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Dogecoin (Doge) continued to exchange a tampon in a soft way Thursday, following a low weekly fence on Sunday. In particular, the main part has evolved aside in recent days after a net withdrawal since December 9, during which it lost around 32% of its value in the middle of a slower slowdown led by Bitcoin.
Despite this decline, analysts predict calm before the storm, expecting the growth in investors’s interests to supply a potential rally, more supported by technical graph indicators.
In a tweetThe popular trading analyst Chandler Bing recently shared an ambitious price forecast for Doge, suggesting that it could overcome more than 700% compared to its current value. Bing provided a detailed analysis, sharing a graph from 2017 to 2021, highlighting key trends in DOGE PRICE Movements.
In particular, the graph reveals phases of similar explosive accumulation, escape and growth observed in the last two bull races. Bing also highlighted the levels of Fibonacci extension to 1.618, 2.618 and 3.618, which generally act as for -profit areas during parabolic prices, aligning the current market scenario. Based on this, he concluded that history could repeat itself, Dogecoin potentially reproducing its 2017 and 2021 gatherings.
“A conservative objective is between $ 2.35 and $ 2.60”, “,” He wrote. “”This is based on Doge’s performance in previous Bulls compared to Bitcoin and Ethereum. »»
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Meanwhile, analyst Ali Martinez presented a more optimistic perspective, analyzing the weekly Dogecoin graphic and highlighting the price movement in an ascending channel. Martinez predicts that if Dogecoin continues to follow this parallel channel model, it could increase by 6,770%. Although it did not specify a calendar for this decision, reaching this objective would push the price well above the fork of $ 15.
Martinez’s daring forecast echoes the Tandigrade trader, who recently shared with his 68,000 x subscribers that he targets a for -profit area for Dogecoin between $ 10 and $ 30 in this cycle.
“Based on the last cycle (2021, directed by bulls), this could be your target for Doge in the current cycle. The target is measured from the bottom at the top of all previous time, doubled as a base and projected in a triangle. Make profits at $ 10, “ he explain.
At the time of writing the editorial staff, Dogecoin (DOGE) was negotiated at $ 0.26, reflecting a decrease of 3.5% in the last 24 hours. However, the 24 -hour negotiation volume of the room experienced a significant increase, increasing by more than 44% to reach $ 1.6 billion, indicating increased market activity and an increase in investor interest.