Dogecoin (DOGE) to $10? Here’s what the experts say
After the famous rally in the market, major cryptocurrencies are experiencing a price correction. Meanwhile, a prominent crypto expert has made a post on X (formerly Twitter), stating that the popular and largest meme coin Dogecoin (DOGE) has the potential to reach $10 in the coming year.
DOGE can hit $10, experts say.
In a post on X, he said, “Show them this chart to anyone who says $10 Dogecoin is impossible.” The DOGE weekly chart shared, shows the MemCoin moving in an ascending channel pattern, showing higher highs and higher lows.
Examining the chart, DOGE appears to be currently at a higher low, and the next high is expected to be near $10 or $12. Based on this analysis, the analyst made this statement. However, this projection is long-term and may take years to achieve.
Current price momentum
At the time of publication, DOGE is trading around $0.114 and has experienced a modest decline of over 1.5% in the last 24 hours. During the same period, the volume of business increased by 37%, which increased the participation of traders and investors, which may be due to the upcoming presidential election in the United States.
Dogecoin (DOGE) technical analysis and upcoming levels
According to CoinPedia's technical analysis, DOGE has recently broken out of the neckline of a bullish double-bottom price action pattern. However, with the recent price correction, it seems to have successfully tested that breakout level or neckline near the $0.112 level and is currently facing resistance from the 200-day Exponential Moving Average (EMA).
Based on the historical price movement, if DOGE closes the daily candle above the $0.118 level, there is a strong possibility that it may rise by 20% to reach the $0.135 level in the coming days.
Meanwhile, DOGE's Relative Strength Index (RSI) supports this bullish view, as it is currently in an oversold position, which could indicate a major price recovery or rally.
