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<p><em><strong>Cryptocurrencies, led by Bitcoin’s surge past $71,000, are experiencing overall growth. Nonetheless, Dogecoin, the leading meme coin, indicates potential decline, with projections of a 40% loss. In light of these shifts, what are the current forecasts for Dogecoin?</strong></em></p><h2 id="header-0">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Cryptocurrencies are generally trending positively, with Bitcoin once again exceeding the expected $71,000 mark. However, there are concerns regarding the market’s <a href="https://cryptosheadlines.com/meme-coins-lead-in-first-quarter-gains/" rel="noopener noreferrer nofollow">leading meme coin</a>, which indicates a possible downturn, with prices potentially decreasing by approximately 40%. Amidst this scenario, what are the current <a href="https://cryptosheadlines.com/can-shiba-inu-beat-dogecoin-predictions-and-outlook-for-2024/" rel="noopener noreferrer nofollow">predictions for Dogecoin</a>?</p><h3 id="strong-dogecoin-outlook-amidst-market-uncertainty-strong"><strong>Dogecoin Outlook Amidst Market Uncertainty</strong></h3><p>The oldest and largest <a href="https://cryptosheadlines.com/okx-lists-wall-street-memes-coin-wsm-on-spot-market/" rel="noopener noreferrer nofollow">meme coin by market</a> value, DOGE, showed promising performance but struggled to surpass the $0.23 mark, facing losses alongside Bitcoin’s price fluctuations. Additionally, upcoming US inflation data expected on Wednesday adds to market uncertainty.</p><p>Over the past two months, the Federal Reserve hasn’t prioritized data seriously, but if inflation persists, there’s potential reconsideration for a 75 basis point annual reduction. The current cautiousness in the market is somewhat linked to the optimism bubble surrounding interest rates.</p><p>Despite signs of an uptrend in Dogecoin’s price on the 8-hour chart, a closer examination reveals an increasing risk of decline. Extended candlesticks are forming a bearish pattern. Furthermore, Dogecoin investors’ 30-day profit rate sits at 9.2%, historically triggering price corrections when the 30-day MVRV ratio ranges between 8% and 18%, potentially making bulls hesitant to maintain support levels.</p><h3 id="strong-assessing-dogecoin-s-potential-amidst-market-volatility-strong"><strong>Assessing Dogecoin’s Potential Amidst Market Volatility</strong></h3><p>Another critical aspect to consider is the percentage of investor profitability, which currently stands around 90%. Historically, when this figure approaches 95%, it often precedes price declines. At the time of writing, Dogecoin is priced at $0.206, showing a modest increase of 1.7% for the day.</p><h2 id="header-1">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p><a href="https://cryptosheadlines.com/dogecoin-price-falls-as-elon-musk-rejects-xai-fundraising/" rel="noopener noreferrer nofollow">Dogecoin’s price is currently confined within a falling</a> wedge pattern, typically indicating a downward trajectory. According to this pattern, the target for Dogecoin’s price could be approximately 40% below the current level, around the $0.127 area. However, if bulls successfully break through the resistance of this formation and close above it, bearish predictions might be invalidated, potentially leading to a surge above $0.22.</p><p><a href="https://cryptosheadlines.com/cardano-price-potential-repeating-2021-surge/" rel="noopener noreferrer nofollow">Also Read:   Cardano Price Potential: Repeating 2021 Surge</a></p><p>In an optimistic scenario, <a href="https://cryptosheadlines.com/dogecoin-price-surges-20-key-factors-behind-recent-jump/" rel="noopener noreferrer nofollow">Dogecoin’s price</a> could aim for levels around $0.24 and $0.27. Nevertheless, it’s essential to acknowledge the unpredictability of cryptocurrencies, reminding investors to exercise caution. At the time of writing, Bitcoin is priced at $71,664.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Dogecoin’s Outlook in Upbeat Crypto Market with Bitcoin Over $71000

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