{"id":175446,"date":"2023-05-14T07:31:31","date_gmt":"2023-05-14T07:31:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175446"},"modified":"2023-05-14T07:31:31","modified_gmt":"2023-05-14T07:31:31","slug":"dogecoin-traders-watch-for-a-breakout","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/dogecoin-traders-watch-for-a-breakout\/","title":{"rendered":"Dogecoin Traders Watch For A Breakout"},"content":{"rendered":"

Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies of 2021, thanks to the involvement of high-profile figures like Elon Musk and Mark Cuban. Its value skyrocketed earlier this year, but has since retreated.\u00a0<\/span><\/p>\n

As investors and traders keep a close eye on its movements, the next potential catalyst for Dogecoin could be a decisive breakout on higher-than-average trading volume.\u00a0<\/span><\/p>\n

Let\u2019s examine the current state of Dogecoin, what traders are looking for in terms of a breakout, and what the future may hold for this popular meme coin.<\/span><\/p>\n

Dogecoin (DOGE) Recent Performance And Price Action<\/strong><\/h2>\n

On Wednesday, Dogecoin’s downtrend was confirmed as the cryptocurrency hit a lower high of $0.074 and formed a lower low at the 7-cent mark on Monday. As of Friday’s 24-hour trading session, Dogecoin was attempting to print an inside bar pattern, indicating a <\/span>potential bearish trend<\/span>.\u00a0<\/span><\/p>\n

Traders should monitor the crypto’s movement and volume to assess its future direction, especially if it breaks up or down from Thursday’s mother bar.<\/span><\/p>\n

At the time of writing, Dogecoin’s price on <\/span>CoinGecko<\/span> was 0.072436, showing a 3.0% 24-hour rally. However, the last seven days have been challenging for the meme-inspired cryptocurrency, with a significant slump of 9.0%.<\/span><\/p>\n

Despite the recent decline, there’s a chance that Dogecoin’s local bottom has occurred as it was working to print a hammer candlestick on Friday. This candlestick pattern suggests that the cryptocurrency’s downward momentum may have come to a halt, but it remains to be seen whether it can sustain an upward trend in the coming days.<\/span><\/p>\n

Potential Catalyst For Dogecoin’s Recent Rally<\/strong><\/h2>\n

Dogecoin’s recent 24-hour rally may have been influenced by the recent events on Twitter, which have been previously spearheaded by Elon Musk, the self-proclaimed “Dogefather.”\u00a0<\/span><\/p>\n

However, he has now <\/span>handed the leadership to Linda Yaccarino<\/span>, NBCUniversal’s advertising chief, who appears to share Musk’s enthusiasm for meme coins.<\/span><\/p>\n

Yaccarino’s interest in Dogecoin and Shiba Inu is evident from the fact that she follows multiple affiliated accounts on Twitter, including the primary ones for both cryptocurrencies. <\/span><\/p>\n

DOGE total market cap currently at $10 billion on the weekend chart at TradingView.com<\/p>\n

Related Reading: SPONGE Lists On 2 Major Exchanges: Will It Beat Pepe\u2019s Solid Price Performance?<\/p>\n

However, her views on key issues related to cryptocurrencies, particularly their potential role on social media platforms, remain largely unknown, despite her active presence on Twitter.\u00a0<\/span><\/p>\n

It remains to be seen if Yaccarino’s involvement will have an impact on Dogecoin’s future performance, similar to the influence that Musk has wielded over the cryptocurrency. <\/span><\/p>\n

Only time will tell whether the “Yaccarino Effect” will be a potential catalyst for Dogecoin’s growth in the near future.<\/span><\/p>\n

-Featured image from EPLAN UK Blog<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) has been one of the<\/p>\n","protected":false},"author":3,"featured_media":175445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nDogecoin Traders Watch For A Breakout - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/dogecoin-traders-watch-for-a-breakout\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Traders Watch For A Breakout - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Dogecoin (DOGE) has been one of the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/dogecoin-traders-watch-for-a-breakout\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-14T07:31:31+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Dogecoin-Traders-Watch-For-A-Breakout.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/dogecoin-traders-watch-for-a-breakout\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/dogecoin-traders-watch-for-a-breakout\/\",\"name\":\"Dogecoin Traders Watch For A Breakout - 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