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Expert Forecasts 700% Growth For Dogecoin (DOGE) As It Sets Sights On $1 Target

Dogecoin (DOGE), the popular meme-based cryptocurrency, has demonstrated its resilience in the market with a 2.5% price increase over the past 24 hours, reaching a trading price of $0.1607. 

Analysts, including Altcoin Sherpa and Ali Martinez, have recently shared optimistic predictions for DOGE’s future, suggesting further gains and potential for outperformance compared to other tokens.

A Strong Future For Dogecoin In 2024? 

Over the past months, DOGE has closely followed Bitcoin’s price action, experiencing ups and downs in tandem with the market leader. 

On March 28, DOGE reached its yearly high of $0.2292, solidifying its position as the 9th largest cryptocurrency with nearly 100% year-to-date growth. Despite the volatility, DOGE has demonstrated its ability to rebound and attract investor attention.

Market expert Altcoin Sherpa recently expressed optimism about DOGE’s future, stating that the coin is poised for strength in 2024. 

Altcoin Sherpa recommended averaging between $0.12 and $0.14, emphasizing DOGE’s potential to outperform other tokens.

The analyst highlighted DOGE’s previous consolidation phase, lasting almost two years, and suggested that it is primed for a significant price surge in the future. Sherpa stated:

DOGE is looking good. I strongly feel like this is going to be a strong coin for 2024. I think averaging between $.12 and $.14 would be a solid play and this one should outperform many other tokens for a lot of reasons. It chopped for almost 2 years, it’s going to moon later. 

700% Price Uptrend Toward $1

On the other hand, crypto analyst Ali Martinez has also shared a bullish prediction for DOGE, noting the coin’s recurring price patterns. 

Martinez pointed out that DOGE consolidates after breaking out of a descending triangle formation. Based on historical trends, the analyst believes that DOGE has the potential to rally towards $1 in the coming weeks, which would represent a staggering 700% uptrend in price from current levels, surpassing the cryptocurrency’s current all-time high of $0.7316, reached in May 2021. 

Dogecoin

Despite Martinez’s optimistic outlook, Dogecoin faces several resistance levels that have impeded its recovery after a 21% price decline in the past two weeks.

The meme coin encounters a significant obstacle at the $0.1633 price level, as depicted in the DOGE/USD daily chart above. This level has acted as a barrier for the past 10 days, hindering further upward movement.

In its journey towards the $0.200 mark, DOGE may encounter additional hurdles at $0.1739, $0.1938, and $0.1998. These resistance levels must be overcome before the cryptocurrency can potentially retest its all-time high.

It is important to note that Bitcoin’s performance will likely influence Dogecoin’s price movement in the coming weeks. In addition, Dogecoin’s overall trajectory through the end of 2024 remains uncertain as it depends on the potential for a bullish breakout and various market factors.

Featured image from Shutterstock, chart from TradingView.com 

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Top Analyst Anticipates Dogecoin Surge To $0.10, But There’s A Catch

Elon Musk-backed meme coin Dogecoin (DOGE) has seen a significant price correction in recent days, falling over 14% in the past 30 days, due to the market’s waning sentiment surrounding the hype generated by the approval of Bitcoin Exchange Traded Funds (ETFs), and the lack of bullish catalysts.

After reaching an 11-month high of $0.1073 on December 11, 2023, DOGE witnessed a decline to the $0.0743 level. However, over the past 7 days, the meme coin has managed to break the downtrend, recording a 2% surge.

This positive movement has led a prominent crypto analyst to predict a potential upward movement towards the previously lost $0.10 mark. However, there is a crucial support cluster that the cryptocurrency must maintain for this anticipated rise to occur.

Rebound Opportunity For Dogecoin

Renowned crypto analyst Ali Martinez has provided insightful analysis on the prospects of Dogecoin following its recent price correction. Martinez has drawn attention to the TD Sequential indicator, a technical analysis tool used to identify potential trend reversals and price exhaustion points.

According to Martinez, the TD Sequential indicator has recently presented a buy signal on the 3-day chart of Dogecoin as seen in the chart below. 

Dogecoin

According to Martinez’s analysis, the TD Sequential indicator suggests a potential rebound opportunity for DOGE. However, he emphasizes the critical importance of a key support cluster centered around the $0.074 mark. Maintaining this support level is crucial for Dogecoin to realize its upward potential and regain positive momentum.

Key Levels To Watch 

In addition to this pivotal support, several other key levels should be closely monitored as they could significantly impact the future price action of the meme coin. 

The first noteworthy level is the support near $0.078. This level plays a vital role as a foundation for maintaining price stability. It represents a zone where buying pressure is expected to outweigh selling pressure, indicating a higher probability of DOGE sustaining its upward trajectory.

Another level of significance is the $0.075 level, which has recently demonstrated strong support for the token. Dogecoin has rebounded from this level and is currently trading just above it, reinforcing the importance of this price point in determining future price movements.

Conversely, resistance around $0.088 poses a significant barrier to DOGE’s continued upward movement. To sustain its positive trajectory and reach higher levels such as $0.09, the token must overcome this resistance. 

Subsequently, it would face further hurdles at the $0.940 and $0.9824 levels before attempting to regain the $0.10 mark.

Dogecoin

The future price movements of Dogecoin remain uncertain, and it is yet to be determined which side, whether bullish or bearish, will prevail. The outcome of this battle could significantly influence the mid-term direction of the token’s price.

Featured image from Shutterstock, chart from TradingView.com 

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Solana’s BONK Climbs To 3rd Place In Dog Coin Market Cap, Leaving FLOKI Behind

In recent weeks, the Solana (SOL) blockchain has been making waves in the crypto world, with its native token SOL experiencing a remarkable uptrend of 46% over the past 30 days. Alongside this surge, Bonk Inu (BONK), the first Solana-based meme coin, has gained significant traction, solidifying its position as the third-largest dog coin by market capitalization, surpassing Floki Inu (FLOKI).

BONK Rockets To New Heights With 845% Surge In 30 Days

The staggering growth of Bonk Inu is evident in its recent performance, achieving an impressive 845% gain over the past 30 days. The meme coin’s remarkable ascent has propelled it to new yearly highs, while SOL experienced a slight pullback from its peak of $65 on December 2.

Despite the temporary setback for SOL, the bullish momentum and renewed interest in Bonk Inu have caught the attention of market participants. 

As of now, BONK is trading at $0.0000069712, outperforming the broader crypto market with a remarkable 22.4% uptrend in the past 24 hours, aligning with the positive sentiment surrounding Bitcoin (BTC) and the overall market.

BONK

With a market capitalization of approximately $430 million, Bonk Inu currently sits in third place among dog coins, trailing behind the likes of Shiba Inu (SHIB) and Dogecoin (DOGE), which boast market caps of $5 billion and $12 billion, respectively.

CoinGecko data reveals that BONK has witnessed a significant 24-hour trading volume of $65,235,205.16, indicating strong investor interest and active participation in the market.

BONK

The future trajectory of Bonk Inu’s uptrend and its potential for further gains remains uncertain. However, should BONK continue to attract investors, it has the potential to dethrone Pepecoin (PEPE) in terms of market capitalization. As of the latest update, PEPE has achieved a market cap of $592 million.

However, it is important to note that Bonk Inu still has a significant gap to bridge to catch up with the largest dog coins in the market in terms of market capitalization, namely SHIB and DOGE. SHIB and DOGE have demonstrated substantial gains and already possess staggering market capitalizations.

Dog Coins Make Strong Push For Year-End Gains

The altcoin SHIB, built on the Ethereum platform and known for its Shiba Inu mascot, continues to demonstrate consistent gains across various time frames. 

Notably, SHIB has seen a 14% increase over the past fourteen days and an 18% surge over the past thirty days. These positive trends have allowed the dog coin to achieve a slight year-to-date profit of 0.2% after experiencing a significant downturn in 2022.

Presently, SHIB is trading at $0.00000946, representing a decline of more than 89% from its all-time high (ATH) of $0.00008616, reached in October 2021.

Meanwhile, the meme coin DOGE, which has the backing of Elon Musk, is currently trading at $0.09058. It has witnessed an 18% rise over the past fourteen days and nearly 30% growth over the past thirty days, following a sustained upward trend that began on November 21. 

BONK

However, in contrast to SHIB’s price action, DOGE has experienced a 12% decline year-to-date and an 87% drop from its ATH of $0.731578 reached in May 2021.

It remains to be seen whether the dog coins will continue to experience further gains throughout the remainder of the year or if a healthy pullback will occur to surpass upper resistance levels for another upward movement.

Featured image from Shutterstock, chart from TradingView.com 

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Dogecoin (DOGE) Climbs 44% In Last 7 Days As Other Cryptos See Correction

While the crypto market faces a correction period, Dogecoin has been able to notch gains. The popular meme coin has boasted over 44% gains in the last week alone. The cryptocurrency currently trades at $0.086 with a 24-hour volume of $3,308,559,307. This makes it one of the top gainers in the past week.

There are several reasons for DOGE’s price action. One of them is Elon “Dogefather” Musk’s Twitter acquisition. The news has recently been making rounds on social media that the Tesla CEO would finally close his Twitter deal. With him finalizing the acquisition today, Doge supporters are bullish about the future of the cryptocurrency.

Doge Soars 12% On The Day After Market-Wide Correction

The entire crypto market experienced corrections that saw several coin prices retract by as much as 10 percent. Dogecoin also experienced this correction and was down by 8 percent. However, DOGE has risen by 12% in the past few hours, recouping losses sustained during the market-wide slump. Dogecoin’s value has also increased by over 40% in the past week. Its trading volume has also increased dramatically within this period.

Market cap-wise, Doge is the ninth-largest crypto, and its price of roughly $0.086 was the highest since August. According to CoinMarketCap, it has seen a trading volume of $3.3 billion in the last 24 hours. This means that more Dogecoin has traded hands in the last 24 hours than Solana or Bitcoin Cash. In fact, all meme coins (as per CoinGecko report) have increased in value by approximately 10% in the same timeframe.

Doge has only experienced this much trading activity in 2022 three times. The first was when Elon Musk announced that he’d accept DOGE as a payment method for Tesla transactions back in January. The second time was when he announced he’ll be buying Twitter. And the last time was when he accepted the bid in August.

DOGEUSD

Dogecoin’s price is currently hovering around $0.0838. | Source: DOGEUSD price char from TradingView.com

Musk Takes Over Twitter: Plans For The Social Media And DOGE

Yesterday, Dogecoin price increased by more than 21% after Musk visited Twitter’s San Francisco headquarters carrying a sink. Musk’s visit served as a clue that the takeover agreement would be finalized before the October 28 deadline. 

After Musk took full control of Twitter, several executives, including CEO Parag Agrawal and CFO Ned Segal, resigned. The head of legal, policy, and trust, Vijaya Gadde, and the general counsel, Sean Edgett, also resigned. Musk has assured Twitter’s workforce that a 75 percent layoff is not in the works.

As per Musk’s plans for the social network, he intends to restore several banned accounts, including that of former US President Donald Trump. In addition, Twitter will roll out a feature that will enable NFTs to display natively in feeds. It will make buying and selling NFTs easier.

Meanwhile, it’s unclear whether or not Musk will introduce Dogecoin on Twitter. However, the Dogecoin community expects Musk to make an announcement soon.

Featured image from Pixabay and chart from TradingView.com

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Dogecoin Has Dropped 90% Since “The Dogefather” Debuted On SNL

Dogecoin, the most popular meme cryptocurrency, has dropped 30% in the last 24 hours, but has already started to rebound.

Someone moved around 250 million Dogecoins during this enormous price drop, with little more than half of that amount going to Robinhood.

Whale Move Dogecoin To Robinhood

The @DogeWhaleAlert account, which monitors large Dogecoin transfers, has discovered two transactions totaling more than 100 million Dogecoins.

The two DOGE lumps had a total of 110,614,220 and 139,261,848 meme coins worth $8,497,274 and $11,625,997, respectively. The second Dogecoin payment was made via the renowned Robinhood trading program, which allows users to invest in equities as well as cryptocurrency such as Bitcoin, Ethereum, Solana, DOGE, Shiba Inu, Bitcoin Cash, and other prominent coins.

🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨

139,261,848 $DOGE ($11,625,997 USD) was transferred from an unknown wallet to a #Robinhood wallet.

Fee: 0.756 ($0.063 USD)

Tx: https://t.co/ADkdxMqG32#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews

— Ðogecoin Whale Alert (@DogeWhaleAlert) May 11, 2022

Following Bitcoin’s slide to $27,000 and Terra’s UST losing its dollar peg, Dogecoin has lost 30% of its value in the last 24 hours, plunging $0.160 to $0.0723.

However, the coin has started to recoup some of its losses, climbing 9.47 percent as of press time. DOGE is now trading at $0.0793 on the Binance market.

Suggested Reading | Shiba Inu: Biggest Dollar Holding Among Wealthiest Ethereum Whales

DOGE Plummets Since Musk’s Endorsement

DOGE has plummeted 90% since reaching a historic high on May 8 last year. Following Elon Musk’s declaration of himself as “The Dogefather” on Twitter and subsequent appearance on Saturday Night Live, the meme coin rocketed to $0.7376. (SNL).

DOGE/USD has plumetted 90% since Musk appeared on SNL. Source: TradingView

However, the presence of Tesla CEO Elon Musk on American television triggered a large selloff, and the token sank to $0.45 three days later.

Musk has long been a supporter of Dogecoin, frequently promoting it in his tweets and boosting its value. However, as time passed, these tweets began to have little or no effect on the Dogecoin price.

Tesla, the electric car company, began accepting the meme coin as payment for certain items in its online store in January 2022. Musk responded by saying it was an experiment and that he would see how it went.

Related Reading | Dogecoin Displays A Falling Wedge Pattern; Here’s What It Means

Featured image from UnSplash, chart from TradingView.com