Bitcoin price is trading within the upper range of the November 2021 supply zone as crypto markets rally.
BTC could reclaim its $69,000 peak, a level last seen in November 2021, with the potential for an extension to $70K.
The pioneer crypto’s market capitalization has already set a new record, breaching the $1.3020 billion threshold.
Bitcoin (BTC) price is steadily edging towards its 2021 peak, just a tad away as markets show optimism. Trading activity remains sky-high with all signs pointing to the pioneering cryptocurrency reclaiming its peak.

Bitcoin inches closer to its peak price
Bitcoin (BTC) price is trading with a bullish bias, reaching for the $69,000 all-time high as cryptocurrency markets flash green. While BTC is yet to reclaim its peak price, the pioneer crypto’s market capitalization has already hit a new milestone, breaching its November 2021 peak of $1.3020 billion.

The optimism in the Bitcoin market has seen BTC surpass Meta Platforms, the parent company of giant social media platform Facebook, in market capitalization metrics. Reports also indicate that BTC continues to dethrone currencies across the globe.

Specifically, BTC has recorded a new all-time high in 70% (14 out of 20) of the G20 currencies. However, all eyes continue to watch its value against the US dollar (USD).

The host of CNBC’s Mad Money, Jim Cramer, attributes this to traders buying BTC as a hedge against fiat currencies.

JUST IN: Traders are buying #Bitcoin as a hedge against fiat currencies, states Jim Cramer pic.twitter.com/GZmKAPhER1

— BlockNews.com (@blocknewsdotcom) March 4, 2024
Amid frothing trading activity in the market, Coinbase Exchange has crashed again, with users complaining of latency issues and zero balances. However, the platform’s customer support has assured users of the safety of their funds.

Bitcoin price outlook as BTC market cap peaks
Bitcoin price is trading within the upper midrange of the November 2021 supply zone between $60,522 and $67,525. If BTC manages a candlestick close above the midline of this range at $64,023, it would confirm the continuation of the uptrend.

This could set the tone for the continuation of the trend with BTC likely to reclaim the $69,000 peak. In a highly bullish case, the pioneer crypto could extend the gains to $70,000, marking a new all-time high.



BTC/USDT 1-day chart, BTC market capitalization 1-day chart

Conversely, profit-taking could see Bitcoin price drop, with the supply zone holding as a resistance order block. In such a turnout, BTC could revisit the $60,000 psychological level.

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Price Predictions 2024: How Dogecoin (DOGE) Could Surpass $0.91?

DOGE’s price is set to break past $0.91 by December 2024, buoyed by positive market sentiment.
With strides towards network interoperability, DOGE eyes a bullish trend continuation into 2025.
Market volatility notwithstanding, DOGE’s average trading price could ascend to $1.232 by 2025.
Dogecoin (DOGE) stands out as a beacon of potential in 2024. With expert analysis pointing towards a significant price increase, enthusiasts and investors alike are keenly watching the coin’s trajectory.

The consensus among crypto analysts is that DOGE is on the brink of an extraordinary surge, with predictions setting its sights on surpassing the $0.91 mark by year-end.

The key to Dogecoin’s anticipated success lies in its strategic moves towards network interoperability. This technological evolution is expected to enhance DOGE’s utility, making it more than just a meme coin but a significant player in facilitating seamless cross-network transactions.

This, coupled with a bullish trend in market sentiment, could see the coin achieve an average trading price of $1.232 by 2025, a remarkable feat given the current market conditions.

Despite the inherent market volatility, Dogecoin’s prospects remain exceptionally bright. The coin’s minimum trading price might hover around $0.392, with an average trading price settling at $0.583.

However, the true potential lies in its upward trajectory, promising an exciting future for early adopters and long-term investors.

The Future of DOGE in the Crypto Industry
Looking ahead, Dogecoin’s place in the crypto industry seems more vibrant than ever. Its journey towards interoperability is not just a technological upgrade but a step towards redefining its market value.

As Dogecoin continues to capture the imagination and support of the crypto community, its climb to over $0.91 appears not only achievable but inevitable.

This optimistic outlook is not unfounded but rooted in tangible advancements and a growing community of supporters. Dogecoin’s trajectory offers a glimpse into a future where it holds a pivotal role in the broader ecosystem of digital currencies.

Its rise is a testament to the dynamic and ever-evolving nature of the crypto market, where innovation and community support can drive remarkable growth.
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Dogecoin more than doubles as DOGE joins WIF, PEPE, FLOKI and others in meme coin rally

Dogecoin price has shot up 27% in the last 24 hours; up by 130% in the past eight days
This massive upswing could see DOGE tag the $0.279 resistance next.
Investors should be cautious and be ready to buy the dips above the $0.116 support level.
Dogecoin price has shown incredible momentum and continues to climb after the previous week’s 78% rally. Considering the massive volatility surrounding meme coins, this DOGE move is not surprising.

Dogecoin price flies high
Dogecoin (DOGE) price cleared the multi-month declining trend line in October 2023, but the parabolic rally began in February 2024. So far, DOGE has soared by 130% in the past eight days. This massive upswing has shattered the $0.116 and $0.181 weekly resistance levels.

Considering the current outlook of the market where meme coins are ruling the trend, it isn’t surprising for DOGE to have rallied so much. However, the dynamics could change quickly when Bitcoin price sets up a new all-time high.

But until that happens, meme coins are likely going to continue shooting up.

Supporting this massive rally in Dogecoin price is the Relative Strength Index (RSI), which has reached the 85 level for the first time since May 2021. The green Awesome Oscillator (AO) histograms above the zero line also suggest a burst of bullish momentum, supporting this uptrend.

DOGE/USDT 1-week chart

DOGE/USDT 1-week chart

According to IntoTheBlock’s Global In/Out of the Money (GIOM) indicator, the next cluster of resistance levels stretches from $0.178 to $0.671. Here, roughly 11 billion DOGE was purchased by 720,000 addresses at an average price of $0.331. Some of these addresses are already at breakeven levels, and others are Out of the Money.

So, investors that have huge unrealized profits could consider booking some around $0.331, where a major chunk of the holders could consider selling their stack at breakeven.

DOGE GIOM

DOGE GIOM

While the outlook for Dogecoin price is bullish, it is unlikely DOGE will turn bearish, especially considering the up-only market conditions that have been prevalent for the past few months. Investors should consider setting up dollar-cost averaging upto the next key support level at $0.116.

However, if Dogecoin price flips the said weekly support level into a resistance level with a weekly candlestick close below it, it would invalidate the bullish thesis for DOGE.

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