Transaction volume indicates strong institutional participation.
Bullish outlook supported by technical and on-chain analysis.
Dogecoin (DOGE), one of the most iconic tokens in the cryptocurrency market, is on a remarkable trajectory. The meme coin, which has already gained over 45% in value in recent days, is positioned to potentially achieve an additional 50% increase.
This optimism around DOGE comes from a combination of its recent performance, growing interest from traders and investors, and positive indicators from on-chain analysis. At the time of publication, DOGE’s price is trading at $0,295, up 30% in the last 24 hours.
Dogecoin Technical Analysis: Can DOGE Cryptocurrency Reach $3,95?
Dogecoin (DOGE) started a strong increase and broke the USD 0,30 resistance level. DOGE is showing positive signs and it could steadily rise towards the USD 0,332 and USD 0,40 levels. If there is a downward correction, the price may find bids near USD 0,280.
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The DOGE price is currently above the 200-day Exponential Moving Average, which reinforces the observed upward trend. This scenario is corroborated by the market enthusiasm and the possibility of a price advance.
Renowned cryptocurrency analyst Ali recently tweeted a bullish outlook for Dogecoin. He said, ‘#Dogecoin $DOGE is about to enter a parabolic phase! Based on historical patterns, the upside potential could be between levels 1.618 and 2.272, which would correspond to a price range of $3,95 to $23,26.’ This prediction puts Dogecoin in a prime position for potential significant upside in the near future.
the #Dogeco
$ DOGE
is about to go parabolic! Based on historical patterns, a potential top might lie between the 1.618 and 2.272 levels, translating to a price range of $3.95 to $23.26.
pic.twitter.com/FqvC3AEF7o
— Ali (@ali_charts)
November 10, 2024
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Dogecoin DOGE Surge Price Forecasts Indicate 1200 Increase