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The Dogecoin price dropped 2% in the last 24 hours to trade at $0.3111 as of 11:16 p.m. EST on trading volume that surged 22% to $2.6 billion.
Dogecoin Price Aims For A Breakout
The Dogecoin price analysis on the 4-hour timeframe has shifted from a strong bullish trend earlier in November to a bearish-to-sideways movement as of late December.
After peaking near $0.45, the DOGE price began to retrace significantly, falling below both the 50-period and 200-period Simple Moving Averages (SMAs) on the 4-hour chart, according to GeckoTerminal data. This marked a clear bearish reversal.
The recent price action suggests a period of consolidation within a defined range between $0.30 (support) and $0.33 (resistance). This range-bound trading follows a sharp breakdown on Dec. 17, where the price fell below the 50-period SMA. Despite attempts to recover, the price of DOGE has been unable to reclaim this moving average, signaling weak upward momentum. This type of structure often precedes either a breakout or continuation of the downtrend.
Additionally, the Relative Strength Index (RSI) is at 42.88, indicating neutral to bearish conditions. It is neither oversold (<30) nor overbought (>70), but the downward bias suggests that sellers still hold the upper hand. A drop below 40 could indicate further weakness.
DOGE Price Prediction
The current consolidation phase between $0.30 and $0.33 is critical. A breakout or breakdown will likely dictate the next major move.
If the Dogecoin price breaks above $0.33 with strong volume, it could target the $0.35-$0.36 range. Further resistance lies near $0.38 (200-period SMA).
Conversely, a breakdown below $0.30 could lead to a decline toward $0.25 or lower, as that area has limited support.
Given the overall bearish trend and the inability to reclaim key moving averages, the bias remains slightly bearish unless the price breaks above the 50-period SMA and sustains a move higher.
As the Dogecoin price aims for a breakout, investment is flooding into the new presale meme coin Flockerz (FLOCK), offering a tantalizing staking APY.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $8.3 Million – Last Chance To Buy Before Launch
Flockerz is in the final 22 days of its ICO after raising $8.3 million, and momentum is strengthening as the presale comes to an end.
Flockerz sets itself apart from other meme coins by introducing a vote-to-earn (V2E) system. This system puts decision-making power in the hands of token holders and rewards them for participating.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
Users must buy FLOCK tokens to participate in the voting process. When a new suggestion is presented, members of The Flock vote.
The flock isn't messing around! Our Vote to Earn system is serious business! 🐦👋 pic.twitter.com/mrWNyKrPy7
— Flockerz (@FlockerzToken) December 16, 2024
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 331%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at $0.0065561 each using BNB, ETH, or USDT.
You can also make a purchase using your bank card. Buy before the presale ends in about 22 days to secure the best deal.
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