Wen $1 DOGE Price? Historical Data Predicts Incoming Face-Melting Rally For Dogecoin

Wen $1 DOGE Price? Historical Data Predicts Incoming Face-Melting Rally For Dogecoin
фото показано с : zycrypto.com

2024-5-2 20:01

Despite the mushrooming of meme coins in the market, Dogecoin is unlikely to fade into obscurity owing to its robust community of fanatics. But what are the odds of the canine-themed token reaching a price of one dollar in the foreseeable future?

A closely followed analyst in the crypto space says that Dogecoin could be on the verge of a full-blown bull market based on historical trends.

Why DOGE Could Soon See A Mouthwatering Breakout 

Crypto strategist Ali Martinez told his 61.1k followers on the X social media platform that Dogecoin’s recent price correction is typical for the top meme coin before a spectacular bull run.

DOGE recorded sluggish price action in April, closing the month down over 35%. But May has started positively after climbing 4.9% in the past 24 hours.

Martinez highlighted that DOGE broke out of a descending triangle technical formation in 2017. Then, the dog-themed crypto retraced by 40% before embarking on a 982% parabolic surge. Similarly, in 2021, DOGE broke out of a descending triangle and then plummeted 56% before rocketing by a whopping 12,197%. Breaking out of a descending triangle pattern suggests that the downward momentum is weakening, and a potential reversal to the upside may be looming.

And now in 2024, Dogecoin has once again broken out of a descending triangle and is currently experiencing a 47% price correction, similar to past cycles. This suggests DOGE may be building for a strong exit from the weeks-long period of consolidation. So, if history repeats, we may see a bullish Dogecoin price breakout following the latest correction.

“Over the years, Dogecoin appears to mirror its previous bull cycles! All you need is a little bit of patience,” Martinez summarized.

However, it pays to recall that past price movement does not guarantee future outcomes. As such, any price forecasts in the crypto space should be taken with a grain of salt.

DOGE is changing hands for $0.1303 at publication time, reflecting a market-wide recovery after a rough couple of days leading up to the United States Federal Reserve deciding not to adjust interest rates. Whether DOGE hits a dollar in the next bull cycle is anyone’s guess.

origin »

Dogecoin (DOGE) на Currencies.ru

$ 0.2542 (+0.08%)
Объем 24H $1.316b
Изменеия 24h: 0.25 %, 7d: 0.47 %
Cегодня L: $0.2468 - H: $0.2551
Капитализация $37.648b Rank 8
Цена в час новости $ 0.1332 (90.84%)

dogecoin doge fade unlikely market obscurity community

dogecoin doge → Результатов: 126


Фото:

Dogecoin готовится к росту? Илон Маск заявил, что пора использовать DOGE по-крупному

Назначение Маска в новый департамент 2024 год стал прорывным для Dogecoin (DOGE). Мем-коин обновил трехлетний максимум, а также стал символом новой инициативы избранного президента США Дональда Трампа — Департамента правительственной эффективности (D.

2024-12-30 15:19


Илон Маск вновь пропампил Dogecoin

Всего одним твитом Илон Маск снова взбудоражил комьюнити Dogecoin. За 24 часа мемкоин DOGE взлетел уже более чем на 14% и, возможно, не остановится в ближайшее время. Разбираемся, что происходит с курсом Dogecoin (DOGE) и ждать ли от мемкоина обновления локальных максимумов.

2024-10-30 19:11


Is Dogecoin Dead? This Sign Suggests a Potential DOGE Price Rebound Is On The Horizon

Dogecoin’s $DOGE spent most of August in a narrow $0.10 channel, but in the last week, a breakout was attempted, and it rose by 8.5% to a $0.114 peak.  Yesterday, Twitter analyst Ali Charts told and shared a chart with his 70k followers that Dogecoin’s price shows a bullish divergence against the Relative Strength Indicator […] The post Is Dogecoin Dead? This Sign Suggests a Potential DOGE Price Rebound Is On The Horizon appeared first on CaptainAltcoin.

2024-9-3 09:25