Dogecoin Price To $24? Analyst Says No One Will Believe It Until It Happens
27 Ottobre 2024 - 5:00AM
NEWSBTC
A crypto analyst has forecasted a massive price surge for Dogecoin
(DOGE), predicting that the king of meme coins will hit a whopping
$24 in the near term. While this price target may seem ambitious
with Dogecoin currently trading below $1, the analyst has remained
confident, indicating that a surge to this target would shock
skeptics. Related Reading: Shiba Inu Inflows Soar 555% In 3
Months – Will The Momentum Continue? Dogecoin Eyes $24 Price
Target The Dogecoin price has been trading below $1 for years
now, experiencing significant price fluctuations as it attempts to
break out of key resistance levels and move past current bearish
positions. In contrast to Shiba Inu (SHIB), its top meme coin
competitor which has seen impressive gains recently, Dogecoin has
experienced substantial price declines that have left a few
investors no choice but to liquidate their holdings. Amidst
this bearish trend, a crypto analyst, identified as ‘CEO’ on X
(formerly Twitter) has rekindled optimism among Dogecoin community
members with a new bullish prediction for the cryptocurrency. The
analyst has shared what he describes as the “ultimate Dogecoin
chart,” where he projects that the meme coin could reach $24 soon.
In the Dogecoin chart, the analyst disclosed the cryptocurrency’s
past price movements, highlighting two instances where the meme
coin experienced prolonged bearish trends before breaking out into
a massive price surge. Based on Dogecoin’s current price action it
seems the meme coin is displaying similar historical conditions
that suggest that a bull rally might be imminent. And according to
the CEO, this potential bull rally could see DOGE hitting
$24. Is A $24 Dogecoin Price Increase Possible?
Given how lofty a $24 price for Dogecoin might seem, the CEO has
acknowledged that many people would doubt such a bullish outcome.
Nevertheless, he expressed strong confidence in this prediction,
asserting that Dogecoin skeptics will be proven wrong when the meme
coin reaches this milestone. With Dogecoin’s price presently
trading at $0.13, it’s understandable why many investors would be
skeptical of the meme coin reaching a $24 price target. Achieving
this ambitious milestone would require the king of meme coins to
surge approximately 18,362% from its current price — an
extraordinary leap that would likely occur during periods of
intense demand and bullish sentiments typically seen during strong
bull markets. In addition to this, a $24 price surge for
Dogecoin would also require its market capitalization to reach
trillions of dollars. As of writing, Dogecoin’s market cap sits at
$19.6 billion, meaning it would need to surpass Bitcoin’s market
capitalization which is currently $1.3 trillion to hit this price
level. Related Reading: Against All Odds: Solana (SOL) Breaks
Past $176 In 3-Month Push Data from CoinMarketCap shows that the
Dogecoin price has experienced a 6.41% decrease over the past seven
days and another 4.37% decline in the last 24 hours. The
cryptocurrency is currently trading at $0.134, with derivatives
data from Coinglass showing that the meme coin’s open interest is
down by 9.65% but also up by 24.2% in terms of trading
volume. Featured image from Newsweek, chart from TradingView
Grafico Azioni SHIBA INU (COIN:SHIBUSD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni SHIBA INU (COIN:SHIBUSD)
Storico
Da Dic 2023 a Dic 2024