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A crypto analyst has unveiled a bullish technical indicator for the popular doggy-themed meme coin, Dogecoin, predicting that the cryptocurrency could potentially outperform the world’s largest cryptocurrency, Bitcoin.
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Dogecoin could be heading toward an imminent sell-off that could tank its price as a significant tranche of coins is about to move into profit. In such a case, it would not be out of the ordinary to see a large number of investors sell off their holdings as they move to secure some profit.
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Crypto analyst Ali Martinez has provided a bullish narrative for the foremost meme coin, Dogecoin (DOGE). Based on his recent analysis, there is a likelihood that Dogecoin can hit $1 sooner rather than later.
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Dogecoin has been in a bearish sentiment among investors in the past week that even a tweet from Elon Musk referencing the cryptocurrency earlier in the week failed to do much to cause a price reversal.
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Cardano has been struggling in the market over the last few weeks, completely erasing its gains from March. This continuous decline has put the digital asset in a perilous position as it has dropped drastically on the list of the top 10 cryptocurrencies by market cap.
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Dogecoin is grabbing headlines and speculation from its wide community of investors after a recent whale accumulation from a crypto exchange.
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Dogecoin and XRP have seen varying performances over the last few weeks, going from bullish to bearish.
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Technical analysis shows that Dogecoin (DOGE) may be set for an upside move after dropping to a major support level. This and other imminent bullish developments in the meme coin’s ecosystem suggest it may be the right time to invest in the crypto token.
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Dogecoin has extended its seven-day losses into the past 24 hours but some holders continue to remain strong. On-chain data has revealed that even though Dogecoin’s value has plummeted by 21% in the last seven days, many long-term holders of the meme coin are still turning a decent profit.
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Dogecoin is once again in the spotlight with speculation that DOGE payments are coming to X (formerly Twitter) as the platform looks to charge users a fee to post and interact on the platform.
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Key Dogecoin (DOGE) on-chain metrics recently turned bullish, suggesting that the foremost meme coin is well primed for a significant move to the upside. However, that hasn’t been the case, as Dogecoin’s price has declined lately.
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Toncoin (TON) and Dogwifhat (WIF) are in the spotlight, having emerged as the best-performing altcoins since the start of the year ahead of other performing altcoins like Dogecoin (DOGE) and Shiba Inu (SHIB).
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The Dogecoin price has continued to trend around the $0.19-$0.2 level after encountering significant resistance from the bears at this level. This has caused a suppressed price action over the last week, stopping the meme coin’s advancement in its tracks.
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