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Analyst Predicts When Dogecoin Will Bottom Out and Rally, Based on Smart Money Accumulation Strategy

June 15 (Cointime) - Nicholas Merten, a popular analyst and host of DataDash, predicts that Dogecoin (DOGE) could trigger a rally by the end of 2021 or early 2024. Merten believes that smart money tends to accumulate altcoins like DOGE when they are heavily discounted.

Stanley Druckenmiller Warns of More Economic Trouble Ahead as US Banking Failures Are Just the Tip of the Iceberg

Stanley Druckenmiller, a renowned investor, has expressed concern about the state of the US economy. He believes that the economy is still struggling to adapt to a more restrictive environment after years of low interest rates and easy money.

Pierre Rochard suggests Coinbase should refocus on Bitcoin, while Elon Musk tweets in favor of Dogecoin

Bitcoin advocate Pierre Rochard has suggested that Coinbase should shift its focus back to Bitcoin, the original cryptocurrency, after the company's recent IPO and diversification into other cryptocurrencies. Rochard argues that Bitcoin is the most important cryptocurrency and that Coinbase's success is largely due to its early focus on Bitcoin.

Dogecoin Price Prediction: DOGE Forms Bullish Chart Pattern

Dogecoin, the cryptocurrency with a meme-inspired origin, is catching the attention of investors once again as it forms a bullish chart pattern. Many are speculating whether Dogecoin has the potential to increase its value tenfold from its current level. This Dogecoin price prediction has gained significant interest as enthusiasts and traders analyze market dynamics and factors that could propel DOGE to new heights. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a potential continuation of the upward trend for DOGE, but traders and investors should closely monitor the market's volatility. Additionally, yPredict, an AI-powered crypto platform, has raised $1.99 million in presales and offers advanced tools and insights for traders and analysts.

Why is Dogecoin ($DOGE) Price Falling Amid 8,200% Transaction Spike?

Despite an increase in daily transactions, Dogecoin's price has continued to decline, dropping by 10% in May 2023. On-chain data shows a significant rise in network activity, but this has not translated into price gains. The spike in network activity is largely due to DRC-20 Ordinals transactions, with a significant drop in large transactions from whales. The prolonged decline in whale transactions suggests that DOGE's price could drop further towards $0.06, but there may be some bullish support around $0.065. The bulls could push for a rally to $0.09 if DOGE price breaks above $0.08.

Dogecoin Investors Seek to Amend Lawsuit Against Elon Musk, Alleging Market Manipulation and Insider Trading

Dogecoin investors have requested to amend a class-action lawsuit against Elon Musk, accusing him of manipulating the price of the meme token. The investors claim that Musk used his social media following and media appearances to profit off trades of Dogecoin through market manipulation. They allege that Musk caused the price of the token to spike by changing Twitter's logo to the Dogecoin logo. The investors also claim that the token was a security under the standards of the U.S. Securities and Exchange Commission. Musk has not yet commented on the amended complaint.

Daily Transactions of Dogecoin Skyrocket in May Due to This Reason

Dogecoin's daily transactions have skyrocketed by 8,220% in May, reaching a peak of 2.08 million, surpassing Bitcoin's peak transaction volume for the first time in 14 years. The surge in activity is attributed to the increasing trend of minting digital assets with a DRC-20 standard on the Dogecoin blockchain, combined with the network's low transaction fees. Despite the impressive growth in transaction volume, Dogecoin's price has not reflected the surge, dropping by 0.16% in the last 24 hours and 8.84% over the previous month. Experts predict Dogecoin's price to range from $0.08 to $0.1 by the end of the year.

Dogecoin's Daily Transactions Surge by 8220% in May, But its Value Trades at a Loss

Dogecoin's daily transactions skyrocketed by 8220% in May, hitting a peak of 2.08 million on May 27th, as per data from IntoTheBlock.

Dogecoin Struggles to Clear $0.074 Resistance, Potential for Rally if Broken

Dogecoin has seen a rise in value from its $0.0685 support level against the US Dollar, but is struggling to surpass the $0.074 resistance zone.

Is Dogecoin's Calmness the Calm Before the Storm? Technical Analysis Suggests Volatility Explosion Could Be Coming

Dogecoin has been relatively calm this year compared to bitcoin and ether, but a technical analysis indicator called Bollinger bandwidth suggests that this may be the calm before the storm. The Bollinger bandwidth measures volatility relative to price gyrations and shows periods of rising or declining volatility. Dogecoin's daily chart shows that the Bollinger bands have recently tightened, pushing the bandwidth down to its lowest level since February 2019, indicating that a volatility explosion may be imminent. The impending volatility explosion is agnostic to price direction, meaning that the big move can be either bearish or bullish.