Dogecoin blasts past $0.8 for the first time since July amid excitement in the community over the planned launch of a physical Dogecoin to the Moon.
Published 3 hours ago
Dogecoin (DOGE) bulls are not leaving any stone unturned, especially with the community hyped up due to the plans to send the physical meme coin to our Moon.
The largest meme coin exploded to above $0.8 following a break above an important bullish pattern we explored last week. Its 24-hour volume surged in tandem to support the uptrend, up 86% to $1.1 billion.
Dogecoin’s market cap has also reacted positively to the growth in value, increasing by 6.8% to $11.3 billion, based on the price data by CoinMarketCap.
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Dogecoin Price Prediction: Navigating The Bullish Market To $01
Investors and traders are less concerned about Dogecoin price retreating but whether the ninth-largest crypto can rally to hit $0.1 before the week ends. Trading at $0.0789, Dogecoin must flip above the immediate support/resistance to increase the probability of extending gains to higher levels.
One of the biggest bullish indicators is the validated double-bottom pattern, hinting at a 38% breakout to $0.1. This pattern often marks the beginning of a trend change. It is usually accompanied by a significant increase in the trading volume, which creates volatility to sustain the uptrend.
The resistance at $0.08 is not by surprise to many, as it coincides with a similar top formed in late July. A consolidation is expected before Dogecoin makes a larger breakout targeting $0.1.
The Relative Strength Index (RSI) shows that bulls have the reins after briefly letting go of the uptrend to make space for profit-taking. As long as the RSI is moving north and into the overbought region above. 70, the path with the least resistance will remain to the north.
Astrobotic Will Send A Physical Dogecoin To The Moon
The Dogecoin community is buzzing following the release of an update regarding the plan to send a physical Dogecoin to the Moon. According to a post on Twitter (now X), Astrobotic, a Pittsburg-based company will include a physical DOGE “in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023.”
🚀Dogecoin On The Moon Update🌕
Exciting news for the Dogecoin community!🌑
Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023. Funded by our community in 2015, this mission embodies collective effort! pic.twitter.com/QESz4ikHln
— Dogecoin (@dogecoin) November 16, 2023
Peregrine Mission One (PM1) is the mission expected to launch the Dogecoin to the Moon alongside 21 payloads belonging to governments, research institutions, and companies as well as the Commercial Lunar Payload Services, an initiative by NASA.
A physical Bitcoin (BTC) will also be included in the payload, courtesy of BitMEX, one of the leading crypto exchanges. The mission will also launch a copy of the Genesis Block, the first block of the Bitcoin blockchain to be mined, thanks to Bitcoin Magazine.
Dogecoin is not new to lunar missions as in 2022 Elon Musk’s SpaceX planned to launch the meme coin to the Moon, fully financed by DOGE tokens. Although the mission was delayed until January 2024, it stood out as the first-ever commercial payload to the moon paid for entirely by crypto—DOGE.
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