Dogecoin 380% Surge ‘A Matter Of Time’, Analyst Predicts
22 Luglio 2024 - 4:00PM
NEWSBTC
Dogecoin (DOGE) prices might be about to go through the roof.
Famous crypto researcher Javon Marks thinks that the value of DOGE
could go up by 378%, which could push the meme currency to an
all-time high of $0.6533. If this prediction comes true, it will be
a huge change for DOGE, whose road has always been like a roller
coaster. Related Reading: ORDI Soars 26% On Solid 7-Day Run – Can
It Climb Higher This Week? Dogecoin: The Bullish Outfit Javon Marks
compares Dogecoin’s price fluctuation to a market shakeout, which
entails a small decline to eliminate weaker investors before a big
surge. DOGE breached a major resistance level after recovering from
a severe fall, signalling a market turn towards optimism. Marks
thinks this breakthrough might push DOGE to $0.6533, a 378%
increase from its current price. $DOGE (Dogecoin) continues to
recover here, making the recent pullback look more and more like a
shakeout and these prices can be near ready for a massive
continuation towards the $0.6533! This target ($0.6533) remains
well in play due to prices of Dogecoin holding broken out of…
https://t.co/KeX303xNlx pic.twitter.com/iCiRxK3hSD — JAVON⚡️MARKS
(@JavonTM1) July 20, 2024 Dogecoin is trading at $0.1316 at the
time of writing, a little 3.50% rise in the past 24 hours.
Supported by a notable 31% increase in trade volume, this upswing
conforms with a short-term optimistic trend. The more people
participating in the market, the more interest and expectation of
further price changes implies. The Road To $0.6533 Marks underlines
that the only obstacle on the way to get $0.6533 is time. Any
pullbacks during this period, he says, are probably support levels
that help to sustain the general advance. Having previously
exceeded the vital 50-day EMA at $0.127, DOGE’s price is currently
hanging at the 100-day EMA at $0.134. This support level has shown
to be crucial as it shows great buying activity at this pricing
range. Still, the path to $0.6533 is not without difficulties. At
59.69 right now, the RSI indicator points to the market reaching
overbounded area. This suggests that, should the price keep rising
without a time of stabilisation, the bulls may become tired even if
there is still space for upward mobility. DOGE Price Forecast
Though the general view is positive, short-term forecasts show
DOGE’s price can decline. The present Dogecoin price forecast is
that by August 21, 2024, the price of Dogecoin will drop by -14.25%
to $0.118211. Combining a Fear & Greed Index with a score of 70
(Greed) with technical indicators reflecting the present market
attitude—which is optimistic—this projection is formed. With 6.90%
price volatility over the past 30 days, Dogecoin recorded 16/30
(53%) green days signaling that right now is a good time to buy it.
Related Reading: Terra Classic Poised For 280% Rally On ‘Major
Recovery Strength’ – Analyst The $1.25 Target Milestone Beyond the
first target, Marks advises exceeding and maintaining over $0.6533
to release another 90% rise, therefore driving DOGE to a price of
$1.25. For this meme coin, reaching this milestone would be a
historic triumph raising its price to levels not seen in previous
significant market boom. Such a climb would confirm DOGE’s place in
the crypto market and maybe draw fresh investors, therefore greatly
increasing its market valuation. Featured image from ComicBook,
chart from TradingView
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