Dogecoin Price Prediction as Coinbase Prepares to Launch DOGE Futures – $1 Incoming?
The Dogecoin price has barely moved in the past 24 hours, with its current level of $0.173 representing an 18% gain in a week.
Much of this gain has followed the news that major crypto-exchange Coinbase will launch DOGE-based futures on April 1, an announcement that has seen the coin’s trading volume rise from under $2 billion to over $3 billion in a couple of days.
DOGE is now also up by 100% in a month, with the famous meme coins also marking a 130% gain in a year.
Yet the announcement of DOGE futures points to a near future that could see the token’s volumes and price rise significantly, as more traders enter its market.
DOGE’s chart is in an interesting position, insofar as its resistance (red) and support (green) levels are converging towards each other.
This implies that the Dogecoin price will either break out towards higher levels or face a further dump, with its rising RSI (purple) suggesting that a breakout is a touch more likely.
It’s also encouraging that DOGE’s price has climbed over its 30-day average (yellow), something which is likely to pull up the latter and put further distance between it and the 200-day (blue).
In other words, DOGE remains in the middle of an expansionary period, one which could see its price reach new yearly heights.
It will be helped by the aforementioned news that Coinbase will be adding DOGE futures next week, something which could herald a big rise in the coin’s volumes.
April 1st coinbase launches doge futures
it would be a shame if it front ran that launch
— Dyme (@CryptoParadyme) March 23, 2024
It continues to attract interest from large investors, as indicated by recent transfer data, and it’s possible that the ability to trade futures on Coinbase will only help it in this respect.
DOGE
Read more on cryptonews.com
