After Bitcoin (BTC) showed an impressive bullish spike last week, the cryptocurrency market appears to have entered a correction phase. After confidently approaching the $45,000 mark, the leading digital asset gave back about 6% of its gains. Despite this**, most analysts remain optimistic about the future of the cryptocurrency market, with a possible boom expected in 2024.
The temporary adjustment provides a favorable opportunity to make strategic investments in promising tokens at a discounted price. Notably, Dogecoin (DOGE) has recently shown resilience against market resistance levels, with Floki Inu (FLOKI) not far behind.
Dogecoin (DOGE) is showing positive momentum. The "In-Currency Out-of-Currency" metric is an important tool for assessing the profitability of DOGE holding addresses, revealing a significant portion of token holders who currently exist "in-currency". Impressively, 72% of DOGE addresses are currently profitable. This statistic suggests that holders have a solid base and that they may exhibit fewer ** tendencies, thus building a solid backing for the cryptocurrency. Dogecoin's recent performance highlights its resilience, effectively absorbing the sell-off and maintaining its momentum.
As of this writing, DOGE's trading** range is 0$0944 to 0USD 0964. In the past week,** up 5%, and in a month, it's soaring by an impressive 23%.
Analyzing the key indicators, the RSI and Stochastic Oscillators are both neutral at 49 and 75, respectively. At the same time, the MACD level is skewed bullish with a reading of 00060。
Check for moving flats on different timeframes**, all indicators are bullish. 10 days** is 0$0947 with a 10-day moving flat of 0USD 0954. In the long term, 100 days** are at 0$0753, 100 days** at 0USD 0703. Together, these moves paint a positive picture that reinforces the current bullish sentiment around Dogecoin.
On-chain metrics show that DOGE's in-the-money metrics dominate relative to out-of-the-money value, suggesting that a significant portion of holders are currently profitable. This observation reduces the likelihood of a sharp sell-off in the near term. If this trend continues and DOGE maintains its upward trajectory, it may immediately encounter resistance at 0$1105, the subsequent upside target is located at 0$1191.
Conversely, in a bearish scenario, a temporary retracement to 0$0892 is possible. Further downside momentum could push ** towards 0USD 0765. These levels should be closely watched for signs of a trend reversal.
Floki Inu (FLOKI) has great potential to go strong**. It is now in a similar correction phase to other altcoins, but its technical indicators are mostly bullish. Floki will host an AMA on December 12 at X, making announcements related to Floki and TokenFI, an event that may spark interest in the token.
As of the latest update, floki ** is close to 0000038 USD. One week**26%, one month**222%。
Most of Floki's indicators are neutral to bullish. The RSI is 56 and the Stochastic is 47, which is neutral. At the same time, 00000043777 momentum, 00000021849 of the MACD level as well as 00000000708 bull and bear power all provide the best signals.
The analysis of the moving flat ** shows a mixed picture. 10 days** is 00000383295 USD, the 10-day moving average** is 00000391591 dollars, implying that there is selling pressure in the near term. At the same time, if ** remains at 0$0000290275 for 100 days** and 0Above the $0000256480 100-day moving level**, the long-term outlook will be more positive.
Since most indicators point to a bullish trend, Floki is ready to test 00000456491 initial resistance level for the US dollar. If the coin successfully resists the selling pressure at this point, it may propel itself towards the subsequent resistance level of 00000587567 the US dollar, thus confirming the token's strong bullish momentum.
Conversely, in a bearish scenario, it is conceivable to ** to 00000325415 USD. A sustained downturn could cause the floki to rise to the subsequent support level of 00000257710 USD. At these levels, traders may need to readjust their stop-loss orders and reassess their risk.
Both Dogecoin (DOGE) and Floki Inu (Floki) are currently exhibiting interesting dynamics. Despite the recent corrections, Dogecoin has shown resilience and is currently profitable for a large portion of holders, providing a solid foundation for Dogecoin. On the other hand, Floki Inu (Floki) is going through a correction phase, which is typical of many altcoins on the current market.
However, its technical indicators present a mostly bullish outlook, and the upcoming announcement event is likely to further spark interest in the coin. As with any investment, traders must carefully monitor market developments, adjust strategies accordingly, and remain vigilant for potential trend reversals.