Dogecoin Price Prediction: Will DOGE Hit New All-Time Highs?
Note: This post may contain affiliate links, and we may earn a commission (with No additional cost for you) if you make a purchase via our link. See our disclosure for more info. The crypto world is constantly changing. This content is for informational purposes only and not financial, legal, or professional advice So, please verify the info on the cryptocurrency provider’s websites.
Recent analyses suggest a strong possibility of Dogecoin (DOGE) reaching new all-time highs. Crypto analyst Javon Marks highlights recurring historical patterns: periods of consolidation followed by explosive price increases. Marks' analysis, comparing DOGE's current market structure to past price movements (2014-present), reveals a similar pattern of compression within wedge-like formations preceding major breakouts. He points to the 2016-2017 bull market, where DOGE hit $0.01877 after consolidation, and the 2021 bull run, reaching $0.739 after a similar pattern. The current chart structure mirrors these past setups, suggesting an impending breakout. Marks predicts a potential rally exceeding 226%, possibly surpassing the previous ATH of $0.739, and potentially reaching $1.42 or even $2.11. Another analyst, Bitguru, also sees a positive outlook, noting a healthy pullback after a recent decline from $0.2866 to around $0.22. Bitguru identifies a potential double-bottom structure, suggesting a bullish reversal. This analyst projects a short-term upside of 28.83%, with price targets between $0.24 and $0.25, potentially extending to $0.28 if bullish momentum continues. Both analyses indicate a strong potential for DOGE price increases, although the degree of increase varies. Investors should remain cautious, acknowledging inherent risks in cryptocurrency investments. The predictions are based on technical analysis and historical patterns, and there are no guarantees in the volatile cryptocurrency market.
(Source: https://www.newsbtc.com/news/dogecoin/dogecoin-price-to-new-highs/)
