Dogecoin price

Dogecoin’s Four-Legged Fall — DOGE Slides to 9th Market Cap Position Dropping 18% Last Month

September 14, 2021 Bitcoin.com

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply

August 8, 2021 Bitcoin.com

Finder’s Experts Predict Dogecoin Price Should Hit $1.21 by 2025 and $3.60 by 2030

August 4, 2021 Bitcoin.com

Elon Musk’s latest attempt to pump Dogecoin fails miserably

July 1, 2021 Coin Telegraph

Baby Doge

Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.

Dogecoin (DOGE) prices surged but did not skyrocket after receiving another endorsement from Tesla CEO Elon Musk on Twitter on July 1.

The billionaire entrepreneur published a tweet at around 8:43 am UTC — a Godfather-themed meme that shows Marlon Brando's iconic character, Don Vito Corleone, with the text "YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE RUNNING DOES NOT COMPILE."

Meanwhile, Musk captioned the tweet "Release the Doge!"

Release the Doge! pic.twitter.com/9bXCWQLIhu
— Elon Musk (@elonmusk) July 1, 2021

Seconds after the tweet was posted, the DOGE/USD exchange rate surged from $0.24 to $0.261 — about 8.42%. A sell-off followed suit, which took the pair as low as $0.247. Just then, at 9:24 am UTC, Musk tweeted another gibbering message that read "Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge."

Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge
— Elon Musk (@elonmusk) July 1, 2021

DOGE/USD rose 5.22% to $0.260 after the second tweet.

*DOGE price 1-minute candle chart. Source: TradingView*

In the next couple of hours, DOGE/USD attempted to reclaim the intraday high of $0.261 on the Musk factor, but profit-takers kept offsetting their upside bias, as shown via the large minute-candle bullish wicks in the chart above.

Nevertheless, Dogecoin was still down by almost 0.5% around 12:00 pm UTC, hinting that Musk's influence on the cryptocurrency market is in decline .

Earlier this year, the Tesla CEO's whole-hearted endorsement of Dogecoin caused massive retail-led price spikes, so much so that the cryptocurrency's market cap peaked at almost $100 billion in early May.

Even Elon tweeting about Doge doesn't work anymore
— Joe Weisenthal (@TheStalwart) July 1, 2021

At the time, the DOGE/USD exchange rate surged to its record high of $0.76.

The pair is now worth half of its value two months ago, primarily due to a significant crypto market correction that saw almost all the top-cap assets — including Bitcoin (BTC), Ether (ETH) and XRP — crash by more than 50% as well. Altcoins such as Dogecoin typically trade in sync with Bitcoin.

damn it.

not even @elonmusk can pump doge anymore.

we are all going to die poor are we. pic.twitter.com/JBVbFx3oFD
— NFTeddy (@TeddyCleps) July 1, 2021

Baby Doge booms, meanwhile

While Dogecoin logged brief upside pumps, one of its copycat memecoins, Baby Doge Coin (BABYDOGE), climbed sharply after Musk's 9:24 am UTC tweet.

*Baby Doge Coin's price is too low to calculate*

Baby Doge Coin was worth around $0.00000001 before Musk's tweet but surged by more than 35% later. Nevertheless, the memecoin's value remained too low for even CoinMarketCap to calculate. Its market cap was also zero as of the time of publication.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.

Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts

June 18, 2021 Coin Telegraph

Bitcoin

The meme cryptocurrency has crashed by over 60% from its May 8 peak and one analyst believes it has another 60% deeper to go.

If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.

For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a "Head and Shoulder" pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two.

Durden flashed the Head and Shoulder-like pattern to predict a 67% price crash in the Dogecoin market.

Calling it "programmed," the analyst hinted at the pattern's tendency to crash the assets once it breaks below $0.299, the support level.

Typically, the downside target in such a case comes to be equal to the pattern's height. In Dogecoin's case, the maximum length between the Head and Shoulder pattern's top and support level came out to be $0.197.

*Dogecoin crash anticipated if its breaks below $0.299-support. Source: Tyler Durden, TradingView.com*

That shifts the Head and Shoulder pattern's downside target lurks near $0.05, as Durden highlighted.

"Even Elon [Musk] can't save this with his tweets. He's tried, and each time he just created another lower high," he said. "0.05 is programmed."

Interim supports

In detail, the DOGE/USD exchange rate corrected by a little over 60% after topping out on May 8 at $0.76. The run-up to $0.76-top itself came as a part of a 16,462% price explosion if measured from the beginning of 2021.

Meanwhile, from its pandemic-led March 2020 low of $0.00112, Dogecoin's net returns until $0.76 came out to be 67,757.14%. The huge upside made the so-called joke cryptocurrency the best-performing financial asset on the planet, beating even the combined returns of Bitcoin (BTC), S&P 500, Nasdaq Composite, and gold.

What worked as a bullish catalyst for Dogecoin was nothing but tweets from Elon Musk, a billionaire entrepreneur who sent out various supportive messages favoring the cryptocurrency during its multi-thousand percent price rally.

ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk, the 2nd (@elonmusk) February 4, 2021

On April 28, the Tesla CEO proclaimed himself as "Dogefather," sending the Dogecoin prices up by 18% on the same day. Before that, Musk's decision to work with Dogecoin developers to improve its transaction efficiency resulted in a 25.25% intraday price pump on May 13.

But the frenzy-like, Musk-led pump also left Dogecoin with little possibility of establishing sustainable price floors.

Making an exception, DOGE/USD did hold the $0.040-$0.047 area in February-March 2021, following its 50%-plus bearish correction from the then all-time high of $0.1. After eight weeks of maintaining the range as support, the pair resumed its upside rally, eventually hitting $0.76.

*D weekly chart shows the next support confluence in the $0.040-0.047 area. Source: TradingView.com*

Therefore, before hitting Durden's $0.01 price target, Dogecoin anticipates to find buyers in the $0.040-0.047 area, owing to its brief but historical significant as a support range.

Meanwhile, DOGE/USD also maintains an interim support confluence defined by the $0.25-0.27 range and the 20-week exponential moving average (20-day EMA; the green wave in the chart above).

Zero?

Meanwhile, The Asian Investor, a pseudonymous analyst, does not expect the technical levels to keep Dogecoin from crashing harder. In his Seeking Alpha piece published earlier this month, the pseudonymous analyst called Dogecoin a pump-and-dump token, adding that the cryptocurrency would eventually crash to zero. Excerpts:

"With new pump-and-dump “opportunities” popping up every other day, it is not very appealing to invest [in] an “asset” that has already risen this much. Expect Dogecoin to fall towards $0 this year and die a slow death."

Dogecoin gets back to pre-crash prices as $16M in DOGE shorts get liquidated

June 2, 2021 Coin Telegraph

Dogecoin gets back to pre-crash prices as M in DOGE shorts get liquidated

Coin Telegraph

The Dogecoin bull run is not over thanks to its Coinbase listing and simultaneous DOGE price rally.

Dogecoin (DOGE) prices jumped by nearly 40% on a 24-hour adjusted timeframe on Wednesday, shaking out more than $16 million worth of bearish leverage in just one hour while almost reclaiming its pre-crash high.

*Dogecoin derivatives market records massive liquidations on hourly timeframes. Source: ByBt.com*

Leveraged bearish traders caught themselves on the wrong side of trading after Coinbase Pro, a United States-based crypto trading platform, announced that it would enable DOGE trading to its portal from Thursday.

“Starting immediately, we will begin accepting inbound transfers of DOGE to Coinbase Pro,” Coinbase confirmed in its blog post.

“Once sufficient supply of DOGE is established on the platform, trading on our DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books will launch in three phases, post-only, limit-only and full trading.”

The news prompted a sudden overnight spike across DOGE spot markets, burning speculators who had placed bets on the cryptocurrency’s price decline.

A bored market gravitates to $DOGE.

Spot volume dominance (orange) compared to rest of the alts (blue) on Binance spot. pic.twitter.com/PlkdOJkf0V
— Hsaka (@HsakaTrades) June 2, 2021

The DOGE/USD exchange rate rose by up to $0.064, or 17.34%, after opening Wednesday in green. The pair reached an intraday high of $0.454 before witnessing a minor downside correction led by profit-takers. As of 12:07 UTC, DOGE was changing hands for $0.434.

Dogecoin also fared well against its top rival asset, Bitcoin (BTC). The DOGE/BTC exchange rate jumped 33% in the previous 24 hours, wiping all the losses that it had incurred against Bitcoin during the May 19 crash.

*Dogecoin posts massive intraday gains against the U.S. dollar and Bitcoin. Source: TradingView*

The past 24 hours witnessed Dogecoin short liquidations worth $47.83 million.

Bullish calls resurface

Dogecoin’s latest move uphill also prompted observers to predict a $1 valuation in the coming sessions, a level DOGE/USD missed after peaking out at $0.76 on Binance.

For instance, Primordial Hashrate, a crypto-focused newsletter service, cited Dogecoin’s Relative Strength Index (RSI) — a technical indicator that charts an asset’s current and historical strength or weakness — as its signal to bid DOGE/USD toward $1.

$DOGE has picked up huge buys on the RSI buy zone.
2. Is the next buy zone resistance for $Doge.
$1 incoming.. pic.twitter.com/xllZnOJl7t
— Primordial Hashrate ❗ (@prhashrate) June 2, 2021

Ronnie Moas, founder of Standpoint Research — a Miami-based financial research startup — noted that Dogecoin’s addition on Coinbase Pro, a platform most popular among professional crypto traders, would open DOGE to “million more investors worldwide.”

Massive bubble

Dogecoin grew into traders’ conscience primarily after it received backing from Elon Musk. The Tesla founder and CEO posted tweets in support of Dogecoin insofar that he ended up calling himself “the Dogefather” in jest, while also recently stating that he’s “Dogecoin’s master.”

Musk’s popularity became instrumental in pushing the DOGE/USD bids up by more than 15,300% in 2021, with its market capitalization hitting $92 billion, surpassing even Airbnb and Infosys.

Found this pic of me as a child pic.twitter.com/hUEKluRAdP
— Elon Musk (@elonmusk) June 2, 2021

But the supersonic price rally has also invited fear, uncertainty and doubt, or FUD, of a potential bubble. The panic almost engulfed the market after Musk called Dogecoin a “hustle” during his television appearance on Saturday Night Live on May 8, leading to a 45% price decline in the next three daily sessions.

The sell-off intensified further on May 19 amid a market-wide brutal sell-off. Dogecoin fell to as low as $0.29, down more than 74% from its all-time high of $0.76. Pseudonymous analyst the Asian Investor noted that Dogecoin is in the third stage of a “massive bubble” — the hype stage — that would soon follow up with deflation and panic-selling phases. He added:

“All hypes end. When this hype is over, people will look back on Dogecoin and wonder how wealth could have ever been created out of nothing.”

Dogecoin has rebounded by almost 132% after bottoming out at $0.29.

Dogecoin’s Four-Legged Fall — DOGE Slides to 9th Market Cap Position Dropping 18% Last Month

Finder’s Experts Predict Dogecoin Price Should Hit $1.21 by 2025 and $3.60 by 2030

Elon Musk’s latest attempt to pump Dogecoin fails miserably

Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts

Dogecoin gets back to pre-crash prices as $16M in DOGE shorts get liquidated

Mike Novogratz Doubts Dogecoin’s Future — ‘No Institution Is Buying DOGE, Retail Will Lose Interest’

‘Wolf of All Streets’ Trader Says Dogecoin Is a Good Entry Point to Cryptocurrency, Has Advice for DOGE Investors

Dogecoin Market Cap Nears $100B, Critics Blast ‘Joke Coin,’ Community Abuzz With Rumors of DOGE Whales

Dogecoin Nears All-Time Highs, Price Launches Higher After Elon Musk’s ‘Dogefather’ SNL Tweet

Share this video