- Dogecoin has lost ground recently but maintains strong monthly performance.
- Analysts forecast short-term targets between $0.55 and $0.85, with potential long-term gains of 9,000% or more.
- Growing volumes and market trends suggest DOGE remains poised for another rally.
Dogecoin’s (DOGE) momentum has slowed in recent days, with the coin losing 8% in the past 24 hours. Currently trading at $0.3900, this drop reduced its weekly gain to a modest 2.29%. However, the monthly chart still reflects an astonishing 188% rise, keeping analysts optimistic.
Trading View Analyst MadWhale set an optimistic tone for DOGE’s near-term future. Despite the recent consolidation, he predicts a 37% price rise, targeting a breakout to $0.55. His confidence comes from Dogecoin maintaining support above the critical $0.3000 level, derived from Fibonacci retracement analysis.
MadWhale points to increased trading volumes and increased social media activity as additional factors fueling DOGE’s potential rebound. In his opinion, Dogecoin is poised for a substantial rally once bullish sentiment resurfaces.
Alternative Views on Dogecoin’s Trajectory
Other analysts share an optimistic view of Dogecoin’s trajectory. Bluntz views the recent consolidation as part of a wave 4 correction, setting the stage for a significant parabolic rally, and advises not to take profits until DOGE hits $1. Likewise, Trader Tardigrade highlights the emergence of a Bull Pennant pattern, projecting a potential rise to $0.85, which would represent a new all-time high for the cryptocurrency.
Longer term, Ali Martinez predicts a speculative surge of up to 30,000%, pushing DOGE beyond $10. He tempers enthusiasm by warning of temporary corrections of 40-50%, echoing trends from past cycles.
Dogecoin saw an 8% decline over the past 24 hours, although it still sees a modest weekly gain of 2.29%. On a broader scale, the meme coin is showing an impressive 188% increase over the past month, with a key support level established at $0.3000.
As analysts debate short-term corrections and long-term aspirations, Dogecoin Travel continues to captivate the market. The king of coins could still surprise investors with its next big move.