Dogecoin (DOGE) Price Prediction Today December 27, 2024

Bittime - Dogecoin (DOGE), the most popular meme coin continues to attract the attention of investors and traders. 

The following is the price prediction for Dogecoin (DOGE) today, December 27 2024. Read this article to find out more!

Dogecoin (DOGE) Price Prediction: DOGE Price Today

Source: Bittime.com

Based on today's Bittime market, the DOGE/USDT price rose by 1.83% and was trading at $0.32 or around Rp. 5,201 when this article was written. 

With the price of DOGE experiencing this increase, the predicted price of Dogecoin (DOGE) today could experience an even higher increase.

Read Also: Who Created Dogecoin (DOGE)? Not Elon Musk lol!  

Dogecoin (DOGE) Price Prediction: Technical Analysis

Dogecoin is currently showing a bearish price pattern, which could trigger a significant decline if the key support level is not successfully maintained. 

Based on technical analysis, DOGE is on the verge of breaking out of a small consolidation zone that formed after failing to maintain support at the level $0,35.

At close prices $0,30, there is a high probability that DOGE will decline until $0,22 if unable to close the daily candle above that level. 

However, if DOGE manages to maintain the price above $0.30, Dogecoin (DOGE) price prediction has a chance to avoid further declines.

Read Also: How Much Did $DOGE First Appear?  

Dogecoin (DOGE) Price Prediction: Market Sentiment

The current bearish sentiment is supported by on-chain data. The DOGE Long/Short ratio is recorded in the numbers 0,71, which is the lowest level since early December 2024. 

A ratio below 1 indicates that more traders are opening short positions, which indicates expectations of further price decline.

Meanwhile, sa lot 58,3% top DOGE traders choose short positions, while only 41,7% who chooses a long position. This strengthens the Dogecoin (DOGE) price prediction that selling pressure still dominates the market.

Read Also: Uses of Dogecoin (DOGE) and Main Features   

Dogecoin (DOGE) Price Prediction: Inflow and Outflow

Despite bearish sentiment dominating, significant DOGE outflows from exchanges, reached $32.75 million. This phenomenon is often considered an accumulation opportunity by long-term investors. 

With reduced supply on exchanges, Dogecoin (DOGE) price prediction has the potential to gain upward momentum, especially if the market stabilizes again.

Read Also: Accept Payments Using $DOGE: Here's a List of Companies, Don't You Know?   

Dogecoin FAQs

What is Dogecoin?

Dogecoin is a meme coin created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin is now one of the most popular crypto assets with a large and active community.

How is Dogecoin Different from Bitcoin?

Dogecoin has an unlimited supply, while Bitcoin has a maximum supply of 21 million coins. In addition, Dogecoin transactions are faster and have lower fees than Bitcoin, making it more suitable for everyday payments.

What are the Uses of Dogecoin?

Dogecoin is often used for online tipping, charitable donations, and micropayments. In addition, its community is also active in supporting social projects.

How to Buy Crypto with Bittime

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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Faisal Shahnawaz, Dogecoin (DOGE) Price Today – December 27, 2024, accessed December 27, 2024.

Akashnath S., MEW vs POPCAT: Could a memecoin flippening be closer than you think?, accessed December 27, 2024.

Author: IPR