Latest Dogecoin Price Prediction, Can It Go High?

Bittime - Dogecoin is now one of the most popular digital assets in the crypto world. Dogecoin (DOGE) price has caught the attention of investors after showing signs of a bullish revival in recent weeks. So, what is the latest Dogecoin price prediction? Check out the analysis here.

In recent months, Dogecoin has shown a chart pattern that signals a major breakout opportunity. This prediction sparked enthusiasm among the crypto community, especially after several prominent analysts named DOGE as one of the assets to watch. 

This article will discuss the latest Dogecoin price predictions, factors influencing them, and opportunities for investors to profit from emerging market trends.

Dogecoin Price Predictions According to Experts

According to renowned crypto experts Tardigrate and Dima James Potts, the price of Dogecoin could rise significantly. The following is the explanation.

DOGE Readiness for Big Rally

Trader Tardigrade, a well-known crypto expert, recently shared his views on the potential price increase of Dogecoin. Based on the so-called graphic patterns Hidden Bullish Divergence, Tardigrade believes that DOGE is building momentum for a major breakout. 

This pattern usually appears when the market is in a downtrend, providing an early indication that negative momentum is weakening.

In its analysis, Tardigrade predicts two major price spikes for DOGE in the near future. The first target is to reach the price of $2 (Rp. 31,800), while the second spike could bring the DOGE price up to $20 (Rp. 318,000). 

This prediction is based on historical patterns showing that Dogecoin often experiences several spikes before reaching its peak.

Read also: Dogecoin: 6 Tips for Getting DOGE Coins

Dogecoin Long Term Projections

Dima James Potts, another crypto analyst, provided a more distant view. According to him, Dogecoin may reach its cycle peak on January 19, 2025, with the potential for the price to touch $36 (Rp. 572,400). 

This prediction is based on analysis of the previous cycle, where DOGE experienced an increase of up to 54,890% from the market's lowest point to its peak.

Potts noted that the percentage increase in each previous cycle has always been increasing, so this cycle has the potential to be the largest in Dogecoin history. With positive momentum in the crypto market as a whole, DOGE is likely to follow this trend.

Factors Supporting the Increase in Dogecoin Prices

There are several factors supporting the increase in the price of this memecoin. The following is the explanation:

1. Crypto Market Optimism

The crypto market as a whole is showing signs of recovery after a long bear market period. This positive sentiment provides additional impetus for assets like Dogecoin to move up.

2. Adoption and Strong Community

One of Dogecoin's main strengths is its large and loyal community. Additionally, DOGE often gets support from famous figures like Elon Musk, whose contribution to the coin's popularity cannot be ignored.

3. Technical Analysis

Chart patterns like Hidden Bullish Divergence providing a strong indication that DOGE is preparing for a major rally. Other technical indicators, such as RSI, also show upside potential in the near term.

Read also: Dogecoin Price Trend Increases, Is This the Right Time to Buy DOGE?

However, not all analyzes guarantee price increases. Like other crypto assets, Dogecoin is also prone to high volatility. Sudden changes in market sentiment or strict regulations can significantly impact prices. 

Investors are advised to remain cautious and conduct in-depth research before investing.

Conclusion

Dogecoin price prediction shows great potential for a rally in the near future, with ambitious targets projected by experts. While this opportunity looks promising, investors should remain cautious, considering the volatility of the crypto market. 

With a combination of technical analysis, market sentiment, and community support, Dogecoin is poised to become one of the most exciting assets in the coming year.

FAQs About Dogecoin (DOGE)

1. What is the highest price of Dogecoin?

The highest price of Dogecoin (DOGE) was recorded on May 8, 2021, namely $0.7316 (Rp. 11,640). Currently, DOGE's price is around 47.94% lower than that high.

2. Can Dogecoin be mined?

Yes, Dogecoin can be mined legally in most countries, including the United States, Canada, and European countries. However, some countries such as China and Algeria prohibit crypto mining activities, so it is important to check local regulations first.

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Reference

• Binance Square, Dogecoin Set To Rally: Market Expert Claims DOGE’s Next Big Run Is Imminent, Accessed November 22, 2024.
• CoinGecko, Doge Price CoinGecko, Accessed November 22, 2024.

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