Will Dogecoin price soon exceed the $3.0 mark? That's why it could happen

When the price of Dogecoin (DOGE) stabilizes at around $0.40, catalysts for the world's largest meme currency continue to accumulate, indicating a potential upcoming price increase. Since sliding down under the short-term uptrend and struggling with the 21DMA resistance level, DOGE still faces the risk of deeper short-term declines. The price may retest the 50DMA line around $0.33, which coincides with the important support level from 2021. Please provide the text to be translated. However, the future funding interest rate of DOGE is currently quite low, indicating that any speculative excess accumulated in recent weeks has largely disappeared, helping to reduce short-term selling pressure. According to coinglass.com, the leverage funding rate for futures positions is maintained at around 0.01%, which is consistent with the September-October level and significantly lower than the high level of 0.09% reached earlier this month.

Dogecoin Price - Is a new price increase coming soon? Even if the price of Dogecoin drops in the short term, expect it to be quickly taken over by the buying side - headlines related to the upcoming agencies of the Government Efficiency Department (DOGE) founded by Elon Musk/Vivek Ramaswamy will continuously appear. And that can only happen when the Trump administration takes office at the White House in January. It can be certain that DOGE will retain a significant part of the 'mind' of the meme cryptocurrency market. Therefore, the risk of Dogecoin price still tends to increase strongly. According to TradingView data, revisiting the 2021 record high of $ 0.73905 is the first major resistance level that the buying side will aim for. But Dogecoin is on the rise even further. A new golden age for cryptocurrency is beckoning with a government and US Congress supporting the emergence of new digital currencies soon. Discussions about the possibility of establishing a strategic Bitcoin reserve continue to spread worldwide. With cryptocurrencies being adopted faster and this industry set to explode in the coming years, Dogecoin will remain a top meme currency. How high can Dogecoin go? The question is how much higher will Dogecoin rise compared to its highest level in 2021. 1 dollar? Very likely. DOGE investors need to start thinking bigger. Examining the performance of Dogecoin in previous cycles can provide useful information. It can be said that Dogecoin has gone through three market cycles since its establishment in 2014, and these cycles can provide clues. When drawing the Fibonacci extension upward from the previous market low to the previous market high, it can be seen that Dogecoin always exceeds the 4.236 Fibonacci level, surpassing this Fibonacci extension level more than 10 times during the price hike in 2021. The 4.236 Fibonacci extension from the market price low in 2022 back to the high of 2021 shows that Dogecoin will at least reach $3 per token in this cycle. Please input Vietnamese text to be translated. But as history has shown, Dogecoin often surpasses this level. In that context, it would not be unreasonable to expect Dogecoin to reach $10 in this cycle. Of course, that means the market capitalization will rise to billions of dollars, a number that may be a bit excessive. But Dogecoin can definitely increase by 10 times compared to the current level to reach a market capitalization of hundreds of billions of dollars. DYOR! #Write2Win #Write&Earn $DOGE (DOGEUSDT)