Renewed Interest Could Force a Retest of All-time Highs
Dogedash showed a solid performance in October, fuelled by a surge in Doge-themed coins led by Shiba Inu. However, one thing sets DogeDash apart from the rest. It is also a crypto-gaming token, provided as a reward via contributions and gameplay within the ecosystem. It is also the currency for the purchase of in-game NFTs available on its platform.
The rebranding of Facebook to Meta led to a surge in Metaverse-themed apps, which was a boost for the crypto gaming market. Consequently, DogeDash is starting to see a resurgence in performance, following the dip from its 20 October all-time high (ATH).
DogeDash retested this all-time high on Monday, followed by a slight pullback. The 4-hour chart shows that the active candle is making a burst to retest this high once more, coming on the back of a launch of its first video game in demo mode.
Dogedash Price Prediction
A break of 0.0000016882 is needed to allow the bulls to aim for new highs. The Fibonacci extension levels at 0.0000021594 (100% extension), 0.0000026323 (127.2% Fibo extension) and 0.0000028792 (141.4% extension) are all potential candidates, depending on the strength of any breakout advance.
On the flip side, rejection at the ATH of 0.0000016882 triggers a corrective decline towards 0.0000012931. If the bulls fail to defend this level, 0.0000010707 and 0.0000008800 (50% Fibonacci retracement and 23/29 October tops) will come into the picture as additional targets to the south.
Dogedash: 4-Hour Chart
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