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Will Dogecoin Reach New Heights Before Year’s End? New Meme Coin Looks to Dethrone DOGE

Press Releases Crypto News BeInCrypto Will Dogecoin Reach New Heights Before Year’s End? New Meme Coin Looks to Dethrone DOGE

The popular meme coin Dogecoin (DOGE) saw its price rise above the significant $0.08 resistance level on Monday. This marks notable progress for DOGE, which has struggled to break past this level since mid-November.

Several catalysts appear to be driving Dogecoin’s recent upside momentum, including increased exchange support and the hype surrounding its upcoming physical coins journey to the literal moon in December.

One major development was Coinbase announcing that it will add support for perpetual futures contracts on Dogecoin, as well as other large altcoins like Cardano, Chainlink, and Stellar. Coinbase earlier launched a derivatives exchange targeting overseas users, and the addition of DOGE futures will allow more traders global exposure to speculate on Dogecoin’s price movements.

This increased exchange support brings Dogecoin to more potential investors and traders who may look to take positions ahead of major upcoming events for the coin.

Perhaps most notably, physical Dogecoin and Bitcoin tokens are scheduled to launch via SpaceX’s rocket on Dec. 23 in what is being billed a literal journey “to the moon.” This mission capturing the “to the moon” mantra of crypto has excited the Dogecoin community.

The upcoming launch is less than a month away, and many traders are hoping Dogecoin’s price could climb to $0.10 in the weeks leading up to and following the historic mission.

From a technical perspective, Dogecoin has exhibited signs of an established uptrend. The price action saw a bullish breakout from a descending triangle pattern, surpassing the key 200-day moving average – a sign that confirms the shift to an uptrend is underway.

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Author: BeInCrypto Team

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