Is DOGE going on a big price rally?

TL; DR

Analysts predict a bullish trend fueled by multi-year resistance and increasing trading volume, with DOGE expanding roughly 15% on a weekly basis, nearing $0.17. Some already see DOGE as having the potential to reach $1, which will parallel previous price corrections and significant increases.

Has DOGE entered a new bullish trend?

With Bitcoin (BTC) hitting the $64,000 mark and Ethereum (ETH) above $3,100, the upturn in the cryptocurrency market has been more than evident. However, one digital asset has shown even more impressive findings.And this is Dogecoin (DOGE)

Price of The biggest Mem Coin has reached approximately 15% in market capitalization Weekly balanceMaking about $0.17 an inch.

according to a lot According to analysts, the latest pump has established an overvalued area for DOGE, which means the value could rise significantly in the coming months.

Someone who supports this Thesis is the Rekt capital of X user. The businessman, who has nearly half a million followers on social media, He said he deserved it. That Dogecoin “flipped multi-year resistance into new support,” resulting in a “new macro trend.”

Cryptocatalysts were more bullish, highlighting meme coin's increased daily trading volume, “weekly level recovery” and other positives. User of X It is estimated. DOGE's path to $1 milestone is it. Clear.

Previous DOGE forecasts

Who is a crypto analyst? Also entered Lately it's Ali Martinez. The X user was unfazed by the market's decline last week and the decline in DOGE prices, saying the asset's pullback could be “part of its normal behavior before a big bull run.”

He It is mentioned Several occasions in While the value of Memcoin has decreased over the years before increasing significantly. The first case It was in 2017 when DOGE retraced by 40% before exploding to nearly 1,000%.

The situation is repeated for four years Later, the token's price nosedived 56% but then rose a whopping 12,000%, reaching an all-time high of $0.70.

“Now, in 2024, he has DOGE. Christmas Broken from a descending triangle again! There is currently a 47% price correction, very similar to previous cycles, which could fuel the next DOGE bull run,” Ali Martinez concluded.