Important Message for Dogecoin Holders!! All Holders WATCH!!
Dogecoin price dip is characteristically tagged as a holders gambit. Some are busy stacking up more Dogecoin in anticipation of what would be a great breakout. Dogecoin price can attempt to hit above 60 cents to test resistance at the 70 cents level. Upswing will confirm a breakout towards the pattern set over its November 2020 high at the beginning of 2021.
Keep focus on Dogecoin chart
The price first fell to around 40 cents price level and then has risen to a level of around fifty five cents. It seems to be building up to go on the upside very soon on the weekly charts. We are looking forward to seeing some significant changes on Dogecoin chart. If the price can make it to the resistance set at sixty cents, possibly the next few weeks maybe decisive for Dogecoin.
The price is at a weekly high that used to serve as a support level when it went as high as 70 cents on May 7th. On the other hand, we should note that we may see the price bouncing off the support line and exist at a go between level before attempting to breakout above the resistance line. If we get a clear weekly close above 70 cents, it will tell that the consolidation process is complete and will raise the odds that the currency resume’s the rally to one dollar.
The longer you hold, the higher the returns
There’s been another Elon Musk cryptocurrency tweet with him asking if Tesla should accept Dogecoin. This is good news for holders because the community would be entering a long term partnership with the fastest growing company of the automobile industry. Dogecoin Holdings are bound to win this incredible growth over time. The longer you huddle, the higher the returns. Those coins price risks at a pivotal point on the charts, trying to stay above the April high of forty five cents.
The coin will successfully rally moving forward if it does close with consecutive inside days and the correction process is largely exhausted and proposed. It’s important to note that the 50 percent retracement of the rally from April low sits just below the current support at forty four cents. The future of several unrealized small fortunes rests on the resolution of the tightening price action above the April high at forty five cents.
A Shiba statue representing Dogecoin has been placed in front of Wall Street’s famous charging bull statue. It’s not clear how long the statue will remain before it’s removed by law enforcement or transferred to a different location by the owner. The statue, however, is seen as a symbol representing all the big banks of the world. The statue could be left in front of the building, just like how the charging bull got installed as an icon. People are still holding out for it to grow even further, especially with its price poised at fifty cents and market cap sitting as the fourth largest crypto in the world, with about sixty five billion dollars worth of market cap.