• Dogecoin price has just hit a new all-time high at $0.495.
  • The network activity of DOGE has significantly increased again.
  • The digital asset seems to be facing practically no resistance ahead.

Dogecoin price has established a new all-time high of $0.495 and faces no critical resistance ahead. Cryptocurrency enthusiasts have become extremely interested in DOGE again and are pushing its price to new highs. 

Dogecoin price aims for more upside action 

Dogecoin price broke its previous all-time high of $0.45 and aims to hit $0.77 which is the 127.2% Fibonacci retracement level. Above this point, the next critical price target is $1, a psychological level and also the 141.4% Fibonacci retracement.

doge price

DOGE/USD 12-hour chart

In the last week, the number of new addresses joining the Dogecoin network has significantly increased by 30%. Similarly, the number of active addresses also saw a major 44% upswing, indicating that investors are buying DOGE at current prices. 

doge price

DOGE Network activity

However, the digital asset is facing a ton of selling pressure as the TD Sequential indicator has just presented a sell signal on the 12 and daily charts. 

doge price

DOGE Sell Signals

Validation of both signals can quickly drive Dogecoin price down to $0.45 in the short-term and as low as $0.294 at the 78.6% Fibonacci retracement level.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

These five on-chain metrics suggest that Ethereum bull market has just begun

Ethereum price has been a topic of discussion in the cryptocurrency ecosystem since it hit a new all-time high of $3,524 on May 4, while Bitcoin price is still recovering from the flash crash witnessed in April. 

More Ethereum News

SEC denies possession of crypto documents critical to Ripple defense

Although Ripple Labs has filed a motion to dismiss the Securities & Exchange Commission (SEC) lawsuit, the blockchain firm is faced with multiple challenges. Despite the judge’s ruling to allow discovery of SEC documents on Bitcoin, Ether and XRP, the securities regulator may now have the edge over Ripple.

More Ripple News

Dogecoin at make-or-break point after new all-time highs

Dogecoin price remains indecisive after setting up record highs on May 4 at $0.611. The MRI has flashed a reversal signal, indicating that DOGE might retrace. A spike in bullish momentum due to FOMO among buyers could result in a new all-time high at $0.561.

More Dogecoin News

Uniswap v3: Concentrated liquidity and multiple fee tiers to transform the future of DeFi

Uniswap is coming out with new products and features to give users more control over liquidity with its version 3 launch today. The multi-billion-dollar decentralized finance (DeFi) industry is about to see one of the largest transformations in its history.

More Uniswap News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP