Dogecoin Price Prediction as DOGE Hits 8 Month Highs – Can It Sustain This Growth?

Arslan Butt
Last updated: | 4 min read


Dogecoin (DOGE), the famed meme cryptocurrency, has recently soared to an 8-month high, trading around $0.09782. This remarkable surge, highlighted by a peak at $0.10 on Wednesday, signals a robust bullish momentum in the crypto arena.

The rally is underpinned by a favorable market sentiment and a series of optimistic forecasts about Dogecoin’s potential price trajectory.

A key contributor to Dogecoin’s surge is its 10th anniversary, celebrated on December 6, which has ignited investor enthusiasm. This milestone commemorates its inception by creators Billy Markus and Jackson Palmer, and it plays a significant role in the current valuation spike.

As Dogecoin navigates this uptrend, the crypto community closely monitors its growth path and the factors fueling its resilience in the volatile market.

Austin Hilton’s Bullish Outlook Boosts Dogecoin Confidence

YouTube cryptocurrency analyst Austin Hilton recently expressed a bullish stance on Dogecoin’s future. Celebrating Dogecoin’s 10th anniversary on December 7th, Hilton underscored the cryptocurrency’s remarkable 75% price surge over the past 45 days, describing the growth as “crazy good.”

He attributes this success to the broader crypto market rally, where the total market capitalization has soared beyond $1.6 trillion, primarily driven by retail investment flowing back into major cryptocurrencies.

Hilton anticipates Dogecoin’s positive trend to continue, drawing attention to the potential approval of a Bitcoin ETF in January 2024 and Dogecoin’s historical performance in December.

He advises his viewers to take advantage of the current market conditions and join in celebrating this auspicious moment for the cryptocurrency sector.

Austin Hilton’s optimistic perspective and the upbeat sentiments shared in his video are likely to bolster investor confidence in Dogecoin. This positive outlook may further enhance Dogecoin’s current upward trend, potentially impacting its market price favorably.

Dogecoin Price Prediction

The current price of Dogecoin stands at $0.0920, marking a 4% increase over the last 24 hours. This rise is supported by a substantial trading volume of approximately $935.8 million. Dogecoin currently holds the 9th rank in the market with a significant live market cap of about $13.08 billion.

The circulating supply of Dogecoin is a staggering 142.11 billion DOGE coins, contributing to its widespread presence in the crypto market.

From a technical perspective, Dogecoin is trading near a pivotal point at $0.0925. The immediate resistance levels are set at $0.0984, $0.1051, and $0.1101, which could challenge the upward momentum.

Conversely, support levels are established at $0.0877, $0.0814, and $0.0744, providing potential floors for any downward retracement.

The Relative Strength Index (RSI) for Dogecoin stands at 28, indicating that the asset is currently in the oversold territory, which often precedes a potential upward price movement.

The Moving Average Convergence Divergence (MACD) also shows a positive value of 0.0069, suggesting the beginning of a bullish momentum as it crosses above the signal line at -0.0493.

A crucial observation is the 50-Day Exponential Moving Average (EMA), currently at $0.0925, which Dogecoin is hovering around. This EMA level often acts as a barometer for short-term market sentiment.

Additionally, the chart patterns reveal a ‘Three White Soldiers’ candlestick pattern, which is a bullish signal, indicating a potential continuation of the buying trend.

Moreover, on the daily chart, DOGE/USD seems to be approaching the Fibonacci extension level of 161.8%, a technical indicator that often marks significant resistance or support levels. In summary, the overall trend for Dogecoin appears bullish above the $0.0925 mark.

Meme Kombat: The Latest Web3 Gaming Platform That Raised Nearly $2.7 Million in Presale

Meme Kombat, a pioneering Web3 gaming platform blending meme culture with combat gaming, has achieved significant success, raising nearly $2.7 million in its presale, nearing its $3.5 million goal. With the next price increase to $0.246 scheduled in just over 6 days, the platform continues to attract attention in the crypto community.

Central to Meme Kombat’s financial structure is its native token, Meme Kombat Token ($MK), which currently offers an impressive staking Annual Percentage Yield (APY) of 112%. This high yield presents both active and residual earning opportunities for players and investors alike, as detailed in the project’s whitepaper.

The platform allows users to connect their  crypto wallets seamlessly and stake their $MK tokens. Significantly, 30% of the token supply is earmarked for staking and in-game player rewards, fostering a stable token economy.

The initial 14-day staking period offers flexibility, allowing participants to either withdraw their tokens or continue staking to benefit from the lucrative APY.

Meme Kombat is not just about earning; it’s set to introduce several exciting features between October and November 2023.

This includes the launch of Meme Kombat Season 1, promising to keep the gaming experience fresh and engaging. Moreover, the end of 2023 will see the release of Meme Kombat 2, anticipated to bring enhanced gameplay features.

With the price of 1 $MK currently at $0.235 and poised for an imminent increase, Meme Kombat is making waves as a compelling blend of gaming excitement and financial opportunity.

Visit Meme Kombat HereDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.