Dogecoin Forecast: Can the Price Go Up Again?
The price structure of Dogecoin slipped below key support areas to 0.22500. If this continues, investors can expect a sale of DOGE until it finds a stable support zone. Ritz Edelman, a founder of Edelman Financial Engines, spoke with Yahoo Finance Live about cryptocurrencies. He said investors should pay more attention to Bitcoin and Ethereum but added that investors should ignore Dogecoin. Alluding that it is nothing but jokes and deceptions, and it is “something that ends very badly.
On the other hand, Dogecoin millionaire Glauber Contessoto stated that he would receive his payments in Dogecoin. Posting it on a tweet on July 6 confirming the same.
Contessoto invested approximately $ 250,000 in a meme coin of approximately $ 0.045 on February 5 and has not yet sold his fund. He increased his holdings by accepting Dogecoin crypto as payment, and his portfolio is currently worth about $ 931,000. He said he would not book a profit soon.
The price of dogecoin fell below the support to $ 0.229 yesterday, July 7, and broke $ 0.216. Although DOGE has recovered above $ 0.216, it could continue to fall as the price of Bitcoin goes through a correction. If sales pressure continues to rise, Dogecoin is likely to produce a decisive four-hour candlestick close to $ 0.216.
In some cases, DOGE can mark $ 0.18000, a key support point. Although things seem gloomy about the price of Dogecoin, market participants must understand that these coins are driven by euphoria. Therefore, a sudden increase in social activity could trigger an upward trend without considering the bearish outlook described above.
The price of dogecoin could trigger such a bullish move after retreating above to $ 0.18000 or prematurely on the current consolidation to current positions, $ 0.21260. If this move breaks the resistance level of 0.25000 dollars, it could disable the bear’s thesis and start Dogecoin at 0.29000 dollars.
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