Lorenzo Stroe
Independent Analyst
- Mark Cuban has endorsed Dogecoin once again, stating that it could reach $1.
- The digital asset had a significant 24% rally in the past day but has retraced hard.
- DOGE remains bullish in the short-term despite the recent 10% sell-off.
Dogecoin price has once again spiked towards $0.063 after Mark Cuban, owner of the Dallas Mavericks predicted that the digital asset should reach $1.
If we sell 6,556,000,000 DOGE in Mavs merchandise, Dogecoin should definitely reach $1.
Dogecoin sees a lot of success as payment method
According to Mark Cuban, the Dallas Mavericks have already done more than 20,000 Dogecoin in transactions- Dogecoin is often used as a payment method and cryptocurrency to send funds through exchanges as it is fast and has a low fee.
DOGE/USD 12-hour chart
In the past 24 hours, Dogecoin price had a 24% rally towards $0.063 following Mark Cuban comments. However, the TD Sequential indicator is on the verge of presenting a sell signal on the 12-hour chart which could quickly send Dogecoin down to $0.05 again.
DOGE IOMAP chart
To invalidate the potential sell signal, bulls will need to push Dogecoin price above the last high. The In/Out of the Money Around Price (IOMAP) chart shows that the most significant resistance area is located between $0.057 and $0.059. A breakout above this point will push Dogecoin price towards $0.065 as there is weaker resistance ahead.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Cardano price could trap impatient investors before triggering an explosive move to $0.505
Cardano price shows a consolidation below a stable support level and has yet to reveal a directional bias. The ongoing range tightening will likely resolve as the US markets head to a fresh start this week.
LUNA Classic price hints at a 25% crash as Do Kwon under Red Notice from Interpol
LUNA Classic price reveals a bearish outlook that could unfold over the course of this week. A minor run-up seems plausible, but it is just a move to squeeze the bulls. Therefore, market participants should be ready for a quick reversal.
Ethereum Price Prediction: Assessing the possibility of a post-Merge rally
Ethereum price trades at $1,323 on Sunday, several days after sliding to $1,200. It was a surprise that the largest smart contracts token would give up most of its gains during and after the much-publicized Merge. On-chain data shows a significant reduction in the Ethereum Supply.
Why Chainlink price could lose momentum at $8.00
-637336005550289133_XtraSmall.jpg)
Chainlink price is among the few crypto assets in the green on Sunday. The smart contacts’ price feed oracle token defied the bear market this week to post 23.7% gains. As discussed earlier in the week, the V-shaped pattern matured at LINK brushed shoulders with $8.00.
Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation
Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.