DOGE Could Surge to $7: Expert Predicts Major Rally as Dogecoin Whale Activity and Optimism Increase – Is This the End of Zero After the Com...
Release: 2024/08/25 04:17 Reading: 214
Dogecoin's Rise: Predictions of a Staggering Surge
Dogecoin (DOGE) has garnered substantial optimism, with predictions forecasting a remarkable surge in value during the next bullish cycle.
One analyst suggests DOGE may potentially reach a staggering $20-$50. Notably, another expert predicts the meme coin could "eliminate the zero after the comma," reaching $6.5.
Following a period of bearish pressure, Dogecoin has made an impressive comeback, hovering around $0.1125. Its trading volume has also skyrocketed by 130%, with over $881 million circulating in the market.
Significant whale activity is contributing to this positive momentum, as investors holding over 10 billion DOGE have increased by 50% in recent weeks. Data from IntoTheBlock suggests this could indicate accumulation during market downturns.
Santiment data reveals a significant whale purchase of over 60 million DOGE tokens within 24 hours in July. Additionally, addresses holding between 10 million and 100 million DOGE acquired approximately 160 million tokens over the following 48 hours, pushing collective holdings to a peak of 10.5 billion tokens.
As the buying pressure from these large holders intensifies, the price is anticipated to continue its upward trend, potentially factoring in further gains.
Price predictive analysis by crypto trader Dimaports36 indicates DOGE could reach as high as $10, with the potential for further growth to $36. The relatively low price in comparison to top-10 cryptos makes it appealing to a wider audience.
Multiple analysts share a bullish outlook for Dogecoin. Masked Trader predicts a "massive move" once the moving average convergence divergence (MACD) crosses over bullishly. The analyst foresees a breakout range of $20-$50 upon surpassing the $1 resistance level.
Analyst "Master Knobi" observes a four-year pattern, coinciding with Bitcoin halvings, where DOGE eliminates a zero after the comma. Coupled with the influence of Elon Musk, the analyst expects DOGE to reach $6.9 in the upcoming bullish cycle.
Lastly, crypto analyst Javon Marks suggests a breakout based on the Relative Strength Index (RSI), potentially propelling the price to $0.6533, a substantial 513% surge from its current value.
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