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  • Dogecoin price finally breaks out of static journey with 11% jump
  • Crypto market seems to have positively affected Doge after several sluggish weeks
  • Bullish run expected to extend gains

The Dogecoin price is in positive territory with an 11% rise over the past 24 hours to the $0.225 level. With bullish sentiment once again taking control of the market, Doge is looking very positive and gains are expected to continue.

This is very welcome news as the dog themed meme cryptocurrency has been performing rather sluggishly of late with the price stuck between $0.18 and $0.20 for several weeks. This time there has been no Elon Musk tweet to move the market so it shows that Dogecoin is moving forward under its own steam.

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Short Term Prediction For Dogecoin Price: Bullish Momentum Taking Over

The Dogecoin price seems to have finally broken out of bearish mode and is looking for a break upwards, possibly to the $0.30 level. There is definitely buying interest now as more investors seem to have entered the market.

Doge should now encounter resistance at the $0.24 level, a price point that has not been seen since June. If that is broken, then it shoot all the way forward to the $0.30 level where another resistance point should be encountered.

A bearish thesis would of course invalidate all this with the Dogecoin price succumbing to selling pressure and descending below the $0.20 level. If a sell off occurs, then DOGE will probably descend all the way to the $0.16 level where it would once again revisit lows from 20 July. This scenario does look highly unlikely however, especially with a bullish momentum gaining control of the market.

It has to be said that the Dogecoin price has now appreciated by almost 40% since that July 20 low. This makes it one of the best performing cryptos over the past weeks notwithstanding the negative press surrounding it.

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Long Term Forecast For Doge: Hitting The $0.50 mark by end of year

The Gary Gensler speech which called for more crypto regulation seems to have had an opposite effect on the cryptocurrency markets. Most coins have recorded substantial gains over the past 24-48 hours and bullish momentum is once again in town.

The Dogecoin price has finally started showing some bullish momentum after weeks of decline and indifferent moves upwards and sideways. It is expected that Doge will continue to rise slowly but highs of $0.50-$0.60 should not be too impossible to attain – at least by end of year.

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