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published in Blogs
Jan 30, 2021

Dogecoin (DOGE.X, $0.032518) up +150% Friday, on Reddit thread discussion

Cryptocurrency Dogecoin was at $0.057410 at 10 a.m. ET Friday, according to Coingecko, up around 150% on the day. This followed a Reddit board discussion about making it the cryptocurrency equivalent of GameStop.

The price eased from $0.070755 late Thursday when it had experienced a jump of  800% in just 24 hours

Dogecoin started out as a 'joke' cryptocurrency based on a popular internet meme from nearly a decade ago. Its total market value is now about $9 billion, making it the seventh most valuable cryptocurrency, (based on CoinMarketCap data). Bitcoin leads the has the highest market cap among digital currencies with a total market value of about $160 billion.

On Thursday, Bloomberg reported users on the Reddit group SatoshiStreetBets were discussing their gains, with one user saying "Doge = the crypto GME," with "GME" referring to GameStop  , the video game retailer whose value has been immensely boosted by retail investors recently.

Related Ticker: DOGE.X

DOGE.X in downward trend: 10-day moving average broke below 50-day moving average on June 11, 2024

The 10-day moving average for DOGE.X crossed bearishly below the 50-day moving average on June 11, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 30, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on DOGE.X as a result. In of 152 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for DOGE.X turned negative on May 31, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 52 similar instances when the indicator turned negative. In of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at .

DOGE.X moved below its 50-day moving average on June 07, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where DOGE.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for DOGE.X entered a downward trend on June 15, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where DOGE.X's RSI Indicator exited the oversold zone, of 47 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DOGE.X advanced for three days, in of 397 cases, the price rose further within the following month. The odds of a continued upward trend are .

DOGE.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 19.76B. The market cap for tickers in the group ranges from 19.76B to 19.76B. DOGE.X holds the highest valuation in this group at 19.76B. The lowest valued company is DOGE.X at 19.76B.

High and low price notable news

The average weekly price growth across all stocks in the group was -9%. For the same group, the average monthly price growth was -13%, and the average quarterly price growth was 45%. DOGE.X experienced the highest price growth at -9%, while DOGE.X experienced the biggest fall at -9%.

Volume

The average weekly volume growth across all stocks in the group was -46%. For the same stocks of the group, the average monthly volume growth was -51% and the average quarterly volume growth was 78%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
View a ticker or compare two or three
DOGE.XDaily Signal changed days agoGain/Loss if shorted
 
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