Dogecoin On The Verge Of Breakout: Crypto Analyst Says Get Ready For DOGE To Pop
30 Janeiro 2024 - 6:00PM
NEWSBTC
Dogecoin (DOGE) is getting ready to “pop,” as this crypto analyst
predicts that the next move to the upside could see the meme coin
break a critical resistance level. DOGE’s price has, in recent
times, lived off the hype regarding several use cases that could be
added for it soon. However, it remains to be seen if these
narratives can propel the meme coin to hit new highs.
Dogecoin Could Rise To $0.083 Soon Crypto analyst Muro Crypto
hinted in an X (formerly Twitter) post that another bounce by DOGE
from its current support level might give it another push to break
its current resistance levels. From the accompanying chart that he
shared, one could see that the analyst was predicting that another
move to the upside could see DOGE rise to as high as $0.083.
Related Reading: Renowned Crypto Expert Reveals Top 3 Altcoins
Ready To Breakout In February 2024 In a previous X post, Muro had
shared his belief that DOGE was going to pop soon enough. Not long
after, the meme coin saw a move to the upside. However, that
momentum didn’t last for long, as the analyst noted, with the meme
coin dropping back to its entry point, halfway to the $0.83
target. It is worth mentioning that DOGE has recovered and
risen above the $0.80 psychological level, something which could
mean that it was gearing up for a further move to the upside. Mark
Cuban revealed that his Dallas Mavericks team still receives
Dogecoin as a payment method, which has partly contributed to
this most recent price surge. The meme coin has also recently
rallied on the back of speculations that the X platform could
include DOGE as a payment method in its X Payments, which is
expected to go live this year. The fondness that Elon Musk, who
happens to own X, has for the meme coin is the primary driver
behind this narrative. DOGE price sitting at $0.081 | Source:
DOGEUSD on Tradingview.com Another Factor That Could Spark A Surge
In DOGE’s Price Crypto analyst Ali Martinez revealed in an X post
that the Dogecoin network has been witnessing a “remarkable surge
in growth.” New addresses on the network are said to have increased
by a remarkable 1,1000% over the past week. Specifically, he
highlighted how a record-breaking 247,240 new DOGE addresses were
created on January 29 alone. Related Reading: What Are The
Top 8 DeFi And Web3 Wallets To Use In Crypto? The analyst noted how
a sustained uptrend in the network’s expansion “could soon reflect
positively” on DOGE’s price. Usually, such a development means that
more users are acquiring the meme coin, with an increased demand
for the meme coin likely to spark a surge in its price. At
the time of writing, DOGE is trading at around $0.081, up in the
last 24 hours, according to data from CoinMarketCap. Chart
from Tradingview.com
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