February 24, 2024

Dogecoin (DOGE) price has been on an uptrend since October 19. Before then, this biggest meme coin by market cap was consolidating between $0.059 and $0.060. 

This pump has awakened Dogecoin’s investors, who lost interest in the coin. This is evident in the data from IntoTheBlock, which prominent crypto analyst Ali Martinez reported.

The recent surge in Dogecoin’s price seems to have brought back some excitement among its community. Due to this excitement, the investors have been able to hold the price above $0.074 for the past few days.

But what’s their next move, and how long will they continue to keep the price of Dogecoin from falling?

How’s Dogecoin Doing Lately?

For the past few days, Dogecoin’s chart is showing interesting performance. Following the recent bullish sentiment in the crypto market, the DOGE breakout reached a high of 0.07 on October 26. But, the market still went down after some individuals sold off to make a profit. 

This slight drop resulted in DOGE ranging with a primary resistance of $0.0704 and support at $0.0678 for the rest of October. However, the start of November comes with bullish momentum as DOGE breaks from the primary resistance. 

On November 10, DOGE reached a high of $0.81. This represents a growth of more than 19% from its previous low of $0.0678. Presently, looking at the chart, Dogecoin is trying to form the same pattern it displayed in late October. 

Meanwhile, according to CoinGecko, DOGE is trading at $0.077 with a large volume of $942 million. In the last seven and fourteen days, DOGE has increased by 8% and 12%, respectively.

Even in the past 30 days, the meme coin has gained by more than 30%. Unfortunately, Dogecoin has lost some of these gains by 1.8% in the last 24 hours. 

Generally, this implies even though the coin has been down in the past 24 hours, it’s still bullish in the longer timeframes. Also, it shows that the bears or sellers are trying to dominate the market.

But, since the price has stabilized above $0.074, it might be hard for the bears to send it down.

Dogecoin Price Analysis: Is DOGE Eyeing $0.1 Price Mark Next?

The daily chart above shows that the meme coin might next hit the $0.09 level. This is based on what happened in late October when the price surged to a high of $0.075 but later dropped back. 

In early November, DOGE’s price increased again, this time reaching above $0.08. According to the chart, the coin dropped to its current value of $0.077. If the previous price action repeats again, the coin may grow significantly by 30% to $0.1.

Also, the Simple Moving Average (SMA) is below the market. This validates the bullish sentiment in the market. Further, its MACD is above the signal line with green histogram bars.

The Relative Strength Index (RSI) is currently at 65, highlighting the power of the bulls.

This means that despite the bearish trend in the past 24 hours, the market is dominated by buyers. However, investors should apply proper risk management before entering the market. This is because the crypto market is highly volatile.

Dogecoin Market Sentiment Enters Green Zone

In the early hours of today, Dogecoin Fear and Greed index increased to 70. This suggests that there’s a high level of optimism and confidence in the market. 

Investors are leaning more towards the “greed” side, indicating increased enthusiasm and a stronger belief in positive market conditions.

Further, it implies that there might be a certain level of excitement, and investors could be willing to take more risks. This could push the price of DOGE to reach a new high.

Dogecoin Alternative: Bitcoin Minetrix 

As the crypto market surged this past week, investors are flooding Bitcoin Minetrix for huge returns. Due to this, the coin has been able to raise more than $3.9 million in a few weeks.

Looking at how the investors are rushing the native token $BTCMTX, the presale may end fast. Before this presale event ends, there are some reasons why you shouldn’t miss out.

Remember that stage 6 of this presale just ended, and stage 7 has started. Also, the token’s price is currently at $0.0116, which was $0.0115. Already, early investors are gaining by 10%.

Stake-to-Mine BTC Mining is the Next Big Thing

Considering how the presale is going and the features of Bitcoin Minetrix, the coin could be a strong contender. The project launched a tokenized cloud mining platform. This platform will make the mining of tokens very easy and less expensive.

This will make it possible for almost everyone to participate in mining.

Also, through 100% decentralization, the platform aims to enhance security, transparency, and trust. The previous style of mining Bitcoin is highly expensive for an average person to participate in.

But, with this project’s features and vision, anyone can engage in mining.

The only requirement to participate is to have an Ethereum-compatible wallet like Trust Wallet or MetaMask. This project gives you a safe and easy way to do things. It doesn’t cost much, and getting started is simple. 

First, you get some $BTCMTX tokens, then you pick the buy-and-stake option, and finally, you earn Bitcoin payouts. 

Further, the project has a well-designed roadmap that outlines numerous profitable plans. After this presale, they plan on listing on prominent trading exchanges, possibly pushing the price up.

Based on these features, many investors have been hopeful, thinking it might return 10x their investment.

Right now, the token can be obtained through USDT, ETH, BNB, or Card, and there are only 3 days remaining for this stage to be over. Interestingly, the project has started its Gleam competition.

The team promises to give a prize pool of $30,000 among 10 participants in this competition. 

The requirement for this competition is just to complete simple tasks like following Bitcoin Minetrix on Twitter and engaging. This is another means for investors to earn from this innovative project without stress. Therefore, rush to the project’s site now and buy the token.

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