Dogecoin (DOGE) Predicted to Break $1 According to Leading Crypto Analysts
2024-11-13
Bittime - Dogecoin (DOGE) is predicted to break $1 according to a leading crypto analyst. Dogecoin (DOGE), one of the largest memecoins on the market, is back in the spotlight after experiencing an impressive price surge, with an increase of more than 160% in less than a week.
Analysts Target $1 Psychological Target, Is it Realistic?
Many crypto analysts and traders are now looking forward to the next move, specifically targeting the psychological level of $1 (around Rp15,700) as a price that DOGE could reach in the near future.
Read also Dogecoin (DOGE) Price Prediction to Correct 5% in Q4 2024?
Dogecoin Price Spike: Key Factors and Analyst Predictions
In the past week, DOGE has risen by 107%, adding about $30 billion in market capitalization in just one day. This rapid movement has prompted various predictions from renowned analysts.
One crypto analyst with the pseudonym Kaleo, who has over 656,000 followers on the X platform (formerly Twitter), revealed that DOGE is likely to experience a brief consolidation before eventually climbing higher.
According to Kaleo, DOGE might drop to the $0.30 level before experiencing another surge.
Kaleo stated, “The current price movement pattern makes sense. After a slight correction below the meme resistance level around $0.42, DOGE could drop to the $0.30 range to eliminate late buying interest, and then resume the upside.”
Ultimately, Kaleo expects DOGE to reach a price of $1, which means a potential upside of about 170% from current levels.
Also read Tron 2024 SUN Price Prediction: Technical Analysis
Other Traders' Predictions: Peter Brandt and Bluntz Support DOGE Surge
Legendary commodity trader Peter Brandt has also predicted a significant upside for DOGE. He recently identified a breakout pattern on DOGE from an inverse head and shoulders (H&S) pattern that signals a trend reversal and possible new highs.
Brandt is optimistic that DOGE could reach an all-time high above $0.73.
According to Brandt, “DOGE confirmed a channel breakout with strong price accumulation behind it. New highs are on the horizon.”
Other analysts, such as popular trader Bluntz, also support this view, stating that the $1 level is a realistic target for DOGE and not just a “meme” as many people think.
According to Bluntz, the $1 price level is an important goal that DOGE can reach with the right momentum.
A Different View: Dogecoin Viewed as an Old Coin
On the other hand, there are also analysts who are less optimistic about DOGE. A crypto trader by the name of DonAlt calls DOGE an “old coin” that probably won't attract new interest from retail.
With 595,000 followers on X, DonAlt warns that Dogecoin's popularity may decline compared to newer, more attention-grabbing coins.
At the time of writing, DOGE is trading at around $0.37.
With varying opinions from analysts, the future of DOGE remains speculative, but the $1 level remains a key target that many in the community are watching.
Conclusion
Dogecoin has caught the attention of the crypto market once again with a significant price spike and predictions of a rise to $1 by various prominent analysts.
With support from analysts such as Kaleo, Peter Brandt, and Bluntz, and their community of followers, DOGE has the potential to reach that level if the bullish momentum is maintained.
However, skeptical views such as those expressed by DonAlt suggest that DOGE's journey to $1 is still challenging.
References:
*https://dailyhodl.com/2024/11/12/dogecoin-doge-leads-crypto-market-with-explosive-move-as-traders-eye-1-price-target*
How to Buy Crypto on Bittime
Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.
Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
