{"id":48523,"date":"2023-11-17T20:02:03","date_gmt":"2023-11-17T20:02:03","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/dogecoin-price-prediction-as-doge-becomes-best-performing-coin-in-the-market-time-to-buy\/"},"modified":"2023-11-17T20:02:05","modified_gmt":"2023-11-17T20:02:05","slug":"dogecoin-price-prediction-as-doge-becomes-best-performing-coin-in-the-market-time-to-buy","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=48523","title":{"rendered":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy?"},"content":{"rendered":"
\n

Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up.<\/p>\n

The crypto industry\u2019s first and largest meme coin by market capitalization hit its highest level since April at $0.0877 on Friday, and despite pulling back to the $0.083s at the time of writing, is still up around 5% in the last 24 hours, as per CoinGecko.<\/p>\n

That means that Dogecoin is the best-performing cryptocurrency in the top 20 by market capitalization on Friday, which shouldn\u2019t be too surprising given the sudden surge in trading volumes seen on Friday.<\/p>\n

According to Yahoo data, trading volumes have already exceeded $2.1 billion on Friday, the highest daily figure since April and up more than 10x versus late October\u2019s lows, where daily trading volumes slumped as low as $200 million amid a lull in market activity at the time.<\/p>\n

At current levels, DOGE is now up a stunning more than 40% from October\u2019s lows in the $0.057 area, with other metrics besides the cryptocurrency\u2019s price and trading volumes also showing a quickly heating up market.<\/p>\n

As per crypto derivatives data analysis website Coinglass, the open-interest weighted funding rate of outstanding leveraged Dogecoin futures positions has been pushing steadily higher since mid-October, when the latest market recovery really got going.<\/p>\n

This suggests stronger demand for long positions than short positions, as it shows that traders taking out leveraged long futures positions are paying an increasing funding premium to those taking out short positions.<\/p>\n

Moreover, Coinglass data also shows that open interest of outstanding Dogecoin futures just hit its highest level since July at over $470 million, showing traders are placing bigger bets on the cryptocurrency.<\/p>\n

While the Dogecoin market is certainly heating up, a strong argument can be made that the latest market rise hasn\u2019t been driven by a short squeeze.<\/p>\n

Coinglass data relating to futures position liquidations in the Dogecoin market shows that, while liquidations have spiked since Dogecoin started picking up in mid-October, it\u2019s still mostly long bets that have been getting wiped out.<\/p>\n

That could mean two things; 1) that Dogecoin could yet benefit from a more sustained short-squeeze to send its price higher and 2) that the risk of long-liquidation-fuelled pullbacks in the market are low, given overly aggressive long positions have seemingly been consistently getting wiped out amid Dogecoin\u2019s latest price rally.<\/p>\n

Price Prediction \u2013 Time to Buy?<\/strong><\/h2>\n

<\/span>
Dogecoin has come a long way in recent weeks and, as such, some investors might be asking whether it is too late to buy the cryptocurrency.<\/p>\n

Well, recent technical developments, as well as bullish broader crypto market themes, mean that Dogecoin price predictions are set to remain bullish, meaning it is probably still a good time to buy the cryptocurrency.<\/p>\n

Chart analysis shows that Dogecoin broke out of a long-term pennant structure to the upside in early November after finding strong support at its 200DMA, a strong confluence of bullish technical indicators that signal a price risks are strongly tilted to the upside in the medium-term.<\/p>\n

Bulls will likely be targeting a retest of 2023 highs at $0.1050 in the coming weeks\/months.<\/p>\n

Given that the broader crypto market looks set to remain strongly support by 1) optimism about upcoming spot crypto ETFs and 2) bets that the Fed\u2019s tightening cycle is over, traders shouldn\u2019t be surprised to see more Dogecoin upside in the near future.<\/p>\n

Crypto Alternative to Consider \u2013 Meme Kombat ($MK)<\/strong><\/h2>\n

<\/span>
Dogecoin offers great near-term upside prospects.<\/p>\n

But meme coin degens who want a better probability of securing 10x gains should check out a newly launched utility packed meme coin called Meme Kombat.<\/p>\n

Meme Kombat blends together the worlds of crypto gaming and gambling with its exciting platform were users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world\u2019s most popular meme coins.<\/p>\n

Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.<\/p>\n

The project has already raised close to $1.8 million, despite launching just weeks.<\/p>\n

Visit Meme Kombat Here<\/p>\n

\n
\n

\n
\n Enter your email for our Free Daily Newsletter <\/em>\n <\/p>\n

A quick 3min read about today’s crypto news!<\/p>\n

<\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization hit its highest level since April at $0.0877 on Friday, and despite pulling back to the $0.083s at the time of writing, is still up around 5% in the last 24 hours, as […]<\/p>\n","protected":false},"author":1,"featured_media":48524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-48523","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"\nDogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds<\/title>\n<meta name=\"description\" content=\"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=48523\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=48523\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-17T20:02:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-17T20:02:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/11\/1700249593-doge.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1788\" \/>\n\t<meta property=\"og:image:height\" content=\"717\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=48523#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=48523\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy?\",\"datePublished\":\"2023-11-17T20:02:03+00:00\",\"dateModified\":\"2023-11-17T20:02:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=48523\"},\"wordCount\":698,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=48523#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=48523\",\"url\":\"https:\/\/prosfunds.com\/?p=48523\",\"name\":\"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2023-11-17T20:02:03+00:00\",\"dateModified\":\"2023-11-17T20:02:05+00:00\",\"description\":\"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=48523#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=48523\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=48523#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds","description":"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=48523","og_locale":"en_US","og_type":"article","og_title":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds","og_description":"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization","og_url":"https:\/\/prosfunds.com\/?p=48523","og_site_name":"Prosfunds","article_published_time":"2023-11-17T20:02:03+00:00","article_modified_time":"2023-11-17T20:02:05+00:00","og_image":[{"width":1788,"height":717,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/11\/1700249593-doge.png","type":"image\/png"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=48523#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=48523"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy?","datePublished":"2023-11-17T20:02:03+00:00","dateModified":"2023-11-17T20:02:05+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=48523"},"wordCount":698,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=48523#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=48523","url":"https:\/\/prosfunds.com\/?p=48523","name":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy? | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2023-11-17T20:02:03+00:00","dateModified":"2023-11-17T20:02:05+00:00","description":"Whilst the broader crypto market consolidates, Dogecoin (DOGE) is heating up. The crypto industry\u2019s first and largest meme coin by market capitalization","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=48523#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=48523"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=48523#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"Dogecoin Price Prediction as DOGE Becomes Best Performing Coin in the Market \u2013 Time to Buy?"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/48523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48523"}],"version-history":[{"count":1,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/48523\/revisions"}],"predecessor-version":[{"id":48525,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/48523\/revisions\/48525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/media\/48524"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}