Bullish Breakout! Dogecoin Price Prediction For August 2024

On August 24, 2024, Dogecoin (DOGE), the world’s largest meme coin, gained huge consideration from buyers and merchants after the consolidation outbreak. Over the previous 18 days, DOGE has moved inside a slim vary between $0.094 and $0.108.

Bullish breakout in Dogecoin

Nonetheless, as a result of attainable announcement of a fee minimize by Jerome Powell, the sector skilled a major breakout.

DOGE Value Prediction

With this breakout, DOGE’s outlook has turned bullish regardless of buying and selling under the 200 Exponential Shifting Common (EMA) on a every day time-frame. In keeping with professional technical evaluation, there’s a good likelihood that DOGE might rise by greater than 15% to the $0.13 degree and even larger within the coming days.

Nonetheless, one other crypto expert posted a message on That is similar to phases one and two. Furthermore, when this consolidation takes place on the trendline, DOGE worth tends to skyrocket considerably, and this time DOGE might rise to the $2 or $4.5 degree.

DOGE’s Rising Open Curiosity and Value Evaluation

On the time of writing, DOGE is buying and selling round $0.113 and has skilled a worth improve of over 8% within the final 24 hours. In the meantime, buying and selling quantity is up 70% over the identical interval, indicating larger dealer participation as a result of latest breakout and Powell’s Fed Charge Cute announcement.

Whereas DOGE’s open curiosity has additionally elevated by 9% over the previous 24 hours and continues to rise, in response to on-chain analytics agency CoinGlass. This improve in open curiosity signifies rising curiosity from merchants and buyers.

Excluding DOGE, the general cryptocurrency panorama is up 4.6% up to now 24 hours. Nonetheless, prime property together with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA) have skilled notable worth appreciation of over 5.6%, 5.3%, 5%, and 5% respectively within the latest years. final 24 hours.