{"id":413537,"date":"2024-08-12T07:30:42","date_gmt":"2024-08-12T02:00:42","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=413537"},"modified":"2024-08-11T21:10:35","modified_gmt":"2024-08-11T15:40:35","slug":"dogecoin-why-now-could-be-the-time-to-bet-on-doge","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/dogecoin-why-now-could-be-the-time-to-bet-on-doge\/","title":{"rendered":"Dogecoin: Why now could be the time to bet on DOGE"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Both Dogecoin\u2019s weekly and daily charts were painted green.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Whales were dominant in the market, but a key indicator turned bearish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As the market turned bullish, several cryptos showed commendable performance, and <\/span><a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dogecoin [DOGE]<\/span><\/a><span style=\"font-weight: 400;\"> was one of them. In the meantime, AMBCrypto found a bullish pattern on the memecoin\u2019s chart, which could soon result in yet another bull rally.\u00a0<\/span><\/p>\n<h2><b>Dogecoin\u2019s promising performance\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">CoinMarketCap\u2019s <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/dogecoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that DOGE was among the handful of cryptos that managed to pain their weekly charts green as DOGE was up by over 2%. Things got even better in the past 24 hours as the world\u2019s largest memecoin\u2019s price surged by over 5%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, DOGE was trading at $0.1096 with a market capitalization of more than $15.9 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks to the memecoin\u2019s bull rally last week, its weighted sentiment remained in the positive zone for the majority of the days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This meant that bullish sentiment around Dogecoin was dominant. Its social volume also remained relatively high last week, reflecting its popularity in the crypto space.\u00a0<\/span><\/p>\n<figure id=\"attachment_413540\" aria-describedby=\"caption-attachment-413540\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024.png\"><img decoding=\"async\" class=\"wp-image-413540 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024.png\" alt=\"Dogecoin's weighted sentiment was high\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.21.22-11-Aug-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-413540\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">While DOGE\u2019s price gained upward momentum, AMBCrypto found a bullish falling wedge pattern on its chart. The pattern emerged in April, and since then DOGE\u2019s price has been consolidating inside it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> In case of a bullish breakout, DOGE might retouch its April high in the coming weeks.\u00a0<\/span><\/p>\n<figure id=\"attachment_413542\" aria-describedby=\"caption-attachment-413542\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09.png\"><img decoding=\"async\" class=\"wp-image-413542 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09.png\" alt=\"Dogecoin's falling wedge pattern\" width=\"2560\" height=\"1375\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-24-09-1200x645.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-413542\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h2><b>Is a bullish breakout possible?\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">AMBCrypto then assessed Santiment\u2019s data to find out the odds of a bullish breakout in the near term. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We found that the memecoin\u2019s MVRV ratio improved last week, which can be inferred as a bullish signal. Its velocity also increased, meaning that DOGE was used more often in transactions within a set timeframe.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> However, DOGE\u2019s trading volume dropped while its price declined, which often results in price corrections.\u00a0<\/span><\/p>\n<figure id=\"attachment_413543\" aria-describedby=\"caption-attachment-413543\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024.png\"><img decoding=\"async\" class=\"wp-image-413543 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Dogecoin-DOGE-14.27.47-11-Aug-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-413543\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Another interesting development was revealed when we checked IntoTheBlock\u2019s <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/DOGE\/deep-dive?group=ownership&amp;chart=all\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\">. As per our analysis, DOGE\u2019s whale concentration accounted for 41% of its total supply. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On top of that, DOGE\u2019s whale vs retail delta had a reading of over 89. For starters, this indicator ranges from -100 to 100, with 0 representing whales and retail positioned exactly the same. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, a value of 89 suggested that whales were having higher long exposure than retail.\u00a0<\/span><\/p>\n<figure id=\"attachment_413544\" aria-describedby=\"caption-attachment-413544\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM.png\"><img decoding=\"async\" class=\"wp-image-413544 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM.png\" alt=\"\" width=\"2560\" height=\"1424\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-300x167.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-1024x570.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-768x427.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-1536x855.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-2048x1139.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Screenshot-2024-08-11-at-2.31.07\u202fPM-1200x668.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-413544\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"https:\/\/ambcrypto.com\/predictions\/dogecoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dogecoin Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-2025\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">AMBCrypto then checked DOGE\u2019s daily chart to find out what metrics had to suggest regarding a successful breakout. The Relative Strength Index (RSI) registered an uptick. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The MACD also displayed the chances of a bullish crossover, hinting at a price increase in the coming days. Nonetheless, the Chaikin Money Flow (CMF) supported the bears as it moved southwards.\u00a0<\/span><\/p>\n<figure id=\"attachment_413571\" aria-describedby=\"caption-attachment-413571\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-413571 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58.png\" alt=\"Dogecoin\" width=\"2560\" height=\"1375\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/DOGEUSDT_2024-08-11_14-34-58-1200x645.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-413571\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A bullish falling wedge pattern appeared on Dogecoin\u2019s chart, and a breakout could allow it to retest its April highs.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":413572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6387,5824,66,3,4,20],"tags":[6427,6425],"class_list":["post-413537","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-dogecoin-news","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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