{"id":450215,"date":"2024-12-08T15:30:40","date_gmt":"2024-12-08T10:00:40","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=450215"},"modified":"2024-12-09T04:05:38","modified_gmt":"2024-12-08T22:35:38","slug":"dogecoins-bullish-breakout-is-0-66-doges-next-stop","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/dogecoins-bullish-breakout-is-0-66-doges-next-stop\/","title":{"rendered":"\u200b\u200bDogecoin&#8217;s bullish breakout: Is $0.66 DOGE&#8217;s next stop?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">DOGE\u2019s trading volume increased along with the price.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">Selling pressure on DOGE increased in the last few days.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><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;\"> has once again turned volatile in the last 24 hours with its promising price pump. Thanks to the latest uptick, the world\u2019s largest memecoin managed a breakout from a bullish pattern. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Will this clear DOGE\u2019s path to $0.66?<\/span><\/p>\n<h2><b>Dogecoin turns bullish again<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Dogecoin bulls once again gained control of the market, as the world\u2019s largest memecoin\u2019s price surged by nearly 8% in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> With the latest pump, DOGE was <\/span><a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">valued<\/span><\/a><span style=\"font-weight: 400;\"> at $0.46 at press time, with a market capitalization of over $68.4 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The price hike allowed the coin to break above a bullish symmetrical triangle pattern. The pattern first emerged in early November and since then DOGE consolidated inside it, only to breakout on the 7th of December.<\/span><\/p>\n<figure id=\"attachment_450216\" aria-describedby=\"caption-attachment-450216\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15.png\"><img decoding=\"async\" class=\"wp-image-450216 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15.png\" alt=\"DOGE's bullish breakout\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/DOGEUSD_2024-12-08_11-46-15-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-450216\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Meanwhile, the technical indicator MACD displayed a bullish upper hand in the market. DOGE\u2019s Money Flow Index (MFI) also registered an uptick. A rise in the metric indicates that there is strong buying pressure in the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This increasing buying pressure can push Dogecoin towards its next target\u2014$0.66. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, such breakouts are often followed by slight corrections, which are usually a retest of the support before the start of a bull rally. Therefore, in case DOGE witnessed a pullback, investors shouldn\u2019t panic.\u00a0<\/span><\/p>\n<h2><b>What metrics suggest\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The good news was that while DOGE\u2019s price increased in the past 24 hours, the memecoin\u2019s trading volume also surged by over 78%, acting as a foundation for the bull rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The big-pocketed players in the market also were trading the coin actively. This was evident from the rise in Dogecoin\u2019s whale transaction count over the past seven days.\u00a0<\/span><\/p>\n<figure id=\"attachment_450219\" aria-describedby=\"caption-attachment-450219\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024.png\"><img decoding=\"async\" class=\"wp-image-450219 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024.png\" alt=\"DOGE's volume increased\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Dogecoin-DOGE-12.07.31-08-Dec-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-450219\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, the memecoin\u2019s Long\/Short Ratio registered an uptick in the 24-hour timeframe. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A hike in the ratio means that there are more long positions in the market than short positions\u2014an indication of rising bullish sentiment in the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, IntoTheBlock\u2019s <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/DOGE\/deep-dive?group=exchanges&amp;chart=all\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed a bearish trend. Dogecoin\u2019s netflow ratio increased in the last few days as it reached 4.68% from -2.33%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This clearly meant that investors were dumping their holdings, causing selling pressure to rise. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whenever selling pressure rises, it is followed by price correction, which could cause DOGE\u2019s price to drop and allow it to retest the support of the aforementioned bull pattern.\u00a0<\/span><\/p>\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 [DOGE] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-2025\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Nonetheless, if the selling pressure doesn\u2019t affect DOGE\u2019s uptrend, then it might first march towards $0.49 before targeting $0.66, as a slight liquidation barrier lies at that level.\u00a0<\/span><\/p>\n<figure id=\"attachment_450222\" aria-describedby=\"caption-attachment-450222\" style=\"width: 3285px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24.png\"><img decoding=\"async\" class=\"wp-image-450222 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24.png\" alt=\"DOGE liquidation heatmap\" width=\"3285\" height=\"2409\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-300x220.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-1024x751.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-768x563.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-1536x1126.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-2048x1502.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/Bybit-DOGE_USDT-Liquidation-Heatmap48-hour-2024-12-08_12_14_24-1200x880.png 1200w\" sizes=\"(max-width: 3285px) 100vw, 3285px\" \/><\/a><figcaption id=\"caption-attachment-450222\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin broke above a bullish pattern, hinting at a price hike towards $0.66.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":450224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[6387,5824,66,3,4,20],"tags":[6427,6425],"class_list":["post-450215","post","type-post","status-publish","format-standard","has-post-thumbnail","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) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u200b\u200bDogecoin&#039;s bullish breakout: Is $0.66 DOGE&#039;s next stop? 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