Dogecoin does not manage to recover sustainably. Even a recent tweet from Elon Musk could not move the course. When does the downtrend end?
Is DOGE no longer rising above $ 0.30?
The Dogecoin charts have not been showing strong breakouts upwards for quite some time. For this, the coin trades predominantly sideways or even mines: the cryptocurrency had to lose almost 1% within the last 24 hours, and in relation to the week, DOGE even recorded losses of almost 14%. Currently, the coin, once conceived as a joke, is trading at $ 0.28 – and while some are sticking to the $ 1 price target, many are also wondering if Dogecoin can ever rise above 30 cents again.
Even a recent tweet from Tesla CEO Elon Musk did not have a positive effect on the price. Musk is considered the most influential Dogecoin supporter. His tweets used to have the potential to move the price sensitively. But that seems to be over now. When a Twitter user posts something about the planned Dogecoin updates, which are supposed to lay the groundwork for lower DOGE fees, Musk responds promptly, writes:
– Elon Musk (@elonmusk) August 30, 2021
And the course? Does not even react with a twitch. If Dogecoin fails to recover with the support of Elon Musk – what does this mean for DOGE’s short – and medium-term prospects? What developments do traders and analysts expect from the coin?
Crypto analyst “DonAlt” does not currently expect an increase in Dogecoin. He comments: The price has been hanging on its entry price for too long, which is why it is now exiting. The setup has changed from” good “to” unsafe scam ” – and he tries to avoid that, according to his own statement.
$ DOGE update:
Thought I’d update the above setup with my thoughts
The staff were very friendly and helpful.
The setup goes from good to uncertain gambling which I try to avoid doing
– DonAlt (@CryptoDonAlt) August 30, 2021
Slightly more optimistic about the short-term DOGE forecast is @TradingTank, an analyst from the popular “The Birb Nest” team. He writes his more than 23,000 Twitter followers: DOGE (to buy from eToro or Libertex) may be able to rise to as high as $ 0.32 in the short term.
Analyst “Cobiwan” also sees “signs that we are experiencing a breakout up to the 0.42-0.48 zone”. However, should Dogecoin fall below $ 0.27 again, one would have to expect a stronger and longer downtrend.
Mysterious DOGE Countdown
Finally, the tweet of the Dogecoin fan account @cryptunez should be mentioned: According to the pseudonymous industry observer, “something big” will soon happen – something that DOGE fans should definitely not miss. The countdown has been running since yesterday – and tomorrow it should be ready. Whether this can provide an impetus to give the DOGE price the needed upward momentum again?
“Something big will happen in less than 48 hours
If you’re a fan of DOGE, you can’t miss this.
The countdown begins now.“
something huge is happening in less than 48 hours
if you are a fan of $ DOGE you can’t miss this.
countdown starts now.
– $DOGE TO $ 3 🔥 🚀 (69 IQ) (@cryptunez) August 29, 2021