Harga DOGE Diprediksi Terbang ke US$0,49 dan Lebih Tinggi
Release: 2024/05/18 13:24 Reading: 343
Despite the overall positive movements in the crypto market, the price of Dogecoin (DOGE) appears to be in a holding pattern, awaiting a catalyst for a significant upward surge. However, one crypto expert believes that traders of the popular meme token may not have to wait much longer for a substantial price increase.
Bullish Outlook for Dogecoin
Finbold reports that popular crypto market analyst CoinsKid recently shared his bullish outlook for Dogecoin, suggesting that the meme coin could rally to $0.49 and higher in the near term.
CoinsKid explained in a post on Twitter that this projection hinges on the condition that the bottom of the potential wave C in May at $0.11929 is not lost. This indicates that as long as Dogecoin holds its price above this level, an upward trajectory is likely.
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The current chart pattern for DOGE emerged shortly after CoinsKid noted the formation of an inverse head and shoulders pattern on the daily chart for DOGE.
This pattern is a bullish indicator that suggests the potential for a price uptrend or a trend reversal from bearish to bullish. This technical pattern often signals that a substantial price increase could be on the horizon.
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Conservative Outlook
In contrast, fellow crypto analyst World Of Charts has a more conservative yet still optimistic view.
While not as bullish as CoinsKid, World Of Charts predicts that the price of DOGE could see a price increase soon, with targets between $0.27 and $0.30. This prediction comes just days after another expert, Behdark, suggested that Dogecoin could experience a long-term bullish rally.
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DOGE's Recent Price Performance
Based on the latest price data available, Dogecoin is trading at $0.1531. This represents a small increase of 0.95 percent over the past 24 hours.
Additionally, DOGE has demonstrated a 2.37 percent increase over the past week and a modest 0.27 percent gain over the past month. Despite the current price stagnation, these small increases indicate the presence of a resilient market for Dogecoin.
In summary, while the price of Dogecoin is currently relatively stable, the presence of bullish technical patterns and optimistic forecasts from market analysts suggest that the price of DOGE could see upward movement in the near future. Time will tell.
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