear proliferation through NFTs, money laundering, and risks to investors who may face theft, rug-pulls, or other fraud forms that have become well-known. The report emphasized that most of these illicit activities occur through fiat financing and transactions, rather than being unique to the digital asset space. “This
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Could Bitcoin Replace Gold For National Reserves? Expert Weighs In
Gabor Gurbacs, a strategic advisor at Tether, the issuer of USDT, recently spotlighted Bitcoin’s potential in “revolutionizing” how central banks handle and secure national reserves, using India’s logistical challenges with gold as a prime example. A Digital Solution For Traditional Gold Logistics India’s decision to relocate a significant portion of its gold reserves from the
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