Cryptocurrency analysts predict that DOGE price will rise significantly to $0.7 in 2024, and the details are as follows
A crypto analyst shared his predictions for the future trajectory of the most important meme coin, DOGE (DOGE). He also hinted at when DOGE would experience such a huge rally that would take it up to $0.7.
In a post shared on his X (formerly Twitter) platform, crypto analyst Captain Faibik said that an "epic surge" is not far off for DOGE. Judging by the accompanying chart he shared, this projected rally will see the meme coin rise to $0.7. This move is expected to happen in the first half of 2024, when the DOGE will rise by more than 900%.
From a technical analysis point of view, there seems to be widespread bullish sentiment in DOGE. Recently, cryptocurrency analyst MonoCoinSignal highlighted how the price of DOGE has entered a significant area. He noted that this area, along with other indicators, indicates bullish momentum, as the meme token may be on the rise.
Another crypto analyst named Jhonnybrah also hinted at the possibility of a magic candlestick in the price of DOGE. Unlike MoonCoinSignal, Jhonnybrah offers potential price targets that DOGE could reach. The first target of the god candlestick is exactly below $0.14 and the second target is above $0.22.
JD, a cryptocurrency analyst, also recently shared his thoughts on DOGE price action. According to the crypto analyst, the chart was set up to allow the price of the meme coin to rise significantly. He said that according to the monthly chart he shared, the "King of Memorycoins" has a "beautiful chart structure".
JD noted that another bullish crossover is imminent on the MACD (Moving Average Convergence Divergence). The last two times this is said to have happened was in 2017 and 2021, when the price of DOGE increased by 62 times and 370 times, respectively. According to the chart he shared, 2024 DOGE is likely to experience this bullish crossover again.
The influx of DOGE seems unquestionable, especially considering that the price of the meme coin has been going low for some time. A number of macro factors are also in line with this upward trend. Recently, it was reported that DOGE open interest has crossed the $500 million mark.
Meanwhile, DOGE recently reached a new milestone with over 5 million addresses now reportedly holding DOGE tokens. Confidence in the meme coin seems to be growing, and with that in mind, more liquidity may soon flow into its ecosystem.
The current DOGE is trading at around $0.097198, up more than 1.45% in the last 24 hours.
(Source: Scott Matherson)