Arbitrum

Bitcoin

Dogecoin

Layer3

Omni

<div class="finbold">
 <p class="paragraph">The protracted – and significant – crypto bull market, started in earnest in October 2023 with a major Bitcoin (BTC) rally, has already seen multiple meme coins, old and new, surge to new highs or, at least, strive to reclaim their previous highs.</p>
 <p class="paragraph">The climate brought forth a string of predictions that Dogecoin (DOGE), the oldest meme coin in existence, is about to rise toward and beyond $1.</p>
 <p class="paragraph">One crypto expert, known as <em>Credible Crypto</em> on YouTube and <em>CrediBULL Crypto</em> on X, only partially agrees with the bullish expectations and has, in fact, recently shared his strategy for shorting DOGE.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Ripple v. SEC court case update as of April 23, 2024 <span class="self-center text-xs text-slate-500">19 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    DODOchain pioneers an Omni Trading Layer3 blockchain fueled by Arbitrum and AltLayer <span class="self-center text-xs text-slate-500">19 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    When is the next Bitcoin halving? <span class="self-center text-xs text-slate-500">19 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Has a 1% tax on Bitcoin holders been proposed by a U.S. Senator? <span class="self-center text-xs text-slate-500">20 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Indeed, the expert believes that Dogecoin is yet to prove an uptrend with more sequential higher highs and higher lows and that it currently finds itself in a distribution top.</p>
 <p class="paragraph">According to Credible Crypto’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, DOGE price is likely to continue trading higher for some time before it enters the $0.19-0.20 range, which it will, in all likelihood, fail to sustain and break above.&nbsp;</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/UbIFPsJZd5NHpuOnLY3N5a8_1cEJgmLZuUcUgE-i7vaqHrcKpC-O1p2kr753rK33cFWq3Yo0W_HujNphgK4Wa1W8Im4oHjvprvY7j7vMQaBl_1QHj0G6MAuKzTiDiAePdvCbotzad0wEtI7fmMbpYmE" alt>
  <figcaption class="wp-element-caption">
   Possible DOGE trajectory into the ‘short zone.’ Source: @CredibleCrypto
  </figcaption>
 </figure>
 <p class="paragraph">The analyst explained that they would take a short position once the meme coin is within this range as a drop to one of the crucial support levels and at least to the $0.09-$0.10 range, but even more likely to head toward or below $0.05.</p>
 <h2 class="wp-block-heading" id="h-short-term-bear-long-term-bull">Short-term bear, long-term bull</h2>
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of Dogecoin’s likely next move partially hinges on the general trends in the crypto market, which have recently seen a significant pullback for Bitcoin and an even greater correction for other cryptocurrencies.</p>
 <p class="paragraph">Following from this, <em>Credible Crypto</em> estimates that the market is not yet in a major ‘meme cycle’ but rather that it shall have to go through the motions with the subsequent phases being ‘Bitcoin,’ ‘large caps,’ ‘mid-caps,’ and ‘small caps.’</p>
 <p class="paragraph">The expert, however, believes that a ‘meme coin megafinale’ will come at the tail end of the sequence and that a Dogecoin surge above $1 will be a crucial part of this phase. As a result, they have identified the likely fall to $0.05 as a good area to enter a long position after, hopefully, successfully shorting the meme coin.</p>
 <h2 class="wp-block-heading" id="h-doge-price-chart">DOGE price chart</h2>
 <p class="paragraph">With conflated outlooks, whether DOGE drops toward $0.05 or surges toward $1 first, its recent performance has both been strong and choppy.&nbsp;</p>
 <p class="paragraph">With that being said, in the last 52 weeks, the meme coin has surged 100.27% and managed a 77.68% climb in 2024 alone.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/H_0IQpu_610AJ6yYICzmuoYsYivDxhlOafQLRdh4lOsi9E8QuxV3UPTWlr42wWhP4bD_WN4HGn2bSZPj0EaDnAT5Td18DFXX2AXb5w9RONlxomp3_OZN0r5puB57EnkPlhHGSiR4oQNbDbu3dJk5eCk" alt>
  <figcaption class="wp-element-caption">
   DOGE YTD price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">Although more recent trading featured a rejection of a continued surge and significant volatility – albeit with consolidation within a new and higher range. As things stand, Dogecoin is down 8.27% in the last 30 days but 1.88% in the green on the weekly chart.</p>
 <p class="paragraph">Finally, the DOGE price today stands at $0.1587 after a 0.86% 24-hour drop.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-alert-dogecoin-could-drop-below-0-05-tbt86202.html">https://thebittimes.com/short-alert-dogecoin-could-drop-below-0-05-tbt86202.html</a></p>

Short alert: Dogecoin could drop below $0.05

Mục lục

TheBitTimes

Các bài viết khác được xuất bản trên 23 thg 4, 2024

Arweave is Surging: How High Can the AR Price Go?

Bitcoin and Solana prices dip as investors explore Raboo ICO

Capital inflows into spot Bitcoin ETFs reach $62m

Crypto Rebound? Solana, SHIB, ETH Surge!

‘Road To Mainnet’; Neura AI Blockchain Launches Public Testnet

Litecoin Whales Make a $230M Move as Bitcoin Halving Approaches

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!