Price Analysis

Dogecoin on a Roll! Can DOGE Price Break $0.3 Level In Coming Days ?

Written by: Anjali Belgaumkar

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Aug 8, 2021

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Along with the entire crypto market, rising to its glory is the meme crypto Dogecoin. DOGE Price has been printing massive gains over the weekend. It has successfully rallied as high as $0.27 i.e 24% in just the last 24 hours.

Dogecoin’s breach of the $0.2 resistance on August 6th brought in a big buying frenzy, with bulls rallying to drive the price to its current high of $0.277. Following the surge, DOGE retraced back to $0.25. Currently, it is climbing back to the high as it trading at $0.264.

Here on, DOGE has to steer clear of the $0.24 pivot and climb up, the major resistance level is stationed at $0.282. In case of a surge above this level will bring the next resistance and $0.29 in the picture.

However, where prices are set in the medium term will be determined completely by the market’s dominating force at the time. An extended bullish rally will place the resistance further at $0.30.

If the price falls below the pivot at $0.2431, the first significant support level at $0.2229 will be tested. However, until there is a prolonged sell-off, Dogecoin should stay away from sub-$0.20 levels. $0.1836 is the second significant support level.

Doge Millionaire set to hodl more tokens

Glauber Contessoto, known as the Dogecoin millionaire, recently tweeted that he is considering buying more of the most famous meme cryptocurrency.

Contessoto bought $250,000 worth of Dogecoin in February and saw his investment swell to more than $2 million when the token rebounded in mid-April in response to Elon Musk’s remarks.

Even after the fall of Doge right after he has continued to stack on Doge. He has even quit his day job and is now on to his Dogecoin Youtube Channel.

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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