Bittime - Bitcoin (BTC) price has recovered to $66,000, followed by other altcoins also managing to recover from the downturn. Dogecoin (DOGE) returned to the $0.16 level. Easing tensions in the Middle East in the last 24 hours, coupled with enthusiasm ahead of the halving, fueled optimism about price recovery. While it is too early to say for sure, the latest data can provide an insight into the future of prices.
Dogecoin (DOGE) Soars
DOGE price touched $0.16 again and rose 6% in the last 24 hours. Bitcoin's recovery sparked a more than 5% rally in altcoins overall. Rising prices from lows offer short-term profit opportunities. So, what is the current situation with DOGE?
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According to IntoTheBlock data, around 85% of Dogecoin owners are currently profitable. This means the current price is pushing 12% of DOGE holders into losses. If the price increase continues, Dogecoin investors will likely be more patient, and reduced selling pressure could create a favorable environment for reaching new highs.
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Another positive news is the high percentage of investors who made a profit, even though DOGE withdrawals from exchanges increased. The increase in withdrawals from exchanges to wallets shows that investors are less interested in selling and are accumulating. The recent price decline may actually spark investor interest for medium and long term goals. According to data from the last seven days, 110 million more DOGE was withdrawn to wallets than was sent to exchanges.
Dogecoin Predictions
On-chain data reveals DOGE trends beyond the short-term agenda. For example, in the last 30 days, the number of wallets holding DOGE reached 6.3 million. The continued increase throughout 2024 reflects investors' confidence in the post-halving period.
Judging from the technical side, even though the support of $0.151 was broken, DOGE managed to recover after touching $0.13. Currently, DOGE is gathering strength above the support level to reach a new high. Barring a major sell-off in the Bitcoin ETF spot channel in the coming hours, the general market sentiment may get carried away by the enthusiasm ahead of the halving.
The $0.176 level is the point where the Dogecoin rally could accelerate, and a price close above this level would target $0.20. The main obstacles before reaching $0.30 are the $0.23 and $0.27 levels.
How to Buy DOGECOIN (DOGE) on Bittime
You can buy and sell DOGECOIN (DOGE) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
DOGECOIN (DOGE )is available on Bittime with the market pair DOGE/IDR . To be able to buy DOGE IDRat Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy DOGECOIN (DOGE ) on Bittime .
Monitor price chart movements for DOGECOIN (DOGE) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Business with Dogecoin (DOGE): Here is a List of Companies that Accept DOGE!
Dogecoin (DOGE) Potential to Hit $1 Before Bitcoin Halving? This is what the expert says
Dogecoin (DOGE): Definition, History and How It Works
Doge Coin (DOGE) Price Prediction According to Crypto Academy
Bitcoin Halving: Understanding Its Mechanism and Importance
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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