Dogecoin To $100? Crypto Analyst Reveals The Key
08 Março 2024 - 6:00PM
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Dogecoin has seen a number of bullish predictions over the last
month, especially with the recovery of the crypto market. The
latest in this long line of bullish predictions is that of one
crypto analyst who goes by southofearth on TradingView. According
to the analyst, the DOGE price will rally higher than expectations.
Dogecoin Price Maintains Previous Patterns The analysis which was
posted on the TradingView website shows the trajectory of the
Dogecoin price since it was launched back in 2013. The chart
highlights the performance of DOGE in the years leading up to each
Bitcoin halving and how this can pinpoint its rally point. Related
Reading: Total ETH Burned Crosses 1.5 Million Ahead Of Ethereum
Dencun Upgrade Both times have seen the Dogecoin price put on a
massive rally after each halving, suggesting that it is a bullish
trigger for the meme coin. With the next Bitcoin halving expected
to take place sometime in April, the DOGE price looks to be gearing
up for another breakout. The crypto analyst points out that DOGE is
currently showing a similar pattern as it had in the previous
years, although with a bit more volatility. But because it is
mostly maintaining this pattern, the chances of it following the
same patter of rallying are high. They also explain that the
markets are moving faster, and the 4-year cycle that investors are
used to might be getting shorter. Given this, the bull market
begins faster, although with longer bear markets. In this case, the
analyst believes that the DOGE price could top out in October of
2024 instead of in 2025 as expected. Source: TradingView.com DOGE
Price Targets For Bull Market Southofearth also shared their price
targets for Dogecoin going forward, with four targets in total. The
first puts the price at $1, which looks to be the start of the
breakout. From there, the next target is placed at 1005 from the
first target at $2. Related Reading: Wall Street Expert Says $100
XRP Price Prediction Has Expired, What Does This Mean? Then another
jump to $14 is expected before running all the way to $27.
According to the crypto analyst, $27 is the next all-time high
price for DOGE going by what has happened to the coin in previous
years. However, it doesn’t end there, as the analyst predicted that
the DOGE price could possibly rise to $100 and above. But for this
to happen, there has to be “hyperbitcoinization happens due to
dollar index breaking down,” the analyst explains. If the crypto
analyst is correct, then the DOGE price could see a 16,000% move
from here. However, the possibility of this happening is very slim
given that DOGE’s market cap is already at $20 billion, and such a
move would make it larger than Ethereum. DOGE price jumps to $0.16
| Source: DOGEUSDT on Tradingview.com Featured image from Analytics
Insight, chart from Tradingview.com
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