What The 50-Day Moving Average At $0.22 Says About The Dogecoin Price

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Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	57,882,856,044	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

57,882,856,044

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00823	2.12%	0.39561	0.39548	0.39549

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00823

2.12%

0.39561

0.39548

0.39549

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.39702	0.38002	0.38493	0.38738	0.074194 - 0.480780

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.39702

0.38002

0.38493

0.38738

0.074194 - 0.480780

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:46:09	287.10	0.39561	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:46:09

287.10

0.39561

USD

Price x Volume	Volume	Base Symbol	Related Pairs
73,585,857.03	188,871,497.22	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

73,585,857.03

188,871,497.22

What The 50-Day Moving Average At $0.22 Says About The Dogecoin Price

26/11/2024 9:00pm

NEWSBTC

The Dogecoin price has been gearing up for a major bull rally since it rose to the $0.4 threshold and began testing this resistance. Shedding light on Dogecoin’s future bullish trajectory, a crypto analyst has discussed the importance of the $0.22 50-day Moving Average (MA) in determining the Dogecoin price movements in this bull cycle. How The 50-Day MA Impacts The Dogecoin Price Rally The 50-day MA is a technical indicator that highlights a cryptocurrency’s average price over the last 50 trading days. It is primarily used to identify price trends, determine resistance and support levels, and generate buy and sell signals. Related Reading: Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good Kevin, a crypto analyst on X (formerly Twitter), has underscored the significance of this critical technical indicator in the recent Dogecoin price movements and its influence on the meme coin’s future bull rally. The analyst disclosed that historically, during Dogecoin’s previous bull markets, its price consistently stayed above the 50-day MA, never losing this crucial threshold despite testing it multiple times. Typically, staying above the 50-day MA is seen as a bullish indicator, while consistently dropping below this average suggests a downtrend. Presenting a detailed chart of Dogecoin’s price action in the last bull cycle in late 2020 to date, Kevin disclosed that the current 50-day MA for the meme coin is at $0.22. However, this price threshold is rising quickly as Dogecoin closes each daily candle. Additionally, the rapid increase suggests that if Dogecoin can remain steady around or above the 50-day MA, its price should see a significant bullish trend continuation, providing a strong foundation for even higher prices. Dogecoin Enters Distribution Phase, $9.5 Target In Sight In a different X post, Trader Tardigrade, a prominent crypto market expert, declared that Dogecoin has officially entered the Distribution phase in the classic Power of Three (PO3) market cycle. The PO3 cycle is a popular concept in technical analysis used to identify key market phases — Accumulation, Distribution, and Manipulation. Related Reading: Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily With Dogecoin now firmly in the Distribution phase, large holders may be offloading their assets, potentially locking in profits following DOGE’s recent price increase. While the distribution phase could be seen as the end of a bull rally characterized by sell-offs and slow momentum, Trader Tardigrade believes that this phase could be calm before a massive price surge. The analyst shared two price charts comparing Dogecoin’s movements during the bull cycle between 2016 and 2017 and its future price action in 2024 and 2025. In the 2017 bull market, Dogecoin entered a distribution phase, which led to a significant bull rally to new levels above $0.00066. If this trend holds true for Dogecoin’s current distribution phase, Trader Tardigrade has predicted that its price could surge as high as $9.5 from its current value of $0.4. Featured image created with Dall.E, chart from Tradingview.com

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DOGEUSD Dogecoin