A cryptocurrency analyst said that Dogcoin may be preparing to rise again to $0.1
A cryptocurrency analyst said that Dogcoin may be preparing to rise again to $0.1. After some indicators showed favorable factors for sustained recovery, the analyst placed Dogcoin in a unique position that could break through.
Dog Coin 50 Day Index Moving Average (EMA) Situation
Cryptocurrency analyst Alan Santana has proposed another optimistic analysis on the price of dogcoin. His prediction is based on the 50 day moving average (EMA) of the DOGE index, which has experienced a long-term decline and then turned upward. Therefore, resistance has always been the focus of debate between bulls and bears, but ultimately it is beneficial for bulls.
Santana's chart analysis compares the trend of dog currency with that of Caldano, which has recently broken through months of consolidation. He pointed out that after Dog Coin reaches a new high, all price reversals and fluctuations will remain above the 50 day moving average of the index.
Based on this analysis, he proposed three target prices. The first target price is 0.03 US dollars, which is 19.46% higher than the current price level. Next is the target price of $0.09449, which means the price has increased by 34.74%.
A cryptocurrency analyst revealed that the ultimate price target for Dogcoin is the elusive $0.1 mark. Although this target is the highest, the increase reached 44.27%. If the 50 day moving average of the index (EMA50) continues to remain stable, it may mean that the price of dog coins has entered another bull market stage.
Dog coin bullish sentiment is once again rising
In addition to Santana's optimistic predictions, there are other analysts who are very optimistic about the outlook for memes. Another analyst predicts that memes are expected to reach a price of $26 in the next bull market, which will mean an increase of approximately 37500%, comparable to the legendary rise in 2021.
In addition, cryptocurrency analyst Ali Martinez also shared a very optimistic outlook for Dogcoin. Martinez stated that the price of dog coins may soon exceed $1.6. This prediction is based on the fact that the TD sequence indicator has issued a bullish signal and confirmed the buying signal.
Another analyst set the price forecast for dog coins to double digits, with a target price of $14. This prediction implies a 27500% increase, starting at the bottom level of $0.0588 and also the starting point for price increases. Interestingly, this price point has been consistently maintained, and the price of dog coins has also remained above $0.067.
However, given that the price of Dogcoin has dropped by 2.77% in the past day, DOGE's performance is not the best. Its position on the major cryptocurrency rankings has also dropped to ninth place, while Cardano (ADA) ranks eighth.
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