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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrencies-maintain-positive-trend-as-bitcoin-surpasses-71000/" data-wpel-link="internal">Cryptocurrencies Maintain Positive Trend as Bitcoin Surpasses $71,000</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrencies</strong> are maintaining a positive trend, and <a href="https://coin-turk.com/5-bin-dolari-38-7-milyon-dolar-olan-satoshi-donemi-bitcoin-cuzdani-11-5-yil-sonra-harekete-gecti" data-wpel-link="internal">Bitcoin</a> has once again surpassed the anticipated $71,000 threshold. However, not everything is rosy. The market’s largest meme coin by value is showing clear signs of a potential downturn, with prices possibly dropping by about 40%. So what are the current forecasts for <a href="https://coin-turk.com/guncel-altcoin-analizi-dogecoin-grafik-analizi-ve-onemli-seviyeler" data-wpel-link="internal">Dogecoin</a>?</p> 
<h2 style="text-align: justify" id="dogecoin-doge">Dogecoin (DOGE)</h2> 
<p style="text-align: justify">The oldest and largest meme coin by market value, <strong><a href="https://coin-turk.com/dogecoinde-doge-balinalar-uyandi-pes-pese-devasa-islemler" data-wpel-link="internal">DOGE</a></strong>, was outperforming for a while but failed to surpass $0.23. Losses were triggered alongside <a href="https://en.coin-turk.com/bitcoin-climbs-investors-eye-next-moves/" data-wpel-link="internal">Bitcoin</a>‘s price fluctuations. Moreover, the upcoming US inflation data on Wednesday could yield unexpected results.</p> 
<p style="text-align: justify">For the past two months, the Federal Reserve has not taken data too seriously, but if inflation does not decrease again, the scenario of a 75 basis point annual reduction could be reconsidered. The current lack of appetite is somewhat linked to the optimism bubble in interest rates being popped.</p> 
<p style="text-align: justify">Although <a href="https://en.coin-turk.com/dogecoin-captures-attention-with-a-massive-whale-transaction/" data-wpel-link="internal">Dogecoin</a>‘s price shows signs of an uptrend in the 8-hour chart, a closer look reveals an increasing risk of decline. Extended candlesticks are creating a bearish formation. Furthermore, Dogecoin investors’ 30-day profit rate is at 9.2%, and historically, a 30-day MVRV ratio between 8% and 18% has triggered price corrections, which may make bulls reluctant to maintain support levels.</p> 
<h2 style="text-align: justify" id="doge-price-predictions">DOGE Price Predictions</h2> 
<p style="text-align: justify">Another significant detail on the downside is the percentage of investor profitability, which is currently around 90% and typically leads to price declines when it approaches 95%. The price of <strong>Dogecoin</strong> is at $0.206 at the time of writing this article and is continuing the day with a 1.7% increase.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-338866 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/DOGE-dusus-tahminleri.png" alt="" width="1199" height="491"></p> 
<p style="text-align: justify">The <a href="https://en.coin-turk.com/dogecoin-shows-potential-for-significant-price-increase-in-foreseeable-future/" data-wpel-link="internal">DOGE</a> price is trapped within a falling wedge, a formation that typically results in a downward movement. According to this pattern, the target for Dogecoin’s price could be around 40% below the current level, at the $0.127 area. However, if bulls manage to break through the formation’s resistance and achieve a close above it, the bearish predictions could be invalidated, potentially reaching above $0.22.</p> 
<p style="text-align: justify">In an optimistic scenario, the price has the potential to test the $0.24 and $0.27 levels. Of course, no one can predict the future, and the unpredictable nature of cryptocurrencies reminds investors to always be cautious. The price of Bitcoin at the time this article was prepared is $71,664.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cryptocurrencies-maintain-positive-trend-as-bitcoin-surpasses-71000/" data-wpel-link="internal">Cryptocurrencies Maintain Positive Trend as Bitcoin Surpasses $71,000</a></h5>

Cryptocurrencies Maintain Positive Trend as Bitcoin Surpasses $71,000

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