Bitcoin (BTC) recently retested the upper boundary of the tilted flag shape within its daily time frame. At the same time, the second largest proof of workload (PoW) guarantees digital assets and the leading meme currency, Dog Coin (DOGE), are preparing for potential bullish breakthroughs
Bitcoin (BTC) recently retested the upper boundary of the tilted flag shape within its daily time frame. At the same time, the second largest proof of workload (PoW) guarantees digital assets and the leading meme currency, Dog Coin (DOGE), are preparing for potential bullish breakthroughs. DOGE has risen by approximately 4% in the past 24 hours, with an early Asian trading price of approximately $0.76. In addition, the weekly relative strength index (RSI) has risen above 50 for the first time since the beginning of the year.
The price target for dog coins at the relief rally:
After rising by 30% in the past four weeks, Gougou Coin has decisively broken through the long-term triangular consolidation pattern, indicating the potential for further gains in the coming weeks. CryptoKaleo, a renowned digital asset analyst, said that Dogcoin is expected to reach 20 cents in this rebound. However, he warned that dog coins may not reach the $1 mark until after 2024.
CryptoKaleo predicts that Dogcoin will first encounter a psychological resistance zone between 9 and 10 cents, and then move on to the next major obstacle of 15 cents. It is worth noting that the 20 cent target is based on the performance of Dogcoin relative to Bitcoin, emphasizing the importance of BTC price trends for memes.
The Gougou Coin network has approximately 5.9 million non zero addresses, promoting approximately 174 million on chain transactions. As of the release of the report, the total computing power of Dogcoin was approximately 732.09TH/s, and the mining difficulty was approximately 11.71 million. These indicators reflect the robustness and activity of the dogcoin network.
In short, Gougou Coin is ready for a bullish breakthrough, and analysts have set a price target. However, it is worth noting that reaching $1 may take some time. The performance of Bitcoin will also play a crucial role in the journey of Dogcoin, and the network of memes continues to exhibit important activities.
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