Dogecoin Price Forms Bullish Patterns Ahead of the American Election-web3.0-php.cn

Home

web3.0

Dogecoin Price Forms Bullish Patterns Ahead of the American Election

Susan Sarandon

Nov 05, 2024 pm 09:28 PM

Dogecoin Price Prediction DOGE Surge 35%

Dogecoin price held quite steady on Tuesday as it formed several bullish chart patterns ahead of the American election. DOGE token spiked to a high of $0.1700

Dogecoin Price Forms Bullish Patterns Ahead of the American Election

Dogecoin (DOGE/USD) price held quite steady on Tuesday. The meme coin formed several bullish chart patterns as it rose to $0.1700. This price was the highest since Thursday last week and a few points lower than the highest level this month.

Dogecoin price bullish patterns

A look at the daily chart shows that Dogecoin, the biggest meme coin, formed several bullish patterns that are pointing to more gains to come in the coming months.

First, the chart shows that the coin formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. A golden cross is one of the biggest bullish signs that we have in the market.

Second, DOGE also formed a hammer candlestick pattern. This pattern is characterized by a big red body and a long shadow. A hammer is also a popular reversal pattern that is followed by a strong rebound.

Third, and most important, Dogecoin formed a cup and handle pattern, which is made up of a rounded bottom and some consolidation at the top. It is now at the handle section of this pattern.

Dogecoin also moved to the strong pivot reverse pattern of the Murrey Math Lines. It also jumped above the Ichimoku cloud. As a result, these patterns are pointing to a potential DOGE price rally in the coming days. If this happens, we expect it to rally to the next point at $0.2290, the highest level this year, which is also 35% above the current level.

DOGE token’s potential catalysts

The biggest potential catalysts for the DOGE price today will be the election in the United States where Donald Trump and Kamala Harris are competing.

Data by Polymarket shows that Trump has widened his lead once again. He now leads at 62% compared to Harris’ 38%.

A Trump victory matters for Dogecoin because Elon Musk is its biggest high-profile supporter who has even made it possible for people to buy Tesla’s accessories using the coin.

Trump has also pledged to be a more crypto-friendly president. Further, he has mentioned Musk as a potential candidate to lead the Department of Government Efficiency, which will be tasked with cutting the government’s costs and boosting its efficiency.

Therefore, if Trump wins, the hype that will follow will be able to push the Dogecoin price substantially higher than where it is today. However, there is still a risk that Trump will not win. If this happens, we will likely see a substantial sell-off in the coin.

The other risk is that traders who bought the coin because of the election hype will start to sell, in a process that is known as buy the rumour, sell the news.

The above is the detailed content of Dogecoin Price Forms Bullish Patterns Ahead of the American Election. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Trend Research Analysis: ETH optimistic forecast is $10,000 in the new cycleMay 14, 2025 pm 10:51 PM

Since the entire research report was released on April 24, 2025, TrendResearch has risen from US$1,800 to around US$2,400, with an increase of about 30% in one month. The prediction before the research report was written was even more than US$1,450. As an asset target of a scale of 100 billion, it is a rare opportunity for large funds to achieve high returns in the short term. The main reasons for firmly bullish at that time include: ETH still has stable financial data, and its status as an important infrastructure for encryption has not changed; the short-term high has been greatly adjusted (the decline of more than 60% in four months); the derivatives market has a huge short position, and the bottom spot has risen to an important support and resistance swap area after increasing volume, which is traditional financial

What is Sign Protocol (SIGN)? Guide to getting started with cross-chain verification networksMay 14, 2025 pm 10:48 PM

Blockchain technology continues to change the way people exchange value, verify information and build trust online. As decentralized applications flourish in various industries, the ability to confirm statements and identities across multiple blockchains has become increasingly important and complex. Traditional trust models that rely on centralized authority are often insufficient to support a decentralized ecosystem, so the demand for blockchain native verification solutions is also growing. SignProtocol (SIGN) addresses this challenge by providing a framework for creating, verifying, and managing proofs across multiple blockchain networks. SignProtocol aims to create a full chain

Bitget announces VOXEL transaction rollback! The user will be compensated for the lossMay 14, 2025 pm 10:45 PM

Cryptocurrency exchange Bitget recently announced that it will roll back transactions during this period due to abnormal trading fluctuations in the VOXEL contract market and propose compensation plans. However, the use of the statement "user manipulates the market" in the official announcement has caused doubts about its improper handling of public relations, fearing that this will lead to further expansion of the crisis. The abnormal trading of BitgetVOXEL tokens has caused internal market making concerns between 8:00 and 8:30 am yesterday Beijing time, an abnormal trading event of VOXEL tokens broke out on the Bitget Exchange. The trading volume during this period even exceeded Bitcoin for a time, causing the market to question the transparency of its internal operations. After the incident occurred due to the violent fluctuation of VOXEL token prices, the community began to question the possibility of Bitget

What is KuCoin Exchange? KuCoin novice account registration teaching and security analysisMay 14, 2025 pm 10:42 PM

What is the KuCoin Exchange? KuCoin Exchange Background KuCoin Exchange Brand Story Is KuCoin Exchange safe? The first step in KuCoin account registration teaching: Register a KuCoin account step in the second step: Complete the third step of identity verification: Start two-step verification and add-on screening: KuCoin's unique GemSPACE summary KuCoin is the top 15 cryptocurrency exchanges in the world. It uses the trading platform of the whole nation as the concept, providing a safe and convenient trading experience. This article will provide you with an in-depth look at the background, security, account opening process and how to leverage KuCoin's unique Ge

What is ALPACA currency? After Binance was removed, the price of the coin soared. What is the future prospect of $ALPACA?May 14, 2025 pm 10:39 PM

Catalog ALPACA Coin Latest News and Price Updates What is AlpacaFinance (ALPACA)? How does AlpacaFinance work? What is ALPACA currency? ALPACA Token Economics ALPACA Price Trend Analysis 2025 ALPACA Price Forecast AlpacaFinance (ALPACA) Future Outlook How to buy ALPACA Coin? Summary AlpacaFinance (ALPACA) is a lending protocol on Binance Smart Chain, with the characteristics of leveraged income agriculture. Since Binance announced that it will be removed from AL on May 2

Arthur Hayes analysis: Now may be the last chance to get on the car for Bitcoins under $100,000May 14, 2025 pm 10:36 PM

Arthur Hayes, the founder of BitMex, who we are familiar with, once again made a statement on the market! This time he said on the X platform: "Seriously, relatives, now may be your last chance to buy Bitcoin below 100,000 yuan." In the Bitcoin rise in the past 30 hours, Arthur Hayes posted: "Just like the Easter Bunny, the price of $BTC will jump five times in a row!" Hayes also revealed that he will release a new article this week, with the theme of "BBCBazooka" and Treasury bond repurchase. ArthurHayes has been predicting a price decline after the price of Bitcoin fell to within 90,000 yuan, but now it has turned bullish. Looking back on his predictions for Bitcoin over the past few months, although specific numbers may

Cardano (ADA) 2025–2028 10x potential analysis: The path to revaluation of smart contract platformsMay 14, 2025 pm 10:33 PM

Cardano (ADA) 10x potential analysis for 2025–2028: The path to revaluation of value of smart contract platforms The current ADA price is about $0.778. If 10x growth is achieved, the potential price in the future will reach $7.78 and the market value is about $270 billion. This prediction is not a fantasy, but is based on Cardano's strong potential driven by multiple factors such as technological innovation, ecological expansion and market demand. 1. Technology Progress: The Combination of Smart Contracts and Zero Knowledge Proof Since Vasil upgraded, Cardano's smart contract platform Plutu

What currency is SWCH? Is it worth investing? Detailed tutorial on purchasing SWCH coinsMay 14, 2025 pm 10:30 PM

Cryptocurrency market projects have emerged with the development of blockchain, with the purpose of changing traditional financial practices, and SwissCheese is one of them. It is understood that SwissCheese is a decentralized platform that allows users to trade tokenized stocks, aiming to enhance market access and reduce transaction costs, paving the way for a more inclusive financial environment. The native token of the platform is SWCH, and its main functions are transactions, governance, etc. The project immediately attracted investors' attention after it went online, but only know what currency is SWCH? Can't we analyze that SWCH is worth investing in? Based on the current data, SWCH has a certain