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Dogecoin is in integrated mode
Cryptocurrencies trade near major resistance
Meme Tokens Are A Potential Breakout Buy
if you were looking for buy dogecoin (DOGE/USD), ready! Selling after FTX collapse may be overkill. However, it is not an outright buy as it requires further confirmation.
General crypto mood is responsible for DOGE’s weakness. But the lack of positive progress surrounding Elon Musk’s acquisition of Twitter has also hit Meme Tokens. Since the acquisition took place, there has been little to no hint from DOGE’s father about using tokens as payment.
David Gokhshtein of Gokhshtein Media shares thoughts that the Doge community may be interested in. Gokhshtein says he expects the Ethereum founder to work with his Musk on a significant upgrade to Dogecoin. This view was born when Ethereum founder Vitalik Buterin commented on the original Dogecoin. Buterin suggests that blockchain should move to Proof-of-Stake consensus. The Ethereum code will be used in case the transition occurs.
In May, Musk tried to improve DOGE’s trading system. Twitter’s acquisition could reignite the upgrade debate if DOGE is accepted as payment.
The daily chart shows that DOGE is targeting a breakout at the $0.09 resistance. The cryptocurrency is up 10% intraday, indicating that buyers are active at key levels. A breakout is imminent.
The MACD indicator is bearish, but the weakness has eased. The RSI has risen above the neutral zone, indicating that some buyers have entered.
breakout beckons dogecoin price If the daily candlestick breaks out of this level, it is at $0.09. The breakout welcomes the bullish momentum and the next level he is at $0.14. Investors should watch how the price action unfolds and buy on breakouts.
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