Is it Possible for DOGE to Reach $0.1 in the Upcoming Weeks? A Dogecoin Price Forecast

Is it Possible for DOGE to Reach $0.1 in the Upcoming Weeks? A Dogecoin Price Forecast

Dogecoin (DOGE) Price Movements and Trading Volumes

In the last week, Dogecoin (DOGE) has experienced a slight gain of 0.7%. Nonetheless, in the previous day, the Meme Coin coin has seen a decrease of 0.1% in value. The lack of whole lot of price movements can be attributed to low trading volumes. DOGE’s trading volumes have dropped by around 18% to $138 Million in the previous day, indicating a bearish sentiment between investors.

Weak Bullish Signal for DOGE

Dogecoin (DOGE) has repeatedly bounced off the level of support of $0.0621, which has attracted buyers. If more buyers accumulate at these levels, there is a likelihood of a slight gain to $0.0625. Nonetheless, if the price falls below $0.0616, selling pressure may increase, leading to a plunge to the September 11 level of $0.0597. The low trading volumes reflect the indecisiveness between buyers and sellers as they wait for the price to reach these critical levels.

Death Cross and Indicators

The price trend of Dogecoin (DOGE) shows a formation of a death cross, with the 50-day simple moving average (SMA) crossing below the 100-day SMA. Despite the fact that this pattern may appear concerning, it is frequently followed by a short-term rebound. The Moving Average Intersection Divergence (MACD) line implies that bears as of now have control, but the green histogram bars indicate a probable upcoming rebound. The Relative Strength Index (RSI) at 39 points towards selling activity, with both buyers and sellers refraining from making trades.

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Impact of Weak Community Engagement

The lack of engagement from influential figures in the Dogecoin (DOGE) community, such as Elon Musk, has contributed to the stagnation of Dogecoin (DOGE). Typically, Dogecoin (DOGE) experiences rallies after mentions by Musk, but his recent silence has influenced its performance. Furthermore, the founder of Dogecoin (DOGE), Billy Markus, recently referred to the Dogecoin (DOGE) community as “dead.” Meme Coin coins heavily rely on community engagement for momentum, and this lack of activity has hindered DOGE’s growth.

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BitcoinBSC Presale Success and Features

The BitcoinBSC presale has been highly successful in the cryptocurrency space, raising over $2.5 Million in just two weeks since its launch. The presale is expected to reach its soft cap of $3.96 Million soon due to the high demand from early investors. BitcoinBSC draws inspiration from Bitcoin (BTC) and is built on the more sustainable BNB Chain. It likewise offers a stake-to-earn model, with over $1 Million already staked and an APY of 260%.

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BitcoinBSC Tokenomics

BitcoinBSC has a capped supply of 21 Million coins, with 29% available during the presale. The bulk of tokens (69%) will be allocated to staking rewards, while 2% will be dedicated to exchange liquidity.

Hot Take: DOGE’s Stagnation and BitcoinBSC’s Success

The lack of whole lot of price movements and weak community engagement have contributed to the stagnation of Dogecoin (DOGE). On the other hand, BitcoinBSC’s presale has been incredibly successful, raising millions of dollars in a short period. The project’s features and tokenomics have attracted investors looking for probable returns through staking. It will be interesting to see how these contrasting trends continue to unfold in the cryptocurrency market.

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Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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