Is a Massive DOGE Price Rally in the Making?

TL;DR

  • DOGE has surged about 15% on the week to near $0.17, with analysts predicting a breakout of multi-year resistance and increased trading volume will accelerate the bullish trajectory.
  • Some predict that DOGE could reach $1, an outcome similar to previous price corrections and subsequent significant spikes.

Is DOGE entering a new bullish trend?

The resurgence of the crypto market has been evident in recent days, with Bitcoin (BTC) regaining the $64,000 level and Ethereum (ETH) above $3,100. But one digital asset saw even more impressive gainsthat’s Dogecoin (Doge).

price of Biggest Meme coin market capitalization rises by about 15% If you look at it on a weekly basisinching towards $0.17.

DOGE price, source: CoinGecko


according to
many According to analysts, the latest pumps have established a largely bullish environment for DOGE, meaning its value could rise even more significantly in the coming months.

There is one person who can support you The paper is by X user Rekt Capital. This trader has around 500,000 followers on social media platforms. claimed Dogecoin has “reversed years of resistance into new support,” resulting in a “new macro uptrend.”

Crypto Catalysts was even more bullish, highlighting the memecoin’s increasing daily trading volume, “recovery at weekly levels”, and other positive factors. X user is assumed DOGE’s path to the $1 milestone teeth clear.

Previous DOGE predictions

A cryptocurrency analyst said, is also missing These days it’s Ali Martinez. X users were unfazed by last week’s market decline and the sharp drop in DOGE prices, arguing that the asset’s pullback could be “part of normal behavior before a major bull market.”

he I got it. Several opportunity Over the past few years, meme coin prices have fallen before rising significantly. The first case was in 2017, when DOGE retraced his 40% and then soared nearly 1,000%.

The situation was repeated for 4 years Since then, the token’s valuation has plummeted by 56%, but has since soared a whopping 12,000% to reach an all-time high of almost $0.70.

“Now in 2024, DOGE still We have escaped the descending triangle again! We are currently experiencing a 47% price correction, very similar to previous cycles, which could trigger the next DOGE bull market,” concluded Ali Martinez.

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