{"id":355279,"date":"2022-11-01T22:40:09","date_gmt":"2022-11-02T02:40:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=355279"},"modified":"2022-11-02T05:01:17","modified_gmt":"2022-11-02T09:01:17","slug":"dogecoin-price-prediction-could-doge-can-pump-past-0-20-this-week","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-could-doge-can-pump-past-0-20-this-week","title":{"rendered":"Dogecoin Price Prediction – Could DOGE Can Pump Past $0.20 This Week?"},"content":{"rendered":"

Dogecoin (DOGE) has been among the largest gainers over the past week. The meme coin has reported weekly gains of over 110%. In the last 24 hours, DOGE has gained by 6.7%, trading at $0.136 at the time of writing.<\/p>\n

Dogecoin price analysis<\/h2>\n

DOGE has been outperforming the broader market in the last week. The explosive gains made by the meme coin have enabled its market cap to flip Solana and Cardano. DOGE is now the eighth largest cryptocurrency with over in $18.63 billion market capitalization.<\/p>\n

The gains have allowed DOGE to recover some of its yearly losses, which is currently down 49% year-to-date. If the buying pressure is sustained, DOGE could likely rally to $0.20 before targeting $0.45.<\/p>\n

\"Dogecoin<\/p>\n

The technical indicators currently point to DOGE being in a bearish trend. The Relative Strength Index (RSI) at 37 points to DOGE leaning to the oversold side, which could be attributed to short-term traders taking profits.<\/p>\n

On the other hand, the Moving Average Convergence Divergence (MACD) line has dropped below the signal line, which is also bearish. These indicators could also point to a trend reversal, and we could likely see DOGE rallying higher after weak hands have finished selling. Therefore, a rally to $20 is likely.<\/p>\n

The Dogecoin community is excited about Elon Musk’s Twitter purchase. Musk has now announced<\/a> plans to have Twitter users pay $8 monthly for their verification badges. As Musk had earlier hinted at allowing DOGE payments on Twitter, the $8 payment will likely be made in DOGE.<\/p>\n

However, Binance, which has a $500 million stake in Twitter, has opined that payments be supported in multiple cryptocurrencies. Therefore, the crypto payments option could also be bullish for multiple cryptocurrencies.<\/p>\n

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JUST IN: #Binance<\/a> CEO says Twitter should support multiple cryptocurrencies.<\/p>\n

— Watcher.Guru (@WatcherGuru) November 1, 2022<\/a><\/p><\/blockquote>\n