{"id":422231,"date":"2023-07-19T13:39:16","date_gmt":"2023-07-19T13:39:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=422231"},"modified":"2023-07-19T14:00:17","modified_gmt":"2023-07-19T14:00:17","slug":"dogecoin-doge-recovers-from-massive-plunge-how-long-will-this-progress-last","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-doge-recovers-from-massive-plunge-how-long-will-this-progress-last","title":{"rendered":"Dogecoin (DOGE) Recovers From Massive Plunge \u2013 How Long Will This Progress Last?"},"content":{"rendered":"

Today, July 19, there is a notable recovery in the price of <\/span>Dogecoin (DOGE)<\/span><\/a>. This recovery could be attributed to several factors, such as the large number of <\/span>token holders<\/span> and ongoing activities related to it.<\/span><\/p>\n

DOGE Price Performance<\/h2>\n

Regarding the token’s price performance, DOGE has experienced a slight but promising improvement today.<\/span><\/p>\n

Over the past 24 hours, the price of DOGE has increased by 1.81%. Moreover, the coin has increased impressively by 6.15% over the last seven days. As of 07:13 EST, Dogecoin is trading at $0.06939.<\/span><\/p>\n

Despite the positive price action, it is worth noting that the trading volume in the last 24 hours is still down by less than 23%. <\/span>Notably, the overall crypto market’s trading volume is also down by <\/span>8%<\/span><\/a> in the same 24-hour period.<\/span><\/p>\n

Dogecoin Shapes Up for A Bullish Path In The Short Term<\/h3>\n
\"Dogecoin\"
Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

Considering the current market conditions, Dogecoin (DOGE) could be shaping up for a potential bullish move.<\/span><\/p>\n

A key indicator supporting this possibility is the 50-day Simple Moving Average (MA), given that the token’s price trades above it. This shows that the average price of DOGE over the last 50 days is below its present value.<\/span><\/p>\n

However, it’s worth noting that the price of DOGE is still below the 200-day Simple Moving Average, which might act as a resistance in the short term.<\/span><\/p>\n

Another positive signal is the MACD line which is now above the signal line, indicating a potential bullish crossover. This trend further supports the rise in DOGE’s price.<\/span><\/p>\n

Also, the RSI stands at 54.35, implying that DOGE is neither oversold nor overbought. So, there is room for the token to gain momentum and continue its upward movement.<\/span><\/p>\n

DOGE resistance and support level data<\/h3>\n
\"Dogecoin\"
Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

Although DOGE has recently dropped from a resistance position at $0.07031, the trend line on the chart above creates a support level for the price.<\/span><\/p>\n

If DOGE manages to break past the resistance level at $0.07031 and sustain its upward momentum, it may pave the way for further price appreciation.<\/span><\/p>\n

However, as with any financial market, there are inherent risks, and sudden changes in market sentiment or external factors can impact price movements. Therefore, it’s essential to exercise caution and conduct thorough research before attempting any investment decisions.<\/span><\/p>\n

Experts See Continuous Progress in DOGE’s Price in the Long Term<\/h2>\n

Based on the latest long-term forecasts from experts, Dogecoin (DOGE) might undergo a mix of growth and fluctuations in its price trajectory.<\/span><\/p>\n

According to <\/span>DigitalCoinPrice<\/span><\/a>, DOGE’s maximum prices in the coming years will follow a gradual increase. 2024 the token is predicted to reach a maximum price of approximately $0.18.<\/span><\/p>\n

This growth could continue in 2025, when the maximum price is projected to reach $0.25. However, the growth rate appears to be slowing down compared to previous years.<\/span><\/p>\n

On the downside, the minimum price is estimated to be around $0.15 in 2024. In 2025, the minimum price projection increases to approximately $0.20.<\/span><\/p>\n

Launching into 2026, Coincodex’s predictions suggest a continuation of gradual growth for Dogecoin. The maximum price could be around $0.092. While this indicates a positive trend, it also suggests that DOGE’s growth might be more restrained.<\/span><\/p>\n

Furthermore, the minimum price forecast by <\/span>Coincodex<\/span> is approximately $0.060.<\/span><\/p>\n

Fast-forwarding to 2030, experts predict that the token could hit a high of $0.121, reflecting continued growth over the years. As for the downside risk, the projected minimum price is approximately $0.047.<\/span><\/p>\n

Factors\/Updates That Could Control the DOGE Price Actions<\/h2>\n

In response to a motion filed by Evan Spencer, the lawyer representing the plaintiffs in a $258 billion lawsuit alleging Elon Musk’s involvement in an illegal racketeering scheme related to Dogecoin, lawyers representing Elon Musk and Tesla have issued a sharp rebuttal.<\/span><\/p>\n

They have requested the United States district court judge to dismiss the motion, labeling it a waste of time.<\/span><\/p>\n

The motion <\/span>filed<\/span><\/a> by Spencer claimed that there were conflicts of interest and it was inappropriate for the legal team to represent both Musk and Tesla simultaneously.<\/span><\/p>\n

In their response on July 6, Elon Musk and Tesla’s legal team defended their position, <\/span>asserting<\/span><\/a> that they can represent both parties without any conflict of interest.<\/span><\/p>\n

Musk’s lawyers maintain that the motion to remove them from the case lacks merit and only serves to prolong the legal proceedings unnecessarily.<\/span><\/p>\n

The court will now review the parties’ arguments before deciding on the validity of the motion and its potential impact on the ongoing lawsuit.<\/span><\/p>\n

Other factors<\/h3>\n

The price of Dogecoin (DOGE) can be influenced by various factors, including but not limited to:<\/span><\/p>\n

Token supply<\/b><\/p>\n

Dogecoin’s significant supply of over 140 billion tokens can impact its price, particularly if it remains abundant.<\/span><\/p>\n

Importantly, the higher its supply, the more downward pressure on its price. However, factors like demand and adoption can counteract this effect.<\/span><\/p>\n

Adoption and use cases<\/b><\/p>\n

Adopting Dogecoin as a <\/span>means of payment<\/span><\/a> or for various use cases can significantly impact its price.<\/span><\/p>\n

Increased adoption and acceptance by businesses, online platforms, and communities can create more utility for DOGE, driving up demand and potentially raising its price.<\/span><\/p>\n

Bitcoin and general crypto market trends<\/b><\/p>\n

The overall sentiment and performance of the broader cryptocurrency market, particularly Bitcoin, can substantially impact Dogecoin’s price.<\/span><\/p>\n

Cryptocurrencies often correlate with Bitcoin, and significant price movements in Bitcoin can lead to similar movements in DOGE and other altcoins.<\/span><\/p>\n

Wall Street Memes (WSM), An Alternative to Dogecoin<\/h2>\n

Wall Street Memes (WSM)<\/span><\/a> is not just a typical meme coin project; it aspires to go beyond the realm of digital tokens by challenging traditional entities in the finance industry.<\/span><\/p>\n

While this goal remains central to the project’s mission, WSM also presents exciting financial opportunities for early investors eager to join an innovative venture.<\/span><\/p>\n

Moreover, the project raises a like-minded community that shares a common vision of disrupting the status quo in the financial world.<\/span><\/p>\n

One of the unique aspects of Wall Street Memes is its creative use of memes to drive engagement and unite small investors.<\/span><\/p>\n

In doing so, the project acknowledges the potential of memes and online communities in empowering smaller investors who have often felt overlooked.<\/span><\/p>\n

The spirit of unity that Wall Street Memes is known for extends beyond just the realm of finance. It strives to become a vibrant and dynamic community that fosters bonds among its members.<\/span><\/p>\n

Through this novel approach, Wall Street Memes envisions becoming more than just another meme coin; it seeks to be a driving force for change, amplifying the voices of small investors and challenging the norms that have defined the finance industry for decades.<\/span><\/p>\n

Features Of WSM<\/h3>\n

Wall Street Memes stands out in the cryptocurrency landscape with various captivating features that distinguish it from the crowd. These notable offerings include:<\/span><\/p>\n

Token Airdrop<\/b><\/p>\n

Wall Street Memes introduces an exciting token airdrop program, providing a unique opportunity for individuals to acquire $WSM tokens.<\/span><\/p>\n

To take part, interested individuals enter the airdrop event, and after six months, five lucky winners are selected to receive the reward of $10,000 worth of $WSM tokens.<\/span><\/p>\n

This initiative encourages excitement within the community and allows more people to get involved in the project.<\/span><\/p>\n

NFT Collection – Wall Street Bull<\/b><\/p>\n

WSM also demonstrates its innovative spirit by creating the Wall Street Bull NFT Collection.<\/span><\/p>\n

This impressive collection includes 10,000 exclusive digital assets, each representing a distinct piece of Wall Street’s essence.<\/span><\/p>\n

The NFTs offer a fresh perspective on finance, providing a unique and creative way for enthusiasts to engage with the project and own a piece of its history.<\/span><\/p>\n

WSM Merchandise<\/b><\/p>\n

WSM merchandise fosters a sense of unity among the Wall Street Memes community. Community members proudly identify with the project by wearing and displaying WSM-branded products, reinforcing their connection to the shared vision.<\/span><\/p>\n

Additionally, the merchandise acts as a potent marketing tool, increasing brand awareness and recognition. As individuals showcase the Wall Street Memes logo and designs in their everyday lives, it creates a ripple effect, sparking curiosity and intrigue among those who come across it.<\/span><\/p>\n

Wall Street Memes presale progress<\/h3>\n

The presale of Wall Street Memes has achieved remarkable success, generating an impressive sum of over $15 million.<\/span><\/p>\n

The outstanding performance in the presale has ignited significant optimism among investors, who now speculate that the token’s value could multiply by 100 soon. During its semi-final presale stage, the WSM token is trading at $0.0319.<\/span><\/p>\n

How to buy the Wall Street Memes token<\/h3>\n