{"id":555693,"date":"2024-07-22T14:41:51","date_gmt":"2024-07-22T14:41:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=555693"},"modified":"2024-07-22T14:41:51","modified_gmt":"2024-07-22T14:41:51","slug":"dogecoin-price-prediction-doge-jumps-6-as-this-new-shib-derivative-ico-goes-ballistic","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-doge-jumps-6-as-this-new-shib-derivative-ico-goes-ballistic","title":{"rendered":"Dogecoin Price Prediction: DOGE Jumps 6% As This New SHIB Derivative ICO Goes Ballistic"},"content":{"rendered":"

The Dogecoin price soared 6% in the last 24 hours <\/span>to trade at $0.1374<\/span><\/a> as of 03:31 a.m. EST on trading volume that surged 38% to $1.4 billion.<\/span><\/p>\n

This comes as market sentiment becomes more buoyant with the <\/span>Crypto Fear and Greed Index<\/span><\/a> surging to 70, up from 25 as recently as July 13.<\/span><\/p>\n

The meme coin space has also rebounded with a 2% surge in the last 24 hours to a market capitalization of $53 billion.<\/span><\/p>\n

Dogecoin Price Set For A Trend Continuation Towards $0.17<\/h2>\n
\"Dogecoin
Dogecoin Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

The Dogecoin price dropped significantly in June before consolidating in mid-June to the beginning of July within the $0.12 range, according to data from <\/span>GeckoTerminal<\/span><\/a>. However, the bears won the struggle for dominance at this level as the token dropped, which then formed a complete inverse head and shoulders pattern.<\/span><\/p>\n

The DOGE price bulls seem to be capitalizing on the pattern to push the price over the neckline at $0.1275.<\/span><\/p>\n

DOGE trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), a signal that the token is aiming for a sustained bullish trend. Moreover, the 50-day SMA has finally crossed above the 200-day SMA, forming a golden cross at $0.1194, which is an indication that DOGE is on a bullish rally.<\/span><\/p>\n

The Relative Strength Index (RSI) also indicates that sellers have the upper hand, as the RSI soars over the 50-midline level and climbs up, closing in on the 70-overbought region, currently at 65.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) also shows that the price of Dogecoin is on a bullish trend, as it trades gracefully above the neutral line. With the green bars on the histogram also trading above the zero line, the DOGE price affirms the positive momentum in the market.<\/span><\/p>\n

Dogecoin Price Prediction<\/h2>\n

The Dogecoin price analysis on the 4-hour chart shows a strong bullish stance to the upside, as DOGE bulls capitalize on the inverse head and shoulders pattern to propel the token up, as the bulls target $0.17.<\/span><\/p>\n

However, with the RSI showing that the token is currently overvalued, sellers may soon take control of the price, which may push DOGE towards a price correction. In such a scenario, the price of Dogecoin could retrace back to the stable support at $0.12.<\/span><\/p>\n

Meanwhile, as the Dogecoin price aims for a bullish trend continuation, investors are also piling into a Shiba Inu derivative called <\/span>Shiba Shootout (SHIBASHOOT)<\/span><\/a>, which has amassed over $730k in its explosive presale.<\/span><\/p>\n

Shiba Shootout Presale Garners Over $730K – Best Meme Coin To Buy Now?<\/h2>\n

After the launch of the Shibarium blockchain, Shiba Inu is now pivoting towards gaming. But experts are betting on its new alternative, Shiba Shootout.<\/span><\/p>\n

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Saddle up! #ShibaShootout<\/a> is more than a #memecoin<\/a> it's a Wild West crypto adventure! 🐾💥<\/p>\n

Join Marshal Shiba & the Sharpshooters in Shiba Gulch for fun and excitement. 🤠🚀 pic.twitter.com\/a3BFVx7u42<\/a><\/p>\n

— shibashootout (@shibashootout) July 1, 2024<\/a><\/p><\/blockquote>\n