• Dogecoin price had a 1,100% pump on January 28 thanks to a Reddit group called WallStreetBets.
  • Although the digital asset plummeted from $0.087 down to $0.03, it is still up 300%.
  • DOGE is trading between two critical levels that will determine its future.

Dogecoin had one of the biggest cryptocurrency pumps in less than 48 hours jumping by 1,100% to a new all-time high of $0.087 reaching a total market capitalization of over $9 billion. Of course, this pump didn’t last long and the digital asset quickly dropped to a low of $0.022 but has recovered significantly. 

Dogecoin price on the verge of another massive move

On the 4-hour chart, the Bollinger Bands have squeezed significantly and formed a range between $0.042 and $0.024. The trading volume of DOGE has also declined notably which indicates a major move is underway. A breakout above $0.042 would be a significantly bullish sign.

doge price

DOGE/USD 4-hour chart

The In/Out of the Money Around Price shows only one significant resistance area between $0.031 and $0.032 with 808 million DOGE in volume. Crossing above this point can drive Dogecoin price towards $0.042. 

doge price

DOGE IOMAP chart

On the other hand, there is a stronger support range between $0.03 and $0.031 with 1.74 billion DOGE of volume. Losing this crucial level can push DOGE towards the support level of $0.024. 


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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

NEAR protocol could see a rally as it sets out to launch an AI smart contract builder

NEAR protocol could see a rally as it sets out to launch an AI smart contract builder

Near protocol (NEAR) co-founder Illia Polosukhin stated in a social media post on Wednesday plans for NEAR to launch NEAR AI, a user-owned AI system that will allow users to build web3 apps without code on an end-to-end network.

More Near News

US House of Reps passes bill aiming to regulate cryptocurrencies

US House of Reps passes bill aiming to regulate cryptocurrencies

FIT21 bill received massive support as the House of Representatives voted to pass the bill on Wednesday. The White House and US Securities & Exchange Commission (SEC) Chair, Gary Gensler, expressed concerns about the potential impact of the FIT21 bill on investor protections in a statement.

More Cryptocurrencies News

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filings

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filings

Ethereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC). The agency has also begun conversations with issuers on S-1s applications.

More Ethereum News

As Ethereum spot ETF approval nears, these altcoins could explode

As Ethereum spot ETF approval nears, these altcoins could explode

It is not surprising that altcoins related to Bitcoin saw a major rally post-Bitcoin spot ETF approval. Likewise, tokens closely related to Ether could ride the ETF approval wave. Ethereum Classic, Pepe, Floki and other DeFi tokens could gain momentum as the ETH ETF approval deadline nears. 

More Cryptocurrencies News

Bitcoin: Is BTC out of the woods? Premium

Bitcoin: Is BTC out of the woods?

Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.

Read full analysis

BTC

ETH

XRP