Dogecoin (DOGE) Technical Analysis 2021 for Crypto Traders

Dogecoin (DOGE) has been on a tear lately. As of today, Dogecoin is up nearly 28% in the past month, putting it on track for its best month since January 2017. That’s largely due to the fact that the Dogecoin community has been more active than ever, as many have been creating new Dogecoin apps and services to promote the coin. We’re also seeing a resurgence in the Dogecoin community’s involvement in charitable events.

DOGE is a cryptocurrency that has gained large amounts of interest from crypto traders due to its sudden price hike from just $0.001 to $0.0025 on December 14, 2017. Since then, DOGE price has fallen back to $0.0019. DOGE is a Proof of Work cryptocurrency based on the Dogecoin source code, and the last block was created approximately 9 months ago on December 18, 2017. The total number of coins that can be mined is relatively low at 10 billion, and the block reward is currently 25 DOGE per block. At the time of writing, DOGE has a market cap of $125,813,705 and a circulating supply of 45,700,

It is no secret that Bitcoin is the king of the crypto craze, but there is a new challenger on the block. The cryptocurrency that has gained the most attention and respect in the past year is Dogecoin (DOGE). Dogecoin is based on the original Bitcoin codebase, but it is a dog-themed coin that is much friendlier towards new users. Dogecoin has a larger block size, allows more transactions per minute, and has a more cheerful and optimistic community. Dogecoin has proven to be a great choice for traders, and it is now a top altcoin to watch. Luckily, Dogecoin is very simple to mine. Once you have downloaded the wallet, you can start mining dogecoins. Read more about dogecoin analysis 2021 and let us know what you think.

We utilize historical data, price trends, RSI, and other information about DOT to evaluate the cryptocurrency’s future behavior in 2021 Doge Technical Analysis. 

Dogecoin (DOGE) is a cryptocurrency that is based on the popular “doge” Internet joke and has a Shiba Inu as its logo. Furthermore, the open-source cryptocurrency was split from Litecoin in December 2013 by Billy Markus of Portland, Oregon, and Jackson Palmer of Sydney, Australia.

The Current State of Dogecoin’s Market

At the time of writing, the Dogecoin (DOGE) price is $0.34, with a 24-hour trading volume of $3,484,078,068, according to CoinGecko. DOGE, on the other hand, has dropped by 2.2 percent in the past 24 hours.

Furthermore, there are 129,776,492,184 DOGE in circulation. DOGE is available for purchase on Binance, Huobi Global, OKEx, CoinTiger, and ZG.com. 

Doge Technical Analysis 2021 

Dogecoin’s latest improvements and enhancements may propel it to new heights. Let’s take a closer look at the Dogecoin technical analysis for 2021. 

DOGE is now ranked seventh on CoinGecko. The monthly chart of Dogecoin (DOGE) is shown below.

Descending Triangle Pattern on the DOGE/USDT Price Chart (Source: TradingView)

DOGE’s Descending Triangle pattern is shown in the chart above. This bearish chart pattern is produced by drawing one trend line that links a sequence of lower highs and a horizontal second line that shows the series of lows. Furthermore, a collapse is conceivable in this scenario, prompting traders to take a short position and aggressively drive the asset’s price further down.

It is regarded a demand region between the price levels $0.15 and $0.2, as seen in the accompanying chart. Traders may purchase the currency at a cheap price at this time. The negative breakout region, according to the chart, is around $0.159; if the DOGE price hits that level, there is a good probability it will go below it.

The upward breakthrough area, on the other hand, is at $0.376. If the currency hits this level, there is a strong likelihood that the price will rise above it. Furthermore, large volume trading occurs on April 12-15 and May 17-26.

RSI, MACD, and MAX for DOGECOIN (DOGE)

DOGE’s Moving Average Convergence/Divergence (MACD) is shown in the chart below. The MACD (blue) remains slightly below the signal indication, which is noteworthy (orange line). As a result, cryptocurrency traders may anticipate more positive days in the future.

If the MACD starts to rise above the signal indication and executes a bullish crossing, on the other hand. The cryptocurrency then has a good chance of hitting fresh highs.

Dogecoin (DOGE) Technical Analysis 2021 for Crypto TradersMACD and DOGE RSI (Source: TradingView)

Let’s take a look at DOGE’s relative strength index (RSI). The RSI stays at 48, as seen in the graph above. This indicates that the price of DOGE is neither oversold nor overbought. This, on the other hand, provides dealers the confidence to trade without fear.

The chart below shows the Moving Average (MA) and Exponential Moving Average (EMA) for DOGE. Furthermore, MA is a kind of technical analysis that aids traders in identifying patterns. The exponential moving average (EMA) is a kind of moving average.

Dogecoin (DOGE) Technical Analysis 2021 for Crypto Traders30-day SMA and 50-day EMA in DOGE (Image courtesy of TradingView)

The DOGE price has clearly exhibited numerous bullish patterns since the beginning of 2021. Furthermore, if all of these factors are taken into consideration, DOGE may have a competitive market by 2021.

Conclusion

With the continuing improvements and enhancements to the DOGE platform. DOGE, a cryptocurrency, has a bright future in the crypto industry. DOGE, on the other hand, has the potential to reach unprecedented heights. The bullish price forecast for DOGE in 2021 is $64. As previously said, it has the potential to reach tremendous heights, even $100 if investors believe that DOGE is a smart investment in 2021.

FAQ

What exactly is Doge?

Dogecoin is a cryptocurrency created by software developers Billy Markus and Jackson Palmer with the intention of creating a payment system as a joke, mocking the craze for cryptocurrencies at the time.

Do you know where you can get DOGE?

Binance, Huobi Global, OKEx, CoinTiger, and ZG.com are just a few of the cryptocurrency exchanges that have DOGE listed. In which the cryptocurrency may be exchanged for fiat money, stablecoins, and other cryptocurrencies.

Is DOGE on the verge of a new all-time high?

The DOGE platform, with its continuing improvements and upgrades, has a good chance of achieving its ATH shortly.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

You’ve been recommended

Dogecoin (DOGE) is a cryptocurrency that was created on December 8th, 2013, as a joke, but it has evolved into a top-5 coin in the world today. The coin has a very low market cap, due to its low volatility, but it is fast growing in popularity, trading volume, and price.. Read more about dogecoin price prediction and let us know what you think.

Frequently Asked Questions

Does technical analysis work on Doge?

I am not sure about Doge, but it is possible to do technical analysis on any cryptocurrency.

Will Dogecoin reach $10?

I dont know.

Can Dogecoin be $100?

I am not a Dogecoin expert, but it is possible that the price of Dogecoin could go up to $100.

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