Analysts predict a large price gain for Dogecoin (DOGE) in the coming months, putting the meter piece under the spotlight. Some analysts believe that Doge will reach $ 1.35 by mid-April, a significant increase in its current price of around $ 0.27, while the cryptocurrency market recovers. The crypto of the popular meme will increase by around 400% and reach new heights if this prediction is materialized.
The vigor of the market nourishes DOGE optimism
While Bitcoin leads the thrust over $ 57,000, the wider market of cryptocurrencies has warmed up. Historically, cryptos even as Dogecoin benefited from the ascent of Bitcoin; Generally corresponding to its speed with stable but notable increases.
Given the daily transactions of approximately 1.5 billion dollars, the recent increase in the DOGE negotiation volume indicates significant demand from investors. This increase in activity is proof that traders are preparing for a major escape.
Past models indicate a bullish cycle
Following the events of half of Bitcoin, Dogecoin has a story of ramp spectacular during the bull markets. The sponsorships of celebrities and the buzz on social networks led Doge from $ 0.05 to $ 0.74 in a few months in 2021. Although the current cycle cannot follow this same path, the previous figures indicate that, in Favorable market conditions, the same part has the capacity to recover quite radically in a fairly spectacular way.
The cryptocurrency analyst Master Kenobi predicts that Dogecoin could reach $ 1.35 “within 70 days” from the bottom of February 3. These forecasts comply in mid-April, a crucial deadline which falls a year after the event in half Bitcoin.
The cryptocurrency market experienced a significant increase during the reduction cycle in half preceding, and this could reproduce, pushing Dogecoin to market assessment of almost $ 200 billion.
#DOGE at $ 1.35 within 70 days from February 3, if it follows the time of the last cycle. It aligns in mid-April. Do you remember? Exactly a year since the reduction in half of the bitcoin, just as happened in the last cycle. This means a market capitalization of … https://t.co/bogd9abflk pic.twitter.com/duof9rlhnx
Important support levels, resistance to surveillance
Before Doge can reach $ 1.35, it must exceed strong resistance. Analysts see $ 0.30 and $ 0.45 as important levels to check before a large movement to $ 1. The level of support at $ 0.20 is still solid downwards, and it serves as a safety net in the event of a short decline. A regular increase at $ 1.35 could occur if people continue to buy at these prices.Weighing media threshing
Even if people are optimistic, buyers must be careful. The cryptocurrency market is always very unstable. Dogecoin has a strong community behind it, but it still lacks fundamental utility compared to other great cryptocurrencies.
Since speculation always influences its price, sudden drops are always a possibility. For those who hope to take advantage of the possible rally, risk management is crucial.
Everyone will keep an eye on Dogecoin as April approaches to see if it can surprise them again. Whether Doge reaches $ 1.35 or not, the future seems brilliant for merchants and holders.
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