In the dynamic world of cryptocurrency trading, every investor is on the lookout for the next big coin that could potentially offer substantial returns. As of now, Dogecoin, a digital coin that began as a meme currency, is making headlines with forecasts of a bullish surge. Recently, a prediction from top crypto analyst TradingShot suggests that Dogecoin could be on the brink of a major price hike, potentially exceeding its current all-time high (ATH). The subsequent content will delve further into this prediction, dissecting the potential factors contributing to this bullish forecast.
Dogecoin’s potential breakthrough to a new ATH
According to a post by TradingShot on TradingView, Dogecoin could be setting itself up for a bullish surge, aiming to surpass its present ATH and notch up new highs. The analyst’s projection is based on Dogecoin’s recent break above the Lower Highs trend, which initiated two months ago on the high of January 18. With this uptrend, the digital coin could potentially rally towards a target of $0.8, notes TradingShot.
Interestingly, despite Dogecoin hovering around a natural resistance at the 1-day MA50, approximately $0.3, the analyst expressed confidence in an imminent bullish surge. The uptrending 1-day RSI, coupled with the price rebound from the recent lows at the bottom of the 1-year Channel up, suggests the onset of a new bullish leg, according to TradingShot.
Meanwhile, another noteworthy observation ahead of the predicted price rally is the active DOGE accumulation by crypto whales. The analyst Ali Martinez reported that this accumulation of over 200 million DOGE within the past fortnight could signal the whales’ confidence and hint at the future bullish surge of Dogecoin.
Dogecoin’s final stages of Cycle3
Crypto analyst Trader Tardigrade, in another post, suggested that Dogecoin is approaching the culmination of its third cycle. Based on previous bull cycles where Dogecoin demonstrated significant gains, the analyst anticipates the digital coin might rally to a stunning high of around $6.
Adding to these optimistic projections, the analyst further hints at a potential surge based on Dogecoin’s Moving Average Convergence Divergence (MACD) emerging from a triangle consolidation. This transition could potentially trigger a huge pump for the meme coin. Looking at the charts, Tardigrade asserts that Dogecoin might rally to the highly anticipated $1 level by June, with analyst Master Kenobi predicting a possible peak at $1.1.
At the time of writing, the price of Dogecoin is approximately $0.19, marking a 4% increase in the last 24 hours, according to data from CoinMarketCap.
To provide readers with an edge in this volatile crypto landscape, stay tuned for more updates and predictions. Using a trusted financial insights platform like Finances Zippy can also offer real-time price predictions and expert-driven market trends, helping investors make informed decisions.
FAQs
Will Dogecoin surge soon?
According to several crypto analysts, Dogecoin might be on the brink of a significant bullish surge. Active accumulation by whales, along with positive technical indicators, hint at a potential rally.
What could be the future price of Dogecoin?
While it’s challenging to predict the future price of any cryptocurrency accurately, multiple analysts anticipate Dogecoin to touch the $1 mark by June this year. Some predictions even suggest a potential high of $6.
How can I keep track of Dogecoin’s price?
Platforms like Finances Zippy provide real-time price updates and market trends for a wide array of cryptocurrencies, including Dogecoin. It’s a trusted source for crypto enthusiasts to stay updated on market dynamics.
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