Dogecoin price is ready for big explosive rally – Why $1 is still in the card
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Dogecoin’s price has seen a big rebound recently, which has put it over $0.23 in resistance on weekends. This upward move seems to have continued as buyers restored power to the market last week. While there are obvious rallys that meme coins have recently enjoyed, people are still expecting it to continue to rise, and crypto analysts predicted Altcoin’s explosive rally.
Dogecoin prices are still very optimistic
MMBTTRADER, a pseudonym crypto analyst on the TradingView website, outlines Dogecoin’s price remains highly bullish. Since Dogecoin hasn’t reached any significant resistance yet, the current pump will continue, so set it to a road that might double.
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As crypto analysts have pointed out, Dogecoin’s price may be corrected after a recent rise. However, it is expected that this is only short-term, and in fact, it will intensify the rallies and become a bouncing point for further rallies. This corruption may be just below $0.25. However, analysts did point out that as Dogecoin’s price is so bullish, it could rise to that level before corrections are made.
Currently, the only thing that returns Dogecoin price is the trend line outlined in the analyst chart. This is the decision point for meme coins and is expected to push prices forward. In this case, crypto analysts expect it to rise as much as $0.4. Additionally, they added that if it breaks off $0.4, it will mark an extremely bullish market, pushing Dogecoin’s price to $0.75 and then bringing $1.
However, on the other hand, failure to break through the trend line may mark the beginning of bearish pressure. As shown in the figure, the first bearish stop price is $0.13548. The downtrend can then send it below $0.1 to $0.09024.
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The Governor is still shooting for $1
Another crypto analyst also suggested that Dogecoin’s price could target a $1 target. They explained that after a strong rebound supported by $0.14, Dogecoin is now showing signs of bullish reversal over the weekly timeframe. With the rising playback, this offers a broader goal for the price of meme coins.
From here, crypto analysts explain that if Dogecoin price can be held, the next major goal is $1. However, for this, the performance of quantity confirmation and price over the next few weeks is crucial. “The door may just be ready for another historic run,” the analyst said.
Featured pictures from dall.e, charts from tradingview.com
