Dogecoin Price Prediction as DOGE Becomes Top Meme Coin in the World – Can DOGE Reach $10 in 2024?
The Dogecoin price has held to $0.060052 today, marking a 0% move in 24 hours and 1.5% gain in the past week.
DOGE remains down by 3.5% in a month, however, with the meme token also having declined by 13.5% since the beginning of January.
Yet DOGE's positivity over the past week has reinforced its position as the market's biggest meme token, with the altcoin also remaining in the top 10 of cryptocurrencies by market cap.
And with the market primed to rally big if and when a Bitcoin ETF is approved, DOGE may be in line for some big gains soon, particularly if there's any more news on Twitter's ongoing attempts to introduce digital payments.
Despite DOGE's rises of the past week, its indicators continue to look fairly subdued, with there currently being no technical suggestion that a rally may be imminent.
For one, DOGE's relative strength index (purple) has stalled after attempting to rise to 50 earlier last week, with the indicator currently stuck at around 45, which is suggestive of neither overselling nor any real buying momentum.
It's a similar story with the meme token's 30-day exponential moving average (yellow), which continues to slide further below its 200-day average (blue), despite already being some distance underneath it.
Just as disconcerting is DOGE's support level (green), which has slid downwards consistently since the middle of August, and while Dogecoin has seen an increase in the past week, previous experience would show that momentary rises can take place in the context of an overall decline.
These concerns aside, yesterday's market-wide rally shows how the approval of a Bitcoin ETF would benefit most cryptocurrencies, including Dogecoin.
Such an approval would serve to legitimize the entire crypto sector,
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