Analyst Predicts Dogecoin Price Surge
Release: 2024/05/29 04:19 Reading: 622
Analyst Predicts Dogecoin Price Surge
Inspired by memes, the popular cryptocurrency Dogecoin (DOGE) recently witnessed a price surge above $0.16. However, it has since encountered substantial losses. Nonetheless, crypto analysts remain upbeat about DOGE's future prospects. A prominent crypto analyst, Ali Martinez, anticipates a doubling of Dogecoin's price during the current cycle.
DOGE Price Prediction
Martinez observes that DOGE currently faces strong resistance between $0.166 and $0.171. This resistance level signifies that approximately 75,500 addresses have acquired nearly 10 billion DOGE at this price point. According to Martinez's analysis, this poses a significant obstacle to upward price movement.
src="/uploads/20240529/171692863066564076b0868.png">
However, his analysis also suggests that if Dogecoin manages to break through this resistance level, it has the potential for a significant rally. Martinez projects a 100% surge in Dogecoin's price. Notably, he highlights the next significant resistance level at the $0.322 region.
This implies that if DOGE surpasses $0.171, it could potentially double in value. The substantial accumulation of DOGE between $0.166 and $0.171 underscores the importance of this level, indicating strong investor interest and investments.
It is also worth noting that DOGE enjoys the support of Elon Musk, who has frequently endorsed it as the "pinnacle of Meme Coins."
DOGE Price Declines
Despite the growing interest in meme coins, Dogecoin remains in negative territory. At the time of writing, DOGE is trading around $0.1619, reflecting a 4.71% decline on Tuesday, May 28.
Following this price movement, DOGE's market capitalization remains above $23.5 billion. Additionally, DOGE's trading volume has increased to $1.42 billion, representing an 8.62% rise over the past 24 hours.
According to Coinglass data, Dogecoin long positions worth approximately $2.15 million were liquidated. Moreover, DOGE futures open positions have declined by 4.17%, falling to $1.01 billion.
The Relative Strength Index (RSI) for Dogecoin has dropped to 38.79, indicating that sellers are gradually gaining control over the coin.
Recent news
More>- PEPE Now Available for New York Users to Trade on Coinbase 11-28
- Tether Discontinues Support for EURT Stablecoin: Here’s Why 11-28
- Best Trending Meme Coins in December 2024: 6.5 Billion Coins Sold in BTFD Coin’s Ongoing Presale, Pepe Coin and Ponke on the Rise 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- Missed PEPE? Don’t Miss Out on This New Token That’s Breaking Records at Lightning Speed 11-28
- CHILLGUY meme coin could be at risk as smart money sells 11-28
- Top Trending Meme Coins to Buy in 2025: BTFD Coin Presale Raises Over $150,000 in Less Than 24 Hours Since Going Live, Dogecoin and Dogs Gro... 11-28
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com