Crypto analyst Jmorg provides in-depth technical analysis that suggests what might have happened Dogecoin price From the current level. As part of a wider crypto market correction, the top meme coins have dropped below the psychological $0.2 level.
What might be the price of a dog from the current level
exist TradingView PostsJmorg said, there is meaningful motivation behind Dogecoin Current price actionwhich is evident in the Currency Traffic Index (MFI). He noted that the metric is accelerating very low momentum and is higher in the weekly timeframe.
Analysts further pointed out that the Bollinger’s width is narrowing to historical lows, which could ultimately be a catalyst for Doge to return or exceed the necessary volatility required for its current historical high (ATH). He claims Dogecoin can be based on $1 of A Cup and handle measurement movement. Meanwhile, the most important meme coins may touch $0.95 based on the measured movement of the rectangle breakout.
Comment Fibonacci returnJmorg said the answer to the current ATH might seem like it would be $0.73 given the momentum and potential increase in volume. The analysts added that the pause and the extension of the higher time would bring domycin close to $1.20.
He continued to hint Dogecoin’s historical modelwhich gave Meme Coin a record growth rate of 8,000% and 2,000%. The analyst noted that 8,000% of the gains would cost $15, or $2.3 trillion in market cap. Jmorg pointed out that this seems unlikely, as BTC has a market cap of about $2,2 trillion.
However, analysts highlighted a scenario where Bitcoin price rose to $200,000, and then a breakthrough in the wedge pattern brought Dogecoin to $15. He noted that this situation makes the $15 price target more realistic and that since cryptocurrencies are unpredictable, nothing is possible.
Factors that can send Doge to new highs
In his analysis, JMORG also outlines factors that may raise Dogecoin prices to new highs. First, he said the midterm elections will be important, and he suspected that the Trump administration will do everything possible to retain control over DC, which could lead to Pro Claputo Policy.
The analyst added that pro-Cretto policies and deregulation could be strong for the U.S. economy, which will help keep people hiring and ultimately maintain high asset prices.
Another factor outlined by Jmorg is Dogecoin etf. He noted that approval of these funds seems likely, which could provide an important source of demand. Doge ETFs will drive institutional inflows, which may inspire meme coins to rise in prices.
The last factor is the potential integration of Dogecoin payments X Social Media Platform. The crypto analyst noted that given that Elon Musk is a big fan of meme coins, it doesn’t seem unrealistic. Like the Doge ETF, he said this could provide a source of demand for meme coins.
At the time of writing, Dogecoin price is trading at about $0.1897, down more than 7% in the past 24 hours. data From CoinMarketCap.
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