<\/p>\n
- \n
- Technical outlook indicated that DOGE could rise to $0.070.\u00a0<\/em><\/li>\n
- Even though traders are targeting a higher range, the broader market remains on the qui vive.<\/em><\/li>\n<\/ul>\n
It\u2019s less than 10 days to the end of October, and the initial projections that <\/span>Dogecoin\u2019s [DOGE]<\/span><\/a> performance would blast through the roof have not seen the light of day. At the time of writing, the price of the coin was $0.06\u2014 a similar value to what it was when the month started.<\/span><\/p>\n
\nRead <\/span>Dogecoin\u2019s [DOGE] Price Prediction<\/span><\/a> 2023-2024<\/span><\/p>\n
\nHowever, in the last seven days, Dogecoin has been showing signs of a sustained uptick, even though it was a mild 3.51% hike. However, according to technical analyst and trader Ali Martinez, that may not be the end for DOGE, and the drums of \u201cUptober\u201d may become louder.<\/span><\/p>\n
Leftovers yet to be picked<\/b><\/h4>\n
Martinez, in his post on X (formerly Twitter), noted that DOGE may not be able to hit $1 as projected in some corners. Furthermore, he mentioned that the Tom DeMark (TD) sequential presented a buy signal that could push the meme to $0.070.<\/span><\/p>\n
\n
#Dogecoin<\/a> appears ready to start a new uptrend! <\/p>\n
The TD Sequential presented a buy signal on $DOGE<\/a> weekly chart. A sustained close above $0.062 could result in an upswing to $0.070. pic.twitter.com\/XAGjXHMiOe<\/a><\/p>\n
\u2014 Ali (@ali_charts) October 21, 2023<\/a><\/p>\n<\/blockquote>\n
From the post above, he also added a condition that DOGE would only hit the price if it <\/span>closes<\/span><\/a> above $0.062. The TD sequential is a technical tool used to identify trend exhaustion and potential price reversal.\u00a0<\/span><\/p>\n
The chart shared by Martinez showed that sellers who were involved in quick profit-taking are now fatigued. Hence, Dogecoin could be ready to go in the <\/span>direction<\/span><\/a> that the bulls desire. <\/span><\/p>\n
At press time, DOGE had closed above $0.062. This increase meant that the chances of a continuous uptrend have been kept alive.<\/span><\/p>\n
When considering the <\/span>volume<\/span><\/a>, on-chain data showed that it had risen to 164.28 million. Should the volume continue to increase and back up the price rise, DOGE might inevitably hit $0.070 before October ends.<\/span><\/p>\n
![\"Dogecoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Dogecoin-DOGE-07.45.20-22-Oct-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Caution laced with dogma<\/b><\/h4>\n
However, a section of the market seems to be wary of Dogecoin\u2019s movement, as indicated by the Weighted Sentiment. Over the last seven days, DOGE\u2019s Weighted Sentiment fell to -0.629. <\/span><\/p>\n
The Weighted Sentiment is the median of the optimistic and pessimistic views about a project based on social comments.<\/span><\/p>\n
Therefore, the value mentioned above <\/span>depicts<\/span><\/a> how the broader market may have concluded that Dogecoin might not end October on a great note. This perception was, however, countered by traders. These traders put their thoughts into action, as shown by the Funding Rate.<\/span><\/p>\n
\nIs your portfolio green? Check out the <\/span>DOGE Profit Calculator<\/span><\/a><\/p>\n
\nFunding Rates are fees paid between traders depending on the position held. A positive Funding Rate means longs are paying shorts, and the average position is bullish. On the other hand, a negative Funding Rate means there are more bearish positions held in the market.<\/span><\/p>\n
- Even though traders are targeting a higher range, the broader market remains on the qui vive.<\/em><\/li>\n<\/ul>\n
![\"Dogecoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Dogecoin-DOGE-07.58.07-22-Oct-2023.png\")