{"id":285052,"date":"2024-04-18T02:36:28","date_gmt":"2024-04-17T21:06:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/whats-next-for-dogecoin-price-after-failing-to-hold-50-fibonacci-support-crypto-news\/"},"modified":"2024-04-18T02:36:32","modified_gmt":"2024-04-17T21:06:32","slug":"whats-next-for-dogecoin-price-after-failing-to-hold-50-fibonacci-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whats-next-for-dogecoin-price-after-failing-to-hold-50-fibonacci-support-crypto-news\/","title":{"rendered":"What&#8217;s Next for Dogecoin Price After Failing to Hold 50% Fibonacci Support? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Dogecoin Price: Amid the pre-halving correction in the crypto market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/bitcoin-btc-price-prediction\/\">Bitcoin price<\/a> plunged to a low of $59672 on Wednesday registering a loss of 4.5%. This steady supply pressure prolongs the correction trend for the majority of major altcoins including Dogecoin. With an intraday loss of 5%, the largest meme cryptocurrency by market cap loses the 50% retracement support, indicating the potential for prolonged downfall.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/sponsored\/why-investors-are-dogging-dogecoin-doge-and-combating-10-7-drop-with-new-a-i-cryptocurrency-presale-token\/\">Why Investors Are Dogging Dogecoin (DOGE) and Combating 10.7% Drop with New A.I Cryptocurrency Presale Token<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>Will Dogecoin Price Lose $0.14 Amid Market Correction?<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/d\/dHyvq9gB.png\" alt=\"BINANCE:DOGEUSDT Chart \" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Dogecoin Price| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/dogecoin-whale-buys-300m-doge-bitmain-extends-support-for-doge-mining\/\">Dogecoin<\/a> entered the current correction trend in late March, as the price reverted from the high of $0.288. The bearish downturn plunged the coin value 35% within three weeks to the current trade at $0.14.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/quick-adsense-reloaded\/includes\/gutenberg\/dist\/blocks.style.build.css?ver=2.0.82\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.5.2\" type=\"text\/css\" media=\"1\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"logdash-activity-log-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/plugins\/logdash-activity-log\/assets\/build\/index.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"parent-style-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/style.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"bootstrap-css-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/bootstrap.min.css?ver=6.5.2\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"Carousel-css2-css\" href=\"https:\/\/coingape.com\/wp-content\/themes\/coingapev3\/css\/owl.carousel.min.css?ver=6.5.2\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"Carousel-css-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/css\/owl.theme.default.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-magazine-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/style.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"mh-font-awesome-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/mh-magazine\/includes\/font-awesome.min.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"tablepress-default-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/tablepress-combined.min.css?ver=1713250859\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/themes\/coingapev3\/maincss.css?ver=1713250859\"\/><\/noscript><\/p>\n<p><span style=\"font-weight: 400;\">The formation of new lower highs and lows signals a change in market sentiment from \u201cbuying on dip\u201d to \u201cselling on rallies\u201d. The downsloping trendline in the daily chart acts as dynamic resistance and leads the current projecting of a downtrend. This falling price has recently breached the 50% Fibonacci retracement tool\u2014 a key support for buyers to maintain their dominance over the asset.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">By the press time, Dogecoin trades at $0.148, and with a market cap of $21.4 Billion, it maintains its position as the 8th largest cryptocurrency.<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">If the breakdown sustains, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/dogecoin-doge-price-prediction\/\">DOGE price<\/a> may plunge 16.4% to hit the March 2024 low of $0.124. With less than 2 days for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/trending\/bitcoin-halving-to-hit-miners-with-billions-in-loses-heres-why\/\">Bitcoin halving<\/a>, the aforementioned levels act as a crucial reversal point.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Historical trends suggest that Bitcoin typically takes a while to embark on its rally post-halving, and thus altcoins may require even more time before showing bullish momentum. Thus, the potential trend for Dogecoin price for the near term seems sideways.<\/span><\/p>\n<h3><b>Technical Indicator<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Directional Movement Index: <\/b><span style=\"font-weight: 400;\">A bearish crossover between the DI+(blue) and DI-(orange) indicates the sellers are leading the short-term trend of SHIB price.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average:<\/b><span style=\"font-weight: 400;\"> The memecoin price trading above daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMAs<\/a> 100 and 200 highlights the broader trend remains bullish.<\/span><\/li>\n<\/ul>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" 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Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. 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market, the Bitcoin price plunged to a low of $59672 on Wednesday registering a loss of 4.5%. This steady supply pressure prolongs the correction trend for the majority of major altcoins including Dogecoin. With an intraday loss of 5%, the largest meme cryptocurrency by market cap [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":272086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-285052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=285052"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285052\/revisions"}],"predecessor-version":[{"id":285053,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285052\/revisions\/285053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/272086"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=285052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=285052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=285052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}