Dogecoin Price Crossed Demand Zone, Is It About To Get Wings
The Dogecoin Price retraced the 20 day EMA and jumped higher indicating strength in the crypto.
The DOGE crypto is extending the gains on the third consecutive day and was up 4.26% at the time of writing.
The Dogecoin price has been trading well in the last couple of sessions and has added nearly 17% to its value in the last past three sessions. The price retraced the 20 day EMA and surged higher indicating strength in the trend.
The bears tried to get into the game after the DOGE price attained a new swing high. However, the bulls made a comeback near the dynamic support of 20 day EMA and previous breakout zone and the selling momentum faded away.
The bulls are in control of the trend and the crypto has been headed towards north forming higher highs and higher lows. The 20 and 50 day EMAs are acting as a dynamic support.
The daily chart showcases that Dogecoin has resumed its way on the higher side after a short term correction in February. The short term trend outlook is bullish at the moment and the crypto may continue to conquer higher levels.
Dogecoin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (DOGE), Volume (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2333bd5d%3B%238593ce&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The volume analysis shows that DOGE received nearly 2.17 Billion USD In volume in the past 24 hours which is nearly 5.54% higher than the previous day. The volume has been on the rise for the last few sessions along with the rise in the price.
The volume to market cap ratio is 7.36% suggesting mild volatility in the crypto. It has a live market capitalization of 29.62 Billion USD. it has 143.79 Billion DOGE tokens in the circulating supply which is also the total supply.
Dogecoin Crypto: Social Volume Shows A Positive Trajectory.
<iframe title="Santiment Chart: Social Dominance (DOGE), Social Volume (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=social_dominance_total%3Bsocial_volume_total&wax=0%3B1&wc=%235275FF%3B%2368DBF4&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social volume reveals the number of social media users engaged in the transactions of Dogecoin. The social volume chart highlights that a growth of nearly 60% in the number of users was observed in February.
The total number of social users participating peaked in the 1st week of April and dropped nearly 25%. Recently, the number of users again started to increase indicating a positive value for the crypto. The social dominance value of Dogecoin stands at 1.95% at the moment with an increase of nearly 0.5% in the last one week.
Technical Indicators Imply A Positive Outlook.
<iframe title="Santiment Chart: Price (DOGE), RSI 1d (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=price_usd%3Brsi_1d&wax=0%3B1&wc=%23317945%3B%234f60ce&ws=%7B%22node%22%3A%22area%22%7D%3B%7B%22__appliedInterval%22%3Atrue%2C%22interval%22%3A%221d%22%2C%22node%22%3A%22area%22%7D" scrolling="no"></iframe>
From a technical point of view, the DOGE crypto retraced the 20 day EMA and surged higher indicating strength in the trend. The crypto hovers higher than all the key EMAs of 20, 50 and 200 day EMA suggesting a positive trend prevailing in the short term as well as long term.
At the time of writing, the RSI line was placed close to 60.28 points and that of the SMA line was at 59.88 points. Both the RSI and SMA line were placed above the mean line indicating a positive outlook in the short term.
Dogecoin Price Forecast 2024
On the most optimistic note, Dogecoin Price could gain to a high of $0.260 as the highest value in April if the bulls are able to surpass the recent swing high of $0.227. On the other hand, the most pessimistic prediction of our analysts is for the price to reach $0.122 if it breaks below the recent support level of $0.175.
Conclusion.
The Dogecoin Price is extending the gains on the third consecutive sessions and has jumped nearly 4.26% in intraday to currently trade at $0.205. The price took a rebound from the 20 day Exponential moving average and surged higher indicating strength in the trend.
The short term as well as the long term trend outlook is positive due to which the crypto may resume its way towards the higher levels. The bulls have regained control after a short term correction in February and are intending to conquer higher levels.
Technical levels:
Support levels: $0.175 and $0.172
Resistance levels: $0.227 and $0.260
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
The DOGE crypto is extending the gains on the third consecutive day and was up 4.26% at the time of writing.
The Dogecoin price has been trading well in the last couple of sessions and has added nearly 17% to its value in the last past three sessions. The price retraced the 20 day EMA and surged higher indicating strength in the trend.
The bears tried to get into the game after the DOGE price attained a new swing high. However, the bulls made a comeback near the dynamic support of 20 day EMA and previous breakout zone and the selling momentum faded away.
The bulls are in control of the trend and the crypto has been headed towards north forming higher highs and higher lows. The 20 and 50 day EMAs are acting as a dynamic support.
The daily chart showcases that Dogecoin has resumed its way on the higher side after a short term correction in February. The short term trend outlook is bullish at the moment and the crypto may continue to conquer higher levels.
Dogecoin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (DOGE), Volume (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2333bd5d%3B%238593ce&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The volume analysis shows that DOGE received nearly 2.17 Billion USD In volume in the past 24 hours which is nearly 5.54% higher than the previous day. The volume has been on the rise for the last few sessions along with the rise in the price.
The volume to market cap ratio is 7.36% suggesting mild volatility in the crypto. It has a live market capitalization of 29.62 Billion USD. it has 143.79 Billion DOGE tokens in the circulating supply which is also the total supply.
Dogecoin Crypto: Social Volume Shows A Positive Trajectory.
<iframe title="Santiment Chart: Social Dominance (DOGE), Social Volume (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=social_dominance_total%3Bsocial_volume_total&wax=0%3B1&wc=%235275FF%3B%2368DBF4&ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
The social volume reveals the number of social media users engaged in the transactions of Dogecoin. The social volume chart highlights that a growth of nearly 60% in the number of users was observed in February.
The total number of social users participating peaked in the 1st week of April and dropped nearly 25%. Recently, the number of users again started to increase indicating a positive value for the crypto. The social dominance value of Dogecoin stands at 1.95% at the moment with an increase of nearly 0.5% in the last one week.
Technical Indicators Imply A Positive Outlook.
<iframe title="Santiment Chart: Price (DOGE), RSI 1d (DOGE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=dogecoin&pt=DOGE&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_0fkcqXWOckcn&emcg=1&emhwm=1&wm=price_usd%3Brsi_1d&wax=0%3B1&wc=%23317945%3B%234f60ce&ws=%7B%22node%22%3A%22area%22%7D%3B%7B%22__appliedInterval%22%3Atrue%2C%22interval%22%3A%221d%22%2C%22node%22%3A%22area%22%7D" scrolling="no"></iframe>
From a technical point of view, the DOGE crypto retraced the 20 day EMA and surged higher indicating strength in the trend. The crypto hovers higher than all the key EMAs of 20, 50 and 200 day EMA suggesting a positive trend prevailing in the short term as well as long term.
At the time of writing, the RSI line was placed close to 60.28 points and that of the SMA line was at 59.88 points. Both the RSI and SMA line were placed above the mean line indicating a positive outlook in the short term.
Dogecoin Price Forecast 2024
On the most optimistic note, Dogecoin Price could gain to a high of $0.260 as the highest value in April if the bulls are able to surpass the recent swing high of $0.227. On the other hand, the most pessimistic prediction of our analysts is for the price to reach $0.122 if it breaks below the recent support level of $0.175.
Conclusion.
The Dogecoin Price is extending the gains on the third consecutive sessions and has jumped nearly 4.26% in intraday to currently trade at $0.205. The price took a rebound from the 20 day Exponential moving average and surged higher indicating strength in the trend.
The short term as well as the long term trend outlook is positive due to which the crypto may resume its way towards the higher levels. The bulls have regained control after a short term correction in February and are intending to conquer higher levels.
Technical levels:
Support levels: $0.175 and $0.172
Resistance levels: $0.227 and $0.260
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.