Think Dogecoin Has Topped Out? Two Factors That Say ‘No Way’

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,092,732,209,684	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,092,732,209,684

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,955.17	1.88%	105,919.79	105,915.61	105,928.31

Price Change

Price Change %

Current Price

Bid Price

Offer

1,955.17

1.88%

105,919.79

105,915.61

105,928.31

High Price	Low Price	Open Price	Prev. Close	52 Week Range
106,333.00	102,751.92	103,835.33	103,964.62	39,382.15 - 109,356.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

106,333.00

102,751.92

103,835.33

103,964.62

39,382.15 - 109,356.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:59:06	0.001115	105,894.55	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:59:06

0.001115

105,894.55

USD

Price x Volume	Volume	Base Symbol	Related Pairs
679,143,550.00	6,479.92	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

679,143,550.00

6,479.92

Think Dogecoin Has Topped Out? Two Factors That Say ‘No Way’

24/01/2025 7:45am

NEWSBTC

In an analysis provided by crypto analyst Kevin (@Kev_Capital_TA), Dogecoin (DOGE) emerges as an altcoin defying current market skepticism, with technical indicators suggesting a bullish continuation rather than a peak. Dogecoin Is Still Bullish Kevin’s latest post on X highlights Dogecoin’s performance against its 50 and 200-day simple moving averages (SMA). “Dogecoin is still seeing fast expansion on the 50 and 200 simple moving averages after its weekly golden cross occurred,” he noted. This golden cross, a bullish indicator where the 50-day SMA crosses above the 200-day SMA, suggests sustained upward momentum. Related Reading: Dogecoin ETFs Will Skyrocket Price To $15, Forecasts Analyst Further examining the Fibonacci retracement levels, Kevin pointed out that Dogecoin is “above the macro golden pocket at .26 cents and is battling the macro .786.” The ‘golden pocket’—typically located between the 0.618 and 0.65 Fibonacci levels—is often considered a crucial support zone. Kevin argues that maintaining a price above this level is bullish. “If you think this chart is bearish in its current spot then you need some help. Not gonna focus on individual altcoins very much because BTC will determine the next move in the market no matter what your altcoin chart looks like but needed to remind people who are bad mouthing how crazy they look when we’re at the same price we were at in November when the market was rallying hard. Nothing has changed and cycle tops don’t occur when everyone is bearish,” Kevin expounded. Kevin further illustrated the erratic nature of crypto market sentiment, contrasting reactions from November and January. “When Dogecoin was hitting .35 cents in November, everyone was screaming to the hills that they were so bullish. DOGE at .35 cents in January, everyone is screaming that Doge sucks, I should have sold this thing a long time ago. Do you see how market psychology works? Pretty interesting,” he detailed. Bitcoin Needs To Move First Kevin also discussed Bitcoin’s influence on the broader crypto market, emphasizing its role as a leading indicator for altcoins like Dogecoin. He labeled yesterday’s market reaction to the crypto executive order by US President Donald Trump as a non-impactful in the long run. Related Reading: Dogecoin ETF Filing Takes Market By Storm, Can Positive Sentiment Trigger 200% Rise To $1 ATH? “BTC time and time again has failed to break the 1.703 FIB at 106.8K. Even though we broke out of this bullish falling channel on the daily time frame, we have failed to see any real money flow come into the asset if anything it has been decreasing over the last 48 hours. The Trump executive order was an obvious buy the rumor, sell the news event like all events are, so to me, that was always a nothing burger,” he elaborated. Despite these challenges, Kevin remains optimistic about Bitcoin’s potential for recovery. “I still think we’re experiencing seasonality in BTC as January’s are always really bad months, especially in the post halving year. I believe the goal should be to demoralize and anger as many investors as possible before starting the next leg higher, which should come within the next 1-3 weeks. Stay tuned!” he predicts. At press time, DOGE traded at $0.35. Featured image created with DALL.E, chart from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin