Dogecoin: The Enigma Unleashed - Mysterious Signals Point to Imminent Price Surge

Dogecoin: The Enigma Unleashed – Mysterious Signals Point to Imminent Price Surge

Updated: 01 June 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Dogecoin’s (DOGE) price struggles to surpass the $0.074 resistance against the US dollar. It trades below the $0.0725 zone and the 100 simple moving average (4 hours).

DOGE/USD Breaks Bearish Trend Line, Awaits Key Level Breakout for Potential Strong Rally

DOGE/USD pair is in a brief consolidation above the support level at $0.0708. If the $0.0708 support zone remains strong, the pair has the potential to initiate a new rally. Dogecoin’s price found support around $0.0685 after a significant drop. However, it then formed a solid base and started to rise, following the upward movement to the $0.0740 resistance level.

The price broke through the $0.0740 resistance zone, indicating a clear upward trend. Bulls successfully pushed the price above 50%. A notable bearish trend line near $0.0722 was also broken on the 4-hour chart of the DOGE/USD pair.

The $0.074 resistance saw bearish activity, causing Dogecoin to face rejection. The price could not surpass the 76.4% Fibonacci retracement level of the previous downward move from the $0.0755 swing high to the $0.0684 low. At the time of writing, DOGE is trading below the $0.0717 zone and the 200 and 50 (4 hours) moving average.

It is, however, holding the crucial support zone at $0.0708. On the upside, the price is expected to encounter resistance around the $0.0742 level, which is our expected prediction on the 4-hour timeframe.

Dogecoin Price Prediction – DOGE/USD Support Levels Under Pressure

The key support levels for DOGE/USD are $0.0708 and $0.0685. If the price breaks below $0.0708, it might decline to $0.0685. The MACD indicator on the daily timeframe suggests bearish momentum, while the RSI is below the 50 level at 41, indicating a bearish sentiment.

However, if the price breaks above the critical support zone, an upward trend will be inevitable, and our price forecast is $0.0745. Above this price, we should see the price touching the $0.0815 zone.

Capitalizing on Surge of $COPIUM as an Alternative

$COPIUM is trading at $0.001546 USD, with a 24-hour trading volume of $376,684 USD at the time of writing. Over the past 24 hours, $COPIUM has experienced a decline of 11.77%. The circulating supply and maximum supply are both set at 1,000,000,000 COPIUM coins.

The $COPIUM price has firmly established a support level at $0.0012 and shows no signs of retracing, steadily ascending along a trendline. The trajectory of the $COPIUM price indicates a parabolic angle of attack for its short-term price action.

$COPIUM stands out with its strong tokenomics and well-distributed structure. The project has a total supply of 1 billion tokens, with 30% available during the presale stage. Additionally, 25% is reserved for future liquidity pools. Notably, $COPIUM generates considerable excitement due to its NFT Airdrop, with 1% of the total supply allocated for this purpose.

Investors can tap into the hype surrounding this meme coin by exploring the potential of $COPIUM and its accompanying NFT Airdrop. You can also become part of the exclusive presale event, which is an invite only activity. To be eligible, investors need to accomplish three things; show interest in the project this early, be active in Copium’s socials, and finally, create memes to show they’re part of the community.